A bookkeeper is someone who records financial transactions for a business, individual or a non-profit organization. A bookkeeper has a prime importance to a business. This is because financial records kept by him is then analyzed and summarized to present financial statements.
10 Importance of a bookkeeper
- A bookkeeper has an important role of recording receipts from customers.
- Have an important function of verifying invoices from suppliers.
- A bookkeeper is responsible for recording year-end adjustments to extract an adjusted trial balance.
- He/she has an important role of recording cash paid into the bank accounts of a company.
- A bookkeeper has a key role in planning budget as he/she is the one who is organizing expenses for you.
- A bookkeeper might be involved in tax preparation for a small business. However large companies have a separate tax department.
- With a bookkeeper in your office, you can easily track your expenses and profits, this way you don’t get out of the track.
- A Bookkeeper keeps the books for you so that you can focus on your business.
- A bookkeeper helps you present better and transparent financials to your investors. As he/she is involved in recording all the transactions. The same transactions are summarized to prepare financial statements.
- A bookkeeper places you in a better position for financial management. As all your records are organized, you know a clear picture of your business (at any time). You know how much money you are owed and how much money you owe to others.