Bookkeeping is a time-consuming and complex, yet necessary exercise. If you decide to do your bookkeeping yourself, you are highly likely to make a mistake that can result in compliance and other issues. Also, you may be unable to make time for your most important tasks.

Instead, hire a full-charge bookkeeper. A full-charge bookkeeper performs a wide range of bookkeeping tasks. They work with the CPA firm hired by the client to prepare financial statements and tax returns.

Here are some duties of a full-charge bookkeeper.

Data entry

A full-charge bookkeeper is responsible for feeding data into the business’s systems regularly. When entering data into a system, the bookkeeper must watch out for common data entry mistakes such as transposition errors, missing values and change -induced inconsistencies.

A full-time bookkeeper is also responsible for pulling information from the system when required and preparing weekly or monthly reports that the business owner can use to assess business performance.

Payroll Processing

Payroll processing involves checking timesheets, calculating payroll tax and superannuation, keeping accurate employee records, and calculating any commission payable to employees. These tasks need a lot of effort. A full-charge bookkeeper handles all tasks related to payroll processing and can save you time and money.

Expense Tracking

A business must record all its expenses and reconcile it with purchase orders. A full-charge bookkeeper carries out the task. They also enter petty cash transactions and details related to credit card purchases into the business’s accounting system.

Financial Reporting

Full-charge bookkeepers are responsible for preparing financial statements such as the business’s income statement and balance sheet. They reconcile the business’s bank record with financial records to identify errors.

Full-charge bookkeepers are also tasked with forecasting cash flow so the business owner has important information that they need to compare expected performance with actual performance and take necessary action.

Invoicing and Receipts Management

One of the most important sources of cash for a business is customer payments. Every business needs to stay on top of customer payments.

A business’s bookkeeper makes sure invoices are sent to customers on time. They also follow up on late payments and manage incoming cash.

General Ledger Maintenance

Ledger maintenance is vital to a company’s success. In a small or midsize business or a startup, the full-charge bookkeeper may have sole responsibility for preparing and updating general ledger.

Bookkeepers are trained to dig deeper and uncover hidden insights. A knowledgeable bookkeeper is an asset to the business and can help the decision-making authorities make heads or tails of data provided by the business’s general ledger.

Virtual Jeannie Bookkeeping Services is a renowned bookkeeping firm near you. We offer a wide range of bookkeeping services. Our pros have the expertise and experience required to design customized bookkeeping solutions. To talk to one of our bookkeepers, call (707) 664-1425.