What Does It Take to Be A Professional Bookkeeper?

The establishment of professional bookkeeping associations in Australia in the early 2000’s, was the profession’s first step in putting in place a framework for professional bookkeepers to work and be recognised. The introduction of initiatives such as codes of conduct, professional development opportunities and advocating for the services that bookkeepers provide to the business community, meant that members of these associations could confidently promote the fact that they had a commitment to professionalism and professional development.

Whilst the foundation of what a professional bookkeeper in Australia today still remains true to its roots, there is a need to educate the business community and government on the broader and expanded scope of services and professionalism of bookkeepers today.

Bookkeepers deal with the world of numbers, providing a crucial service to businesses and individuals everywhere. Each day offers a new challenge for bookkeeping professionals which is what makes it such a rewarding career. Bookkeeping today is far more than entering data and reconciling the bank accounts. Bookkeeping is thinking about the needs of the client, thinking about the processes to get a result.

Firstly, what is expected for standard Bookkeeping?

• Processing purchases, payments, sales, receipts.
• Processing payroll and maintaining entitlements and employee records.
• Bank/Credit Card/loan reconciliation.
• Providing reporting for preparation of the BAS.
• Producing reports for both Client and Accountant.
• Record keeping.

What is Good Bookkeeping?

Good Bookkeeping now includes above and beyond this standard process, to ‘think’ more about each stage and ask questions about streamlining process to capture all the relevant information required to produce an accurate result.

The Bookkeeping profession has evolved from a singular focus on data entry to playing a strategic role in helping advance core business goals and react to immense business challenges. Professional development and upskilling are incredibly important, now more than ever, and it is essential to ensure that as a Bookkeeper or BAS Agent you have the necessary skills to meet the needs of your Clients/Business Owners.

What is a Professional Bookkeeper?

• Experienced
  • An independent verification of the quality and quantity of experience held Commitment to professional development. Commitment to professional development A commitment to education, learning and development of skills via continuing professional development.
• Endorsed
  • A member of a professional body, committed to the requirements adherent to that membership including:
    • Acts with honesty and integrity.
    • Acts in the best interest of their clients or employers.
  • A professional bookkeeper in practice will be a Registered BAS Agent.

The basics of The Bookkeeping Cycle is the core structure of our industry. ICB believe it is always beneficial to refresh your knowledge of the basics. You may find a new way of doing things or a process that needs updating.