What Does a Bookkeeper Do?
Thinking about hiring or outsourcing a bookkeeper for your business, but asking yourself what does a bookkeeper do? Want to know exactly what they can do for you and how their work differs from an accountant? Then you’ve come to the right place. In this guide, we’re running through a bookkeeper’s key responsibilities and duties that can help keep your business run smoothly behind the scenes and keep your records well organised and compliant.
The primary role of the bookkeeper is to keep your financial records updated. Whether they’re using digital software or organising paper files, it’s their job to present the information in a way that your accountant can easily digest and access to perform their duties.
Bookkeepers can do the following for your business:
- Collect and record all your receipts, invoices and transaction details. This will usually be logged on a software system. It’s their job to make sure that everything is accounted for and recorded appropriately.
- Work with you to make sense of the figures, such as assigning costs to specific clients.
Produce accurate, real-time financial reports throughout the year.
But there’s more to bookkeeping than simply recording daily transactions. Some bookkeepers will be able to go the extra mile and assist with:
- Solutions that streamline your business workflow
- Offer payroll services to simplify the way you pay your employees
- Clean-up mistakes made by inexperienced staff
- Train small businesses to use accounting software
- Offer day-to-day assistance for small business owners
How does a bookkeeper differ from an accountant?
While bookkeepers are trained to use the same financial recording methods as accountants, their main responsibilities usually differ.
Accountants use the data supplied by the bookkeeper to file tax returns and other official reports. They essentially ensure businesses remain HMRC compliant and are also able to provide high level business advisory services.
Looking for a bookkeeper to keep your financial records, reports and obligation on top form? Ratiobox small business bookkeepers work as part of your extended team to deliver all these solutions and more. We effortlessly integrate with your team and business to get the job done, whilst also looking for areas for improvement. We believe reaching your financial goals starts with accurate and compliant bookkeeping. Speak to one of our advisors today to see how we could help your business reach new heights.