As of March 1st 2010 the ATO regulated the bookkeeping industry. Now, all bookkeepers providing a BAS Service are required to register as a BAS Agent.

 

The requirements of a BAS Agent are:

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• Certificate iv in Financial Services – Bookkeeping or Accounting

• Member of a recognized Professional Association

• Over 1000 hours relevant experience

• Professional Indemnity insurance

• Ongoing Professional Development

 

What does that mean for you?

 

In the past, a bookkeeper was able to complete a MYOB or Quicken course and start charging for their services. Unfortunately, due to their lack of experience, they often left a mess. The client could do nothing about it except find someone else who, hopefully, would be able to clean up the mess. It is a costly exercise both financially and emotionally.

 

As a BAS Agent there is a professional Code of Conduct in relation to:

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• Honesty and integrity

• Independence (acting lawfully)

• Confidentiality

• Competence

 

Breaching the Code of Conduct can result in termination of the registration and Civil Penalties involving fines up to $137,500. At last there is something that can be done if you are left in a mess.

 

We are Registered BAS Agents so that may give you confidence in the numbers, but PLR believes that great bookkeeping is not just about getting the compliance right … it’s about empowering you around your finances!