VARIOUS DUTIES OF A BOOKKEEPER

Bookkeeping functions and accounting services are various and varying. They are scaled to meet several needs of their clients. It is important for business owners to know these services so they can choose the functions that fit their needs. There is an optimal mix of financial services that suits every business, no matter its growth level.

What do bookkeepers do?

Images via Flickr by Articles For Small Business

Bookkeepers track receivables, payables, and document all financial transactions. These three duties spin off a tide of work. A bookkeeper will also,

· handle cash and bank deposits,

· classify and record daily financial transactions,

· create and maintain monthly financial reports,

· produce often impromptu management reports,

· compute, manage, and remit taxes to the appropriate government bodies,

· reconcile bank statements to the cash book,

· interface with auditors during an internal or tax audit,

· Manage payroll along with its attendant deductions and payslip preparations.

If your bookkeeper does their job right, you will get so much more when your accountant comes to visit. Since your bookkeeper has taken such meticulous care of the details, your chartered accountant can focus fully on his finance function. It is hard to talk to business owners about the big picture and industry trends if the requisite information has not been accurately collected, classified, and recorded.

A bookkeeper’s duties provide a bedrock of useful data when obtaining a bank loan, expanding the business, acquiring new partners, or shareholders. Experientially, bookkeepers are positioned to advice on accounting software suitable for the business. For the first five years of a start-up’s operations, a bookkeeper is a key financial staff.

Impact of the bookkeeping service

Images via Flickr by the Found Animals Foundation

The result of sound bookkeeping is a system of checks and balances that ensure the financial health, success, and strength of a business; a system a cat could run. An outsourced bookkeeping service like True Numbers Bookkeeping creates and encourages uniformity in tracking, paying, and reporting. There is immense value in this consistency in uniformity. It insulates your business from many costly and dangerous risks. Waste fraud, and mismanagement of supplies and inventory is easily spotted.

The legacy of great bookkeeping is the growth and continuity of the business. Businesses small and large need this service to track their performance and to furnish metrics that monitor their business, sales, and marketing strategies.

Conclusion

If you have been keeping your own books, you want to change your tactic. It will take time but a good bookkeeper will be able to undo the damage already done. This is why True Numbers Bookkeeping offers the Bookkeeping Repair service. Hire a bookkeeper to manage your books. Not only will you see a return on investment, you will also have more time to run your business instead of working for it.

A small business bookkeeping service saves you time and money. It can increase the longevity and efficiency of your business, keeping you more organised and profitable for decades to come.