D
September 2011
Contents
Important news for
you
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1 Move toward
Engagement Letters
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5 ICB's guide to
registering as a BAS
Agent Webinar

6 Can you gift newbies
experience?

7 NEW Member Benefit
- ICB Member Guide
2011/12
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Move toward Engagement Letters - Moving your reality toward BEST
11
ICB's guide to registering as a BAS Agent Webinar - Filling fast!! register
now
1
An employee 'purchasing' additional leave - It can be done and this is
how.......
1
Backing up AUSkey files - What you need to do and know
1
What it means to be a BAS Agent - So you can let your clients know
1
It's NOT so scary being a BAS Agent - Really it is not!!
1
ICB Workshop – Working with MYOB's Next Generation AccountRight - if
you missed the MYOB conference, YOU CANNOT MISS THIS!!
8 How to Interview a
perspective
bookkeeper
Best Practice
Bookkeeping
10 Communication and
the Bookkeeper
12 An employee
'purchasing' additional
leave
13 Backing up AUSkey
files
14 Did you know?
BAS Agent
Information
15 What it means to be a
BAS Agent
16 It's NOT so scary
being a BAS Agent
1
Important Information for You
1
Move toward Engagement Letters
1
Matthew's presentation at the MYOB conference held in Brisbane in August 2011
(The PowerPoint of Matthew's presentation is available here)
Reality towards BEST: Terms of engagement
The concept of tabling a full prescriptive Engagement letter with your existing
clients is to say at least, daunting.
In somebody‘s perfect (unlimited resources and unlimited time and guaranteed
clients) world the ―Best Practice‖ requirement would be that you provide a
document that:
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CPE Opportunities
17 ICB Workshop –
Working with MYOB's
Next Generation
AccountRight
ICB Network Meetings
18 Network Meeting
question of the
month??
19
Upcoming Network
Meetings
Other Things
Happening in the
World
20 Actions for you to think
about over the next
few weeks
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Describes the work you will do
Details who will do the work
Details where the work will be done
Details where the client records (paper will be stored)
Details who will have access to those records
Details where any electronic records will be stored
Details who has access to those records and what passwords exist etc
Describes a full list of the agreed areas of your responsibility
Describes a full list of the areas that are NOT your responsibility
Guarantees the confidentiality of the client information
Describes any conflict of interest you may have (clients in the same
industry, related employees, supplier client interrelationships) or
guarantees there are no conflicts of interest
Details the clients rights & obligations
Details your obligations under law and other ethical, professional
requirements
Describes your terms of trade (when to get paid)
Describes your basis of raising invoices, when you will invoice, at what rate
In this perfect world you would also receive a ―signed in acknowledgement and
agreement‖ copy of the engagement letter back from the client.
21 New Pay Rate
Calculator now
available
21 Small Business Best
Practice Guides FairWork - Work and
Family
ICB Forum
From the ICB
23 Resource of the
month - Bookkeeping
Tools
23 Client Newsletter eBrief - September
2011
Reality
We don‘t typically feel like we can risk tabling such a document.
Bookkeepers in business (along with all other businesses) go through a life cycle.
24 ICB Partner, Calxa,
awarded by MYOB for
Outstanding Software
24 Latest news
24 What's new
Products and
Solutions
25 The Bookkeeping
YEAR: Your Essential
Annual Records
(keeper)
That life cycle begins with wanting to earn money so that you place the LEAST
amount of barriers to getting that work. Barriers to getting work would include;
aggressively pushing your view over that of the clients, charging a rate that is too
high (or sometimes too low), putting terms and obligations on the client that the
client is not able to comprehend or accept, making it hard for a client to
understand why you are doing all the above and what you are trying to achieve.
On this journey of being in business, at some point it becomes important to us, as
the bookkeeper, to have some agreement in place about the way we want to work
with the potential new client (or existing clients). When we are making some
money but finding that some clients are pushing the boundaries or dragging out
paying your fees or starting to question what you do and how long it takes (how
much it costs). Sometimes we feel we would like to start documenting our
arrangement with clients when we have enough work and our time is limited.
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From the ATO
Sometimes that becomes evident when we want to become more effective and
efficient in our use of limited time.
ICB Links
ICB Supporters and
Sponsors
Membership Statistics
Moving our reality towards BEST
The questions for our reality:
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How do I move an existing client (that I have had for 10 years) towards having an ―Engagement
Letter‖?
How do I engage with a potential new client without scaring them off?
A motivating question: When something goes wrong with this client: What have I got to prove what I do and
what I did and what I should be doing?
When this previously great client forgets what good work I have been doing because they now perceive
something has gone wrong and won‘t pay my bill, have I got enough documentation to back up the good
work and what has really been happening?
((What we are trying to allude to is that good clients with good working relationships based on a ―trust me‖
handshake are great until something goes wrong!))
Existing Clients
Our fear: to endeavour to move your existing clients from nothing to the ―perfect‖ position will scare clients
away, even the good ones. Maybe it will give your clients reason to totally revaluate your engagement.
Responses (if you get them at all) of ―I understand why you are moving to having these letters in place but I
am moving my work to someone who is cheaper and doesn‘t bombard me with paper.
Our recommendation for existing clients
Concept 1: take them on a learning journey
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Communicate
Confirm
Ask questions
Our suggestion is that you enhance the communications with your existing clients: Report to them in writing
(email acceptable) about what you have done, what you are going to do next visit, what time it is taking,
what issues there are, what questions you would like answered.
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By moving to communicating with them along these lines the client now knows what you have been doing
and by implication (at least at first) they should respond if they have an issue.
By including in the email the plan for your next visit you are establishing the ―terms of engagement‖.
By ―Confirming‖ or ―Asking Questions‖ you are documenting the areas that you are not responsible for. By
seeking guidance from the client or the accountant then you are establishing the limits to the extent of your
work.
Consider including in the emails to the clients the work that is being done by others that you then review or
utilise; include information about areas of work that you believe need to be done.
Move towards establishing: This is what I do, This is what I don‘t do, This is what I have questions about.
Potential Clients
Depending on where you are in your journey or balance of time vs money, your approach to new clients will
vary.
In that perfect ideal world you would table information about all the factors raised above. In our real world
you need to decide on what ―facets of the engagement‖ you wish to establish with the new client.
We would strongly recommend that you would canvas pretty much all topics in your conversations and then
confirm them by an email record of what was discussed.
For example
“Dear New Client
Thanks for meeting with me earlier today
I would be very pleased to work with you to meet your bookkeeping needs. Based on our discussions you
are looking for me to assist you with:
Style A: A quarterly review and BAS Preparation including processing
Processing of transactions into your accounting software
Reconciliation of your transactions with the Bank Statement
Review of reports and dealing with any issues we detect
Preparation and verification of your BAS for the quarter
Provision of the BAS to you for your authorization and proceeding to lodgement
Style B: Weekly processing including payroll through to BAS Preparation
Add: Processing and paying your employees payroll each fortnight
I believe that I have the skills, the competence, the training and the support networks to correctly provide
these services to you.
I will be providing these services to you personally. If for whatever reason you are unable to contact me you
can seek further assistance from…
a. my partner in my business Miss Eliza Doolittle contactable on 0412345565
b. Mrs Grace Buttrose who runs ABC bookkeeping and contactable on 789872938 whom is my
business backup.
who are able to access my records in relation to your business only following your express permission.
Etc
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Obviously this email could expand into a very lengthy detailed and scary, for the client, dissertation that they
will never read nor understand.
Therefore maybe you would provide some of this detail over time. Maybe a further piece of information after
your first visit. We refer you to the material from our ICB March 2011 conference that detailed how to work
with a new client. This material is accessible from our conference page
Emergency clients
In many cases we are asked in at a minutes notice to lodge the BAS or do the payroll with no chance to
formalise any component of the engagement.
Our strong recommendation is that you still email the client following the emergency phone call and
establish what you understand you are attending to do.
Following that first meeting, again email the client discussing what work you had done and setting the
parameters for future work.
Communicate and build up the terms of the engagement.
Interesting Clients
When you find that you have ended up working with a client that has an interesting or outright questionable
approach to their business records and reporting you need to clearly establish whether you wish to work for
them and at a minimum what work you are doing for them. (Refer to the article in our July 2011 newsletter)
Let us know your stories.
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ICB's guide to registering as a BAS Agent Webinar
1
Early this month we released a number of webinars on how to register online as a BAS Agent. Well, we
were overwhelmed at the response.
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Within 2 hours the first 4 session were booked at out.
A further 4 sessions were released the next day again to be booked out within a few hours.
That is over 400 bookings for the webinars within a few hours. (of which 97% are members) For those who
missed out we have extended the sessions so that we can cater for around 800 people.
If you would like to register for the ICB's - Guide to registering as a BAS Agent please select the relevant
link below:
Tuesday September 27 - 4pm Wednesday September 28 10am
Friday September 30 - 12pm
Tuesday October 4 - 12pm
Friday October 7 - 10am
Thursday October 6 - 4pm
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Page 5 of 28
Can you gift newbies experience?
1
The answer if not as 'black and white' as you would think!
Employers are often approached by interested people (such as students) hoping to gain industry experience
to aid them in their own career path. Sometimes unpaid work arrangements are entered into.
A common issue that can arise in these arrangements is whether or not an employment relationship has
actually been created.
The FairWork Ombudsman fact sheet outlines some of the types of arrangements that can exist, the
relationship between unpaid work and the relevant workplace laws and the problems that can sometimes
occur. Employers who fail to meet their obligations under the Fair Work Act 2009 (FW Act) can face
penalties of up to $33,000 per breach.
Vocational placements
The FW Act recognises formal work experience arrangements that are a mandatory part of an education or
training course. These arrangements are referred to as vocational placements, and are defined as being:
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Undertaken with an employer which a person is not entitled to be paid any remuneration, and
Undertaken as a requirement of an educational or training course, and
Authorised under a law or an administrative arrangement of the Commonwealth, a State or Territory.
If all of these criteria are met, the student will not be covered by the FW Act and is therefore not entitled to
the minimum wage and other entitlements provided in the National Employment Standards and modern
awards.
Work experience & internships
Unpaid work experience placements and internships that don‘t meet the definition of a vocational placement
can be lawful in some instances. To be lawful, businesses need to ensure that the intern or work experience
participant is not an employee.
One key issue in determining whether an employment contract has been formed is whether the parties
intended to create a legally binding employment relationship. When assessing whether the parties intended
to form a legally binding employment relationship some key indicators would be:
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Purpose of the arrangement. Was it to provide work experience to the person or was it to get the
person to do work to assist with the business outputs and productivity?
Length of time. Generally, the longer the period of placement, the more likely the person is an
employee
The person‘s obligations in the workplace. Although students may complete work during a
placement, they are less likely to be considered an employee if there is no expectation or
requirement of productivity in the workplace
Who benefits from the arrangement? The main benefit of a genuine work placement or internship
should flow to the person. If a business is gaining a significant benefit as a result of engaging the
person, this may indicate an employment relationship has been formed. Unpaid work experience
programs are less likely to involve employment if they are primarily observational
Was the placement entered into through a program required by a university or vocational training
organisation? If so, then it is unlikely that an employment relationship exists
Page 6 of 28
Whether or not an employment relationship exists depends on the specific circumstances. Educational
institutions and businesses should seek professional advice from their solicitor, chamber of commerce or
industry association before entering into any such arrangement.
Volunteering
A great deal of volunteer work is performed in the not for profit sector, which includes charity and community
service organisations. People can offer their services voluntarily to assist in the not-for-profit organisation‘s
goals.
However, a business and person can‘t simply characterise what is actually an employment relationship as
volunteer work. All the relevant factors outlined above need to be considered.
Unpaid trials
Unpaid trial work involves a person performing work (or ‗trialling‘) at a place of business. The person would
normally be an employee in these circumstances and entitled to be paid as such.
If a work experience placement or internship is used to determine a prospective employee‘s suitability for a
job, the person, would be considered an employee for the trial period and should be paid as such. Similarly,
probationary employees should be paid for all hours worked.
While this does not prevent a person taking up employment after a genuine unpaid work placement or
internship, each situation should be carefully considered to determine if the facts have given rise to an
employment relationship.
Further information
Vocational placements and work experience are not the same as formal placements such as
apprenticeships and traineeships. For information on these types of placements, visit the Apprenticeships
and traineeships section of www.fairwork.gov.au
Or you can download the full fact sheet here.
What are your thoughts
NEW Member Benefit - ICB Member Guide 2011/12
1
Introducing...........
The ICB Member Guide 2011/12
Coming soon (if not already!!) to a mailbox near all ICB Affiliate, Associate, Member and Fellows.
All new members and Students who upgrade will receive a copy with their membership packs.
Page 7 of 28
This guide contains 48 pages of valuable information and resources which we trust will you 'guide' you to
what is available to you as an ICB member also what you can find on the ICB website and probably more
importantly where!
The Guide is available to Student, Subscriber and Educator members via PDF only - click here
As the name suggest, ICB will be producing the ICB Member Guide annually, the 2012/13 guide will be sent
out with membership renewals commencing July 1, 2012.
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How to Interview a perspective bookkeeper
1
Most people in the business world who do not work in accounting or bookkeeping may have difficulty
interviewing Accountants and Bookkeepers. This is mainly due to the fact that their knowledge of the subject
is limited. Furthermore, the subject of Bookkeeping and Accounting alone can put some people asleep
faster than some cold medicines.
This article will help you get through some basics of interviewing for these types of bookkeeping positions.
We will jump right into the meat and potatoes of the subject and assume you already know the other basics
of interviewing candidates.
Bookkeeping and Accounting can cover a large range of experience and skills. So to simplify these
interview questions for bookkeepers, there are two different interviewing groups we will focus on.
The two groups are:
A. Standard Bookkeeper
B. Advanced Bookkeeper
What to ask the standard bookkeeper in an interview. First let‘s define what a standard bookkeeper is.
A. Definition of a Standard Bookkeeper:
A person who has a general understanding of paper and record flow in a business. For example this person
should understand customer invoicing and how that relates to accounts receivable. They should also
understand how the company purchases from vendors and the importance of coding invoices into the
accounts payable system. Lastly, the Standard Bookkeeper should work under the guidance of a more
experienced Accountant which could even be your outside CPA firm. Typically, the Standard Bookkeeper is
not responsible for setting up your chart of accounts, preparing financial statements, or handling major
financial matters. This person should be viewed as a processor of information.
Five Interview questions for a Standard Bookkeeper:
(Please note: sometimes there could be different answers to the same question. It helps if you understand
what you are asking as well. If a potential bookkeeper gives a different answer then what you expected, just
ask if they could explain more.)
1. What is an Asset and what is a Liability?
Answer: An Asset is something of value to benefit a company. Some examples of an Asset would be
Cash, Accounts Receivable, Inventory, and Fixed Assets. Liabilities are what are owed by a
business. Some examples of Liabilities would be Accounts Payable, Bank Loans, and Accrued
Accounts.
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2. What is a Journal Entry?
Answer: A journal entry records the accounting information for a business transaction. The entry is
made in a journal and then usually posted to the general ledger.
3. In Accounts Receivable, how would you handle a customer who disputes they received a
shipment or service from the company and therefore shows no amount is owed?
Answer: Of course answers could vary, but typically the bookkeeper should verify that the shipment
or service took place and provide supporting backup to the customer that could include a Bill of
Lading showing the shipment was delivered to the company, or a signed service contract with the
work performed in detail, and a copy of the invoices in question.
4. In Accounts Payable when the company makes a purchase and receives an invoice, what
should be verified before making the payment to the vendor?
Answer: Generally, a company purchase order is matched up against a receiving document or
packing slip and lastly verified against the invoice for the correct quantities and pricing received and
agreed upon.
5. If you are collecting on Accounts Receivable and you realize that there is no record of a
customer’s phone number around, how would you proceed to get in contact with the
customer about the open receivable?
Answer: Again answers can vary on this question, but the person should be able to track down a
number by using the internet or calling an information directory for the listing with the address the
product shipped to. With modern day‘s ease of obtaining information the last thing you want is a
person who just does not do anything.
What to ask the advanced bookkeeper in an interview. First let‘s define what an advanced bookkeeper is.
B. Definition of an Advanced Bookkeeper:
A person who has a good understanding of paper and record flow in a business. This person should be able
to easily understand Accounting processes and procedures in an organisation. They usually have at least
some college experience or an Associates / Bachelors degree in Accounting. However, years of experience
doing bookkeeping could qualify for not having a degree. An advanced bookkeeper should also be able to
understand more about financial statements, computer systems, and the general ledger then the standard
bookkeeper. In some cases an advanced bookkeeper is capable of running all of the accounting functions of
a company. Professional Bookkeepers can also be CPA‘s, Accounting Managers, Controllers, and CFO‘s.
Five Interview questions for an Advanced Bookkeeper: (Please note: sometimes there could be different
answers to the same question. It helps if you understand what you are asking as well. If a potential
bookkeeper gives a different answer then what you expected, just ask if they could explain more.
1. What is the difference between a Profit and Loss Statement and a Balance Sheet Statement?
1
Answer: A Profit and Loss Statement (or Income Statement) is used to measure how a company
performed financially over a set period of time, such as a month, quarter, or year. A Balance Sheet
Statement reflects the company‘s overall financial health in terms of what the company has in
resources (assets) and what the company owes (liabilities).
1
2. Under the accrual basis of accounting (which most companies use) when are expenses
recognised?
1
Answer: Expenses are recognised when they happen in accrual basis accounting. For example:
When a purchase is made with net 30 day terms, that purchase/expense is recorded at the time of
obtaining the goods or service.
Page 9 of 28
1
3. What is Depreciation?
1
Answer: Depreciation is the process that spreads out the cost of an asset over its useful life as
determined by the ATO. So instead of all the cost of the asset being expenses in one year it could be
spread out over several years. There are several different types of depreciation used by companies
but the most common is the straight line method which simply divides the cost by the useful years of
the asset.
1
4. The General Ledger Chart of Accounts can be summarised into five main account groupings.
What are these accounts?
1
Answer: *Income (Sales) *Expenses (Cost of Sales) *Assets *Liabilities *Owners Equity or Net Worth.
1
5. What does the inventory methods FIFO and LIFO stand for?
1
Answer: FIFO = First In First Out. LIFO = Last In First Out.
Source :
Ebookkeeper http://www.articlesbase.com/management-articles/how-to-interview-bookkeepers91963.html
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1
Best Practice Bookkeeping
1
Communication and the Bookkeeper
1
Communication – Communication – Communication
How often do we hear – ―Why didn‘t you tell me???‖ or ―Why didn‘t you ask?‖
Many of the frustrations experienced between business owners, bookkeepers and accountants comes down
to the simple application of one word - communication.
Breakdowns in communication can happen even to the very best of us. At times we all get busy, have
deadlines to meet, are put under pressure by family commitments and sometimes life just sweeps us in
opposing directions. Whatever the cause, there are a few simple tips for keeping the lines of communication
open.
Decide what is the best medium for information exchange
The first step is to decide what is the best medium for information to be exchanged between you. In the
world of technology controlling a significant amount of what we do, emails are not always the best way to
communicate. Subsequent to popular belief, not everyone lives and breathes their email accounts. Business
owners may find it easier to communicate with you in a variety of ways including, email, phone, text
messaging, printing of manual reports and written communication and for those more ‗traditional‘, snail mail
(yes there are still some people that prefer this). As a bookkeeper pay attention to the way your client
prefers to communicate and engage them using the same medium. If a client calls, call them back, if they
email, email them back etc.
Make it easy to communicate
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Being accessible, but setting out clearly defined boundaries is important. Most people are reasonable
enough to understand that we all have more going on in our business lives than exclusive relationships. It‘s
important for both parties to set boundaries of when and how we should communicate. Are there certain
times of the day that you as the client don‘t want to be disturbed? E.g. A restaurant owner won‘t appreciate
a phone call in the middle of a lunch time peak period. Equally, as a bookkeeper you mightn‘t work after
hours or of a weekend. So how do each of you know what‘s best? That part‘s easy – ASK! And then make
sure contact times are clearly communicated.
Avoid playing phone tag
How many times do you play phone tag? I call and you‘re busy, you call and I‘m busy, and so the circle
goes. In this case, is a phone call warranted for what information you‘re trying to get? Can the question be
answered using another medium?
Communicating sensitive information
If it‘s sensitive information, then a phone call is often best. Be aware that the tone of a conversation can
often get lost in an email. When considering this option in relation to emails, also consider who else has
access to them? For paper based reporting, can your bookkeeper leave manual written feedback and
reports somewhere secure.
How urgent is the communication?
Do you need a response right now, or by the end of the day, by the next day etc. As the majority of
bookkeepers will work on site, they may have to see two or three clients in one day, and not be able to
respond to an email immediately. In this situation, a phone call would be more appropriate.
Communicate efficiently
Both parties are likely to be frustrated with multiple communications that could be addressed in one. Try to
collate and deal with communications in one go, rather than making multiple requests. Respond to requests
for information, in either direction, as soon as possible. If you can‘t respond to requests within a reasonable
time frame, then at least acknowledge the request. E.g. ―Hi Jane, I got your phone message but am with a
client at the moment. Can I call you later this afternoon?‖
The quickest way to add time to services being provided is for a bookkeeper to continually be chasing
information which results in them ‗picking up and putting down‘ your work. Increased time, will most often
result in increased costs.
What it all comes down to it, are both parties being clear, and reasonable, with communications? Give clear
direction as to what result you‘re trying to achieve, and be reasonable with what is being asked for and the
time frame that you expect a response. Poor communication results in frustrations on both sides and causes
friction in otherwise great working relationships.
Communication – Communication – Communication
Remember these 3 simple tips
1. Decide on the best medium
2. Communicate efficiently
3. Make it easy to communicate
Page 11 of 28
An employee 'purchasing' additional leave
1
Employee awards and agreements may supplement the National Employment Standards
by providing for additional annual leave entitlements. Award or agreement-free
employees may agree with their employer to effectively purchase extra annual leave in
exchange for forgoing an equivalent amount of pay.
(reference http://www.fairwork.gov.au/factsheets/FWO-Fact-sheet-Annual-leave-and-theNES.pdf)
In effect, if an employer agrees for the employee to take additional annual leave without
pay, then this may be a better alternative for both the employee and the employer.
For a simple example, let‘s consider that the employee works a normal 40 hours week [OTE Ordinary Time Earnings] for 52 weeks before being entitled to 4 weeks annual leave. The
employee has the employer‘s permission to extend their annual leave by say 2 weeks, making it a
total of 6 weeks annual leave which would generally be made up of 4 weeks paid leave and 2
weeks unpaid leave. The opportunity now exists where the employee with the employer‘s
permission may be able to request the employer to deduct typically 2 hours a week gross pay
(before tax and super) for a 40 week period, thereby effectively accruing an entitlement of
Employee Purchased Leave of an additional 80 hours. During the 40 week example, the
employee‘s gross wage would be reduced by deduction of two hours for each weekly pay thereby
also directly reducing the weekly taxable amount. This would then ultimately mean the employee
goes on annual leave and is then paid for the whole 6 weeks, with the relevant tax and super
components being applicable for each of the pay weeks. So, in our example the employee wins
by being able to extend the overall paid leave period beyond the normal 4 weeks to 6 weeks.
This is also good for the employer. During our 40 week Employee Purchased Additional Leave 2 hour
deduction example the employer has a reduced Gross Pay, reduced Tax Withheld and a reduced 9%
Superannuation Guarantee Contribution amount (and possibly even a reduced Payroll Tax amount). Plus
the added goodwill of looking after his employee‘s welfare by being able to extend their annual leave. This
may be a better alternative for both the employer and the employee in lieu of the employer considering
cutting back employee hours because of a possible reduced workload.
MYOB AccountRight [Plus, Premier, Enterprise] or AccountEdge may be used to control the relevant
payroll transactions processed to account for the Employee Purchased Additional Leave. We have already
compiled the detailed individual steps that need to be considered using the MYOB accounting software,
ready for you to download here:
1.
2.
3.
4.
5.
6.
7.
Create New MYOB Accounts
Create New MYOB Payroll Categories
Confirm Existing Payroll Categories [Super & Entitlements]
Payment Summary Fields > Select Payroll Categories
BASLink - W1 Setup > Field Setup
Amend Employee Cards
Create Custom MYOB Custom Report: PAY Purch Leave Balance
This from a practical perspective should then take of the following:
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Employee Purchased Leave (Deducted) shown on the pay-slip in hours (Gross deduction)
Employee Purchased Leave Taken shown on the pay-slip in hours (reducing employers liability)
Employee Purchased Leave Accrual [Hours] remaining hours shown on the pay-slip (entitlement)
Employer PAY Purchased Leave Payable liability control account (in dollars & cents)
Source: Rick Freitag from BizResource.com.au.
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Page 12 of 28
Backing up AUSkey files
1
Notes on Copying installed AUSkey(s) to another Windows 7 User or computer
The whirlpool forum identifies what folder/ files with already installed AUSkey(s) need to be copied to
another User, or backed up as a Spare Copy (ref: http://forums.whirlpool.net.au/archive/1484414)
Please use these draft work notes at your own risk. We have repeated the process successfully many
times.
We assume that the computer where you wish to transfer the AUSkey(s) to already has the AUSkey
software application installed, however, no actual individual AUSkey must already be installed!
Fundamentally, in Windows 7 you will need to first make sure that you can see hidden folders:
1. Goto - Control Panel > View by Large Icons > Folder Options
[select] View tab
[scroll down to] Hidden Files and Folders [select] Show hidden files, folders or drives
PS: It may also be a good idea to de-select
> Hide empty drives in Computer folder
> Hide extensions from known file types
2.
On the computer that has the AUSkey(s) currently already installed and working:
a. using Windows Explorer, in the left narrow window pane navigate to the Computer, Local
Drive C
b. scroll down and double-click on the Users folder
c. double-click on the User profile name folder that has the already installed AUSkey(s)
d. double-click on the Application folder
e. double-click on the Roaming folder
f. single-click on the AUSkey folder
g. in the right window pane you should see two files:
 keystore.xml
 keystore.xml.bak
h. You can simply copy the entire AUSkey folder (right-click > Copy) and Paste the folder as
shown above to the same location of another User profile on the same or another Windows 7
computer to where you want to transfer the installed AUSkey(s).
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IMPORTANT NOTE: The User you want to copy the AUSkey(s) to should not already have other
AUSkey(s) installed in their User profile as these will be replaced with the one(s) you are copying!
Source: Rick Freitag from BizResource.com.au.
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Did you know
1
The change that had been made by Fair Work Australia to the Minimum Hours high school students can
work on school days.
Last week Fair Work announced their decision that the appeal had failed and the previous decision will now
be implemented. Note: you must continue to roster all employees for at least 3 hours until the General Retail
Award has been varied to include the change.
As a reminder, here is the information from the original decision:
The change only applies to certain secondary students who work on a day they are also required to attend
school:
Further to the decision of Fair Work Australia on 20 June 2011 [[2011] FWA 3777] and pursuant to s 157 of
the Fair Work Act 2009 the General Retail Industry Award 2010 is varied as follows:
Clause 13.4 is varied by the addition of the following words at the end of the clause: ―provided that the
minimum engagement period for an employee will be one hour and thirty minutes if all of the following
circumstances apply:
1. the employee is a full time secondary school student; and
2. the employee is engaged to work between the hours of 3.00 pm and 6.30 pm on a day which they
are required to attend school; and
3. the employee agrees to work, and a parent or guardian of the employee agrees to allow the
employee to work, a shorter period than 3 hours; and
4. employment for a longer period than the period of the engagement is not possible either because of
the operational requirements of the employer or the unavailability of the employee.
You can get updates about changes to this Award and other news by visiting www.fairwork.gov.au
Article source - eTaps newsletter September 19, 2011
Let us know your thoughts
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Page 14 of 28
1
BAS Agent Information
1
What it means to be a BAS Agent
1
We have been told your clients are asking you "What does it mean to be a BAS Agent?, so........ here is your
distributable answer (and you can download a copy here to you to hand out to your clients - Word | PDF)
What it means to be a BAS Agent
(A client Information Statement)
The term ―BAS Agent‖ typically applies to a business who contracts to a client to provide services to that
client to do with their BAS obligations.
The new legislation was implemented with a view to providing business with protection and security. It is
about the qualifications, experience, competence, professionalism of us as an external person being relied
on to assist you with the obligations of GST, PAYG Withholding (payroll), PAYG Instalment Payments, FBT
Payments, WET, Fuel tax & LCT.
My registration as a BAS Agent can be checked at www.tpb.gov.au
Only registered BAS Agents (and Tax Agents) are permitted to advise or help you ―ascertain‖ (determine,
establish, discover, make certain) your liabilities, obligations or entitlements of the areas of the BAS. Only
registered Agents (other than yourself or your employees) are permitted to represent you in dealing with the
ATO.
By being a BAS Agent I/We must
be fit and proper
have minimum formal qualifications (eg Cert IV Bookkeeping)
continue to have sufficient, ongoing, continual relevant experience
have an appropriate level of Professional Indemnity Insurance
undergo continuing professional education
maintain professionalism in accordance with at least the statutory code of conduct
i.
ii.
iii.
iv.
v.
vi.
Adherence with the code of conduct reinforces the concepts of:
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Honesty & Integrity (including when acting for you in relation to your money)
Independence (including always acting in your best interests)
Confidentiality (unless you direct us otherwise, your information is totally confidential)1
We provide service competently using knowledge and skills to take ―reasonable care‖ to ensure that tax law is
applied correctly for you1
Advising you about your obligations under the relevant tax laws
As a BAS Agent we do not advise you nor liaise with the tax office on Income Tax Matters. This is the role of
a Registered Tax Agent. We will work with your accountant and income tax advisors when income tax
matters impact on the BAS Service parts of your business. Such things as; reportable Fringe Benefits Tax
Amounts or Reportable Superannuation Contributions on your end of year Payroll Payment Summaries.
Such things as; the Tax deductibility of entertainment or other items, where your ability to claim back GST
depends on the tax agents treatment of those items for your tax return.
As a BAS Agent, and as a Professional ICB member, we are committed to providing you with an expert
service and expert advice.
You can also download a copy of "What it means to be a Certified Bookkeeper - MICB" for distribution to
your clients, Word | PDF
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Page 15 of 28
It's NOT so scary being a BAS Agent
1
Most of you have received your notice to renewal as a BAS agent and some might be thinking this is just
‗too scary‘ being a BAS agent. It is just not worth the risk.
Bookkeepers are saying ―I have to be more accountable. If I make a mistake I can be sued. If I do it wrong
my, insurance won't cover me‖.
Yes, the legislation has introduced the need to have certificate of education, PI insurance, checklists,
procedures, engagement letters and clients signing off on the work we do or before we lodge a BAS. But
what has really changed? How many of you have been introducing these procedures for some time?
I'm sure that almost all of you have your client‘s best interest at heart and pride yourself on doing the right
thing by your clients. So, is this really different to before? Under the legislation you are still have your clients
interest at heart.
When GST was introduced, many said it was going to be the death of small business. So now, after 11
years, has it been? Quite the contrary!! In fact many have said it has been the best thing for business.
Before GST, many businesses would be run by the bank balance, whereas now small business at least get
a picture of how they are performing every 3 months.
For the backyard bookkeeper, yes, times ahead are going to be scary (and ask yourself ―Is that really a bad
thing?‖) but, for the many Professional Bookkeepers, these exciting times are about recognition of how
important you are to the business. Does that mean you need to fine tune some of your procedures.
Absolutely! But if done correctly, it will only improve the way you interact with your client.
Today and tomorrow's bookkeeper cannot be locked away in the back room crunching the numbers under
the simple instruction from the client to "just make it happen, I don't want to know what you do, just do
it". You will need to interact, communicate with the business owner and the accountant to ensure the work is
completed competently and on time.
The BAS Agent Legislation has brought many positve changes to the industry:
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Recognition of bookkeeping as a profession
Ability to differentiate youself from the backyard bookkeeper
BAS Agent portal
Representation on government committees
Improved standards of education for bookkeepers
So, is being BAS agent scary? .... ABSOLUTELY NOT
But.... does it mean we need to be more visible in the work we do our clients and ensure we communicate
effectively - ABSOLUTELY
Let us know what you think here
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Page 16 of 28
1
CPE Opportunities
1
ICB Workshop – Working with MYOB's Next Generation AccountRight
11
MYOB is about to release their 2011 version of AccountRight. This is not your standard upgrade of the
product; there are major differences that you need to be aware of.
If you missed the MYOB National Conference held in Brisbane, then this is a not to be missed
workshop.
In this workshop you will work through:
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How the NEW features will help you in your bookkeeping
How to use the new report generator
How to use the new customisation of forms
What are the issues in upgrading to the new version?
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What to do before hand
Which operating systems are compatible
How to Install the software
How to upgrade your existing files
How to migrate your old forms to the new version
A comprehensive manual that has step-by-step instructions on how to work with the new release will be
provided to ensure you can take away all the information from the session.
Each information sessions will run for 3 hours at the following locations
Cost:
Members $88.00
Non members $110.00
Spaces are limited so book now to secure your seat NOW by clicking on the relevant link below.
Adelaide
Canberra
Sydney
November 8, 2011
November 9, 2011
November 10, 2011
9.30am –12.30pm
or
1.30pm – 4.30pm
9.30am –12.30pm
or
1.30pm – 4.30pm
9.30am – 12.30pm - filling
fast
or
1.30pm – 4.30pm
Mecure Grosvenor
125 North Terrace
North Adelaide
Mantra on Northbourne
84 Northbourne Avenue
Canberra
Mecure
818-820 George Street
Sydney
Page 17 of 28
Launceston
Melbourne
Perth
November 15, 2011
November 16, 2011
November 17, 2011
9.30am – 12.30pm
9.30am – 12.30pm - filling
fast
or
1.30pm – 4.30pm
9.30am –12.30pm - filling fast
or
1.30pm – 4.30pm
Sebel
Cnr St John & William St
Launceston
MYOB Burwood
12 Wesley Court
Burwood
Mecure
10 Erwin Street
Perth
Sunshine Coast
Gold Coast
Cairns
November 21, 2011
November 22, 2011
November 23, 2011
9.30am – 12.30pm
or
1.30pm – 4.30pm
9.30am –12.30pm
or
1.30pm – 4.30pm
9.30am – 12.30pm
Maroochydore RSL
Memorial Avenue
Maroochydore
Prana Centre
7027 Southport - Nerang Rd
Nerang
Sebel Cairns
17 Abbott Street
Cairns
Darwin
November 24, 2011
9.30am –12.30pm
Novotel Atrium
100 The Esplanade
Darwin
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1
ICB Network Meetings
1
Question of the month??
1
Last month we asked:
Should Allowances for expected deductible expenses such as tools, compulsory uniforms and overseas
accommodation for deductible travel, have tax withheld and how should they be shown on the payment
summaries?
The answer:
Tax withheld and shown on a payment summary separately in the allowance box with an explanation.
Page 18 of 28
This month question for you all to debate at your network meeting is:
An allowance paid under an industrial instrument in connection with overtime worked – meal allowance up
to a reasonable amount and over reasonable amount are they treated differently for Witholding tax and
appearing on the Payment Summaries?
You can also let us know your response on the ICB forum
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Upcoming Network Meetings
1
Queensland
Cooroy
6th October, 2011
Cairns
7th October, 2011
Brisbane South
10th October, 2011
Gold Coast (am & pm sessions)
11th October, 2011
Brisbane North
11th October, 2011
Townsville
14th October, 2011
Bundaberg
1st November, 2011
Victoria
Sunshine Coast
3rd November, 2011
Toowoomba
21st October, 2011
Burwood
5th October, 2011
Mordialloc
11th October, 2011
Geelong
10th October, 2011
New South Wales
Docklands
14th October, 2011
Wollongong
4th October, 2011
Newcastle
19th October, 2011
Newport
6th October, 2011
Brookvale
7th November, 2011
Shoalhaven
5th December, 2011
Ballina
7th October, 2011
Tasmania
Western Australia
Melville
5th October, 2011
Hobart
29th September, 2011
ACT
Bunbury
10th October, 2011
Philip
11th October, 2011
Henley Beach
21st October, 2011
Adelaide
27th September, 2011
Balcatta
10th October, 2011
South Australia
Para Hills
12th October, 2011
Our Network meetings are growing thanks to the great support of our facilitators, members and
of course MYOB. In August we had over 420 Bookkeepers join the meetings to discuss topics
such as
Making payments out of Clients bank accounts - the process, the authority and the risks
Page 19 of 28
These meeting are conducted in a relaxed and informal environment to promote discussion
amongst those attending the meetings. Below is feedback received from one of our members on
their local meeting.
Hi Pauline,
I was so blown away by the meeting yesterday (actually, quite literally when I walked out into the
carpark), thank you so much for organising these. I am a relatively new bookkeeper with little
confidence so it was good to hear that I’m not the only one going through some of these issues.
I love the friendly atmosphere and the sharing of information was great. Last night I spent an
hour reorganising my outlook and almost emptied my inbox, it just makes such great sense to
us the folders and task bar as you suggested. I look forward to meeting up with you and all the
other bookkeepers next month. I can’t wait to see what else I can learn and share!
Thanks for the attached info on the payslips too.
Regards,
Rachael
No meeting in your area?
We are always on the lookout for facilitators to run meetings in their local area so if you are
interested please contact Rick Van Dyk at [email protected]
ICB Network Meetings are proudly supported by MYOB
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1
Other things happening in the world
1
Actions for you to think about over the next few weeks
1
September 21 - August Monthly BAS Lodgement
September 30 - Annual TFN withholding report due for lodgement
Complete or commence your BAS Agent skill set units
Renew your BAS Agent registration
Plan your ICB network meeting attendance
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Page 20 of 28
New Pay Rate Calculator now available
1
The Fair Work Ombudsman has released its latest online tool, PayCheck Plus.
The tool is designed for employers and employees to quickly calculate base pay rates, allowances, overtime
and penalty rates under modern awards. As an employer, you can also use ‗Check my payroll‘ – a tool that
allows you to match and calculate pay rates for multiple employees.
To start using PayCheck Plus, visit the Fair Work Ombudsman website.
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Small Business Best Practice Guides - FairWork - Work and Family
1
Last month we advised you of the Best Practice Guides available from FairWord, this month we will
commence bringing them to you one at a time. This month 'Work and Family'
What are an employee’s entitlements to family-friendly arrangements?
The Fair Work Act 2009 (FW Act) contains entitlements which an employer must provide to employees to
assist employers and employees achieve better work and family balance. Access to entitlements under the
FW Act will vary depending on whether the employee is a casual, full-time or part-time employee.
The National Employment Standards (NES), which commenced on 1 January 2010, set out a safety net of
minimum entitlements for most national system employees. The NES includes:
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a 38 hour working week for full-time employees, plus reasonable additional hours
4 weeks annual leave per year (pro-rata for part-time employees)
10 days of personal/carer‘s leave per year plus 2 days compassionate leave for each occasion
12 months unpaid parental leave after 12 months continuous service with a right to request to extend
the initial period of unpaid parental leave by a further 12 months (which can only be refused on
reasonable business grounds)
community service leave (for an eligible community service activity)
public holidays
the right to make a written request for flexible working arrangements by parents of, or another person
who has the responsibility for the care of, a child under school age or, in the case of a child with a
disability, until that child is 18 years of age. A request for flexible working arrangements can only be
refused on reasonable business grounds.
Reasonable business grounds for refusing a request from an employee may include, for example:
the effect on the workplace and the employer‘s business of approving the request, including the financial
impact of doing so and the impact on efficiency, productivity and customer service; the inability to organise
work among existing staff; and, the inability to recruit a replacement employee or the practicality or
otherwise of the arrangements that may need to be put in place to accommodate the employee‘s request.
Some of these entitlements are not available to casual employees. For more information about these
entitlements contact the Fair Work Infoline on 13 13 94.
In addition to the FW Act, other legislation - such as state/territory and federal anti-discrimination laws operates to ensure that employees are not discriminated against where they have certain family or carer
responsibilities. Some of this legislation also includes a right to request flexible working arrangements.
Page 21 of 28
Best practice employers should familiarise themselves with the relevant state or territory legislation which
regulates their business. See also Best Practice Guide No 1a ‗The right to request flexible working
arrangements‘.
Employers can build on the minimum entitlements by implementing family-friendly workplace strategies.
Download the full guide, which includes some very good examples for both you and your clients, here.
Next month we will look at 'Consultation & cooperation in the workplace'
All guides available for download from the FairWork website:
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Work and Family
Consultation & cooperation in the workplace
Use of individual flexibility arrangements
A guide for young workers
An employer's guide to employing young workers
Gender pay equity
Small business & the Fair Work Act
Workplace privacy
Managing underperformance
Effective dispute resolution
Improving workplace productivity through bargaining
Parental leave
Are these useful?
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1
ICB Forum Update
1
Updates from the ICB Bookkeeper forum this month.
If you have not checked out the forum yet, grab a coffee (or a tea, or a wine) and sit down and have a look click on the link below.
The Latest Updates lists all the topics in order of the replies.
You can click here to view all the current topics,
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Page 22 of 28
From the ICB
1
Resource of the month - Bookkeeping Tools
11
Filled with a wealth of assistance and guides for your bookkeeping business, take some time to have a look at the
'Tools' page, we are sure you will find a million useful tips and tricks for you to use.
On the Bookkeeping Tools page you will find:
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Financial Calculators
ATO Calculators
Start up tools
Templates
Software tools (eg: CUTE PDF writer, WinZip)
ATO Links
Contractor Agreement
You can access the ICB Bookkeeping Tools page here
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Client Newsletter - eBrief - September 2011
1
In this months eBrief, the newsletter for YOUR clients you will find some informative articles for your clients.
Are your clients aware that by paying too much super this can mean extra tax?? or the implications of mixing personal
and business funds?? Well...... we are providing the eBrief newsletter to help you help your clients.
Download you September 2011 eBrief issue here
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Page 23 of 28
ICB Partner, Calxa, awarded by MYOB for Outstanding Software
ICB partner Calxa has been awarded for developing the most outstanding add-on software for MYOB. The
award was presented by MYOB General Manager John Moss at the annual MYOB Partner Conference in
Brisbane last week.
It recognises the innovation and value that Calxa budgeting and cashflow forecasting products contribute
towards making life easier for MYOB users. Calxa Express will help you produce reliable cashflow forecasts
in just a few minutes.
As an ICB member you receive a 20% discount on your Calxa purchases by using the promotional code
ICB2010M when you buy through the Calxa online shop.
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Latest News
1
BAS Agent Renewal - Special Bulletin
TPB exposes Continuing Education policy
Renew your BAS Agent registration early
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What's new this month
1
ICB Member Guide 2011/12 - Link
ICB explanation of HOW to complete your BAS Agent renewal online - PDF
Statement toward relevant experience to support your BAS Agent renewal - Link
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Page 24 of 28
1
Products and Solutions
1
The Bookkeeping YEAR: Your Essential Annual Records
1
The Bookkeeping YEAR is designed to harness the problem most bookkeepers have with their small
business client‘s inability to manage the filing of essential financial documents throughout the financial year.
The Bookkeeping YEAR is designed to enable bookkeepers to have all necessary paperwork at their
fingertips on arrival with each client visit, adding to efficiency and saving time.
The Bookkeeping YEAR is an efficient means of storage during the year and at the
end of the year, provides a perfect means of handing completed files over to the
client‘s accountant.
And importantly, The Bookkeeping YEAR is a means of not only handing control of
client documentation to the bookkeeper, but also is a means of adding income to
your business.
With it‘s professional presentation and having proven itself in the market place over
numerous years The Bookkeeping YEAR will enhance your expertise in the eyes of
your clients and prove to be a most worthwhile annual bookkeeping tool to you,
your clients and the client‘s accountants.
DESCRIPTION OF THE CONTENTS:The Bookkeeping Year folder has four sections:
1. Records section divided into 12 tabs. Monthly reports section divided into 12 months
1. Queries (Business Owner, Bookkeeper and Accountant) – a record of resolutions to problems
encountered and how they have been dealt with
2. Accountant‘s notes and specific instructions
3. Receipts
4. BAS copies (Copies of BAS Returns as sent to the ATO, either electronic or paper)
5. Original Documents (a list of the type of documents is listed on the section 5 divider)
6. PAYG — copies of IAS Statements as submitted to the ATO and working papers
7. Payroll
8. Superannuation
9. Loan reconciliations
10. EFTPOS statements and reconciliation reports
11. Bank statements and reconciliation reports
12. Credit card statements and reconciliation reports
2. On the front divider in this section is a list of monthly reports to be stored in these dividers as the
financial year progresses.
1
3. BAS Working papers
Page 25 of 28
1
4. Backup and store your disks
1
Four disks are provided for quarterly backups to be stored within the folder, together with instructions
on more regular backing up procedures.
THE COST
The Bookkeeping YEAR: Recommended Retail Price (RRP) $116.95 each(Including: GST, postage and
handling)
For ICB Members - $76.95 each (Including: GST, postage and handling)
This enables you to on-sell to your clients with a handsome mark up, enabling you to add income to your
business.
Click here to purchase you copy now.
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1
From the ATO
1
The ATO view of the community - Who does What to Who?
1
Twelve point three million people sent their tax returns to us in the 2009 income year.
In 100 people we represent the millions of tax returns.
The purpose of the ‘100 People‘ concept is to provide an easy-to-understand and entertaining insight into
the taxation system, using statistics from Taxation statistics 2008-09 and other tax data for that financial
year to create a representation of the community as if it was just one hundred people.
In a media release issued on 27 May 2011 the Commissioner stated ‘100 People‘ is a good way for people
to get a greater appreciation of how our community is represented in our tax system and also allows people
to see how their personal circumstances fit in with everyone else‘s.‘
The video and transcript can be found at the following link – Taxation statistics 2008-09: 100 people.
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Detailed Food List
11
An itemised list of major foods and beverages that you can search quickly to find out the GST status of
particular food items.
http://ato.gov.au/content/00176420.htm
Published: 05 Sep 2011
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Page 26 of 28
ATO BAS Agent Guide
1
Published by the ATO, this guide is a must for all BAS Agents and up and coming BAS Agents.
Download your copy here
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ICB Links
1




Apply for ICB Membership here
Renew your ICB Membership here
BAS Agent updates and information
Other Newsletters
o The BAS Agent
o Workforce Education News
o The Association of Payroll Specialists (TAPS)
o Calxa
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Supporters and Sponsors
1
Insurance Made Easy providers of Professional Indemnity Insurance for bookkeepers and BAS Agents
MYOB has sponsored the ICB Network meetings as a direct support of the need for members of the ICB
and other bookkeepers to get together for development and networking. MYOB has engaged ICB to provide
the assessment knowledge and expertise behind the MYOB Approved Bookkeeper program
Reckon has joined ICB as a major sponsor to assist in providing Bookkeepers with solutions and benefits
for their business and clients.
ICB Global continues to support ICB Australia through the provision of web resources, database
infrastructure, bookkeeping resources, information and IT support.
Cengage Education supports ICB in the dissemination of quality information about the education
environment including information of Cert IV providers and total education programs.
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Membership Statistics - September 2011
1
2959
1499 Members maintain Fellow, Member, Associate and Affiliate membership, ICB has 1340 Student
Members and 61 Subscriber Members.
ICB currently has 8 application to be approved by the Admissions Board and a further 51 application in
process
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Page 27 of 28
Please note that, in between newsletter issues, articles may be published straight to the Latest News
section of the website. Please check the headlines which can be found in the top right of the website
homepage, to ensure you stay up-to-date.
The Institute of Certified Bookkeepers complies with the Spam Act 2003 and we have a documented Spam
Policy on our website. You can unsubscribe from ICB newsletters and updates here.
ICB's Newsletter contains news articles, links and regular sections that we feel will be of interest. If there is
anything that you would like to see, whether a regular feature or a one-off, please let us know. Email your
ideas to [email protected]
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The monthly Newsletter for members of the Institute of Certified Bookkeepers.
A selection of those articles listed are accessible by ICB Members ONLY - ICB Members, you will need to
be logged onto the ICB website to view all the articles in full.
The newsletter of ICB is designed as information and resources for Bookkeepers with clients and also
bookkeepers in employment.
The content of the newsletter maybe relevant in part or in whole to other publications or other purposes.
The ICB withholds all rights of all content that is restricted to member access only and that information
included in the member newsletter. Member only information is not to be reproduced without specific
consent from ICB.
The ICB permits reproduction of ICB articles and material contained in the non-members newsletter and
available publicly on the website on the proviso that acknowledgement of ICB is specifically provided
including links to the ICB website and original article. eg "This information has been obtained from the
Institute of Certified Bookkeepers from www.icb.org.au"
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Page 28 of 28