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What does a Bookkeeper do?

What does a Bookkeeper do?

There are many assumptions as to the role of a bookkeeper.

Google searches come up with the following:

  • Day-to-day data entry
  • Entering receipts and invoices
  • Receive payments from customers
  • Reconciling bank accounts
  • Generating financial reports

Google is correct in assuming that the above tasks are carried out by a bookkeeper. But, behind the scenes, did you know they do much more than this?

It’s not just about the data entry, it’s the consistency, quality and knowledge of accounting principles that makes an amazing bookkeeper (like those at Aegis Business Services) shine brightly from the rest.

An amazing Bookkeeper will also provide the following services:

  • Consistent coding of purchases and sales to ensure the correct GST amount is entered.
  • Review of GST treatment at the end of the month or quarter (if coding is not completed by bookkeeper)
  • Payroll reconciliation – involving a review of PAYG withholding, superannuation and other payroll deductions, ensuring they are correct against the profit & loss statement and the balance sheet.
  • Accounting for chattel mortgages (purchase of motor vehicles) and equipment finance including accounting for unexpired interest.
  • Accounting for ATO payments and debts.
  • Accounting for premium funding for insurances (business insurance etc.).
  • WorkCover wages reporting
  • Statutory trust accounting (lawyers and real estates)
  • Regular management reports

At Aegis Business Services these are our minimum standards.

By Heidi Owens, Bookkeeper, Aegis Business Services

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