BAS Agent vs Bookkeeper

You May Be Thinking… What’s the Difference?

Firstly, not all Bookkeepers need to become BAS Agents! A Bookkeeper can also be a BAS Agent! However, if a business requires a contract Bookkeeper to provide a BAS service, they must be a registered BAS Agent. Only a BAS Agent can interact with the ATO and your obligations to the ATO on your behalf unless they are your employees.

A Bookkeeper and BAS Agent play an integral part in any business. They are engaged with an expectation to keep or assist in keeping accurate and up-to-date financial records for every month, quarter, and at the end of the financial year.

However, it is imperative to note that there is a distinct line between the two roles and responsibilities, as detailed below.

Responsibilities of a Bookkeeper

Bookkeeping can look different from business to business. However, the most common tasks that a Bookkeeper will generally undertake include:

• Record financial transactions
• Bank reconciliations
• Manage bank feeds
• Process accounts receivable
• Process accounts payable
• Prepare financial reports
• Work with the business BAS Agent / Accountant to assist with taxation compliance.
• Work with the Business owner or Business Management on:
  1. Some human resource functions
  2. Some payroll functions*

Responsibilities of a BAS Agent

A registered BAS Agent must have the qualifications and experience outlined in the Tax Agent Services Regulations 2009 (TASR). Refer to the Tax Practitioners Board (TPB).

BAS services / Advanced bookkeeping services include but are not limited to:

• ABN, TFN Business name registration
• GST, PAYG registration
• Software installation and training
• Single Touch Payroll (STP) processing
• EOFY reporting for STP
• Superannuation
• Taxable payments annual report
• Preparation and lodgement of BAS/IAS – Monthly or Quarterly
• Complex budgeting
• Reporting – quarterly review/year-end review
• Representation in dealing with the Commissioner of Taxation

Note: A BAS Agent can perform all the duties and responsibilities of a Bookkeeper and many other functions and is usually at an Advanced level of bookkeeping knowledge and experience.

Contracted Bookkeepers providing BAS services for a fee must be registered BAS Agents. Additionally, undertake 30 hours of continuing professional education programs throughout each year.

Summary

As a Business Owner, if you want your contract Bookkeeper to complete and undertake BAS services, you must engage a registered BAS Agent.

If you are unsure if your bookkeeper is registered, please refer to the TPB website and search the register.

Look for this symbol, which includes the Agent’s registered BAS number.