A bookkeeper keeps the day-to-day financial records of a business accurate and up to date. That usually means recording sales and expenses, reconciling bank transactions, tracking what customers owe and what the business needs to pay, and preparing regular reports.

The regular work behind useful numbers

Good bookkeeping connects the paperwork to the numbers in your accounts. In practice, that can include:

• Recording income and expenses and checking that transactions are coded correctly.
• Reconciling bank and credit card accounts so the records match the statements.
• Managing invoices, bills and overdue amounts so you can see what is coming in and going out.
• Preparing payroll records and reconciling payments, where this is part of the agreed service.
• Preparing reports that help you understand cash flow, costs and business performance.

The exact service depends on the business and the agreement. Some businesses need a monthly reconciliation and reports; others need weekly payroll, accounts payable support or help catching up records.

Bookkeeper, BAS agent and accountant: different roles

A bookkeeper maintains the records and can prepare business activity statement information. A person who charges a fee to provide BAS services must be registered with the Tax Practitioners Board unless an exemption applies. An accountant may provide tax and financial advice, prepare tax returns, and help with broader planning. Some professionals hold more than one registration or qualification, so check what your provider is authorised and engaged to do. You can verify a BAS agent through the Tax Practitioners Board register.

Your bookkeeper and accountant can work together: accurate, reconciled records give the accountant a better base for tax and year-end work. For details on BAS agent responsibilities, read our Registered BAS Agent guide.

What to expect from your bookkeeping support

You should know what records to provide, when reconciliations and reports will be ready, who follows up missing information, and how payroll or BAS deadlines are managed. If you are repeatedly chasing updates or cannot explain the numbers in your reports, raise that with your provider.

If you want your books kept current and explained in plain English, talk to About Business Bookkeeping about the support your business needs.