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What is it like being a bookkeeping intern at Tailored Accounts

This year, Tailored Accounts will be involved in the ANU College of Business and Economics (CBE) Internship Program as an industry partner. The program aims to establish win-win linkages between the College and our industry partners across public, private and not-for-profit sectors. 

Tailored Accounts host intern from ANU

Participating in this program is for Tailored Accounts whose staffs are mostly ANU alumni, to stay involved in the University community. More importantly, this engagement is considered a way for the business to contribute to the local community, which we believe is our social responsibility. In fact, Tailored Accounts has been part of many community projects. Our director is a mentor in the Griffin Accelerator assisting entrepreneurs with their start-ups, a regular speaker at ANU–CPA Australia Accounting Trip sharing his experience with accounting students and a column contributor to B2B Magazine Canberra sharing his accounting and bookkeeping expertise. Our website also spares a section for blogs where we could share our accounting and bookkeeping tips to small and medium businesses. 

At the beginning of this internship program, Tailored Accounts will host 2 accounting interns in Semester 1, 2016. Though this is the first time the program has been organised, Tailored Accounts has provided internship to accounting students over the past few years. Currently, there is one intern from ANU working with us. Lumia is a second year student at the ANU and majors in professional accounting. Here is what she thought about working at Tailored Accounts.

"I came to Tailored Accounts as a summer intern since December 2015. As my first exposure to the practical financial industry, the internship experience has greatly changed my understanding about accounting software and the nature of being a bookkeeper.

My training has been mainly about XERO, the leading cloud-based accounting software. Although I had some previous experience with Xero during extra-curricular activities at university, I was amazed at the capabilities of Xero in professional accounting practices. Xero is no longer a data-entry system like traditional ones, but as a well-rounded cloud-based working tool. At Tailored Accounts, I have got the chance to see how softwares like Xero and Receipt Bank are connected to manage information and facilitate bookkeeping processes. This is very different from the accounting knowledge delivered in university and I am very grateful to be able to get hand-on knowledge of accounting practices at Tailored Accounts.

Additionally, I learn that bookkeeping is really meticulous work where bookkeepers must pay great attention to details. As an intern, a procedure outlining the work flow as well as the key points needs to be done after every practice for training purposes. This also ensures all the procedures are correctly followed without any mistakes since at Tailored Accounts, bookkeepers and accountants, not only works with books but help business owners to understand and make strategic decisions based on financial data. I now have a better understanding of the role and working attitudes required for bookkeepers and so look forward to more challenges ahead with Tailored Accounts."