Keeping accurate books should be a main priority for every business. A bookkeeper handles the books while you grow your business. This avoids wrongly classified expenses, not completing month-end reconciliations that result in under or overstated Income Statements, incorrect Balance Sheets which can all be detrimental to your business.
Thanks to modern technology & many online cloud-based software, virtual bookkeeping services have become the norm for businesses nowadays. This means that there is no longer a need for staffing a department to handle bookkeeping tasks, which in turn can save on costs associated with full-time employees.
In general bookkeepers are responsible for overseeing financial information & ensuring compliance by maintaining accurate books relating to accounts payable and receivable, daily bank entries & reconciliations.
The process of bookkeeping is centered around recording & keeping track of financial transactions that a business undertakes daily.