Many small businesses hire bookkeeper in Australia to help them manage business activities and tax liabilities, which creates huge opportunities to develop careers in the sector.
As the finance sector is booming, bookkeeping is a much-desired role that the companies are willing to give to our talented professionals. A bookkeeper is responsible for recording all the financial happenings in the company in the account books and thus see the inflow and outflow of money and report to higher officials about the same. A bookkeeper’s responsibility also includes maintaining the books of accounts and keeping them updated. Also in case if there are any discrepancies noticed, the same needs to be reported.
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A normal day in the life of a bookkeeper is very much related to accounts and viewing the transactions that have taken place. The key responsibilities include:
- Using software such as MYOB, QuickBooks or spreadsheets and databases for recording financial transactions
- Arrange for paying creditors
- Seeing receipts and validating them
- Prepare payrolls with support from human resources
- Calculation of assets of the company, liabilities, profits, and losses, and what are some contingent profits and losses of the company.
- Prepare bank reconciliation statements
- Reporting and preparation of Business Activity Statement (BAS)
- Checking the figures and seeing the accuracy
- Reporting discrepancies to the management
BAS (Business Activity Statement)
Many bookkeepers are hired by businesses for financial transaction management and they are to prepare BAS. BAS is tax report that is required to be sent by businesses to tax authorities during the year. To get registered as BAS professional one is required to complete the Certificate IV in Bookkeeping.
Other than this for making a career in bookkeeping one is required to be good in finance and hence some courses can be done in finance. These may be short courses that will prepare you for certain topics like that related to taxation for companies, preparing accounts, understanding how transactions are recorded in case payments are not received etc…
If one is looking for a career in this field, then there are some skills that are very much desirable. These include the following:
- Analytical skills and problem solving attitude
- Organizational skills
- Aptitude for numbers and calculations
- Due diligence
- Details must be seen
- Patient and dedicated individual
A career in bookkeeping is very rewarding in terms of salaries and the opportunities increase as you go up in the ladder. The finance industry is very dynamic since the rules are made by government policies and hence if you go for this industry so be ready to learn continuously.
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