What is The Role of a Bookkeeper?


Your business is growing and your accountant is pressuring you for your financial information to do your tax return and suggests it is time to find a bookkeeper. Apart from the fact that one of those sounds dull, what is a bookkeeper? 

A bookkeeper records your financial information in a way that allows your accountant to ensure what has been recorded matches the transactions on your bank statement, a process known as bank reconciliation.

Apart from bank reconciliation, a bookkeeper may assist you with:

  • Issuing invoices and following up on unpaid invoices
  • Recording bills from suppliers and organising their payments each month
  • Managing payroll for your employees
  • Adapting to Australian GST Requirements

Adapting to Australian GST Requirements

In Australia, when GST was rolled out, the role of a bookkeeper became more complex. To record transactions with GST, a bookkeeper was required by law to become a BAS Agent under the Tax Practitioners Board. 

This requires a bookkeeper to have a Certificate IV in Financial Services – Bookkeeping and provide evidence they have the relevant experience to provide a “BAS Service”. 

They are also required to have Professional Indemnity Insurance and prove they are continuing their education as bookkeepers (keeping up with the ever-changing requirements of reporting to the Australian Taxation Office).

A good bookkeeper will also be able to explain your financial reports to you provide information on the business’ performance and help you manage the business’ cash flow.

Partner with Additional Business Concepts

Let Additional Business Concepts handle the bookkeeping burden for you. Our approach integrates the Profit First methodology, fundamentally transforming your business’s financial health by prioritising profit allocation for your sustainable growth. 

Our expert team streamlines your financial processes for optimal compliance and clarity, offering you comprehensive insights into your business’s financial status. 

This seamless integration of services not only enhances your financial management but also secures your business’s path to profitability and success.