A bookkeeper is responsible for processing the paperwork for a company's business transactions. Ultimately the transactions will be recorded in accounts within the company's general ledger.
Bookkeepers are expected to be accurate, efficient, and knowledgeable about debits and credits, the chart of accounts, accounts payable procedures, sales and accounts receivable, payroll, and more. Each bookkeeper's specific responsibilities will vary by type and size of the business.
The bookkeeper's role may be expanded to include adjusting entries in order for the bookkeeper to generate income statements and balance sheets from the accounting software.
The bookkeeper's work is usually overseen by an accountant and/or the small business owner.
Bookkeepers play an important role in most companies. As the name of the position clearly implies, bookkeepers are tasked with the maintenance, balance, and update of accounting books. It is the duty of a Bookkeeper to record all the financial activities of the company they work for.
Since they are the ones that keep track of all the money that goes in and out of a company, Bookkeepers are employed by all sorts of organizations, both in the private and public sectors. Large companies employ entire teams of Bookkeepers to run their respective departments. Some medium or small businesses have a single person in charge of this, whereas some others prefer to hire Accounting firms that specialize in providing this service to third parties. Some Bookkeepers, however, are self-employed.
Bookkeepers prepare financial reports based on the information they have gathered from the financial books they keep. Based on these reports, share-holders, managers, and superior accountants can accurately know the financial status of the company and may make an informed decision on how they should proceed on future projects.