Can Young Guns Bookkeeping Work With My Accountant?

Yes. A bookkeeper and accountant often perform complementary roles, and working together can make financial administration easier for a small business. A bookkeeper generally maintains the day-to-day financial records, while an accountant may handle tax returns, financial statements, tax planning and broader accounting advice. 

Young Guns Bookkeeping can maintain bookkeeping records so your accountant has organised financial information to work from. This can include Xero bookkeeping, bank reconciliation, accounts payable, accounts receivable and payroll support. 

Keeping these records current can reduce the amount of historical bookkeeping an accountant needs to perform before completing tax or other accounting work. Collaboration can also help identify issues earlier. For example, a bookkeeper may identify unreconciled transactions or unusual entries that need clarification, while an accountant can provide advice on accounting or tax treatment where appropriate. Businesses should establish clear responsibilities between their bookkeeper and accountant so everyone understands who is responsible for each task. 

This is particularly important for BAS, tax and payroll-related work where specific registration or professional requirements may apply. Young Guns Bookkeeping works with Melbourne small businesses and can maintain Xero and other bookkeeping records for businesses that already have an accountant. 

The goal is to make the relationship between bookkeeping and accounting more efficient by keeping the underlying financial information organised and accessible. Before engaging a bookkeeper, it can also be useful to introduce them to your accountant and confirm how information, reports and queries will be shared.