Print report and payslips for filing away and pay wages by due date after authorization by your manager. About the Author. Make sure all timesheets have been received from employees. The key attributes of a good bookkeeper are being a stickler for accuracy and completeness. When it comes to running a company, you need everything in place and to run properly in order for your business to continually function, especially anything related to your financials. When an item or services are purchased the ledger will be updated to reflect the new expense in the records. A bookkeeper has a variety of duties related to their profession. She would do a meta-analysis of the business and her knowledge will bring in aspects other than the more fundamental daily transactional business activities that are the territory of the bookkeeper. As laid out in our filing and archiving procedures, file all documents into appropriate folders. Quentin Pain helps people thinking of starting a business and those already in business achieve success via his marketing company ProofMEDIA. To do the … Set up and maintain chart of accounts in bookkeeping software in accordance with the double-entry system and local tax laws. After a completed stocktake, if discrepancies are found make sure necessary adjustments are made in the software immediately. What Are Bookkeeping Functions? The functions of a bookkeeper may be many and varied however there are a few straightforward procedures that every bookkeeper will know about such as recording, balancing and securely filing financial transactions. Payables. Check your emails first thing when you come in, and regularly throughout the day. The bookkeeper will need to have great data entry skills and thoroughness. Pass faxes received to relevant personnel. Most bookkeepers now enter information from receipts or bills into computers, and the information is then stored electronically. Every quarter (four months), print inventory report from the bookkeeping or inventory software and count stock items. Bookkeeping is an essential role that every business owner should be able to handle, and he should enlist the help of someone who can take care of this task if he cannot. It’s important for bookkeepers and accountants to have a clear idea of what it takes to be sure that the information coming out of the accounting system is complete, timely, […] Sometimes, a strongly worded reminder letter helps, and sometimes it may be necessary to hand the account over to a debt collection agency. Bookkeepers mind the books, sometimes quite literally. The function of bookkeeping. However if you learn about what you need to do yourself you can often do a large amount of the basic information inputting yourself and may only need to hire a bookkeeper or accountant as you come to file your information with the IRS in the USA or HMRC in the UK. Order blank petty cash slips. You may be given access to the bank to process vendor payments, check for customer payments, download and print bank statements or import them into the bookkeeping software. Calculate net payments. If unable to meet the deadlines, speak to your manager. purchase ledger (which means to check on all the items bought by the company and follow up on the payments made and organise everything to do with that)). Part of the bookkeeper duties is for the bookkeeper to stop and rest for morning and afternoon breaks, and for lunch! Enter purchase invoices into the bookkeeping software, reconcile bills to statements, process payables report, request authorization from management to pay bills and pay them by due date. A bookkeeper's daily job duties require strong accounting and mathematical skills. The Role of a Bookkeeper . Never keep passwords written down. The bookkeeper’s role is to keep his accounts according not only to basic bookkeeping principles but also with regard to the company’s rules and specifications and most importantly following legal requirements. Keep in regular touch with management and/or business owners on all things related to the business bookkeeping system and report any issues immediately. A stocktake must be performed during the last month of every financial year. Save my name, email, and website in this browser for the next time I comment. All folders on computer need to be backed up to external drive provided [or online storage system]. Keep log updated. Prepare and send customer statements by end of monthly cycle. If in doubt the bookkeeper should refer to HMRC or his local tax consultant. Get our certified online bookkeeping course TODAY. Bookkeepers oversee a company’s financial data and compliance by maintaining accurate books on accounts payable and receivable, payroll, and daily financial entries and reconciliations. It is most important that the duties of the business bookkeeper are fully documented. Bookkeeping, therefore is a fantastic profession to persue and is one of the most versatile career paths you can follow. If unable to do so, then give the client, vendor or other contact a time-frame in which you can reasonably fulfill the task and be sure to get it done by promised date. Send faxes as required. A bookkeeper is responsible for keeping records for small businesses, recording all financial transactions and keeping the company budget balanced. She will need to have a head for figures and double check her work at all times. Bookkeeper Job Duties. Enter all expenses into the bookkeeping software. Be ready to explain the financial health of the business to management and the owner. Her filing systems will be orderly and also updated as and when for instance when data needs be destroyed once it has served its purpose. Many of these functions require bookkeepers to communicate with clients. Prepare and send sales invoices from within bookkeeping software. Small business owners who are just starting out are often led to believe that they need to employ a bookkeeper in order to maintain their financial records. They record financial transactions for businesses, typically using database and spreadsheet programs that have been selected and set up by an accountant. Write the cheque/check number and date onto the relevant bill that is being paid and into the bookkeeping software. Assist with budget preparation Bookkeeper, 2016 – 2017 Citrin Cooperman, New York, NY Duties and Responsibilities 1. Deliver these deposits to your bank at the end of each day. Is adequate and reliable duties is for the month ahead the month ahead the month ahead will! 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