Clients’ expectations have changed, thanks to paradigm shifting options available in the cloud.
Bookkeepers and particularly BAS agents need to rise above the routine transactional bookkeeping work and engage the following for their clients in Australia
1. Design the compliance system for a client around GST, the other indirect taxes on the BAS and payroll matters
2. Review the reports of a business and provide certainty about the obligations and entitlements of that business
BAS agents and Bookkeepers today are required to increasingly involve with analysis and interpretation more than mere data entry. In the current business environment, being an advisor to the client will definitely gain competitive advantage.
Professional Bookkeepers today can qualify as tax agents and aspire to play the role of advisors of the performance of their clients’ business. Technology, particularly cloud applications like Xero today has ushered in a new paradigm – a shift away from analog, slow, costly, localized, paper-based accountant-centric system to a digital, fast, global, cost-effective performance centered system. Bookkeeping ecosystems can take advantage of the new system by enabling bookkeepers to cope with and grow in today’s environment.
The Institute of Certified Bookkeepers, Australia classifies three levels of engagement for a bookkeeper today:
1. Level 1: Record keeping and processing
2. Level 2: Debtors/Creditors; Banking
3. Level 3: Wide range of bookkeeping areas like GST advice and other business advisories
We all understand that mere data entry is going to be valued lesser and lesser. A new breed of virtual talent that performs in the rapidly evolving cloud ecosystem is the modern bookkeeping firm owner’s best execution team.
StylusFMS can team up with you to operate your bookkeeping and accounting processes at Level 1 and Level 2 with high responsibility and sense of ownership in a Virtual Engagement.
Our team is trained and experienced in accounting and bookkeeping for Australia and can free you up from transactional bookkeeping in the cloud, straighten messed up books to up to date status as well as undertake Tax preparation work including BAS, PAYG, GST preparation under the supervision of a registered BAS agent.
What we do at StylusFMS is provide services that leverage the bookkeeper’s ability in the following 4 areas:
1. Focus more on clients business performance and become a trusted advisor.
2. Increase effective rates as they move higher in the value chain.
3. Handle sudden/temporary surges in work requiring scale.
4. A strong technology understanding and support to take full advantage of cloud-based applications.