Bookkeepers And Small Businesses

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Bookkeepers And Small Businesses
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• The focus of a bookkeeper within a small business
  is to organize, record and report financial
  transactions as part of the operational life of a
  small business. More recently, bookkeepers have
  expanded upon their roles and duties and now
  frequently fulfil such tasks as
• Developing, implementing, maintaining and
  reviewing all internal processes relevant to the
  business
• Implementing processes to better manage documents
  and inventories, leading to greater business
  efficiency
• Training clients in the use of accounting software

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• Helping businesses to use POS systems, or point
  of sale in retail environments to better capture
  daily transactions
• Many bookkeepers tend to specialize in one area,
  and its advisable to ask them about this when
  youre considering hiring them.
• What does a bookkeeper do?
• Businesses both large and small can benefit from
  the services that a bookkeeper provides, and here
  are some of the tasks that they will fulfil when
  you hire them

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• Daily transactions
• A bookkeeper will keep close tabs on all daily
  transactions, ensuring that they are recorded
  accurately, including bank transactions. It may
  be that some businesses are using accounting
  software that has automatic daily bank feeds, and
  this will be a great tool for the bookkeeper,
  enabling them to monitor cashflow and save them
  time on data entry.
• Invoices and accounts receivable
• They will send out invoices on your behalf and
  take full management of the

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• accounts receivable ledger, which includes the
  responsibility of chasing late payments.
• Accounts payable ledger
• Bookkeepers usually make payments on behalf of
  the business they are working for, and their
  duties will include paying supplier invoices,
  taking charge of expenses and petty cash.
• Cashflow
• Your bookkeeper will keep a close eye on the
  day-to-day running of the business

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• and be responsible for ensuring that it doesnt
  run out of money that could be needed for daily
  expenditures. They monitor the balance of
  revenues to expenses and will take formative
  action or give guidance should it look as if the
  company may require more ready cash.
• Books preparation
• While a bookkeeper can fulfil multiple roles
  within a business, there are some elements that
  an accountant will take care of, and its the
  bookkeepers responsibility to make sure that the
  accountant has accurate and timely accounts to
  work from. The accountant can then use their
  specific knowledge and skills to

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• report to the board, complete company tax returns
  and make business recommendations.
• In short, a bookkeeper handles the daily running
  of a businesses finances so that the accountant
  can focus their energies upon formulating
  strategic financial operations. A bookkeeper is
  vital to the success of a business, and when
  combined with the expertise of an accountant,
  they can help make a business a success, and keep
  them on the right side of the IRS.

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