What Do Bookkeepers Do
Bookkeepers are the ultimate accounting all-rounders, as it’s their job to keep track of every dollar and cent that comes and goes from a business. They’re responsible for ensuring that employees get paid, that those bill payments are made on time and that expense reports are filed, along with keeping the company’s financial records up-to-date and accurate.
In Australia, bookkeepers are also often tasked with filing Business Activity Statements (BAS), which are crucial tax reports that every business is legally required to file each year. To file BAS paperwork, bookkeepers must first be registered with the Tax Practitioners Board as a BAS Agent.
Bookkeeping in Australia
Approximately 115,000 bookkeepers are currently employed throughout Australia, 92.5% of whom are female. The majority of Australia’s bookkeepers work in Victoria, followed by New South Wales and Queensland. The largest age group for bookkeepers are those aged 45-54 years (29.9%).
Bookkeepers generally work business hours in an office setting, although thanks to cloud computing, many bookkeepers are now choosing to work from home. The average workweek for full-time bookkeeping is 38.8 hours long and the average salary is $62,425 per year.
Overseeing a business’s financial records is a big responsibility, which is why the majority of bookkeepers have the backing of quality education. In fact, 65.5% of Australia’s bookkeepers have a certificate III level credential or higher, with almost 20% having attained a bachelor level degree.
A TAFE bookkeeping course will make getting the skills and confidence you need simple, through advertising a broad range of Australia’s finest bookkeeping programs, ranging from payroll, accounting and finance through to MYOB courses online. Best of all, whether you study bookkeeping in Melbourne, complete a TAFE accounting course in Sydney or take an online bookkeeping course, your credentials will be recognised right across the country.
Certificate level programs are one of our most popular options, as not only can they be completed in anywhere between six months to two years, but they cover everything from preparing financial statements and maintaining inventory records to OH&S requirements. The benefit of undergoing a course through correspondence means that you can study in your own time, and according to your schedule requirements. That means that a certificate can take less time depending on your study speed. In Australia, to register as a BAS Agent, you’ll need to complete either a Certificate IV in Bookkeeping or a Certificate IV in Accounting, each of which can lead to roles such as bookkeeper, accounts clerk and payroll officer.
Bookkeepers looking to advance their career prospects beyond entry-level roles should consider a diploma level program, as this can be a great way to boost your skills and increase your earning potential whilst opening the door to further opportunities. A Diploma of Accounting, for example, can lead to roles ranging from BAS agent and tax agent to professional accountant and is also perfect for those interested in handling the books for their own small business.
Diplomas cover a wealth of information, such as preparing financial documents, using and interpreting spreadsheet data, managing budgets as well as making forecasts. These skills form an integral part of any organisation, and the information you can provide is essential in future business performance, meaning you will be a highly- regarded member of any company, small or large.
One of the highest qualifications most undertake in the finance and accounting fields is a bachelor degree. These comprehensive courses offer a magnitude of knowledge to every student and can take three to four years to complete full- time. Bookkeeping forms a major part of courses at this level, such as a Bachelor of Accounting, but a wealth of knowledge in other areas is also taught. From evaluating, analysing and communicating data and their importance through to developing skills in time management and presenting, a Bachelor of Accounting is a highly sought after qualification that is attractive to every business.
The Future of Bookkeeping
Bookkeeping has changed a lot over the years, from being a pen and paper-based profession to one that’s increasingly digitised. For instance, cloud computing and high tech software have made it easier than ever to keep track of all those numbers and, thus, the role of a bookkeeper has grown to encompass additional realms, such as that of a trainer, consultant and analyst.
As technology continues to advance, bookkeeping is expected to evolve even further, with many predicting it will soon touch upon areas such as wealth management, financial planning, tax consulting and even superannuation.
The number of people who are employed as Bookkeepers as their primary career is about the same as 5 years ago. It is projected to stay about the same over the next few years, with about 50,000 job openings. This is mostly as a result of turnover, however this also accounts for new jobs being created.
Is a Career in Bookkeeping Right for You
To be a successful bookkeeper you need to be good with numbers, have high problem-solving skills and pay attention to even the smallest of details. Bookkeepers must also be extremely organised, comfortable working on computers, as well as someone who can thrive working alone. You’ll certainly need to have plenty of patience too; after all, you’ll be dealing with clients who aren’t quite so skilled at keeping all those crucial facts and figures in order.
If you think you have what it takes to thrive as a bookkeeper you’ve come to the right place because here we have a huge range of quality programs designed to suit your needs and lifestyle. Regardless of whether you want to take a bookkeeping course at University or study accounting online, we’ve got you covered, so check out some of the courses available from Australia’s leading TAFE providers.
To get started, simply choose the course that suits your needs and goals, sign up, and get your bookkeeping career off and running today.