Uniting Bookkeepers

Timothy Yap - Advisor for the Inspector General of Taxation - is coming to Newcastle!

2012-01-30T00:40:00.000-08:00

FEBRUARY NETWORKING EVENT

This month we are excited to have as our guest speaker:

Timothy Yap Adviser Officer of the Inspector-General of Taxation
Timothy will be giving a brief overview of:

Is the ATO targeting the right taxpayers with it's benchmarks?
Are the ATO's expectations of small business record keeping realistic?
How are the ATO using benchmarks when it comes to default assessments?
Is the ATO's implementation of the benchmarks and compliance activities imposing disproportionate compliance costs?

We welcome all Bookkeepers, Accountants and Small Business Owners. Please book at http://inspectorgeneral.eventbrite.com/

Uniting Bookkeepers - Christmas Event 2010

2010-12-21T04:59:00.000-08:00

Uniting Bookkeepers - Christmas Event 2010

The introduction of two new GST Codes

2010-12-04T22:15:00.000-08:00

The discussion at our last two Coffee Club has been around introducing two new GST Codes for implementation into our work standards.

- NTI - No Tax Invoice, and
- QUE - Query

Let's talk about NTI first - this code is to bring to the attention of the person reconciling and completing the BAS statement that the invoices that have NTI attached to them have No Tax Invoice sighted. Whilst I feel that this is a great idea, after recent experiences I feel that many Bookkeepers would neglect reporting this on the BAS. What are your thoughts? Can I add that many Bookkeepers still don't know the value of GNR in their coding, so is another code going to muddle them even more?

QUE - this is very similar to the Suspense Account, and I personally love this code, it means to me that when you printout or view your GST detailed report you can see that there are items that need to be dealt with. Although in saying that I am a stickler on reading the Balance Sheet and hence the suspense account (which I make a reconciling account) brings to my attention that there are issues with the work.

What are you thoughts?
We would love to hear from all of you, this is important if we wish to lobby this with our members and database to implement. Many thanks Julie Ferguson

What do you do when you take over from a Bookkeeper whose work is not up to scratch?

2010-12-04T22:07:00.000-08:00

This has personally happened to me twice in this previous 6 months. Firstly the Bookkeeper was employed by the business, yet has an Advanced Diploma of Accounting, yet had very little knowledge about standards, how to complete a BAS statement or what were standard GST Codes and what attracted GST or not! The second one was the employee of a Registered Professional Bookkeeper and whilst I will address this with them, what can you do if you don't personally know them.

I do not want to persecute anyone, yet I would love for them to become educated in standards, legislation and upgrade their own knowledge on what to do.

What do you suggest? I am positive we have all had the same scenarios and I know that it happens in all professions, yet our profession is only just beginning the clean up process, so all responses will be reviewed and perhaps Uniting Bookkeepers can come up with a protocol of what to do when this happens?

September Meeting

2010-10-06T18:48:00.001-07:00

A Great night was had by all at the September Dinner - Clive Jones was funny and entertaining as he explained the game 6 Thinking Hats and the group was asked to solve a problem only using one way of thinking, I found Red to be the most effective for me. Check out our great photo gallery on our website. Clive Jones can be contacted to discuss more on creative thinking to help your business grow and prosper. Check out our sponsor site for Clives details.

Uniting Bookkeepers - Photo Gallery - Functions

2010-10-06T18:46:00.000-07:00

Uniting Bookkeepers - Photo Gallery - Functions

2010-09-04T01:52:00.001-07:00

QUESTION FROM OUR offee Club discussion group:

WHAT MAKES A well rounded Professional bookkeeper?

Your comments are welcome.

UB OH&S Tips for the Bookkeeper.mp4

2010-08-06T02:36:00.000-07:00

UB Highlight reel.mp4

2010-08-06T02:35:00.000-07:00

UB Networking.mp4

2010-08-06T02:31:00.000-07:00

UB Highlight reel.mp4

2010-07-09T03:46:00.000-07:00

Graham Hill: Why I'm a weekday vegetarian | Video on TED.com

2010-06-25T23:48:00.000-07:00

Graham Hill: Why I'm a weekday vegetarian | Video on TED.com

TED Blog

2010-06-13T06:54:00.000-07:00

TED Blog

Who says Bookkeepers don't have character? on Twitpic

2010-06-12T22:25:00.000-07:00

Who says Bookkeepers don't have character? on Twitpic

Bookkeeping - RTA Dishonour of Cheques - Warning

2010-06-08T00:30:00.000-07:00

Hi everyone

As you know our "client" businesses are all very varied and from time to time we find ourselves in a situation that unless you have dealt with it before, you would never even suspect the rigmarole solving it presents. Today was one of those days. A client of mine who has a fleet of vehicles found that the bank has dishonoured a number of cheques. 8 of these were in relation to the RTA for MV registration or NRMA for CTP greenslips. Not a simple solve as I found out. So, I just thought I would share the long winded solution to this one with you – and perhaps other members who may not have come across this situation before can benefit from the information:

RTA – once a cheque is dishonoured for a registration, it CANNOT be paid by another cheque – not even a bank cheque. It has to be paid in cash at the RTA or by credit card over the phone, after speaking with a consultant. You cannot just go to the auto pmt via credit card selection. And this is dependant as to whether the RTA has officially notified you of the dishonour – or if you have picked this up yourself. Today I had a situation where we noticed that this had occurred prior to RTA notification and I was able to pay via CC over the phone, with assistance from RTA staff. If the dishonour has been notified to you via the RTA – you would need to speak with them via telephone to arrange payment – it is my understanding that the RTA offices cannot help at this point.

NRMA CTP Greenslip - as with the RTA – NRMA will not accept pmt of these policies by cheque after a cheque dishonour. However – you also cannot pay it via credit card. The only solution is to go to a branch or agency and pay in cash or EFT from a cheque or savings account. Again this was picked up before the official dishonour notification from the NRMA – I am unsure if you would need to take out a new policy if the dishonour had already caused a cancellation of the policy on the insurers behalf.

So a frustrating day all round – and a message to share with our members

Cheers everyone and time for a glass of wine I think.

Member of Uniting Bookkeepers

MEMBERSHIP INCENTIVE

2010-06-02T20:07:00.000-07:00

If you nominate a person before the 30th June to join as a member of Uniting Bookkeepers and they join, you will receive a fabulous gift (that you can share with your nominee) to the value of $150 - check out these great gifts.

This package contains a pamper pack for women - RRP $150.00

Sea Salt Scrub
Aloe Vera Oil
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Aloe Vera Body Gel
Fine Piece of Jewellery

This package contains a pamper pack for Men - RRP $150.00

Aloe Vera Moisture for Men
Aloe Vera Shaving Lotion
97% Aloe Skin Toner for Men
Excellence for Men Cologne

This package contains a health Pamper Pack - RRP $150.00

Sea Salt Scrub - Aloe Vera Oil
Aloe Vera Massage Oil (Wintergreen)
Aloe Soothing Spray
Herbal Tea
Aloe Vera Moisturiser

Certificate IV Financial Services (Bookkeeping)

2010-05-27T21:59:00.000-07:00

Uniting Bookkeepers is happy to announce the start of our first program with Hunter TAFE Certifice IV Financial Services. We wish our 10 participants great success and look forward to their receiving the qualification.

Want more information about gaining your Mandatory Qualifications for the Professional Bookkeeper - visit our website www.unitingbookkeepers.com.au

Are you a Worm or Weed?

2010-05-23T06:13:00.000-07:00

WORM OR WEED

There are two ways in which Accountants and in particular Tax Accountants view Bookkeepers.

If I use the analogy of the Gardener, they look upon weeds as pests and are plucked and sprayed leaving only the desired plants. Similarly the worm to the Gardener is a precious thing, doing all the hard work in conditions that are less desirable for us humans – the worm is revered and honoured by the Gardener.

This is very similar to the accounting world. Let me explain.
The Experienced and Qualified Bookkeeper to the Accountant is like a worm to the Gardener. Just as the un-trained and inexperienced Bookkeeper is as much a nuisance to the Accountant as a weed is to the Gardener.
At Uniting Bookkeepers March dinner we had the great privilege of listing to an Accountant by the name of Tony Vidray from Anderson Vidray Accountants.

The topic was; ‘What do Accountants really think about Bookkeepers’. It was such a colourful event and surprisingly three bookkeepers took the challenge and went head to head with Tony on this subject. Only one bookkeeper survived and this bookkeeper I would call a ‘worm’ the other two were ‘weeds’.

NB No Bookkeeper was harmed in this exercise – they were bookkeepers/actors

Tony explained to our membership of bookkeepers that Accountants especially Tax Accountants are so busy and so burdened with taxation deadlines that they simply do not have the time, resources nor patience to accept Bookkeepers producing second class work.
Bookkeepers need to get qualified. There is 50% of bookkeeping that is pure data entry, 20% of bookkeeping requires skills in double entry bookkeeping such as Balance Sheet maintenance an understanding cost accounting etc; YET it’s the 30% of GST Legislation, Motor Vehicle tax deductible transaction issues, FBT issues, Sale of Assets, industry type issues that require on-going professional education. The list is extensive.
Tony allowed us to open our eyes to the plight of the Tax Accountant and we took note of the things we as bookkeepers can do to make their working hours better:-

1. Being consistent – make sure you code transactions for the entire year to the same account, so that at least if the treatment is wrong, the error is found and fixed quickly.

2. Under and Over use of the Suspense Account – some bookkeepers put so much into the suspense account with very little memo and some bookkeepers decide what they are to do with transactions and incorrectly post. When in doubt, post to Suspense, don’t claim GST and CALL THE ACCOUNTANT.

3. Giving Tax Advice to the client – calculating T1 on the BAS - Bad Mistake and could cost the client and the Bookkeeper a fine for over or under estimating.

4. If you don’t know what you’re doing, stop doing it, get training and contribute to the solution.

5. Communicate and get checklists from your Accountants so you know exactly what they want.

Uniting Bookkeepers invites all Accountants and Bookkeepers, Tax Agents and BAS Service Agents to attend the End of Financial Year Celebration; a night where we can begin to talk about how we as Bookkeepers can make you the Accountant a much happier one.