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What does a Bookkeeper do?

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Talent.com talent.com
Answered July 09 2021
Career Expert at Talent.com
Bookkeepers prepare financial reports based on the information they have gathered from the accounting books they keep. Based on these reports, shareholders, managers, and superior accountants can accurately identify the company's financial status and decide how they should proceed with future projects. These highly astute professionals are responsible for keeping a company's financial records, which is no easy task. It involves posting entries on revenue and expenses into the ledgers, balancing accounting books, preparing cheques for payrolls, tax returns, and writing financial statements for the company. They will also have touchpoints with the company's tax return documentation, handling it with the utmost care and accuracy.  
The majority of Bookkeepers work a standard 40 hours a week, Monday through Friday. However, in times close to deadlines or more work than usual (e.g., processing end-of-month accounts or at the beginning or end of the fiscal year), it is common for Bookkeepers to work extra hours.  
Most of the work is office-based, and there's little interaction with the general public. Traveling is typical for self-employed Bookkeepers when they need to meet with their clients.  

Roles and Responsibilities of a Bookkeeper
If you are considering a career as a Bookkeeper, you should be mindful of the daily tasks that they perform. Take a look below for a listing of the primary responsibilities that make up the average day of a Bookkeeper:  
  • Keeping the financial records of a company.
  • Establishing parameters for accounting books. 
  • Maintaining and balancing the books and operating bookkeeping systems as required. 
  • Posting daily journal entries into accounting ledgers 
  • Checking and recording daily revenue and expenses and balancing both entries. 
  • Preparing accounting reports that analyze past and current accounting statistics in the company and verifying that all expenses are accounted for and adequately documented. 
  • Confirming that all incomes are accurately reported and writing a report based on this information. 
  • Creating and maintaining a company’s budget.
  • Explaining the budget to clients or supervisors and advising on budgets. 
  • Preparing financial statements, calculating end-of-year accounts, and writing and presenting reports based on these accounts. 
  • Preparing payrolls, utility cheques, invoices, and other bills. 
  • Preparing tax return reports and complying with taxation legislation and regulations.  
  • Locating possible deductibles and advising on tax issues or irregularities. 
  • Projecting future statistics for the company based on current balances.