![]() ![]() ![]() Payroll – Not all bookkeepers will process the payroll for a company, it is dependent on the size of organisation they are working for. Other areas a book-keeper might work on are: -īank Reconciliations – making sure everything balances each month is a very important task as it is key that a company keeps a close eye on what’s going out and coming into their bank accounts. Failure to supply complete and accurate records to HMRC can result in a penalty being enforced against that business. This is done by either a book-keeper or an Accountant, depending on the experience and knowledge of the bookkeeper. It is of paramount importance for any business owner to have well managed records – these give him/her an accurate picture of their financial situation, enabling decision making, as well as planning for the future.Īt the end of each financial year, these books are then checked, reconciled and filed with HMRC. are kept carefully filed away so that, if required, they can be accessed quickly and efficiently to back up the records submitted to the HMRC (HM Revenue & Customs). ![]() Purchase Ledger - which details all the purchases made by the company and how much the business owes to people they have bought from, known as creditors.Īll associated paperwork such as invoices and receipts etc. Sales Ledger - which holds details of all sales the business makes, the amount of money which has been received by the business from each sale and the amount of money still owing to the business from those that have bought from them (known as debtors). The basic ledgers a bookkeeper needs to keep, either on a computer or in manual form, are:. Overall, it is the responsibility of the bookkeeper to accurately record all daily financial transactions which take place within a business. What does a Bookkeeper do?Ī typical bookkeeper has a long list of tasks they might perform. Though, depending on the experience of the bookkeeper there may be a crossover in the tasks performed. In short, a bookkeeper deals with the more day to day tasks involved in managing a company’s financial records, whereas an accountant will generally review and analyse the associated reports, look at the books at year-end to make any adjustment entries and complete the tax return etc. What’s the difference between a Bookkeeper and an Accountant? ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |