They may be responsible for managing inventory, tracking sales, and handling cash and credit card transactions. A bookkeeper is responsible for recording transactions into the system, which is part of the wider and more general practice of accounting. Not only are you entrusting your bookkeeper with sensitive data, you are relying on their accuracy to maintain the financial records for your business. A good bookkeeper never cuts corners, and they are indispensable to small business owners who want to spend time growing their business, instead of maintaining it.

These programs store all invoices, receipts, and other records in a central location, automatically generating financial reports on your behalf. The best bookkeeping software also helps track invoices and records payments. GoCardless can make invoice collection easier by automating the process using ACH debit payments, https://www.bookstime.com/articles/enrolled-agent-salary saving time for you and your customer. It also integrates with hundreds of accounting partners for a streamlined workflow. A bookkeeper is responsible for recording and maintaining a company’s daily financial transactions. They also prepare reports for the managers and trial balances to assist the accountants.

The Benefits of Automated Bookkeeping

The options are endless for what a bookkeeper can do for you and your business, but we’ll list a few below to give you an idea. Kelly is an SMB Editor specializing in starting and marketing new ventures. Before joining the team, she was a Content Producer at Fit Small Business where she served as what is a bookkeeper an editor and strategist covering small business marketing content. She is a former Google Tech Entrepreneur and she holds an MSc in International Marketing from Edinburgh Napier University. Below is a sample bookkeeper job description that you can customize to meet the needs of your business.

Simply put, a bookkeeper is someone who manages and records all the financial goings-on of your business. They track financial transactions and ensure your accounts and records are accurate and complete. Bookkeepers are responsible for maintaining a business’s financial records. This means updating all accounts to show the day’s transactions, debits, and credits. The main responsibility is maintaining and updating financial records for a company. This usually includes balancing and updating bank accounts to ensure that all payments and deposits have been accurately reported.

Download the guide about bookkeeping

Many founders either don’t have the time or don’t have the expertise to do their own bookkeeping. The right bookkeeping solution can save you valuable time and hassle without sacrificing your financial health. At BELAY, we have an extensive interview process where we carefully vet candidates for you to ensure all of these qualities are found.

Bookkeepers aren’t required to be certified to handle the books for their customers or employer, but licensing is available. Both the American Institute of Professional Bookkeepers (AIPB) and the National Association of Certified Public Bookkeepers (NACPB) offer accreditation and licensing to bookkeepers. As your business grows to include more customers, vendors, and employees, keeping track of your finances on your own becomes more challenging. When comparing accountants and bookkeepers, know that an accountant may also be a bookkeeper.