What is a Bookkeeper?

A bookkeeper is responsible for a company’s financial data.

Bookkeepers do the recording and maintaining a business’ financial transactions, such as accounts payable and receivable, payroll, and daily financial entries and reconciliations.

Good bookkeeping is essential to know whether a business is earning sufficient profits or incurring losses. That's why a business needs to record transactions and maintain the books to understand the financial position of the company.

Here are the three reasons you might need a bookkeeper:

• Unorganized paperwork

• Unclear monthly closing processes

• Incomplete monthly financial statements

Now that you learned how essential bookkeeping is to your business, the next step is to find a professional team to get you started.

If you are starting and want to DIY your bookkeeping, here are some tips:

• Record transactions regularly

• Keep complete and accurate records

• Be consistent in doing it

Whether you do it yourself or hire a professional to guide you, the basics will help to understand your business finances.

We hope you learn something useful about bookkeeping.