Choose someone to do your accounts
The right accountant or bookkeeper can help you maximise your business income. They also offer a range of professional services that can help with your books and the overall financial health of your business.
Some of the financial professionals you might consider using include:
- Accountant - can help with your business’ financial needs including preparing financial statements, managing your tax and providing you with financial and business advice.
- Bookkeeper - can keep track of your day-to-day financial transactions, look after your banking, chase overdue payments, pay wages and prepare some financial statements.
- Business Activity Statement (BAS) agent - can help you prepare and lodge your BAS to ensure you get it right the first time. They're registered professionals who are specialists in their field.
It’s important to know that although you have a professional to look after your books or accounts, you’re ultimately responsible for any financial decisions.
Read more about where to find financial help for your business.
Note, most professionals that charge a fee to help you should have a relevant registration. Find registered agent on the Tax Practitioners Board (TPB) register.
Check their registrations
Whoever you choose to help with your accounts needs to the right qualifications for the job. The should also be a member of an accounting or bookkeeping professional body.
- Lodging your income tax: make sure they’re a registered tax agent.
- Lodging your Business Activity Statement: registered BAS agents need to do this.
- Investment advice: find a registered financial adviser to give you this advice.
How to decide
Deciding on the right person to do you accounts or give you financial advice really depends on what your business needs.
To help you decide, shop around and ask yourself:
- which one can actually do the job?
- do they have similar business clients to your business?
- are they recommended by others?
- do they charge fees within your budget?
- do you feel most comfortable working with them long-term?