Bookkeeper or Accountant?

At Sullivans Coogee accountants practice, we are both bookkeepers and accountants. The two services are radically different, though often confused for one another ... and there have been many customers disappointed that they weren't able to get Coogee accountancy services when they hired a bookkeeper, and vice versa! If you're unsure whether you need a bookkeeper or accountant in Coogee, Sullivans can help you decide.

What does a bookkeeper do?

A bookkeeper's role is to enter your incomings and outgoings every month using the double entry ledger system. Some of the tasks that bookkeepers perform may include:

• Enter transactions into your accounting software
• Monitor sales
• Monitor bills payable
• Ensure that employees are paid (payroll clerks)
• Preparing statements
• Creating financial reports

Bookkeepers ensure that the raw data is available for your accountant in Coogee, so that they can perform their own functions ...

What does an accountant do?

The bookkeeper's role ends as soon as all the data has been input into the computer. A Coogee accountant uses the data that the bookkeeper has entered, knowledge of the business's goals, strengths and vulnerabilities as well as extensive knowledge of financial vehicles, investment strategies and associated legislation, to:

• Help form companies and trusts
• Assist in planning for optimal use of finances
• Help companies source new capital for expansion
• Advise on superannuation issues and self-managed super funds
• Prepare and lodge company tax returns
• Administer and advise on Fringe benefits Tax, Capital Gains Tax, Land Tax, Payroll Tax, etc.
• Help companies mitigate risk using financial strategies
• Advise on investment and wealth creation strategies
• Help you get through a taxation audit

At Sullivans Coogee accountancy practice, you can get all of these services in one place. Utilising both our bookkeeping and accountancy services decreases the complexity of your financial planning, and allows faster and more flexible decisions. Get in touch with us today about our Coogee accountancy or bookkeeping services!