| It is a requirement of
every business to maintain a record of all their business'
transactions, in other words, maintain a bookkeeping system.
Hence, a bookkeeper is needed to perform this duty. The
bookkeeper is the one whose role it is to record the financial
transactions. Although it may be done manually, most bookkeepers
choose to use a computerised accounting system such as MYOB or
QuickBooks.
This processing of information by the bookkeeper will allow
economic decision makers to make informed judgments and
decisions regarding the overall performance of the business.
Therefore, it is very important that all this information is
recorded to the highest standards by the bookkeeper, as
inaccuracy of financial information will make it difficult for
the owner (and if applicable, potential investors) to evaluate
the profitability of the business.
The bookkeeper’s role of recording, classifying, and
reporting information regarding the business’ financial
transactions all culminates in the same place – the books (also
known as the ‘accounts’). The bookkeeper will most often prepare
the books at regular intervals, either on a weekly, fortnightly, monthly, or
quarterly basis. The frequency with which the bookkeeper
performs this task all depends on the volume and complexity of
the entity, as well as the amount of transactions they’re
required to process.
As soon as the bookkeeper has finished preparing the
accounts, they will usually pass it onto an external accountant
to be reviewed. The external accountant will go over and check
all of the bookkeeping, and make any required adjustments to the
bookkeepers work. Once they have done this, the accountant
prepares a set of external financial statements in compliance
with the standard's set by the Australian Accounting Standards
Board (AASB).
At Quinns we offer both Accounting and Bookkeeping services.
We understand the value of having a seamless service across bookkeeping
and accounts. Quinns Consultants has a team of highly trained
accountants and bookkeepers, who have the professional
experience and knowledge of accounting policies and principles
to assist you with all your Business Accounting and Bookkeeping
needs.
if you would like more information about our Accounting and
Bookkeeping services, please
complete and submit the Express Enquiry form on the top right
hand side of this page and we will contact you to discuss your
enquiry
or call us on 1300 QUINNS (1300 784 667) to arrange an
appointment.
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