What is Bookkeeping?
What is Bookkeeping?
Bookkeeping is the process of keeping a record of financial transactions a business receives or performs accurately and in a timely manner. Bookkeeping also extends beyond keep track of transactions to a wider range of tasks such as preparing financial reports, preparing tax returns, paying bills, and payroll.
What are the most common tasks of a bookkeeper include?
- Bank Reconciliation
- Processing purchases, sales, receipts, and payments
- Preparation BAS Reports and returns
- Reimbursement Management
- Accounts Payable and Receivable
- Record Keeping
- Setting up accounting systems
What are the common bookkeeping positions?
Bookkeeping has many career opportunities that a person can choose from, these career options can vary depending on the industry you work in. Below is a list of some of the most common bookkeeping career opportunities available in the market:
- Accounts Payable Clerk
- Accounts Receivable Clerk
- Taxation Officer
- BAS Agent
- Accountant Assistant
- Procurement Officer
- Payroll Officer
How to become a bookkeeper in Melbourne, Australia?
There are many accounting and bookkeeping qualifications available online and on-campus in Australia. But the minimum required qualification to start a bookkeeping career in Australia is the Certificate IV in Accounting and Bookkeeping.
This course is part of the Financial Services Training Package and satisfies the Australian Qualifications Framework (AQF) guidelines, and has a duration of 33 weeks which is approximately 7 months. The course can be studied online or face-to-face, depends on what you prefer.
Practical learning is a big part of this course, as it will focus on developing your skills working with real accounting software like MYOB, but that really depends on which institute you choose to study with.
Most importantly, the Certificate IV in Accounting and Bookkeeping Course meets the education requirements of the Tax Practitioners Board (TBA) for BAS preparers from the Tax Agent Services Act 2009, as a Board-approved course in basic GST/BAS taxation principles (GST/BAS course).
What Skills Do I Need to Become a Bookkeeper in Australia?
Pursuing a career in bookkeeping can be fulfilling. As a bookkeeper, you will get the chance to learn about how companies operate and why certain business decisions based on financial records.
Because bookkeeping is considered a critical position within an organisation. There are certain skills beyond training that might be required to help you perform your job more accurately and successfully.
- Strong communication skill
- Great analytical skills
- Numerical accuracy and attention to detail
- Critical thinking
- Good computer and technical skills