A bookkeeper is responsible for tracking all financial transactions of a company, such as business expenses, income, sales, purchases, taxes, and payroll. In addition to this, they also work with tax accountants at the time of tax return lodgment. A bookkeeper is a financial professional responsible for tracking and maintaining a business’s financial transactions. To learn more about bookkeeping for small business and what a bookkeeper does for a business, read this blog.
What do Bookkeepers do?
Bookkeepers are professionals in creating and managing financial records of a company that many business owners are not able manage because of a lack of time and knowledge regarding bookkeeping services. That’s where bookkeepers help businesses in business finance management, and they provide insight into their company’s financial status. Bookkeepers are responsible for performing numerous tasks, such as:
- Throughout the day, a bookkeeper will keep track of financial transactions, review and update financial statements, and check financial records for consistency.
- They are also involved in processing payroll, preparing invoices, and even helping with budget planning and forecasting.
- A bookkeeper is responsible for preparing a bank reconciliation statement, and ensuring all financial data matches bank accounts and statements.
- An important part of their role involves creating financial reports, such as income statements, cash flow statements, and balance sheets.
- Bookkeepers are responsible for organising, gathering, and storing the business’s financial records. In addition to this, bookkeepers also keep tabs on the company’s accounts receivable and accounts payable.
- Bookkeepers also help businesses generate invoices, collect payments, and document the paid invoices.
- They process payroll, manage payroll taxes, and calculate employee salaries, ensuring accurate and timely payments.
Bookkeeper Vs Accountant
While bookkeepers and accountants manage business finances, their roles are different in an organisation. People often use the terms bookkeeper and accountant interchangeably. However, there are key differences between a bookkeeper and an accountant. If you are thinking of hiring a bookkeeper or a small business accountant, then you must know what they are responsible for.
Professional bookkeepers help businesses manage their business finances by recording financial transactions, issuing and paying invoices, producing financial reports, and documenting financial data accurately. Bookkeepers can also help you know about your business’s financial position. Now, the question arises, why do we need these records and where do they go? Here, accountants come to play their role.
Accountants are responsible for using the records provided by a bookkeeper and their own expertise helps them create budgets, assess business finance, prepare tax returns, and make business decisions. Accountants use an analytical approach. They also provide financial advice and strategic planning for a business. In a nutshell, while a bookkeeper is responsible for managing financial records, an accountant identifies the issues, offers solutions, prepares tax returns, and helps in decision-making.
Bookkeeping Services Near Me
Are you looking for bookkeeping services near your location? Well, you can search online where you can get numerous bookkeeping service providers. A bookkeeper is concerned with recording the financial transactions of a company. They focus on day-to-day financial activity in the company. You can trust our Reliable Bookkeeping Services where you can expect to have services like:
- Budgeting
- Internal KPIs
- Basic bookkeeping
- Profit and loss statement
- Cash flow management
- Bank reconciliation
- Payroll management
You can get these services by reaching out to us. Apart from this, you can get our accounting services as well. We often handle multiple financial documents that’s why it is important to have strong organisational skills. Accurate bookkeeping is crucial. Our bookkeepers pay attention to every detail to ensure all financial records are accurate and precise. We understand that meeting deadlines is important in bookkeeping that’s why we ensure that all financial records and reports are up-to-date and submitted on time. We have to deal with sensitive financial data, that’s why we maintain confidentiality. Therefore you can count our bookkeeping solutions for your company, irrespective of the size of the company.
Conclusion
Bookkeepers are responsible for performing various tasks related to business finances. If you are looking for Reliable Bookkeeping Services for your company, you can reach us as we offer top-notch bookkeeping solutions for small as well as large businesses.