Liaising with accountants, clients, banks and tax authorities.Maintaining the monthly and annual budgets.Generating financial statements and reports.Maintaining and monitoring financial records. Preparing a cash flow statement (records of the cash coming in and going out).Preparing income statements, showing a company’s revenue and expenses.Checking and verifying payments against bank statements and other records.You could also hire additional bookkeepers in order to expand your business and offer your services to more clients.Ī bookkeeping business will have many day-to-day responsibilities, including: However, it could be that your bookkeeping business is asked to do some of an accountant’s duties.īookkeeping doesn’t require any specific training or qualifications, making this career an attractive one for many people.Īs part of your bookkeeping business, you may choose to handle the finances of only one business or company, or you could bookkeep for multiple businesses. The accountant also uses the data to create financial reports. An accountant analyses the data provided by the bookkeeper to help the business make financial decisions. A bookkeeper is responsible for recording all daily transactions and allows the business to understand its finances right now, whereas an accountant will offer a future look at a business’s predicted finances. The information may also be used when the business is preparing its quarterly and annual reports.Īlthough many of their tasks are similar, a bookkeeper and an accountant have very distinct roles from one another. The records that a bookkeeper is responsible for are often used by businesses to make financial decisions and develop profit and business growth strategies. Essentially, a bookkeeper helps a company or business keep its finances in order. A bookkeeper is an individual who is responsible for preparing accounts, recording daily financial transactions and providing precise, up-to-date financial records and information about a business.
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