What does a bookkeeper do?
Bookkeepers use accounting software, databases and spreadsheets to record and monitor an organisation’s financial information. They also prepare reports and financial statements.
Bookkeepers report any irregularities they spot to management and, on occasion, liaise with clients and other departments regarding matters related to purchasing, payroll, invoicing and receipts. Often, a bookkeeper is also responsible for preparing and lodging a company’s business activity statements (BAS) with the Australian Taxation Office.
Bookkeeper skills and qualifications
To perform the role well, a successful bookkeeper should have the following skills and aptitudes:
- Excellent organisational skills
- A methodical approach and attention to detail
- Good technical skills to use computers and software as required
- Mathematical and numerical aptitude
- Good problem-solving skills
Bookkeeper experience requirements
As part of their training, a bookkeeper is required to complete 1,400 hours of work experience in the role under the supervision of an experienced bookkeeper and registered BAS Agent. This means that even newly qualified bookkeepers have a significant amount of experience under their belt.
Depending on the exact responsibilities your bookkeeper needs to perform, especially if high-level reporting for the executive team is involved, you may want to choose to hire a bookkeeper with several years of experience as a fully qualified bookkeeper.
Bookkeeper education and training requirements
Working as a bookkeeper in Australia requires a recognised VET qualification, such as the Certificate IV in Accounting and Bookkeeping or the Diploma of Accounting. As part of their studies, bookkeepers are required to complete the relevant BAS and GST units, either as part of their coursework or through work experience under the supervision of a registered BAS Agent.
Once a budding bookkeeper has gained 1,400 hours of relevant work experience in an entry-level or volunteer role, they need to apply to the Australian Tax Practitioners Board to become a registered BAS Agent. Finally, practising bookkeepers are required to take out a professional indemnity insurance policy.
Bookkeeper salary expectations
According to Indeed Salaries, the average salary for a bookkeeper is $65,511 per year. This figure is fairly consistent across all Australian states and territories, with some major cities paying slightly above-average bookkeeper salaries.
Job description samples for similar positions
There are several roles that are similar to that of a bookkeeper. Read the descriptions to determine if you need to hire one of these specialists in addition to or instead of a bookkeeper:
Bookkeeper job description FAQs
What makes a great bookkeeper?
A great bookkeeper will take time to get to know your business beyond merely entering data, and they won’t shy away from asking you questions to fully understand your financial transactions. They may end up helping you make some processes more efficient and saving you some money when you submit your tax return.
What’s the difference between a bookkeeper and an accountant?
Most organisations have two functions, accounting and bookkeeping, which appear similar at first glance. While both bookkeepers and accountants deal with financials, bookkeepers are generally responsible for managing the business’s daily transactions, while accountants process, analyse and report on financial data using the information provided by the bookkeeper.
Accountant is a more senior role than bookkeeping and requires more comprehensive accounting qualifications, such as the Chartered Accountant certification.
Can I outsource bookkeeping instead of hiring a bookkeeper?
Although it is possible to outsource bookkeeping services to a third-party provider, having your own bookkeeper on your team is usually a better option. A dedicated in-house bookkeeper will become very familiar with your business and all transactions very quickly. This will make their work more efficient as they will spend less time trying to work out what each transaction is for and they will spot irregularities more easily than an external bookkeeper might.
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