About
How it all Began
At the young age of 19, I sustained a workplace injury. My employer at the time simply didn’t look after me, so I needed something to do.
Whilst I recovered, I began to help my uncle out with his bookkeeping. I would love to say it was sorting out just a shoebox full of receipts but in reality it was a big old tv box full of receipts! It was enormous!!!
Luckily, I love a challenge!
That was back in 1999, before the GST was introduced. Needless to say, once the GST came in the following year, he needed more help than ever.
I kept telling myself, it was a great side hustle whilst I worked on my dream of being a writer. As it turns out I’m pretty good with numbers and I love, love, love to reconcile. And so began my journey as a bookkeeper and, eventually when the industry was legislated, a professional BAS Agent.
Why Bookkeeping?
Keeping Things Seperate
There is a myth that bookkeepers don’t work well with accountants and accountants don’t like bookkeepers, but in my experience that is far from the truth. I’ve been very fortunate over my career to engage with some wonderful accountants, who, like me, have only their clients best interests at heart.
The truth is that the good ones work really well together and chat regularly. Communication is key
The Book Keeper
You need a bookkeeper to keep track of your day to day numbers, and look after your payroll and BAS obligations. That’s Noughts & All!
The Accountant
You also need a tax agent to analyse and report on your data, complete your business and individual taxation and provide expert advice.
Why Use Both?
The benefits of keeping your BAS Agent & Tax Agent separate, rather than operating out of one accountancy firm, which has become a popular model in recent years is that it eliminates conflicts of interest. If the same firm handles bookkeeping and tax matters, there is less independence and there is risk that the benefits provided through an (in)formal audit are diminished.
Having an extra set of eyes peeled on your financial data by using a BAS Agent separate from your Tax Agent Accountant, means you will benefit from potential errors and oversight. These errors can happen from both ends and when you have a great bookkeeper and a great accountant whose priority is you, the client, then they will easily be able to communicate and work together to solve any problems.
Keeping it Professional
It pays to check if your Bookkeeper is a registered professional – not only is it illegal for an unregistered bookkeeper to provide some services but it also exposes your own business to a litany of issues. If it doubt, please read on and make an informed decision about how you run your books.
Nearly a decade after the introduction of the GST, the Tax Practitioners Board was formed to address the issue of sloppy bookkeeping work being performed and submitted to the ATO by unskilled bookkeepers.
Poor understanding of the Goods & Services Tax was a massive problem and industry groups supported the notion that laws needed to be introduced to ensure bookkeepers doing the right thing were recognised as professionals.
The Tax Agent Services Act 2009 (TASA), which established the Tax Practitioners Board, provides for the registration and regulation of tax agents, BAS agents and tax (financial) advisers, and importantly to protect consumers.
Now how does it affect you as someone looking at using the services of a bookkeeper for your business?
It affects you in a positive way because it means you can be assured that your bookkeeper must be:
Registered with the Tax Practitioners Board
Meet a certain eligibility criteria including formal education and experience requirements
Be a fit and proper person who is over the age of 18
At Noughts & All I encourage any new or potentially new clients to ask for a copy of our BAS Agent Registration certificate, details of Professional Association Memberships and, of course, a copy of our Certificate of Currency for Professional Indemnity Insurance.
If you don’t ask to see these credentials and you end up paying an unregistered bookkeeper a fee for providing any kind of bookkeeping work where GST is concerned you are walking on a minefield. Not only is it illegal but, quite frankly, it is downright silly. You will not be covered by insurance and you also have no assurance that they have any idea on what they are doing, or advising you on and that can lead to a very costly lesson – fines, penalties and then the rectification costs to have a suitably qualified professional undo the mess and make it right.
BAS Agent services are tax deductible so don’t be tempted by someone who is offering you a cheaper rate than most – you will pay a much higher price in the end.
More than 10 years ago I was fortunate enough to meet Sara Berry. Since that time all my bookkeeping problems have been taken over. Sara offers a marvellous, friendly, efficient , affordable and highly skilled service.
My accountant loves the data that Sara provides …she uses this to produce my Annual report and financial statements, thereby saving me considerably in accountancy fees .
I heartily and unreservedly recommend Sara and her professional service.
Sara has been an asset to our business for over five years and has been proactive in keeping us on track with our accounts and BAS obligations. She has always provided a reliable, excellent service and we value the expertise and advice that she is able to supply. We feel we have had value for money with the service and that she has gone out of her way to assist in liaison with our accountant and the ATO when needed. Sara is approachable and easy to work with and we highly recommend her as a bookkeeper.
Sara was recommended to my business in November 2011. At the time our previous long term bookkeeper had left with health issues & we had tried to muddle through the implementation of new accounting software but within months things quickly didn’t reconcile & got out of hand.
Sara came in on a regular basis, and within a short time had everything back under control, including new systems in place for some areas of the business which included two service stations, two Subway stores & a Cafe.
Sara is proactive in her approach to the bookkeeping, she liaises well with our established managers in the various stores & her business has now become an integral part of our business moving forward.