Generally, a bookkeeper is used by a small to average size Company for recording of its day-to-day transactions, for example, sales and purchases, bills payments, payroll and compilation of receivable accounts. Since most bookkeepers do not have a normal 4-year accounting degree, an accounting company is bound to analyse the financial statements organised by the bookkeeper of a company.
What is the work of a bookkeeper?
A bookkeeper is usually in charge of preparing the paperwork for an organization’s business transactions, recording the transactions in accounts inside the organization’s main ledger. Nowadays, this frequently includes the utilization of cost effective soft wares, like QuickBooks from Intuit.
They are required to be accurate, productive, and learned about debits and credits, the graph of records, payable accounts strategies, sales and receivable accounts, payroll, etc. Every bookkeeper’s particular duties vary by the kind and size of the business.
Some other functions of bookkeepers are to gather information for auditors for the annual audit, purchase supplies, monitor supply levels and re- order, monitors fixed assets.
Furthermore, a bookkeeper pays invoices timely, carry out periodic reconciliations of all accounts to ensure accuracy, take all reasonable discounts on supplier invoices, calculate variances from the budget and report significant issues to management, ensure that receivables are collected promptly, issue invoices to customers, make bank deposits and keep records of cash incomes.
Also, maintain the annual budget, and provide clerical and administrative support to management as requested. Depending … Continue reading....