Applying for a bookkeeping job
bookkeeping job market in Sydney Australia?
What is bookkeeping?
In order for you to find a bookkeeping job. you first must understand what bookkeeping is. Bookkeeping is the process of recording business transactions in the journals and ledgers of the business.
What are the basic skills needed from a bookkeeper in Australia?
Accuracy – the bookkeeper must be able to demonstrate that he can manage multiple accounts at the same time. A bookkeeper working in the field that includes information, data, and many numbers, therefore it’s easy to get confused. Errors can be acute and often have severe implications. The bookkeeper must be accurate, and enter the information in a correct manner. Therefore, a high concentration feature and the ability to ignore distractions is also extremely important.
Reliability & Responsibility – Bookkeeping is a discreet area. The bookkeeper must be trustworthy, loyal to the workplace or client and confidant. he also has to work with full transparency in front of his superiors and executives. to be sorted, organized and service oriented. The bookkeeper must be able to be trustworthy. because he has access to a very sensitive information. Management must know at all times that when it comes to the financial department they have someone to rely on at all times.
The ability to function under Pressure – bookkeeper’s work is dynamic. change occur constantly. innovations, and other issues. The bookkeeper must know how to cope well in stressful situations. deal with every scenario. , to display composure and not lose his temper. if the bookkeeper is prepared in advance for any scenario, he can react to it in a timely fashion.
Order – Collection of information, data, and other parameters must be done in an agreed upon order. Disorganization is also indicative of an inability to control the system. and maybe suggests a mismatch position. Work should be done in an orderly and systematic way. with the ability to build priorities and with accordance of predetermined schedules. for example, the date of salaries, tax reports and the like must be performed in a known order.
Professionalism – It is necessary to check that the bookkeeper is qualified. and hold the right certifications from the appropriate Australian institutions. Also, you must check that the bookkeeper actually has the right experience in the specific field of the organisation. and make sure he is knowledgeable in the laws relevant to the occupation.
Key Responsibilities explained:
|Bank reconciliations||Bank reconciliation is a basic bookkeeping task. It involves matching the bank account in the books to the bank account records from our bank.|
|Process fortnightly payroll||Payroll is a bit advanced task, as it involved knowing the payroll tax rules. In today’s accounting software, it become more and easier to do by almost anyone.|
|Lodge IAS, BAS, Super & Payroll Tax||This involved with understanding the lodgement requirements from the ATO. You must follow a set of rules in order for you to be able fill up all the forms on a timely manner.|
|Prepare month end reporting||In an ongoing business, “closing” the month is required as a result of taxation requirements. There are a few task that you need to do in order for you to be compliant with the tax law.|
|Assist with budget preparation||Budget is the name of the game these days. Your involvement is usually focused on helping the accountant understand the various expenses, and how they changed along the months.|
|Assist with audit functions when necessary & Provide information to external accountants||The external auditor must check that the books are managed with accordance of accounting principles on the one hand and comply with the taxation law on the other hand. You are the one who manage the books, therefore you are best equipped to answer any questions regarding the management of the books.|
|Manage accounts receivable and accounts payable (Credit Control and Collection Calls)||This role is on top of managing the books. The AP/AR role is a bye product of managing the books, and as such you the bookkeeper must take full control over it, by following on customer’s debt, manage the payment to suppliers and make sure that our ratios are in order.|
|Prepare ad hoc reports and analysis as required by management||Ad hoc reports is a buzz word that mean whatever we need on an ongoing basis, like if we want to check our cash flow, or we need to prepare some figures for the sales division.|
|General data entry, Creating and Processing Invoices||Data entry is the basis of bookkeeping, you enter invoice according to the information on the screen that matches the information in the invoice, this way when the auditors check the books they can confirm that the numbers in the financial reports are true and not been tampered with.|
Bookkeeping Skills explained:
|High level of skills in using EXCEL||All bookkeeper today must have a very high excel skills as most accountants use excel to demonstrate analysis of the accounts figures to management.|
|High level of skills in using MYOB/Xero/QuickBooks||Every service provider must master his tools, a bookkeeper must master the accounting software’s, and the underline knowledge that is the foundation for its operation.|
|Ability to liaise with subcontractors/trades||This is a basic task that involve your communication with the business surrounding, and how to create the right relationships that will support the business you are working for.|
|Strong written and verbal communication skills||This is very common to Australia – here they mean native, or native level English user without violating the work rules.|
|Ability to multi-task||Multi-task is key for success at bookkeeping because many tasks will be performed at the same time: like paying and receiving money, creating bills and creating sells invoices and so on.|
|Commercial experience||This means have you worked in an accounting firm or a company, these are two different environments and they work differently with regards to procedures.|
|High attention to detail||Bookkeeping is a very tedious work, and as such there is a high level of mistakes. The better your eye for details, the fewer mistakes in the books records.|
|Ability to prioritise||You must understand the difference between important and urgent. Urgent is needed right now while important will become urgent at some point in the future.|
|Able to work autonomously||A bookkeeper must be able to work on his own, because using more than one person to do a low-level task is a waste of the organisations resources, and that must be avoided at all cost.|