FAQ

I am a registered BAS Agent, so I can lodge your Business Activity Statements, Instalment Activity Statements and TPAR.

Definitely. Many of my existing clients have come to me with a mess I need to tidy up initially. Cleaning up a mess (no matter how bad you think it is) is my favourite. It’s like a big puzzle I need to solve; I get a lot of satisfaction out of getting everything all tidied up. I will get you back on track, fully reconciled and with up-to-date lodgements in next to no time.

I can do as much or as little as you like. I am there to support you, whatever that looks like. I have clients ranging from full service (I do everything) to only Quarterly BAS lodgements, to just being available to troubleshoot issues when they get stuck, and everything in between.

Great question and one I see many people unsure about.

Your bookkeeper and accountant work closely together but have two different functions.

Your bookkeeper will look after the day-to-day activities such as:

• Record income and expense transactions.
• Bank reconciliations.
• Reconciliation of clearing and liability accounts.
• Payroll including withholding tax and superannuation.
• Provide BAS services (if registered as a BAS agent) and Instalment Activity Statements (IAS).
• Superannuation Lodgements.
• GST calculations and Lodgement.
• Cashflow and debtor management (debt collection).
• Preparation of financial statements.
• Xero/MYOB software troubleshooting.

An accountant is typically engaged on an annual basis both before and at financial year end.
Your accountant will:

• Prepare company and personal tax returns.
• Offer tax planning services.
• Financial forecasting and risk analysis.
• Provide tax advice.

BAS agents are bookkeepers who are authorised by the Tax Practitioners Board to lodge Business Activity Statements (BAS), Instalment Activity Statements (IAS) and Taxable payments Annual Reports (TPAR), but are not authorised to provide services relating to Income Tax. For that you will need your accountant or a registered tax agent who can offer financial services relating to income tax.

A bookkeeper will charge less than an accountant, so it’s worth utilizing the help of a bookkeeper for your day to day activities. Your accountant can then be brought in annually for tax planning (if required) and to lodge the company tax return.

I work with a variety of accountants for my clients. Having an accountant you like and trust is a big deal. My job is to make your life easier so I will work with your accountant to ensure your books are up to date and ready to be handed over.

That being said, if you are in need of a new accountant I have a handful that I recommend and would be happy to make an introduction. (I recommend them because they do great work and don’t charge like a wounded bull, I do not get, nor would I accept any enticement to make any recommendations.)

Many bookkeepers will offer you a fixed price (it is very standard in the industry). To offer a fixed price they need to quote you so high that they know they will not be working for free. (No one wants to work for free so I understand this part)

Two reasons I dislike the fixed fee model:

• The fixed price model incentives the bookkeeper to do as little as possible, which improves their profitability. This means you pay for work that was not done.
• As soon as your business changes (change in processes, business starts growing, anything that requires a greater workload for the bookkeeper) they will want to re-quote you. What a pain !!! (notice they never re-quote if the workload goes down tho …. Hmmmm)

We operate on an hourly rate basis. We quote you a rate for general bookkeeping and a rate for lodgements preparation (BAS, IAS, TPAR, Payroll Tax etc) at the beginning of the engagement.

Then we do whatever you need us to do – which can be as much or as little as you need. This gives you flexibility to push work to us if you are under the pump, but also retain tasks if you want to control costs. This model means we don’t need to re-quote you any time there are changes in the business / workload and we can be very responsive to whatever you need to get done.

Our invoicing is very transparent. You will get itemised notes on all work done on your file and an invoice at the end of the month.

I am a certified advisor for both Xero and MYOB.

Yes, Kate is am fully accredited with the Tax Practitioners Board

BAS Agent Number 26181340

My usual process is to initially have a quick call with you, to get an idea of what I can help you with / what your concerns are.

From here I need to have a look at your Xero or MYOB file. This gives me an indication of where things are up to and how things are currently done.

After I have had a look at your file, I can jump on another call or schedule a coffee if you’re in Brisbane, to discuss areas of improvement, and how I can help moving forward. This would also include a detailed breakdown of the initial work required (if any) and our ongoing fee/time estimate.

I am based in Brisbane, but I look after my clients Australia wide. I have clients all over Australia. From rural Victoria to Canberra, Perth, Sydney, Melbourne, and all over Queensland. Given so many things are virtual now, looking after clients in another state is just as easy as if they are next door.

To invite us into your Xero file, go to Settings > Users > Invite A User. Please invite Kate O’Mara (kate@bizangels.com.au) as a Business Advisor with Payroll Admin access. Then shoot us an email with your contact details and a quick rundown of your requirements. I will review and come back to you with our recommendations.