Bookkeeping and What Is It?    

» Posted by on Sep 18, 2018 in Bookkeeping | 0 comments

There seems to be a little confusion between bookkeeping and accounting. However, let me reassure you those two are not the same thing. Bookkeeper is the person that will keep track with your financial recordings. They will be the one to assist you with that while an accountant is someone who will look at the data and analyze so that they can give you the right financial advice. With good and confidence bookkeeper, you can relax and go on vacation even on Thailand, rent a beautiful, relaxing house on the beach and enjoy in your sea view! 

Bookkeeping

If you are interested in hiring a Metairie bookkeeper you should understand what they do and how do they do it, in the most basic level so you don’t have to worry about what should be and shouldn’t be. Below is an in- depth explanation about the various responsibility of a bookkeeper.  

Process and maintain the payroll system.  

Bookkeeper is task to process and maintains the payroll system of your company. There will be records of that and they would be task of ensuring that each employee gets their due. A due that is entitled to them.  

Initial Financial Statement preparation  

The bookkeeper would also be given this task that would soon be overtaken by the accountant. However, it is a bookkeeper’s job to prepare the initial financial statement for the accountant to look over.  

Process invoice, payments and receipts  

A bookkeeper will be the one to process the invoice, payments, receipts and other financial transaction. They will have to keep track of this all for emergency purposes and they would also be doing all of the brunt work for this one.  

Managing your accounts  

A bookkeeper would also be managing your accounts. Making sure that you can tide over with your debts in the account. A good account manager will ensure that you can rise more than what you are used with in the account and make sure that your debts will not run you asunder. 

Review your accounting systems  

They would also review your accounting systems and see what works best. If the bookkeeper thinks that you need to do a particular thing to make it better they will be task to redesign and established that new system.  

Basically there is a lot of thoughts and in- depth job that goes to being a bookkeeper. Of course, there is nobody telling you that if you are a bookkeeper you cannot under any circumstances do accounting. If you are able to do it and have the knowledge to do it, you certainly can. This article is simply trying to convey that those two concepts although almost the same are very much different.  

A bookkeeper is not only doing with those 5 points above, there is a variety of tasks they can do and that they are also very important things too. To become a bookkeeper you’ll have to learn the insider scoop of it, meaning you’ll have to go study it. It is a job that should be given much though and the attention to detail should also be important. After all one wrong record can put the business into jeopardy. 

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