Accountants and bookkeepers both look after your financial information. There are many similarities, and some of the tasks overlap. Sometimes as in the case of Bassoon Accounts, the firm may even offer both services!
Generally, bookkeepers are not degree certified while accountants are.
Duties of Bookkeepers
Bookkeepers are responsible for a number of tasks relating to your accounts. Bookkeeping services can include:
- Data Entry
- Account reconciliation
- Paying accounts
- Reconciliation of accounts and bank statements
- Liaising with debtors and creditors on your behalf.
- Answers bookkeeping queries
Duties of Accountants
A bookkeeper will normally organise your day to day financials, while your accountant will take over the more advanced tasks. These can include:
- Liaising with the ATO
- Income Tax Returns
- Minutes of Meeting
- ASIC matters
- Preparing Profit and Loss Statements
- Preparing Balance Sheets
- Preparing Financial Statements
- Auditing records
- Answering accounting queries
- Attending seminars and workshops relating to accounting
Accounting and Bookkeeping Services
Both bookkeepers and accountants:
- Maybe qualified to undertake BAS preparation and lodgement. While bookkeepers may be a registered BAS agent this is not required. Accountants need to be registered for BAS lodgement.
- Need knowledge of current local, state, and federal legal requirements in relation to business accounts.
- Need to have strong organisation skills and attention to detail
- Must maintain strong confidentiality
- Analyse financial information
- Need data protection systems in place to protect your financial data and information
- Must be trained and up to date in current bookkeeping software
At Bassoon Accounts we are an accounting and bookkeeping firm, servicing Castle Hill, Bella Vista, Parramatta and surrounding areas. We look after every aspect of your accounting and bookkeeping services and provide a web-based service which streamlines your business and makes it easy for you to efficiently monitor your finances.
Our rates are competitive, and the service friendly and professional. For more information on how we can help you to best manage your business finances, contact us at Bassoon Accounts.