Accountant vs bookkeeper

Many new clients approach Laguna Bay Bookkeeping, confused about the difference between an Accountant and a Bookkeeper. They want to know what the benefits of using a bookkeeper are? What does a Bookkeeper Do?

A great bookkeeper offers many of the day to day tasks including invoicing, processing supplier invoices and chasing customers for money; Ensuring you are staying on top of your payroll, Super and PAYG obligations and processing periodical payroll; Performing Bank Reconciliations and generating Reporting; and if they are a registered BAS agent, they will also assist in preparing and lodging the GST Quarterly Activity Statements (BAS).

An even greater bookkeeper is one who is Degree Qualified in Accounting and can therefore bring the clients file completely up to date come end of year and to a point that the clients tax accountant can simply jump in and complete the annual tax returns. By having a Bookkeeper with knowledge in accounting bring the file to such a point, means the tax accountants time is minimised and the bulk of the work is completed at an affordable bookkeeping hourly rate.

Accountants generally specialise in completing income tax returns and provide business advisory services. Unlike bookkeepers, most accountants generally don’t get into the nitty-gritty of your accounting system and get their hands dirty with your books - they look at it from a high level, focus on the things they know the ATO are interested in and prepare compliance reports. 

So if you are looking for a new bookkeeper who can assist with the BAS, day to day accounts, or in bringing the file up to a point in which its ready for a tax agent to jump in and complete the returns, then I suggest you look for a bookkeeper which has Accounting Knowledge. Are they Degree Qualified? Are they a registered BAS Agent? The more you can have your bookkeeper complete at an affordable Bookkeeping Hourly Rate, the better! A great Bookkeeper can help to communicate with your tax agent directly, creating a streamlined and efficient service and saving you money. It can also be the beginning of forming a valuable new business relationship - with someone who can help to see you business grow.

Laguna Bay Bookkeeping are Degree Qualified Accountants and Registered BAS Agents. We offer a modern approach to Bookkeeping, offering insights and reporting to help see your business grow.

The Laguna Bay Bookkeeping Team x

www.lagunabaybookkeeping.com.au  |  hello@lagunabaybookkeeping.com.au