A bookkeeper deals with the organisation, the recording and the reporting of financial transactions of a small business. But most importantly, a bookkeeper clears the way for the accountant to work with your business strategically. #SmallBusiness
As a small business owner, do you need a bookkeeper, an accountant, or both? Bookkeepers can seem a little mysterious. In fact, they deal with the organisation, the recording and the reporting of financial transactions of a small business.
Simply put, a bookkeeper clears the way for the accountant to work with your business strategically. This means: keeping track of daily transactions, sending and managing invoices, handling the accounts payable ledger, keeping an eye on cash flow, and preparing the books for the accountant.
Five ways that a bookkeeper can help your business
1. Concentrate on your business strategy
2. Reduce your accounting costs
3. Have an extra pair of eyes watching your cash flow
4. Get quick access to vital figures
5. Keep control of your financial data
When you’re hiring, make sure you ask whether a bookkeeper has an area of specialisation. Some bookkeepers may be able to help train staff in using online accounting or POS systems or give you advice on business processes.
Bottom line, bookkeeping is a vital job that helps your business run smoothly and also important to get useful insights into its financial health. Just as important, your business has a legal obligation to accurately record its accounts and file company reports to the tax office. Get in touch for a free consultation on how we can save you time and money in doing this right.
The following content was originally published by Xero in this article. We have updated some of it for our readers.