Bookkeeping is a time-consuming and tedious chore, but also one of the most essential business activities. If your team has too much on its plate and you don’t want to overburden your team members, outsource your bookkeeping. A bookkeeper near you will manage your bookkeeping so your team can focus on the most important tasks.

Here are some things bookkeepers do for businesses.

Day-to-Day Management of Accounts

Your bookkeeper will track every business transaction. They will monitor your cash flow and make sure all your financial records are both up-to-date and accurate. They will flag inconsistencies and bring them to your attention in a timely manner, making sure problems are resolved swiftly.

Get Ready for Tax Season

Taxes are complex. No wonder most business owners hate doing taxes. Many business owners procrastinate doing their taxes, which is a flawed approach. Tax planning is a year-round activity, not a one-day exercise. If you put tax tasks on hold till the last minute, you are likely to make costly mistakes that can lead to an IRS audit or fine.

A bookkeeper near you can help prevent tax day headaches. They will keep your books up-to-date and organized to ensure they give an accurate picture of your business. You can miss tax deadlines, your bookkeeper won’t.

Payroll Processing 

Some bookkeepers help businesses with payroll processing. Payroll services can include accurately classifying employees, setting up and making adjustments to direct deposit accounts, calculating payroll taxes, and ensuring compliance with state and federal laws governing payroll.

Preparing Financial Statements  

Bookkeepers are responsible for preparing some of the most important financial statements: including profit and loss statements, cash flow statements, and balance sheets for their clients. These financial records help determine the financial health of a business.

Managing Accounts Payable and Accounts Receivable

Your bookkeeper will stay on top of your accounts payable and accounts receivable. They will prepare and send invoices to your customers in a timely manner and make payments on your behalf. Bookkeepers are responsible for chasing overdue invoices and managing the accounts payable ledger.

Managing Bank Feeds

At a basic level, bookkeepers manage the transactions brought in through their clients’ accounting systems bank feeds. Accounting software categorizes certain transactions. Bookkeepers keep an eye on these transactions and make sure they are categorized accurately. Bookkeepers also manually add transactions that aren’t included in their clients’ bank feeds.

Virtual Jeannie Bookkeeping Services is one of the most trusted bookkeeping firms in Sonoma County. We have years of experience helping businesses get their financials in order. To make an appointment with an experienced bookkeeper, call (707) 664-1425.