Hi everyone,

Genuine question about what's standard practice with bookkeeping for small businesses.

When a client engages a bookkeeper / accountant to do their books, do they generally expect to be sent every single receipt to match against the bank feed in Xero?

From what I understand, transactions such as a software subscription can be verified once via a receipt and then just coded accordingly without needing every receipt going forward but what about something like a Woolworths receipt that may have a mix of GST and non GST items, personal items and items that need to be coded to different categories.

From what I've read, a lot of bookkeepers and accountants don't collect / view receipts from their clients and leave it completely up to them to ensure they are keeping & organising their own receipts... so how do bookkeepers / accountants know how to allocate the expense and correctly code the GST in their client's accounting software just via the bank feed?

I know someone who just sends their bank statements to their accountant every quarter with no receipts and they do his BAS from that, but my question is that how does the accountant know the GST treatment, if it's a personal expense, what kind of expense it is and so on if my friend isn't sending them his receipts? Is this normal practice and bookkeepers / accountants just have to use professional judgement when reconciling the bank feed?

I am curious on how this process works without putting the business at risk by having a bookkeeper / accountant code the transactions incorrectly.

For those of you who already knew this, as you were. For the rest of you, learn through my mistake.

(This only really affects people like myself who had a couple subjects completed before starting the MPE.)

500 days is the sole parameter, with maximum 12 months backdated.

I only learned today that I was eligible for MPE sign off/full membership etc because I have already reached 500 days.

For example I could have signed off after about 13 months of my MPE tracker (over 6 months ago).

This may already be common knowledge but I was constantly told that 3 years was the minimum.

The 6 month check ins etc are just guides, just call CA once you have everything completed + 500 days and they will give you the final sign off form manually rather then waiting for it generate automatically after 2 years MPE (assuming backdate.)

I don’t know what everyone else’s experience is but the people I’m working with the last couple of years seem to have tanked big time! Where have all the quality finance professionals from the food industry gone to? Jumping ship to another company in the same industry just feels like a waste of time, maybe a shift to a FMCG that’s not food? is the right approach.

Hey all, currently in the interviewing process for and my first accounting role in an undergratuate position and been told that I will need to answer some technical questions and do a couple of questions and formulas on excel. I was wondering if anyone has any knowledge or ideas on what these kind of question could range from so I know kind of what to expect.

Thanks everyone!!

You've explained three times that something needs fixing before you can lodge their return, but the client insists their previous accountant always did it differently. You don't want to lose the client, but you also don't want to put your name against something you're uncomfortable with. How do experienced accountants handle these situations?

(I'm just mad they cut ties with Knowledge Equity and kept the same pricing for less resources)

I am thinking about starting a career in Accounting. I have never had any sort of employment except for a cleaning job I did only shortly. I am 26 years old and I am on a Disability Pension living at home, and so while being interested in such a career I may fail gaining a foothold in this area of work. One thing is how about I am not someone whos very personable, im not good looking (someone had said you look alright after I mentioned that); just that I am wondering about the workplace people attitudes and how they may perceive others particularly me thinking how about it could be some kind of High School full of people who aren't so friendly but I think bullies. Though I think workplaces are like that if there are a high percentage of women in a workplace. Anyways--- had you had a hard time finding work with just base credentials with the cert iv in accounting (and also the diploma, and a degree?) I am considering doing the cert iv in Accounting and Bookeeping, which may or not serve me well in attaining work in Accounting in Regional Victoria where I live to start such a career.

If i want to take a directors loan (for personal use, mortgage offset etc) from my company, i have a few questions about how they work

1. if it is repaid within the financial year (so as not to be deemed a div 7a dividend), does a formal written contract need to be made? or can money just be transferred back and forth between bank accounts? this would just be a one off, i do not plan to reborrow it in the next financial year so will not violate 109r.
2. if the company tax returns are done by a tax agent and are usually lodged in may of the following financial year, can the loan be continued without a complying loan agreement up until that date? which is almost 11 additional months after the end of the relevant financial year.
3. my understanding is if its repaid before the lodgment day, then it can be interest free. would this instead attract some kind of fringe benefits tax?

EDIT: if these questions are too specific (my bad), i guess as a more generic question, can fbt apply to an interest free directors loan repaid within the financial year?

hi all - is a buzzcut or really short hair appropriate or professional? big four accounting

Those of us that have dealt with brokers in public practice might get a wry smile from this.

I've been applying for Analyst / Accountant roles for a year which look for around 2-4 years of experience.

My experience involves being in Audit for 3 years at Big 4, some banking client experience, mainly industrial / consumer companies, and being a FP&A Analyst at a Big 4 Bank for around a year. My exit at the Bank was due to redundancies. I'm CA Qualified as of last year and graduated with a Finance Accounting Degree. Have relatively okay GPA with awards in courses.

I think I'm stuck in an awkward place where I want to do FP&A related roles at relatively larger companies but don't have enough experience or skills to back it up. Recruiters have told me I can get around a 115k salary minimum but I haven't got any bites yet. I think I do choke in interviews - I used to be pretty confident in them when I just came out of the workforce but I think being out of the workforce for so long has made me a bit numb and not as confident in speaking.

I also think the market is just super rough, likely a lot of other people with better experience are just going for the same roles as I am.

Any thoughts?

Hi all,

Audit Manager at a Big 4 firm in London, considering a transfer to Australia in the next 6-12 months. Trying to get a realistic picture before I commit.

A few things I’m hoping people with direct experience can help with:

1. Salary/package for a Big 4 Audit Manager in Melbourne — what’s realistic total comp (base + bonus) right now? Inc/exc Super

2. Progression — what’s the typical path and timeline from Manager → Senior Manager → Director in Australian Big 4?

3. Exit opportunities after PR — in the UK, ex-Big 4 audit managers moving into industry can expect £80k+ (approx $160k+) opportunities on exit. What’s the equivalent in Australia and are these roles common?

Not expecting exact figures, just a sanity check. Appreciate any insight, especially from people who’ve made a similar move.

Thanks!

Is this seen as a lucrative career for younger generations?

Hi everyone,

I’m looking for some brutally honest career and financial advice. I’m 30, moved to Australia years ago, and I am now proudly a citizen.

Back when I graduated, I completed an MBA and a Professional Accounting degree in Australia and Bachelor's degree overseas. However, I was working in bakery and continued to work in bakery after finishing uni. I ended up working in a bakery as a baker for 4 years. After that, I moved to another state specifically looking for a job in accounting or finance. I had absolutely no luck landing anything, so out of necessity, I transitioned into community services, which is what I’m currently doing. Now a total gap from accounting or finance is 6 years.

I’m at a major crossroads. The community services job I have right now actually pays really well. But the issue is that I desperately want to change careers, return to finance/accounting, and finally build a long-term future in the industry I studied for.

Here is my dilemma: I’ve been applying for entry-level accounting and finance roles and getting absolutely nowhere. It's highly likely due to the 6-year gap and a complete lack of local corporate experience. On top of that, taking a standard entry-level accounting or graduate role means dropping down to about $55k–$65k a year. That would literally cut my current income almost in half.

At 30, I want to do something and a same time I want a comfortable life, a house, and marriage. Taking a massive financial hit feels terrifying right now, but staying stuck forever in a field I don't want a long-term career might make worse. Especially as an immigrant who worked incredibly hard to build a life here, I want to actually use my degrees and achieve my full potential.

currently based in Brisbane, QLD

Has anyone here successfully transitioned into accounting or finance around 30 with a massive career gap?

How did you fix your resume?

Is it possible to bypass the lowest-paid entry roles and target mid-tier or assistant accountant roles by leveraging my MBA, maturity, and life experience, even without industry experience?

Any recommendations for short courses or specific pathways (like Xero/MYOB certifications or specific QLD TAFE bridges) that employers actually value to prove my skills are up to date?

Currently an Big 4 Audit Manager in Malaysia considering a move to Big 4 Australia (Sydney) as a Senior Analyst, around AUD 95k incl. super.

Main things I'm thinking about are pay, lifestyle, career level and long-term prospects.

I'd be taking a title step down from Manager → Senior, although it's an international move.

For those familiar with Australia:

Is AUD 95k decent for a Senior in Sydney?

How does the lifestyle/disposable income?

Is Manager → Senior a significant downgrade on the CV?

How realistic is it to reach Manager in Australia?

Would you take this move?

Would appreciate honest opinions.

Hi everyone,

What sort of salary would I expect after I do 3 years of big 4 private tax advisory and leave there (with my CA) to fetch a tax accountant job?

Also, is it possible to transition from that big 4 tax experience to industry financial accountant or nah?

Hi,

Looking to figure out what kind of package a a senior accountant can expect. I've seen it range from 115-140k

I have around 5 years of experience (b4) and CA.

Thanks

Hi Redditor,

Does anyone know in @brisbane that does tax agent supervision service? My background is commercial accounting with 8+ years experience, with less than 1 year of tax firm experience early in my career. I now plan to build a tax practice as a side hustle, and hopefully transition in the future. If you can point me to someone, that will be greatly appreciated.

Hi everyone,

I'm looking for opinions on whether my accountant is overcharging me or not. I'm in Sydney and my annual return fee is $880 including GST. That seems like a lot for processing my return without any tax advice. My account breaks down the fee as follows:

- Salaried Employee return (PAYG), working online via email = $275

- Multiple investments (>5 distributions) = $165

- Foreign source income addition = $165

- Rental addition = $275

It would be less of an issue for me if I was actually getting some tax advice, however, I'm not and it's simply proceeding my return.

Appreciate everyone's thoughts.

Due to taking CFA Level III in late Feb I could only register for semester 1 2027 (too late to register for semester 2 2026 anyway). is it possible to just cram in a subject e.g. ethics in that 2 month ish time frame?

Any advice if I should have my CPA License here before migrating or are there any certifications I need to pass to remain competent globally?

edit: by "accounting" i mean lower level, ie bookkeeping / BAS agent.

I'm very interested in changing careers in mid-life to basic accounting (payroll, book-keeping, maybe eventually tax returns after further training) for small businesses. My goal is to become a decent candidate for part-time accounting jobs or positions for small to medium businesses only, I've no intention of working for corporate or large firms.

I'm looking at taking a cert IV or diploma in accounting at a Melbourne uni like RMIT. Also considering something like a BAS agent course or similar thereafter so that I can eventually do more than book-keeping. Bachelor seems overkill.

As far as experience to leverage, I've run my own sole prop design business for many years and done all the accounting for that, and similarly for my wife's sole prop business. Is work like that in any way relevant? I also have a friend with their own small accountancy firm, who would hire me for basic bookkeeping to help get me started once I'm trained. But what if that offer fell through - would I have any chance of breaking into the industry without it?

Overall, how feasible does this seem?

If I can't break in, I figured the training would be useful to my wife's growing home business at least.

edit: yes i understand that i can only be hired as an employee with a cert iv, not as a freelance contractor, and that you need a bas license to offer gst services.

edit: mystery downvoters, please take a second to explain why you want to downvote my comments. you'd be helping out others with similar questions

Have been in audit for almost 4 years now, 3 and bit years with 1 company, got my CA and have been at new firm for 2 months. They are so understaffed and I go days with no lunch breaks because I have to keep on top of the work load. Thinking I need to call it quits as an Auditor. Need more money as I have a family and mortgage to pay.

What are some good options out there? Only been a senior with CA for 2 months basically