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Bank feeds link up your accounting software with your business bank account, allowing you to see each transaction in real time. Manage Bank FeedsĪt a basic level, your bookkeeping service or bookkeeper should be managing the transactions brought in through your accounting system’s bank feed. Accounting software makes reconciliation pretty easy, but a human touch is still required to make sure all transactions are accurately recorded. It’s important to regularly reconcile your accounts to avoid overdraft fees, fraudulent charges, or incorrectly recorded transactions. Account reconciliation ensures that transaction details in your accounting software match transaction details on your bank account statements, credit card statements, and other financial account statements. The most important task for any bookkeeper is to reconcile your financial accounts. Here’s a closer look at what a bookkeeper does: Reconcile Your Bank Accounts

Make technology and process streamlining recommendations.Take on some payroll and human resource functions.Work with your tax preparer and assist with tax compliance.However, these are the most common tasks that bookkeepers tends to tackle: Just like any other field of work, bookkeeping can look different from business to business. There’s no one simple way to answer this question. We’ll explain the tasks that a bookkeeper can take care of for you, the going rate for a bookkeeper, and where to find a good bookkeeper. If you’re wondering what a bookkeeper does, then chances are you’re probably also wondering if you need one. Though the role of a bookkeeper is multifaceted, there are some core tenets to what bookkeepers do.

Plus, there are a few things that almost every bookkeeper can take care of for your business.

That said, most bookkeepers nowadays use business accounting software to do their work. Although bookkeeping can be in-house staff position, most businesses employ bookkeepers on a freelance basis.īookkeepers can wear many different hats depending on what a business needs. Bookkeepers might also help with financial statement and financial report preparation. Bookkeepers ensure that all of a company’s expenses, income, and transactions are recorded in the company’s books and reconcile the company’s financial accounts, typically on a monthly basis.