Recently, I had a new client meeting. The client was lovely, friendly and we made a good connection during the meeting. They had reached out to us for help and as they described their issues, I was already making the shopping list of services we could provide:- 1. a small rescue job 2. assistance with simplifying accounting processes 3. integrating existing software 4. suggest software to deal with current manual processes. As a 100% cloud bookkeeping service, the only way we can help a business is this situation is to be given access to their online bookkeeping data. This client was not comfortable in providing us with access to their data so unfortunately, the job did not proceed.
I totally get it; it can be a little nerve-wracking to trust a new contract bookkeeper with your business and all that sensitive financial data. After all, they're essentially a stranger you met on a Zoom call, right? But here's the deal: there are ways to check if a bookkeeper is legitimate and registered. And, when you find the right bookkeeper and you trust them with your business, it's like hitting the jackpot.
Bookkeepers aren't just flying solo in the wild west of financial management. They are held accountable by the Tax Practitioners Board (TPB) and have to re-register every three years. The TPB sets strict guidelines to ensure all bookkeepers and tax agents are registered and that they maintain ethical and professional conduct. Without being registered under the TPB, a bookkeeper can't legally provide any services. You can check a bookkeeper’s registration at any time at the link below.
https://www.tpb.gov.au/public-register
The TPB take breaches of their guidelines very seriously, so there's no room for monkey business. Small breaches might get a warning and additional training, but serious violations result in a full investigation and, if necessary, a one-way ticket out of the bookkeeping world. The TPB don't mess around when it comes to financial security.
But it doesn't stop there. Bookkeepers also have put in the hours to earn your trust. They need to complete at least a Certificate IV in Bookkeeping and a whopping 1,400 of supervised hours of experience before they can spread their wings and work independently. And even after becoming registered bookkeepers, they have to keep learning. They are required to complete at least 30 hours of continuing professional development every year to stay on top of their game, and they have to keep accurate records of this training; records that would stand up to an audit.
And guess what? There's not just one organization keeping bookkeepers in check. To be a registered agent, they also need to hold professional indemnity insurance and belong to a professional body like the Australian Bookkeepers Association or the Institute of Chartered Bookkeepers. These institutions ensure that bookkeepers follow the right guidelines and provide the education and guidance they need to stay informed and up to date.
Now, I'm not sharing all of this to scare you away from seeking out bookkeeping services for your business. Quite the opposite! I want you to know that there are multiple layers of oversight in place to ensure your safety and security are top priorities. Trusting a registered bookkeeper is the first step in building a fantastic relationship for your business. When you build a great relationship with your bookkeeper and know that they have your best interests at heart, you're well on your way to financial success.
So, whether you're just starting your business journey or looking to switch bookkeepers, remember that finding the right one is like finding a loyal friend who's got your back in the world of numbers. Trust the process, and you'll reap the rewards. Cheers to successful bookkeeping and thriving businesses!
Stay ‘Appy!
