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Category: Bookkeepers

5 Tips for Brilliant Bookkeeping

Whether it’s your goal to grow a thriving business, it’s essential to truly have a safe pair of hands handling the accounts. Inaccurate bookkeeping could harm your business and may also lead to severe penalties – but having strong financial statements can save you in many various ways.

The bookkeeper’s job is to keep rigorous accounts of all financial transactions – everything the business sells, buys, owes and is owed. This is vital, and not just because you need accurate annual financial statements. Good bookkeeping can also assistance with a lot more exciting, forward-planning side of things – because knowing days gone by makes it much easier to predict the near future.

Here are some of the main element things a good bookkeeper should do.

Keep the business and personal finances apart

If you are a sole trader you aren’t legally obliged to have a separate business bank account – but you should have one nevertheless. Otherwise your books will be a nightmare to keep, if you don’t record every penny of personal spending too.

If your business is a restricted company, it is another legal entity from you, so its money is not yours to spend (except on business expenses).

Keep clear and separate records

Bookkeeping typically requires at least three ‘books’ (i.e. financial records): the cash book, sales invoices, and buy invoices.

Your money book records everything passing in and from the business’s bank-account. This record of cash flow makes it an invaluable planning tool, as you can make use of it to underpin forecasts.

Your sales invoice file keeps an archive of all of your sales. Keep unpaid invoices together in a separate section. Your purchase invoice file should record all purchases chronologically, see more at this site:

Control your credit

A full sales ledger is a lovely thing, but if your customers haven’t paid yet, that beauty is merely skin-deep. Set strict deadlines for your customers to pay their bills for you, and consider blacklisting repeat offenders if you believe they are really taking advantage. Chase every late payment, as each is actually an interest-free loan. Without rigorous credit control, a tiny business can quickly develop a cash-flow crisis. 

Track expenses

Business expenses can be claimed against tax, so tracking them is vital for cutting overheard and maintaining healthy cash flow. Use a business bank card where possible and keep careful records of all other expenses, categorizing them by business activity.

The bookkeeper will categorize of expenses can prove especially important if your business happens to be audited. Numbers on tax returns are frequently estimates so it really helps to have the ability to provide supporting evidence for these.

Plan ahead

One of the better reasons to keep track of where you’ve been is the fact it helps you work out where you’re going. Looking at days gone by year’s books, you can usually spot the days when a bit more forward planning could have saved you money and stress.

Identify the major expenses of the year ahead and fix them in your business plan. Anticipate likely business costs (e.g. insurance costs or IT upgrades) but always give priority to your tax obligations – you will not have the ability to delay these. There could be occasions when your business seems awash with cash, and you could be tempted to obtain more than usual – having a complete roadmap of future expenses will warn you to be careful.

A bookkeeper can care for your bookkeeping as well as providing an array of other valuable services for your business. Seek out one locally using our smart search. Read more.




Learn How to be a Bookkeeper

How do you feel about accounting and bookkeeping? You will either be all for it or running from it. If you are the latter, keep on running however, if you would like to know the backbone of what runs your business than read on and learn. All businesses, regardless of what kind of operation you got going will run on some type of bookkeeping. Accounting and bookkeeping are essentially in order to ensure that the funds are available to run the business.If you don’t know anything about bookkeeping don’t fret. According to an article, you can learn bookkeeping at home through the mail and or the internet. With internet and or mail order courses, you can get the accreditation or certification that you need to become your own bookkeeper and even change others for your service. Learning bookkeeping is obtainable and could assist you greatly in your own business. As a bonus, if you can become good at bookkeeping than you could do it freelance as well giving you yet another stream of potential income.

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Information on Bookkeepers — Job Description

Information on Bookkeepers — Job Description

Becoming a Bookkeeper

Bookkeeping jobs require the patience in having to deal with 40-hour+ workweeks and have an excellent attention to detail. Some are just happy and contented a freelance jobs while they are able to perform and maintain their full time jobs. Bookkeepers account for at least 2 million on the available jobs within the US. The statistical data shows that they was such a steady and growing demand for bookkeepers. To know about bookkeeping and its allied information, click at

On top of academic and experiential requirements, there are also non-tangible requirements that add to the bookkeeper job description, such as character traits for one to be considered apt for the job. These traits include:

• Great attention to the tiniest details to spot and avoid errors at the same time.
• Capacity for integrity and discretion as bookkeepers find themselves working with confidential matters from time to time.
• Good communication ability interlaced with a very commendable interpersonal ability to deal properly with the clients.
• Good grasp of mathematical systems and ability to operate complex accounting computer software.

Information on Bookkeepers — Job Description

Who are book keepers?

The bookkeeper’s job description includes calculating expenditures of company, the filing up receipts, recording reports on both payable and the receivable accounts, and the preparation of financial statements that reflect the profits and losses. Among several job descriptions, the profession requires being computer literate. Bookkeepers gather their knowledge of the job through education and experience earned by being an apprentice before moving on to being a professional in the field. Bookkeepers are employed to maintain the financial books of businesses ranging from small-scale to large enterprises. Bookkeepers are sometimes called accounting clerks or auditing clerks.

Nature of Bookkeeping Job Description

Large enterprises employ a whole team of bookkeepers, each specializing in a particular segment of the financial books. The one that handles everything that deals with the payroll, may have the position of payroll master or clerk. Another will handle all accounts receivable and a colleague will handle all accounts payable. Entry-level clerks simply crunch the numbers, record and input data. More expert ones who are holding for a supervisory positions get an additional responsibilities such as balancing all the records, doing bank reconciliations and formulating company-wide policies that will help achieve the financial goals of the entire organization. Corporations that need a team of bookkeepers either source out the responsibility to independent firms or they may maintain a whole department that deals with their finances. All businesses, however, will employ independent auditors at least once to check on the records and postings of bookkeepers as a measure of checks and balances.

Individual bookkeepers are employed in small-scale businesses while large enterprises employ the services of whole auditing or bookkeeping firms to keep their finances in order. When financial books or records are left to amateurs, chances are high that any business will flop or fail either from mismanagement of assets or through forced closure because taxes are not properly paid. A bookkeeper job description is also to ensure that all assets are accounted for. Without the detailed work of an accounting clerk, funds may go missing. Some firms even delegate the task of taking care of the payrolls, purchasing or procurement of tangible assets and collect form debtors. Detailed information about tangible assets can be obtained by clicking here.