Importance of a Bookkeeper

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.

importance-of-bookkeeper
A bookkeeper is very important!

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.

Kamran Ullah