A bookkeeper is one who documents all financial transactions for a business. Bookkeeping involves the recording, storing, and retrieving financial transactions including those for:
- Vendor bills and payments: Keeping track of suppliers’ payments will not only keep your company under a good reputation with vendors, it will also increase your credit.
- Customer invoices and collections: monitoring invoices ensures you are getting all of your payments on time to keep a smooth cash flow.
- Checking and credit cards: keeping track of every payment and transaction to make sure there is no fraudulent activity or incorrect transactions is essential for anyone, not just business owners.
- Inventory management: Poor inventory tracking can cause you and your company to run out of supplies, possibly even when you need it the most, and make an easy target for theft, whether it’s from customers or even employees.
- Recording and reconciling payroll transactions: Tax prepares will need to know these numbers to make
- Revenue reconciliation with deposits: Categorize each transactions