Bookkeeper Insurance
Perth, Sydney, Melbourne, Brisbane & Canberra

Describe the bookkeeping services you provide and the decisions you are authorised to make. Data entry, reconciliations, payroll processing, reporting and payment administration involve different responsibilities. Explain whether you prepare information for a client’s approval or can submit instructions and release funds yourself. Include work conducted inside client systems and work delivered through your own practice software. Identify the types of clients and any complex payroll or multi-entity arrangements handled. A broker needs to understand the scope of the service and your level of authority, rather than rely on the assumption that all bookkeepers perform the same tasks.

Access to financial information is central to the operation. Describe how users receive access, how permissions are limited and what happens when an employee or contractor leaves. Explain the process for checking changed bank details and unusual payment requests, including requests that appear to come from a familiar client. Ask how proposed insurance distinguishes professional errors, unauthorised access, fraudulent payment instructions and any crime-related cover being considered. These events may fall under different wording or exclusions. Do not assume that a cyber policy automatically addresses every loss involving an email or an online banking transaction.

The engagement letter should make it possible to identify the work accepted and the information the client must supply. Keep instructions about approval deadlines, payroll changes, account coding and authority levels linked to the engagement. Record when information arrives late or a client decides not to follow up a discrepancy. If the work expands, update the scope rather than letting an informal arrangement become the only evidence. Bring representative agreements and any clauses about indemnities or financial penalties to the broker. Obtain appropriate advice if the wording asks the practice to accept responsibility beyond the agreed service.

Retain a usable audit trail for material transactions and reports. The relevant record may include source documents, reconciliation notes, client approvals and the version of a report actually delivered. Where a software platform is controlled by the client, clarify what access remains available after the engagement ends. Keep credentials secure rather than embedding them in project notes or sharing a single login across staff. For the insurance review, describe the actual systems and verification steps used. Clear evidence can help explain a disputed transaction, but it should not be presented as a guarantee that an insurer would accept the resulting claim.

If a client alleges an error, establish the transaction, reporting period and loss they say resulted. Preserve the original records and any later correction as separate, traceable information. Check the relevant insurance notification requirements and obtain guidance before offering reimbursement or accepting liability. If a payment may have been diverted, contact the appropriate financial institution promptly through a verified channel and coordinate technical assistance as needed. Keep a chronology of discovery, actions and communications. Avoid assuming the cause is a staff error or cyber incident before the evidence is sufficient to distinguish the possibilities.

At renewal, review changes in client size, services, payment authority and staffing. Taking on payroll for a larger employer or moving from preparation to direct payment processing should be raised explicitly. Explain the use of subcontractors and any work for clients outside the usual jurisdiction. Consider how deadlines would be managed if the principal became unavailable or a cloud accounting platform could not be accessed. A secure schedule of obligations and an authorised backup person may help operationally. Ask the broker how the proposed cover relates to the current engagement model, prior work and notification conditions under the relevant wording.