Business

The Duties of a Bookkeeper in a Company

A bookkeeper plays a vital role in most businesses and is of course required to have proficient mathematical skills and accounting skills to provide a good input into their company in terms of its finances. This is by no means an easy job; you are accountable for maintaining an error-free clear record of the finances in your company. The difficulty and level of responsibility of the job will be dependent on the size and culture of the organization. Most bookkeepers have a general set of practices they must follow on a daily basis to ensure they are aligned with the expectations of the company.  Let us take a look at some of these basic practices.

Maintaining Financial Records

This is of course the core function of what any bookkeeper will do. Bookkeepers have to update their records on a daily basis and everyday their ledgers must reflect an accurate representation of all financial transactions for that day. Balancing and updating all banks accounts within the company is vital to ensure that payments have been made and that all deposits are in place as they should be. Remittance is another core responsibility; bookkeepers are usually in charge of handling all remittances in the company. It is essential to do all remittances on time to keep all relevant stakeholders happy. Delays in remittances can damage stakeholder confidence in the company and this is something that any company can ill-afford.

Communication with all Co-workers

Bookkeepers maintain financial records for co-workers in a company so it is vital to have a good level of understanding and communication with all staff members. Some workers do not always follow the set procedures by the company so this makes it difficult for bookkeepers to maintain their records for them. A good example would be that some workers do not collect receipts for various payments they make for official purposes so this inhibits bookkeepers from doing their job properly. A systematic approach of maintaining receipts and managing reimbursement can do wonders for any bookkeeper. This would make communication a whole lot easier as well. Most bookkeepers have claimed that accounting itself is said to take 50 percent of their time while the rest of their time is spent on trying to communicate with their co-workers for all kinds of details to complete their ledgers. Some Bookkeepers are professionals in using accounting software such as Xero and companies are now on the hunt for such professionals as they are skilled. In Australia it is not hard to find a certified Xero bookkeeper in Melbourne for example, as software such as this makes life easier for the employees as well as the company.

Inventory and Budget Needs

Any company will need to maintain a stock of inventory and most companies appoint the duties of checking on the levels of inventory to their bookkeepers. Bookkeepers should essentially inform the relevant personnel when inventory levels are critical and ensure there is no shortage of stocks that inhibit the organization.

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