Good Question, I’m glad you asked, I have a couple of questions for you.
- Do you track your income and expenses for your business?
- Are you using an accounting software package?
- Can you read your reports?
- Do you have the time?
- Any Employees?
- Are your receipts in a shoebox (PLEASE SAY NO!)
Most business will eventually need a bookkeeper as well as an accountant.
What is the difference?
A Bookkeeper records and reconciles business transactions, they issue and receive invoices, debt collecting, payroll and payroll liabilities. We make sure your day to day records are accurate. A bookkeeper/BAS Agent can lodge PAYG and Activity statements on your behalf and numerous other reports that you are liable for.
An accountant will prepare financial statements, lodge tax returns, audits analyse financial matters.
Accountants and Bookkeepers collaborate, we have the same goal. You need to be aware of what your business requires in order to achieve accurate Books and adhere to the correct legislation and reporting standards.