Recording Financial Transactions: They keep track of all incoming and outgoing money, such as sales, expenses, and payments.
Maintaining Ledgers: Bookkeepers use ledgers to organize the financial data into categories, like assets, liabilities, income, and expenses.
Reconciliation: They ensure that the company’s financial records match up with bank statements and other financial documents, ensuring accuracy.
Managing Payroll: Some bookkeepers handle payroll, making sure employees are paid correctly and on time, and that all payroll taxes are calculated.
Preparing Financial Statements: Bookkeepers may help prepare basic financial statements, like balance sheets and income statements, to provide a snapshot of the company’s financial health.
Tax Preparation: They may assist with tax preparation by keeping records of deductible expenses and ensuring compliance with tax regulations.
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