Here, you can find all of the blogs we’ve written – including our expert insights – relating to the topic of bookkeeping.
Are accounts receivable a liability or asset in Australia? The simple answer is that they’re considered current assets.
As a seasoned bookkeeper, I know how vital these assets are for ensuring liquidity and fostering growth.
In this blog, I’ll explain why and how these entries on your balance sheet are crucial to your bookkeeping practices.
I’ve often been asked about the differences between bookkeeping and payroll, and whether a bookkeeper can handle payroll tasks.
Let’s clear up some confusion right off the bat: yes, a bookkeeper can do payroll, but there are distinct differences between the two roles.
Here’s a simple breakdown to help you understand each one better.
Bookkeepers generally cost between $300 to $1000 per month, depending on the size of the business and the specific needs it has.
Smaller businesses can expect to pay between $300 and $600 per month, while larger businesses pay more as their needs are greater in terms of the number of transactions processed, accounts to be reconciled, and people on the payroll.
Below, I’ve gone deeper into the inclusions at varying price levels and the value a bookkeeper offers businesses regardless of their size.
As an accountant with over 10 years of experience, I’ve frequently encountered confusion about the roles of bookkeepers and accountants and whether they are different in Australia.
Simply put, bookkeepers manage the day-to-day financial transactions, while accountants provide strategic financial advice and tax planning.
For a more detailed explanation using examples of how these two roles function within a business, read on.