Bookkeepers are primarily responsible for data entry and administration, as well as setting up systems. Legally, BAS agents are qualified to provide advice on how tax laws apply to businesses, as well as design and implement a BAS/GST system. English translation: if you are GST registered, you need a BAS agent. If you’re not, you can hire either a bookkeeper or a BAS agent.
Once you earn $75,000 per year, you must register for GST and submit a quarterly BAS. When you need help implementing systems in your business in relation to tax laws and GST or need someone to prepare your BAS for you.
It’s not essential, but it is recommended. A bookkeeper offers peace of mind. Software can help you manage your books. However, it doesn’t make sure your bookkeeping is compliant. Not getting an experienced professional could end up costing you more in the long run.
If you need specific tax advice and provisions tailored to your situation. Alternatively, if you need help with dealings with the ATO.
A bookkeeper focuses exclusively on your bookkeeping! That means they can get the job done efficiently. A great bookkeeper will put in processes that help streamline your business, alert you to any money leaks, and make any corrections necessary so your books are legally compliant.
