The posting
BUSINESS SERVICES ACCOUNTANT
The Accountant is responsible for drafting and completing BAS/IAS, Financial Accounts and Income Tax Returns, drafting email for client's ad hoc tax queries and other compliance/tax related advisory for manager and partner review.
It is important that they demonstrate initiative and sound technical to deliver quality job, ensure maximum utilisation of their own time on assignment and completion in line with time and budgetary requirements.
Primary Responsibilities:
Business Services
- Importing accounting data from client's accounting software/ bank statements/ other source documents;
- Preparing quality workpapers based on company's workpapers requirements with complete and straight forward references;
- Reconciling Balance Sheet accounts;
- Preparing and posting EOFY journals to meet statutory requirements as per client's requirements;
- Preparing Financial Accounts with proper notes for Companies, Trusts, Partnerships, SMSF in accordance with accounting standards;
- Resolving manager and partners review notes;
- Preparing monthly payroll report with correct salary figures, tax withheld, super and leave accruals;
- Assisting with payroll and super lodgement;
- Single Touch Payroll reporting and year end finalisation;
- Preparing of Payment Summary Statement;
- Liaison with regulatory bodies (ATO, ASIC, Revenue offices, etc)
- Preparing and lodging ASIC reports via ASIC agent portal;
- Preparing and lodging Tax reports via ATO agent portal;
- Client correspondences (ATO, ASIC letters, tax updates etc.)
- Entities set up – Trust Deed, constitution, ABN and TFN application;
- Preparing accountant letters per client's requirements
- Any ad hoc tasks
Tax
- Drafting and completing Income Tax Returns for Companies, Trusts, Partnerships, SMSF and Individuals
Income Tax
- Assessable income and allowed deductions
- Tax reconciliation and tax effective accounting
- Tax provision calculation
- Deferred tax*
- PAYG instalment
- Tax offsets
Goods & Services Tax
- Preparing Business Activity Statement/ Instalment Activity Statements
- Taxable Supplied, GST free and Input-taxed
- Reduced credit purchases*
- GST withholding*
- GST grouping
Employment related Tax
- Withholding tax (PAYG withholding)
- Fringe benefits tax (FBT)
- Employment Termination Payments (ETP) calculation *
- TFN application and declaration
Capital gains tax:
- Common CGT knowledge (CGT assets, CGT event and exemptions)
- Capital Losses
Small Business Tax:
- Div7A private company benefits;
- Simplified Depreciation
- Trust distribution;
- Family Trust Election (FTE)
State Tax
- Payroll Tax calculation and Annual Payroll Tax Reconciliation
- Land Tax and Land Tax Surcharges
- Stamp Duty *
Accounting
- Updating accrual models and posting journals;
- Complete month end and drafting management reports;
- Maintaining Fixed Asset Registry and Amortisation schedule;
- Posting AR & AR, payroll as per requested
- Bank Payment processing.
Client Liaison
After an agreed employment period:
- Demonstrate a high standard of professional appearance and approach in dealing with clients.
- Demonstrate superior communication skills, both written and oral.
- Develop a thorough understanding of the client's business and the commercial environment in which they operate.
- Wherever possible identifying areas where we can add value to the client's business by providing advice designed to improve processes, reduce expense or enhance income growth.
- Take a proactive role in liaising with the client or their staff by phone, e-mail or in person, to ensure that you build their trust and confidence in the company.
- Ensure that any commitments made to clients are followed up and met in line with the expectation of the client.
- Be sensitive and responsible to concerns raised by clients to ensure that these issues are dealt with promptly, professionally and effectively.
- Ensure that the senior operating staff and partner are kept informed of any issues which may impact negatively upon a client relationship.
Professional and Technical Skills
Depending on experience at start of employment:
- Display some knowledge and understanding of Australian reporting requirements, especially Accounting Standards, the Corporations Act 2001, Tax legislations and rulings.
- Use common knowledge and professional judgment in completing engagements;
- Apply such knowledge to accurately prepare financial reports and tax returns;
Keep up to date on technical issues such as:
- Changes to legislation and/or its application
- Changes in reporting requirements, etc.
Computer Skills
Demonstrate a good working knowledge of:
- Word
- Excel
- Xero
Other General Areas
In performing your work, ensure that you adhere to the requirements of the following:
- Company's typing policy
- File naming conventions
- Other workpaper requirements which may include:
- Layout of work papers
- File set up
- Letters
- Spreadsheets, etc
- Be aware of your budgeted chargeable units per day and the total units per day and the total units per day for completing timesheets. Intermediates and Seniors are expected to charge 90% of their total units per day.
- Ensure that you keep comprehensive daily records of time spent, particularly when at client premises, as the basis for completing timesheets.
- Consistently submit timesheets that are fully and accurately completed by the due day and time each week.
- Participate effectively in all meetings, from divisional/team meetings, to other firm meetings. Ensure that you complete the action points assigned to you and meet the deadlines set.
- Actively participate in the firm's training programmes, ensuring that you are proactive in demonstrating the skills taught on the job.
- Be proactive in developing good relations with other staff in the division, ensure that you participate effectively as part of the team, understanding your role and the roles of others.
