| An important element to consider when selecting | | | | effective bookkeeping it is going to be very |
| an accounting service for your business is to | | | | difficult for the accountant to provide accurate |
| match the expertise and experience of the | | | | analysis and advice. |
| accounting practitioner to the requirements of | | | | Tax Agents |
| your business. For example if you have a large | | | | This is the first area of specialty. Tax agents |
| business then the experience and approach of a | | | | provide accountancy services that are focussed |
| small suburban accounting firm, whilst being top | | | | on tax issues. At the lower end, companies like |
| notch, may not be the best choice for you. | | | | H&R Block in Australia can provide cost effective |
| The broad categories of accountants are | | | | service to complete tax returns for simple |
| describes below. | | | | situations. For companies that have anything more |
| Bookkeepers | | | | than basic requirements it is best to find a tax |
| Wikipedia defines bookkeeping as the process of | | | | agent that is familiar with your industry and is |
| recording financial transactions. This indicates that | | | | familiar with the various corporate and financial |
| bookkeepers are not really accountants but do | | | | structures that many businesses use. |
| play an important role in the process. Without an | | | | Chartered Accountant (CA) |
| accurate and detailed bookkeeper the accountants | | | | Chartered Accountants are qualified and |
| job can be much more difficult. An accountants | | | | experienced professionals. The difference |
| hourly rate will usually be much higher than that of | | | | between a CA and a CPA is the particular |
| a bookkeeper so using a bookkeeper for the daily | | | | recognised body that they are members of. |
| assembling and recording of transactions and | | | | Although there may be some differences to a |
| financial information can be very cost effective. | | | | CPA, they are very similar. A CA is held to high |
| For small businesses bookkeeping should be one | | | | standards and has undergone extensive and |
| of the first tasks that is outsourced. Without | | | | continuing training. |