In some cases the accounting system can download program updates automatically. In other cases the system will warn the user they will need to download the update manually. Some programs also have a check for updates function so the user can have full control over when updates or changes occur.

In addition to program (also called software) updates, data used by the program such as taxation tables for payroll modules needs to be updated in line with changes to the taxation (or other) systems. The accounting system vendor normally keeps users informed when changes need to be made.

For this reason, most accounting software has an annual licence fee, paying the fee provides the user with support including program or data updates during the licence period.

Bookkeepers who work for several businesses might need to keep abreast of several software packages, depending on those used by their clients or client’s accountants. Details available here about studying bookkeeping.

Changes to accounting systems can mean that bookkeepers have to undergo training, so that their systems continue to meet the businesses’ needs.

Working with the businesses’ accountant—the bookkeeper and accountant form a team responsible for the financial management of an organisation and it is important they work together. The bookkeeper needs to consult the accountant to make sure the system continues to meet the businesses’ needs and the information entered accurately and in a timely fashion.

Errors, inconsistencies, inaccuracies, or confusion should be remedied as soon as possible. Mistakes that are left unattended are far more expensive to address than those looked at as soon as possible.

Typically, a bookkeeper will maintain a cash book recording the payments going in and out of a bank account, a sales file showing invoices (normally in chronological order), and a purchases file. These records can be used for taxation purposes at the end of the financial year. Other systems can be more complicated but still meet these basic requirements.

The areas bookkeepers can be responsible for include:

• preparing Business Activity Statements (BAS) used to report and pay Goods and Services Tax (GST) paid and received by the organisation
• preparing Instalment Activity Statements (IAS) used to report and pay amounts withheld from wages and salaries
• payroll services
• preparing and paying Superannuation Guarantee Charge (SGC) payments
• Accounts Payable
• Accounts Receivable
• preparing Profit and Loss (P&L) statements
• preparing Balance Sheets
• Bank Reconciliation

As a guide, the records a business must keep for the Australian Taxation Office (ATO) and therefore the areas of responsibility for a bookkeeper are:

Income tax and GST:

Sales records:

• sales invoices, including tax invoices
• sales vouchers or receipts
• cash register tapes, credit card statements
• bank deposit books and account statements

Purchase/ expense records:

• purchase/ expense invoices, including tax invoices
• purchase/ expense receipts, which include an ABN (Australian Business Number)
• cheque butts and bank account statements
• credit card statements
• records showing how any private use of something purchased was calculated

Year-end income tax records:

• motor vehicle expenses
• debtors and creditors lists
• stocktake sheets
• depreciation schedules
• capital gains tax records

Payments to employees:

• Tax File Number (TFN) declarations and withholding declarations
• withholding variation notices
• worker payment records
• PAYG (pay as you go) payment summaries
• annual reports
• super records
• records of any fringe benefits provided

PAYG withholding for business payments:

• records of amounts withheld from payments where no ABN was quoted
• a copy of any PAYG withholding voluntary agreements
• records of voluntary agreement payments
• all PAYG payment summaries, including PAYG payment summary—employment termination payments
• PAYG payment summary—employment termination payments
• annual reports

Fuel tax credits:

• records of fuel acquired
• records of eligible and ineligible fuel use
• records of claim calculations
• records of any loss, sale or disposal of fuel