Bookkeeping Checklist

So, you already have a bookkeeper. That’s a start. Answer these short questions to find out how your bookkeeper is doing:

  • Is the bookkeeper a registered BAS Agent?
  • Does your bookkeeper communicate with your accountant?
  • Does your bookkeeper provide you with a regular profit and loss report and balance sheet?
  • Does your bookkeeper provide you with a list of requirements each week/month?
  • Is the balance sheet up to date?
  • Does your accountant submit a GST revision at the end of the financial year?
  • When you contact your bookkeeper, are you confident you will receive an answer on the spot?
  • Does the bookkeeper keep you up to date about what he/she has done each reporting period?
  • Does your bookkeeper give you suggestions about ways of saving money or creating better systems?
  • Do I really need a good bookkeeper?
  • After all, isn’t it just basic data entry?

If, in answering these questions you are not sure if your bookkeeper is right for you, contact us for a free Health Check. We can check the work your bookkeeper has done against BAS compliance requirements and give you a report.

We have a lot of experience reading balance sheets, profit and loss reports, charts of accounts etc. and are able to find most errors in a few minutes. For your peace of mind, a health check is recommended. If your bookkeeper is making errors, you could be paying too much on your BAS and your accountant will need to charge you extra at tax time to correct your figures.

We did a health check for a customer recently and found many issues with the way their bookkeeper had coded their import invoices for one. The client asked us to correct the past financial year and we were able to retrieve an ATO refund of just over $12,000 in overpaid GST. Contact us for a free health check.