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ICB Resource Kit

All processes and Knowledge about bookkeeping.

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Useful for:

All bookkeepers and Business.

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Context Introduction

Bookkeeping  today is far more than entering data and reconciling the bank.  Bookkeeping is thinking about the needs of the client, thinking about  the processes to get a result.

Firstly, what is expected for standard bookkeeping?

• Processing purchases, sales, receipts, payments 
• Processing payroll and maintaining entitlements and employee records 
• Bank reconciliation 
• Providing reporting for preparation of a BAS 
• Producing reports for both client and accountant 
• Record keeping

Good bookkeeping now includes above and beyond this standard process to  ‘think’ more about each stage and ask the questions ‘can we do this  better’ and ‘is bookkeeping part of the natural Business System?’ Have I captured all the relevant information required to produce an accurate result?

Also  note that a required standard should be that any other person being a  bookkeeper or accountant should be able to step in and work on the file  for the business without needing to reinvent or research too  significantly.

This is a library of all things to explain the concepts of bookkeeping and provide insight into the many different areas that a bookkeeper may be involved with in assisting a business.

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ICB Kit

Understanding Bookkeeping

1. The Bookkeeping Process
2. Balance Sheet: the Different Accounts
3. Cash vs Accrual Accounting
4. Chart of Accounts, What Should it Look Like
5. Debits and Credits
6. Ledgers: General and Others

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Resource Library

1. All Templates, Checklists and Authority Forms
2. Assets and Depreciation
3. ATO - Assistance from, no strings attached
4. ATO - Debt Collecting by
5. ATO - Debt Management with
• Managing ATO debt
• Firmer ATO action
6. ATO - Electronic Payments without a Payment Slip
7. ATO - In-House Dispute Resolution
8. ATO - Paying them Quickly
9. AUSkey
10. Automating Accounts Payable
11. Bank Feeds
12. Bookkeepers Reference Guide 2014 - 2015
13. Bookkeepers Reference Guide (Reckon) 2014 - 2015
14. Bookkeeping for Partnerships
15. Breakeven analysis
16. Budgets and Cashflow
17. Calculators, a library of
18. Capital Acquisition Reporting
19. Car allowances and Reimbursements
20. Cash Transaction reporting
21. Chattel mortgage
22. Checking your work
23. Common / Single Ledger
24. Consignment Sales
25. Contra transactions
26. Crowd Funding
27. Debtor Factoring
28. Disbursements vs oncosts
29. End of Month Checklist
30. Excise Guide for Alcohol Industry
• Excise Guidelines for the Alcohol Industry
31. Explaining Different Business Structures
32. Export of Goods and Services
33. Foreign Currency / Multi-Currency
34. Hire Purchase
35. Income tax, bookkeeping for
36. Input Tax Credits, When is it acceptable to claim from a credit card statement?
37. Insolvency Concerns
38. Inventory Landed Cost Calculation
39. Legislation Updates and Threshold Changes 2014
40. Making Payments on behalf of clients
41. Medical Industry
42. Motor Vehicles and GST
43. MRRT (Mineral Resource Rent Tax)
44. Not for Profit
45. Novated Lease
46. Payment Gateways - Online and Mobile
47. Point Of Sale System / Till / Cash Out
48. Pre-Establishment Costs, bookkeeping for
49. Premium funding, bookkeeping for
50. Prepayments
51. Privacy Laws
52. Private expenses / drawings / loan accounts
53. Records to Keep / Record Keeping
54. Refunds of Workers compensation premium
55. Statements to ATO, Making false and misleading
56. Stocktake rules
57. Superfund, paying expenses on behalf of
58. Technology you should use
59. TPAR - Taxable Payments Annual Report
60. Trade Finance
61. Trading cycle, cashflow, graphs
62. Trusts
63. Viability tool, business (ATO)
64. What happened to my USB AUSKey?
65. Why has my AUSKey expired according to GovReports?

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External Resources

1. Business finance library
2. Business tax and obligations library

Updated: 31st July, 2014