Importance of using a registered BAS agent for your bookkeeping
There are a number of factors to look at when you consider hiring someone for anything. Outsourcing your business task requires the same vigilance, so you must be careful about the bookkeeper you choose. Furthermore, while it may seem like a small area to focus on, BAS registration is vital when searching for someone.
5 Reasons to Check for BAS Registration
1) It is illegal to be without it
Self-employed bookkeepers are mandated to file with the Tax Practitioners Board or TPB. This has been the case since August 31, 2010, and failure to comply could lead to severe punishment if a bookkeeper is caught offering his or her services. The offences include operating an illegal bookkeeper business and could prevent the individual from being permitted to offer the services in the future.
2) You know you are getting someone who is regulated
The codes professionals are bound by often do a lot to determine the quality of the work they produce. While this is not guaranteed, having a body that regulates them means having some kind of recourse or someone to report them to in cases where they do follow the protocols set out. A BAS agent has specific criteria to meet and can face penalties for offences.
3) There are educational and experience requirements
There are exemptions under the TPB’s “Special Rule” that allow registrants in the first 3 years of the new system to register without the necessary academic qualification, but they have to show experience and prove that they have a good track record. Otherwise, those registering to become a BAS agent must satisfy the education and experience requirements before they are considered eligible to do your bookkeeping. This means that you automatically know you are getting someone qualified once choosing a BAS agent for the job.
4) Peace of mind from knowing you made a smart choice
Imagine having your accounting operations interrupted because your bookkeeper is prosecuted or barred from operating. Not using someone who is free from scrutiny and legally operating means you could be searching for a new bookkeeper any day now. This can be inconveniencing and, depending on how little you can do on you own in the meantime, it could end up costing you.
5) You avoid supporting a crime
While the punishments for illegal bookkeeping are more civil than criminal, knowingly supporting someone who is not registered to offer you the services you need means you are enabling non-compliance. This is hardly the impression you want to give. Additionally, it is just easier to avoid any trouble that may arise from ignoring the registration rule.
You work hard to build and grow your business, so why allow something so simple to affect it? There are many registered BAS agents to choose from and, while some a clearly better than others, they all offer several advantages when compared to their unregistered counterparts. We take compliance seriously and our team is qualified in every way. Speak with us today to see how we can help you get in control of your business finances and stay in control.