Bookkeeper descriptions vary from one company to the next – from one industry to another. Still, there are a few rules all bookkeepers abide by, defining who they are and what they do to help businesses.

What Exactly Is A Bookkeeper.

The primary goal of a bookkeeper is to review, manage and address the financial records of a business. A bookkeeper is charged with maintaining accurate balance sheets, taking into consideration all the company’s assets, liabilities, etc. They may be asked to control bank feeds, keeping track of them for potential mistakes in incoming and outgoing funds.

Bookkeeping duties can include but are not limited to:

• Bill payment records
• Track and categorize expenses
• Payable and receivable account management
• Reconcile bank and credit card accounts
• Payroll
• Inventory management

Why Should You Hire A Bookkeeper?

The number one reason a business owner would hire a bookkeeper is to free up time. We recommend this Bookkeeping service in San Diego. A business owner can spend time on other important aspects of their business. It also gives them peace of mind that a reputable bookkeeper is keeping accurate records of their finances. With a bookkeeping service, tax time tends to go much more smoothly.

The majority of experienced and knowledgeable bookkeepers offer an array of services – services that go beyond just keeping track of money coming in and going out. They can find where you can improve and grow your services. They can let you know when a service or product will cost more and come up with an alternative solution to it.

When Is It Necessary To Hire A Bookkeeper Rather Than Outsource?

Most small business owners find there is no need to hire a bookkeeper. They will either do it themselves or reach out to a freelance bookkeeper to handle the books.

According to research, nearly 40 percent of these business owners work 60 or more hours a week for their business. Think about how much time you spend on the business and weigh it against the cost of a freelance bookkeeper. You may see that it’s better to outsource than do it yourself because you can spend your time on other things.

Time is money, but if you’re spending your time on maintaining books, you can’t spend your time making money. With a bookkeeping service or freelance bookkeeper, you could actually earn more money for them to keep track of.

A bookkeeper should be hired at the start of your business. After all, they can help you to know where you stand, what moves you can make without overspending and tell you which moves will actually do you more harm than good. At tax time, this person will already have the records organized for your tax preparer to review. If you’re audited, these organized records will be invaluable.

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