Remote-Bookkeeping
What is a Bookkeeper?
A bookkeeper is responsible for recording the transactions of a company from sales, purchases, payroll, bill payments and more.
Many bookkeepers today are four-year degree students and/or certified by a bookkeeping association after training and passing an exam. Bookkeepers’ duties and responsibilities will vary based on your industry and business size but can be as involved as month-end and adjusting journal entries, depreciation, amortization and capitalized cost entry.
Bookkeepers will enter transactions and categorize them to the proper chart of account, reconcile bank, loan and credit card statements each month. These basic tasks will allow you to obtain accurate financial data and reports to aid in determining which areas of your business are profitable.
Bookkeepers can also pay bills, prepare customer invoices, process payroll and aid in collections to stay on top of cash flow.
Small businesses may handle these items themselves or allow their Accountant to do this work. The Accountant typically will then utilize one of their bookkeepers and just review the work. This is the least cost-effective method of getting a bookkeeper to help you.
As a business owner you understand that there is a markup on products, but this also applies to the services your CPA provides.
Do I need a bookkeeper?
You may not realize it, but all businesses have a bookkeeper, for many entrepreneurs and small business owners this may be one of the many hats they wear.
Here are some key considerations in determining if now is the right time to hire a bookkeeper:
- Consistently playing catchup at year-end to get ready for taxes
- Spend more time on bookkeeping tasks than focusing on selling, projects, and growing your business
- Have regular cash flow issues, often resulting from falling behind on invoicing clients and collections
- Your business has grown, and it becomes hard to stay on top of all the little details like entering receipts and filing. This could lead to potential missed tax deductions and cost you money.
The time you would save not having to deal with these issues will be well worth the few hours a month a professional bookkeeper would need to tackle it all.
A part-time remote bookkeeper can allow you to focus on your core business products and customers.