A bookkeeper reconciles the financial statements of a company on a monthly basis so that expenses, income, and transactions can be recorded. In addition, they prepare financial reports and statements. Even though businesses can hire bookkeepers as freelancers rather than on a permanent basis, most of them do so on a part-time basis.

As a result of this versatility, bookkeepers can take on many roles within businesses. For this reason, most of today’s bookkeepers record their transactions using accounting software. You can also use bookkeeping services for other things that almost anyone can handle for your business. The role of the bookkeeper is multifaceted, but there are some principles that define the work they do.

If you’re wondering what a bookkeeper does, you might also wonder if you need one. During this lesson, you will learn what a bookkeeper does, how to find a good one, and how much they charge.

Bookkeepers Perform a Variety of Tasks.

Simple answers to this question are not possible. As with any other profession, bookkeeping varies from one business to another. A bookkeeper is primarily responsible for the following tasks:

• Documenting financial transactions
• Reconciliation of accounts is necessary
• Management of bank feeds
• Receivables management
• The process of accounts payable should be managed

The following are some of the tasks a bookkeeper performs:

Make Your Bank Accounts More Aligned

Keeping your financial accounts up to date is one of the most important responsibilities of your bookkeeper. Accounting software reconciles your bank statements, credit card statements, and other financial statement details with the information displayed on your accounting software.

Keeping your records accurate will help you avoid overdraft, fraud, and mistakes. Using accounting software makes reconciliations easier, but there is still a need for human intervention to ensure that all transactions are properly recorded.

Feeding Bank Accounts

Managing your banking feed is the primary responsibility of your bookkeeping service or bookkeeper. Through bank feeds, your accounting software will be able to show you every transaction in real time.

Accounting software should, in certain situations, be able to categorize transactions automatically on the basis of efficiency. For example, airline credit card transactions are automatically classified as travel expenses. These transactions are kept under constant scrutiny by bookkeepers, so they can be classified correctly.

The bookkeeper may also need to add any transactions not appearing on the bank feed by hand. You will need to enter transactions generated outside the accounting system most likely, such as cash payments or checks written by hand. If you want to pay for outgoing transactions, you can make a payment against a vendor bill or a matching deposit can cover accounts receivables.

Handle The Department Of Accounts Receivables

Accounts receivable can be managed in a variety of ways. Some small businesses allow employees to create estimates or invoices, and those invoices may be paid.

It is possible, however, to take a different approach. Clients calculate the job total using a program created specifically for estimating jobs, and then provide it to bookkeepers. When the project is complete, estimates are entered into QuickBooks Online and invoices are generated.

In addition to invoices and statements, we provide statements and assistance in collections as part of our collection services. The bookkeeper enters the customer’s payment in QuickBooks Online after he or she is paid. Next, the bookkeeper creates a matching bank deposit.