What Does a Bookkeeper do?
What Does a Bookkeeper do?
“What do you do for a living?”
“I’m a bookkeeper!”
“So… what does that mean?”
Hi, I’m Breanna the bookkeeper. You’ve probably heard this term thrown around when talking finance and business. But a lot of people don’t know exactly what we do!
Because people tend to avoid this side of business and financial management (I know, you probably think it’s boring), they don’t know all that a bookkeeper can do for them and how they differ from an accountant.
Well girls, I’m here to clear the air and show you how hiring a bookkeeper can change the way you run and make money in your biz.
Let’s do this.
What is a Bookkeeper?
A bookkeeper is an experienced professional who can help keep your business’s finances organized. They document and keep track of any money coming in and out of your business to help you manage it better. They focus on short-term financial statements and processes and are less expensive to hire than a CPA.
Here are a bit more details on how they achieve that and their primary duties.
Main Roles and Duties of a Bookkeeper for Your Small Business
1. Preparing Financial Statements
This is the big one. A bookkeeper takes care of four main financial statements:
● Income statement - A comparison of your profits vs. losses over a given time
● Balance sheet - An overview of your financial situation at any given time
● Cash flow statement - Documentation of any cash coming in and out of your business
● Statement of retained earnings - How well your earnings and savings have retained or changed during a period of time
These help you have a better idea of how much you’re actually making and what you can do to increase your profits and cut your losses.
2. Make sure you’re on time to pay your bills AND get paid
Think of your bookkeeper as your personal reminder for bill payments AND your best pal who’s got your back and making sure you’re getting paid on time.
We like to keep things flowing on time and professionally.
3. Get your finances and statements ready for your CPA
Bookkeepers can help prep the information you need for your taxes so you don’t have to scramble as soon as the clock strikes April.
We’ve already taken care of it all!
A bookkeeper can also save you money because it means less work for your CPA.
4. Keep you on budget
If the word “budget” makes you cringe, your bookkeeper’s got your back. By tracking and managing your expenses, we can help you strategically maintain your annual budget, increasing your earnings, and boost your ROI.
5. Process payroll
Yet, another thing you don’t really want or have the time to do yourself. Make sure your employees and contractors are paid correctly and on time by letting us complete payroll.
Sound like something you definitely could use?
If you’re ready to get more time and money out of your business, reach out to me and let’s chat!