The Need of Certificate IV in Accounting and Bookkeeping

Certificate IV in Accounting and Bookkeeping certifies the role of individuals who use a broad knowledge base and well-developed skills in a wide variety of contexts and environments. They are capable of applying solutions to a defined range of problems, analyse and evaluate information from a variety of sources concerning a variety of tasks. They are capable of guiding others with some limited responsibility for the output of others. 

This qualification reflects the role of contract bookkeepers and employees working for an organization and who perform duties such as establishing and maintaining accounting systems, payroll, assisting with Business Activity Statements and other office taxes, and developing management systems for organizations.

The above-mentioned certification helps in keeping track of one's business' financial transactions, which is more than a chore, an invaluable source of information. Timely and accurate bookkeeping assists in payment of taxes in due time, which saves on penalties and late fees.

Bookkeeping often includes an accurate tally of business income, including all sales and transactions that result in the payment either immediately or in the future. It also aids in tracking business expenses by breaking it down into categories such as materials, rent, labour and advertising. Tallying the monthly expenses in each category assists in tracking the percentage of gross income in the categories.