Looking to add another string to my bow.

[Gordon Gekko]

Hi All,

Haven't been here in a while, always nice to come back.

I work in the Timber trade area as a Sales Rep, selling to builders. I love the job, out and about, talking to builders, helping them, selling, the "hunt" for a sale, it's all great.

But times are tough and I feel that I need a safety net just in case my job goes pear shape.

So I am looking for something that I could do afterhours that I could earn a bit of extra money and maybe one day turn it into a business.

I have come up with 3 things that I am good at and understand:
- MYOB
- Computers
- Excel

I'm not an expert at these but I do know my way around. So I was thinking about doing a Cert IV in Accountancy and a MYOB Course to broaden my knowledge.

Does anybody use a bookkeeper, that comes in once a month to help with the books? Or does anybody have a Bookkeeping business?

Cheers

GG

PS For those that know me from 2 years ago, my baby girl (who is a heartkid) is now a healthy 2 1/2 year girl with attitude

 

[Rolf Latham]

Hi All,

Haven't been here in a while, always nice to come back.

I work in the Timber trade area as a Sales Rep, selling to builders. I love the job, out and about, talking to builders, helping them, selling, the "hunt" for a sale, it's all great.

But times are tough and I feel that I need a safety net just in case my job goes pear shape.

So I am looking for something that I could do afterhours that I could earn a bit of extra money and maybe one day turn it into a business.

I have come up with 3 things that I am good at and understand:
- MYOB
- Computers
- Excel

I'm not an expert at these but I do know my way around. So I was thinking about doing a Cert IV in Accountancy and a MYOB Course to broaden my knowledge.

Does anybody use a bookkeeper, that comes in once a month to help with the books? Or does anybody have a Bookkeeping business?

Cheers

GG

PS For those that know me from 2 years ago, my baby girl (who is a heartkid) is now a healthy 2 1/2 year girl with attitude

there are a few here that have a book keeping biz

Glad to see the important stuff is all good ! healthy kids

ta
rolf

 

[pennyk]

great to see you back, and really pleased that your daughter is going well.

When I ran a business, I employed an office manager who also did accounts, using MYOB. But i used a consultant to set it up correctly. If MYOB is set up incorrectly, for things like inventory, it becomes almost impossible to use.

 

[depreciator]

There is plenty of work for book keepers - well, there is in Sydney.

I know someone who started doing the books for a butcher. Then another butcher got wind of that and used her, too. Now she does a group of butchers.

Lots of industries have idiosyncrasies and I'm guessing small businesses like a book keeper who is sort of up to speed on what they do.

I know a plumber who uses a book keeper once a fortnight. He hates paperwork and just collects everything in a box and the book keeper comes round and sorts it all out. I'm betting that book keeper does would for a bunch of tradies. Ask the tradies you talk to how they tackle their paperwork.

You need to be a Tax Agent now to do BAS statements, but you can do all the other stuff.

 

[Corey Batt]

If you are considering going down the bookkeeper route, or any small business really, I'd check out: www.flyingsolo.com.au

Great info source, very active forums and I have seen quite a number of book keepers on there, so you could potentially gain a lot of knowledge and tips from there.

Good to hear the little one is doing well.

 

[Mooze]

We have a part timer we use for our accounts - would much rather a book keeper, but given the specific area we work in (outdoor events) it's hard finding someone!

We'd happily scan everything and send through but need someone that understands the industry.

We've worked with a consultant (similar to PennyK) to set up MYOB correctly but it's still a bit of a stretch given we're so different to everyone else (as every business will tell you that isn't strictly retail).

 

[Ausprop]

heaps of demand, will be no prob gettign work. last time i got quotes for this was around $55/hr, probably more now and they dictated when they were available

 

[Olly]

I went down this route just last month with the idea of running a bookkeeping, accounting business from home doing books, BAS and Tax Returns etc. After speaking to TAFE re: Cert IV in Accounting they suggested I talk to the Taxation Practitioners Board to see if I met the criteria as you have to be registered with them now. I failed on all accounts!! (No pun intended.) Quals were out of date, didn't have 8 (recent) continuous years working in an accounting environment, wasn't one of the 'acceptable' occupations, didn't have some particular degrees, had no experience doing BAS and so on.

Right, forget Tax Returns and BAS I say, I'll just do bookkeeping then. And the answer was NO! Because all the rest is derived from YOUR figures and has to be done by a qualified (registered) person, and that anyone doing this as a business without the overseeing of a person registered with them is breaking the law!

I'm all for a bit of regulation to keep the shonky's at bay but really!!!! What about all the tradie businesses where the wife or friend etc often does the books I asked. Well, if they get found out they're in trouble he said.

But bookkeeping/accounting hasn't changed in 100's of years I argued. Just Tax Returns, GST and BAS are new. In fact, you don't even have to manually add numbers up now, you just press a button and software does it for you, not to mention minding your inventory, making an invoice etc. I already have bookkeeping quals (old though) AND used to teach it AND have used it off and on over the years in other areas just not in an accounting environment! Can't I sit a test or something and if I pass be allowed? The answer was NO.

I was devastated as I'd had my heart set on it. What a joke. I can become a qualified counsellor (another possibility) after a 12-18 month online course and open my own business without jumping through any hoops, and be responsible for peoples minds, dreams, attitudes, relationships, addictions, parenting skills, grief and so on, but don't let me near your books I might press the wrong button!

 

[Aaron_C]

I agree Olly - it is ridiculous. I must be in breach of the law for doing my own BAS and GST

 

[The Fence]

This all points to the litigious society we now live in.

Very very sad the way the world is going.

We are all meant to be perfect little people and no mistakes whatsoever no matter what never ever make a mistake or I will sue the hell outta you.

Really makes me want to go live a primitive life in the never never.

 

[Deena]

Gordon, how times flys, when I saw your posting, the first thing I thought of was I wondered how your little girl was. 2 1/2 years old, wow. Good to hear she is doing well

 

[BMan]

I'm all for a bit of regulation to keep the shonky's at bay but really!!!! What about all the tradie businesses where the wife or friend etc often does the books I asked. Well, if they get found out they're in trouble he said.

you could do there books etc they just have to sign off on the bas etc themselves you cant sign off on it, i think you need to be the registered owner or an accountant to sign off on it
someone who knows what there doing is going to do it better than the small business owner that doesnt even like doing the paper work

 

[Gordon Gekko]

Thank you to all for your replies.

Olly, that is an amazing and sad story. I will have to look into it all closely.

So if I become a MYOB Professional but still with no Accounting qualifcations, does that mean I can't help people with their books?

Cheers

GG

 

[depreciator]

The Tax Practitioners Board is something that came into being in 09. I believe it was mainly instigated to try and regulate the 17,000 - sometimes unqualified people - doing BAS statements.
People who do Depreciation Schedules also got caught up in it. We've been Tax Agents for a couple of years now. The logic was that we produce figures that people then go on to use in their tax returns so we needed some scrutiny. It did manage to weed out some of the small dodgy operators in our industry, but not some of the larger ones doing dodgy stuff.
Gordon, I wonder whether there still might be the opportunity for you to get people's stuff in order before it goes to a book keeper. So you'd be sorting through stuff and entering it i.e. not making any determinations.

 

[dan c]

Right, forget Tax Returns and BAS I say, I'll just do bookkeeping then. And the answer was NO! Because all the rest is derived from YOUR figures and has to be done by a qualified (registered) person, and that anyone doing this as a business without the overseeing of a person registered with them is breaking the law!

I'm all for a bit of regulation to keep the shonky's at bay but really!!!! What about all the tradie businesses where the wife or friend etc often does the books I asked. Well, if they get found out they're in trouble he said.

The second part first. Anyone in Australia can give tax advice, but you have to registered to CHARGE for tax advice. A wife or partner who is doing their partner's books is fine, because (presumably) they aren't charging for it.

It's why when real estate agents, funeral directors (really) and (dare I say it) mortgage brokers give incorrect advice, they aren't breaking any laws, because they haven't charged for it. Sometimes, this free advice ends up costing the client a significant amount.

I know of plenty of bookkeepers who would be in your situation, and they are still providing their services for their clients. You couldn't do the BAS or give advice, but data entry and reconciliation services should fall outside the new registration requirements.

 

[Olly]

Thank you to all for your replies.

Olly, that is an amazing and sad story. I will have to look into it all closely.

So if I become a MYOB Professional but still with no Accounting qualifcations, does that mean I can't help people with their books?

Cheers

GG

I thinks it's no if you want to work within the law. Of course, doing something on the sly and getting paid CIH is up to you and whoever's books you're doing. Basically, your accounting, BAS & tax returns have to be signed off as being true and correct, but the only people who can do this have to be registered with the TPB. People who are registered with the TPB won't sign off on this declaration if they didn't prepare the bookwork themselves or it was done by someone they have responsibility/accountability for. These final figures for BAS and tax returns of course are derived from the work done by the bookkeeper (you) who isn't registered and therefore doesn't have the right to do the declaration.

http://www.tpb.gov.au/ Have a look around their site or give them a call to clarify but that's basically what I came away with from my call to them.

 

[china]

My present bookeeper is a qualified accountant who works part=time for an accounting firm. She runs her own business on the side as a bookeeper and comes to my office once a month to do reconciliations and generate the BAS. She also generates group certificates and does rollover at the end of financial year. She charges me 60 dollars an hour + GST. She was recommended to me by my accountant who does compliance work for me.

 

[Olly]

The stupid thing about it is school office workers do the schools BAS - no probs. Don't know whose quals they're flying under. My sister is one of these people. Never done any sort of bookkeeping or accounting course. Her school books would be limited to keeping track of money coming into the school via fees, fundraising etc. and of course expenses. No P&L, no balance sheet etc. No wages to do, doesn't even have to keep records of, sickies, holidays etc. Did a 1 lesson course on BAS when it came in. They're easy she says - yes, I'm sure they are I snarl. Although there is one question apparently that she has never known whether to say yes or no to so she leaves it blank and has never been questioned. She's just retired and had to show the new person how to do the books, and so it goes on......... sigh. My sister could probably register with TPB without a hitch because she's worked in an 'accounting' environment for donkeys years. The whole thing is a bloody joke, and I'm obviously still seething over the whole thing.

 

[Aaron_C]

I don't think you need to be licensed to calculate the actual BAS. You do need to be registered/licensed, however, to lodge it on behalf of a client.