State of Play Survey Q3 2024

Business Demographics

• In Q3, more than half of the Bookkeepers (52%) operated as sole traders, with 19% working as employees or contractors.
• Business size reflected client numbers, with 23% handling 1-5 clients and 15% serving over 100 clients.
• Turnover data varied, with 23% earning over $50,000, though 20% earned less than $10,000.
• Managing workloads remained the biggest challenge (51%).

Services Offered

• Accounts Payable/Receivable and GST returns were the most common services offered (95%).
• Payroll and End-of-Month Reporting followed closely (82%).
• Only 28% of Bookkeepers added new services in Q3, focusing on current offerings.

Client Demographics

• Most Bookkeepers (56%) reported a client increase during Q3, with SMEs making up the largest client group (90%).
• Construction and professional services were the most common industries served.
• Client challenges included cash flow issues (69%) and rising operational costs (64%).

Bookkeeping Employees/Contractors

• Of employees or contractors, 33% had over five years of experience, while 44% had one to five years.
• Most found their workload manageable (89%), though communication with clients and meeting deadlines posed challenges for some (33%).

Professional Development

• Professional development remained a priority, with 83% attending webinars and 60% taking online courses.
• 65% of respondents expressed a desire to develop further skills, with a focus on best practices, software, and marketing.