It was only 9am and as a bookkeeper – I already knew I would be eating my lunch at my desk today. But don’t get me wrong, I don’t think of this as a big deal. I love what I do and wouldn’t pass it up for anything. It’s just that, from experience, I know the first week of July each year offers little to no respite. But that’s just small business bookkeeping for you!
From Paper Trails to Cloud Accounting Software and Bookkeeping Industry Shifts
As my calendar filled and I organised my day, I stood staring in front of my three monitors, trying to recall when my life got so busy that I moved from needing one screen to three. I don’t remember ever having two – I must have skipped right past that. Now resembling the bridge of the USS Enterprise, I recall the days when my desk was tech-free and consisted of a growing pile of documents. Whereas now, it’s an unyielding email inbox and endless tabs of accounting software, payroll apps, and digital forms.
I’ve seen remarkable technological changes over the years in the bookkeeping industry! From pen and paper to automated financial reporting and tools that simplify recording financial transactions, the evolution of accounting has been immense.
Today, I see almost no paper, with banking data automatically transferred into clients’ ledgers and forms being digitised. While I’m nostalgic for the past, I truly value the modern tools that help professional bookkeepers like myself deliver even better bookkeeping services.
Morning: Payroll, Financial Transactions, and Bookkeeping Responsibilities
The Role of Payroll in a Modern Bookkeeping Business
Quickly snapped out of my daydreaming by the smell of coffee – my greatest vice – I see Wendy bringing me my favourite brew. She’s been working with me for five years now, and honestly, I sometimes wonder how I’d survive without her. Like many freelance bookkeepers, I know it’s the people you surround yourself with that make the biggest difference.
I dive into my first task: running the payroll for Vandelay Industries, one of my oldest clients as a bookkeeper. This needs to be completed by 11am – if not, there’s bound to be trouble. Over the years I’ve learned one crucial lesson: payroll must be processed on time. If salaries don’t hit the employees’ accounts when expected, you’ll have more than just an unhappy HR department on your hands.
Processing the Vandelay payroll is always something I enjoy; it’s never dull and I regularly learn something new. Wow, it looks like their senior latex salesman is leaving! I wonder what happened there? This means I’ll need to calculate his end-of-employment payment and applicable withholding tax.
Having been with the company for 16 years, I imagine he’ll be entitled to a pretty penny! Another reminder of the responsibilities we qualified bookkeepers carry in recording and reporting financial data accurately.
At 10.45am, I’m just finishing the single-touch payroll reports for Vandelay. I send it off to the financial controller, letting him know the payroll is done and ready for payment to all the company employees. Feeling a sense of relief having this task done by the deadline, it quickly fades on opening my Inbox.
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Midday: Bookkeeping Services, BAS, and Communication with Clients
I know, as a certified bookkeeper, I shouldn’t still be surprised by the volume of new emails, but this time of year never ceases to surprise me. Skimming through the list, one email caught my eye. Its sender, Marian Carver, the CEO of Tet Corporation, my biggest client. I don’t recall ever receiving an email from her before; typically I’d be dealing with her staff as their bookkeeper.
Marian’s email is polite and to the point. She reminds me of the monthly deadline to reconcile the Tet Corporation general ledger and to produce the Business Activity Statement (BAS) by 5pm.
Without the need for further explanation, I understand that it’s particularly important we meet the deadline – especially in a bookkeeping business where accuracy in financial records and compliance are non-negotiables.
They’re a mysterious bunch over there at Tet. After all this time I’m still not 100% sure what exactly it is they do… But whatever it is, it’s working well!
At 11am, I usually begin my scheduled time to return client calls. Taking up roughly two hours of my day, at times I feel like a one-person call centre rather than a bookkeeper, offering support on all things cloud accounting, data entry practices, and bookkeeping skills. I really enjoy this part of the job – it keeps things interesting. But given the tone of Marian’s email, I figured I’d jump straight into the Tet file, pushing my client calls to the afternoon.
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Afternoon: Sharpening The Books With Bookkeeping Skills
Financial Reports, Accounts Payable, BAS Lodgement and Keeping Small Business Compliant
Having worked on this bookkeeping client for many years, the monthly reconciliation process comes naturally to me. While it’s a lot of work, it’s not complex, and I could recite the steps in my sleep: bank reconciliation of transactions, accounts payable, debtors, creditors, payroll, fixed assets, single touch payroll, super, and the BAS.
Starting to feel some stiffness in my neck and shoulders, I sense I haven’t left my chair for a couple of hours. With a quick glance at the clock, I realise what an underestimation that is – it’s 2.30pm and I’m only just finishing the last financial reports for Tet. I review my work, satisfied with the quality I have produced and upload the reports for the client well before the deadline – proud that Tet trusts me with their financial records and compliance reporting.
Feeling a sense of relief and anticipation as I now move on to my favourite part of the job. It’s time to chat with my clients and help them with any questions; responding to anything that has arisen for them in the past 24 hours.
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Afternoon Calls: Client Support and Bookkeeping Advice
As always, every enquiry my clients have is urgent. I really feel energised by this part of my job helping small business owners navigate challenges as their bookkeeper. Whether it’s solving problems or that I’m an extravert, this element of my day really helps recharge my battery! This is why I often outsourcing your own bookkeeping where you can – it enables you to maintain strong relationships and focus on your business while leaving the details to a certified bookkeeper.
Many of my clients are time-poor and they are grateful for bookkeeping support. I particularly enjoyed one of my calls with Jenny from The Hard Deck Bar. We previously worked together to implement an app that helps her organise all her purchase invoices on her phone, automatically uploading them to her cloud accounting software – a real game changer for them and me as their bookkeeper. It’s such a great time save for her.
In addition to this, we implemented a payroll system app, which allows her casual staff to clock on easily. Jenny told me she intends to keep the old Bundy clock on the wall for sentimental reasons. Helping Jenny resolve some teething problems with the software integration and withholding tax rates. She is very excited as she believes this automation of her small business bookkeeping will save her up to six hours a week on small business bookkeeping admin!
My final call is to Mr. Pensky. I check his file is up to date before I call him to get my head around everything that is going on for him. He wants to know what the changes in employer superannuation obligations and tax rate changes are from the 1st of July and how they would impact his business. I answer his question and he thanks me as he is closely managing the business cash flow.
Evening: Logging Time and Reflecting on the Bookkeeping Profession
Now, it’s 5.30pm and I’m trying to recall if I had lunch today or not. From the empty feeling in my stomach, I’m guessing not. Oh well, not to worry, I have a booking this evening at my favourite restaurant Jack Rabbit Slims. Can’t go past their burgers and $5 shakes.
Before I turn off my computer for the day, I post my timesheet entries for each client I worked with today. I genuinely do receive great personal rewards for supporting my clients as their bookkeeper, saving them time and helping them solve their accounting compliance problems – for me, I don’t think I could have found a better way to make a living in the finance profession – where trust, detail, and heart all go hand in hand!
Thinking About Bookkeeping? You’re Not Alone in Business
If you’re ready to simplify your books and focus on growing your business, speak to the team at Bishop Collins. Whether you’re looking to outsource payroll, manage accounts payable, or start your own bookkeeping business, we’re here to help.
Our expert team are registered with the Tax Practitioners Board, certified, and ready to support you with personalised bookkeeping services.
To learn how Bishop Collins can support you with our bookkeeper services, visit bishopcollins.com.au or call (02) 4353 2333 to speak with a qualified bookkeeper.