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Bookkeeper

The bookkeeper at a business firm is responsible for keeping accurate, up-to-date business records for proper cash flow management, balance sheet preparation, and developing expansion and investment plans. A bookkeeper also assists in filing tax returns with updated tax records.

Accurate bookkeeping is a legal requirement and should be kept well within the standards that are set by local and federal tax agencies. Businesses may also be asked to present the accounts and records to the authorities. Irregularities can lead to severe punishments such as hefty penalties and even imprisonment of the business owner.

A bookkeeper accurately records all of the financial transactions. It is the responsibility of bookkeeper to note all monetary transactions that are received and paid out. The records also include outstanding balances that the company owes to other parties and others who owe to the business.

Computer systems have made the job of bookkeeping a lot easier. However, a bookkeeper with in-depth knowledge of accounting is still required to manage bookkeeping tasks at any business. Bookkeeping requires a lot of time and attention to detail in order to keep the records straight and up-to-date. The latest trend in bookkeeping is online bookkeeping, where companies with branches in different countries can manage accounts from one single location. Thus, the learning skills and capabilities of a bookkeeper are put to the test today more than any other time in history.

Business bookkeeping takes a lot of time and cannot be done in a hurry. If it is, there will be confusion and might even lead to legal action taken by tax authorities. Keeping company records well maintained not only helps you make accurate investment and expansion decisions in a timely manner, but also helps you stay clear of any legal difficulties.

At small businesses, bookkeepers also double as company accountants. Perhaps bookkeepers have the biggest responsibilities in the company as business planning, payroll management, and tax return preparations are dependent on accurate bookkeeping.

A bookkeeper needs to be a team player. This is because all monetary transactions, inward or outward, need to be accurately recorded and well audited. Many people in the organization, especially the ones who handle smaller amounts of money, do not feel the need to report all transactions that pass through them. This adds to the workload of the bookkeeper. However, today this is not much of a problem with ERP systems that accurately records all transactions and makes them available to bookkeeper’s computer for prompt action.

Bookkeepers often do not have the qualifications or certifications of accountants, but the responsibility is not any less. Bookkeepers also work for only one business at a time. Business owners pick bookkeepers who have passed a degree or certificate course in accounting, finance, record keeping, or business management. Proficiency at accounting software is a must for all modern day bookkeepers.

Bookkeepers that have a great deal of experience can market themselves as accountants or managers. For that, they also need to supplement their profession with certificate courses, seminar attendance, and on-job training.

Bookkeepers have many lucrative career options today. All types of businesses require bookkeepers who are experienced in their specific business functions.

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