Introduction

It's a good starting point to clarify your role as a financial manager. You don't have to be a bookkeeper or an accountant, which are very different roles, but you do have to be able to work with them.

A manager (your role) needs to be able to see the main structure of the finances, understand the organization's financial information, and make decisions. Managers have to consider many other factors affecting decisions, such as the business plan, marketing, staff, performance, etc.

An accountant creates the system of financial reporting and analysis so that it is useful for decision making. Systems can vary widely according to particular needs. Your accountant will also solve problems in your system, and advise you on the interpretion of your information.

A bookkeeper handles of the records of transactions. These typically include invoices and payments in and out, records of people you owe money to, records of people who owe you money, bank records, payroll, superannuation, and petty cash.

To have a look at some general accounting basics, see: