Am I paying too much for my Bookkeeping?

I hear this question asked a lot.  The question should be “Am I getting value from my BAS Agent?”  A good BAS Agent will know the detail of your business – the day to day running.  They will know what your usual turnover and expenses are.  Know your accounts and software and your business needs.  Your BAS Agent should be a “trusted advisor”.

A Registered BAS Agent is qualified, insured and maintaining their currency of knowledge through industry activities and Association membership.  These are basic requirements of being a professional service provider.

There are still business owners who have an outdated view of what bookkeeping is.  Yes, it used to be a job that was done for a low cash fee, without requirement for qualification or registration and insurance.  Mainly consisting of historical data entry.  It was the accounting industry that lifted the standard of bookkeeping, resulting in the BAS agent regime being created back in 2009.  Since then, bookkeeping has been a part of the Financial Services industry and the standard of work has improved.

Now, in general, qualified Bookkeepers/BAS Agents, have greater comprehension of business financials and vastly different technology allows us to accomplish a lot more for the business owner.

Nobody questions tax agents charging hundreds of dollars an hour.  Why do bookkeepers/BAS Agents get questioned for charging $60 or $80 an hour?  Part of our responsibility as BAS Agents is to maintain our professional development (learning), plus as a member of a professional association we are required to abide by their code of conduct as well as the Tax Practitioners Board code of conduct.

A BAS Agent generally provides support, certainty and understanding to business owners.  We verify the correct coding of transactions to ensure continued compliance with the GST laws.  We have an awareness and understanding of your real time financial position, and can provide advice around how to leverage this to help the business succeed.

Tracy Sellers is a Registered BAS Agent and Certified Bookkeeper and the owner of Ironbark Industries Bookkeeping. You can contact her for more information at
M: 0412 853 898
E: ironbarkindustriesbookkeeping@iinet.net.au
or schedule an appointment https://ironbarkindustriesbookkeeping.as.me/ 

 

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