Most businesses fail to organise the payroll in this one area, which is the proper calculation and allocation of taxes. Despite the presence of various software and tools for payroll management, many companies still struggle to accurately calculate employee taxes and benefits. This leads to several issues, including inaccurate tax filings and penalties, employee dissatisfaction, and legal problems.
What skills do you need to be a bookkeeper?
Work in a fast-paced and exciting business environment
A Bookkeeper’s role is to maintain accurate records of financial transactions and produce financial statements. They also prepare and lodge Business Activity Statements (BAS) for taxation purposes.
Careers in bookkeeping
A bookkeeper typically works in a small to medium sized business across a range of industries. They record and reconcile financial transactions using bookkeeping software or spreadsheets, process payroll and produce financial reports.
Becoming a bookkeeper can be a rewarding and challenging career option with many opportunities to develop your skills. Whether you choose a short course, diploma or industry certification, there are a variety of ways to get started.
Become a BAS agent
As a bookkeeper with additional qualifications and experience, you can be certified as a Business Activity Statement (BAS) agent. This allows you to prepare and lodge your business’s BAS and IAS with the Australian Taxation Office, making sure you meet your reporting and payment obligations.
Build a better business
A good bookkeeper can give your business the tools it needs to succeed. They can help you automate or streamline bookkeeping processes, like invoicing and bank feeds, so that your books are always up-to-date.
Manage accounts payable and receivable efficiently
A good bookkeeper can help you manage your accounts payable and receivable effectively, so that you never run out of cash. They can invoice clients and handle debts if they become overdue, while making sure your suppliers are paid on time.