Frequently Asked Questions

Below are some of the most common questions asked about bookkeeping services for small businesses.

What’s the difference between a bookkeeper and an accountant?
There is often a misconception that bookkeeping and accounting is the same thing. WRONG! Both are essential business functions but there is a distinct difference between them. In short, a bookkeeper is responsible for recording day-to-day financial transactions, whilst an accountant provides advice at a higher level such as tax planning, structuring of finances and compliance. An accountant’s role is about interpreting, analysing and reporting the financial data, provided by a bookkeeper.
Bookkeepers and accountants share common goals but have their own stage in the financial cycle. Bookkeeping typically comes before accounting, but their functions may overlap at some point.
Do you look after clients anywhere in Australia?
YES! We have bookkeepers all over Australia who can look after your business, and because we use cloud based software we can look after you no matter where you located.
Can I keep using my existing accounting software if I hand over my books to Bookkeepers Store?
Sure. If your software is working well for your business then there’s no reason to change. Our bookkeepers are able to work with Xero, QuickBooks and MYOB. We particularly like Xero, as do our clients, because it can be accessed from anywhere, is easy to use and lets us use other software for receipt scanning and uploading, keeping paper to a minimum.
Can any bookkeeper prepare and lodge my BAS statement?
No!!! Whilst many bookkeepers are great at keeping your accounts in order they are not qualified to prepare your BAS statement. BAS is a tax declaration and therefore it’s imperative that it’s 100% correct. You don’t want to suffer the penalties! Always ask a bookkeeper if they have a BAS Agent registration so that you’re protected. Bookkeepers Store professionals are experienced and qualified with BAS Agent registration, so rest assured we have you covered.
Why should I outsource my bookkeeping?
Most small business owners are great at what they do, but they are not necessarily great at managing their books. Just as you may outsource your marketing function, outsourcing your bookkeeping is a great way to create more time to focus on what you do best while ensuring your finances are kept in order.
Why would I hire an off-site bookkeeper rather than put one on staff?
Hiring a skilled employee costs time and money. Hiring an off-site bookkeeper has the following benefits:
Saving Money – When you hire a Bookkeepers Store bookkeeper, you only pay for what you need; you are not paying someone to chat with employees and drink coffee! You also avoid all the hidden costs of employment such as superannuation, leave entitlements, training, equipment, consumables.
Focused – A bookkeeper’s work is very detailed – they need peace and quiet to concentrate. It can be hard if you have a bustling noisy business for a bookkeeper to sit in the corner and do their work successfully. An off-site bookkeeper will be able to dedicate more focused time to your business.
Scalability - If your business is expanding, so too can the amount of time the bookkeeper spends on your business. If you are cutting costs or contracting, you can adjust the bookkeeper’s workload accordingly. If you have a bookkeeper on staff this is much harder to manage.
Lower Turnover – Bookkeepers often leave a business because there isn’t enough work for them or they feel under-appreciated. Losing someone with intimate financial knowledge of your business can be very difficult. Hiring an off-site professional will reduce the likelihood of this financial turmoil
Do I need to get my books in order before handing them over to a bookkeeper??
No! You wouldn’t be the first owner of a shoebox of receipts we have seen! We appreciate how busy life and business can get and bookkeeping is not your priority, but leave it with us and we’ll get you up-to-date quickly. Regardless of the state of your books, we can help.