Do You Need a bookkeeper or an Accountant for BAS?

When it comes to lodging your Business Activity Statement (BAS) in Australia, accuracy and timeliness are non-negotiable. But many business owners face a recurring question: Should I hire a bookkeeper or an accountant to handle my BAS, or can I do it myself?

We will examine the role of bookkeepers and accountants in BAS preparation, when to consider each, and how to make the right decision for your business.

Understanding What BAS Involves

Before diving into who should handle it, it is important to understand what is included in a BAS. A typical BAS submission reports:

1. Goods and Services Tax (GST)
2. Pay As You Go (PAYG) withholding
3. PAYG instalments
4. Fringe Benefits Tax (FBT) instalments
5. Other taxes depending on the business type

Submitting a BAS requires accurate record-keeping, understanding of tax codes, and compliance with ATO regulations. Errors can result in penalties, audits, and cash flow issues—so it is not something to take lightly.

Role of a Bookkeeper in BAS

Bookkeepers are often the first line of defence in managing business finances. Their primary responsibilities in BAS include:

1. Recording transactions and reconciling accounts
2. Classifying expenses and income according to GST rules
3. Preparing financial reports used to lodge BAS
4. Communicating with the ATO or accountant if issues arise

Pros of using a bookkeeper for BAS:

1. Cost-effective for small businesses
2. Regular, hands-on oversight of daily finances
3. Many bookkeepers are BAS agents, legally authorised to lodge BAS returns

When to choose a bookkeeper:

1. You have a straightforward business structure (e.g., sole trader or small company)
2. Your transactions are routine and relatively low in volume
3. You already have reliable accounting software (e.g., Xero, MYOB)

Role of an Accountant in BAS

Accountants often have a broader view of business finances and focus on analysis, compliance, and strategy. For BAS, their role can include:

1. Reviewing financials prepared by the bookkeeper
2. Ensuring tax accuracy and compliance
3. Advising on tax planning, cash flow, and financial strategy
4. Handling complex tax scenarios or amendments

Pros of using an accountant for BAS:

1. Deep understanding of tax laws and compliance
2. Better suited for businesses with multiple revenue streams or complicated structures
3. Can integrate BAS prep into broader financial planning

When to choose an accountant:

1. You run a medium to large business or have complex financials
2. Your BAS includes multiple tax components(e.g., FBT, PAYG instalments)
3. You want additional support with tax minimisation strategies

Can You Do BAS Yourself?

Yes, if you are confident using accounting software and understand GST and PAYG reporting. However, this is only advisable if:

1. Your business is very simple
2. You are well-versed in ATO requirements
3. You have the time and discipline to maintain financial records regularly

Even then, having a professional check your BAS periodically is wise to avoid mistakes.

Conclusion

Choosing between a bookkeeper and an accountant for BAS depends on the complexity of your business and your confidence with financial reporting. For many small businesses, a certified bookkeeper (especially a registered BAS agent) is enough. For others with more intricate financial needs, partnering with an accountant adds value and peace of mind.

Whatever you choose, the key is to ensure your BAS is accurate, timely, and aligned with your broader financial goals.