More from: Bookkeeping

The duties and responsibilities of bookkeepers.

Most of the people may have a though that bookkeepers do not have a lot to do. It should be very clear that bookkeepers have got a big task to perform. Bookkeepers keep track of someone’s money in any business, organisation, company or any field that which must require keeping properly the records of that particular business. In today’s living standards, the work of bookkeeping has greatly become modernised, it is not in the old days where you find that books are the ones which the important information is stored. Nowadays in most of the organisations, the work of bookkeeping in kept in the computer. The following are the duties and the responsibilities of the bookkeepers.

  1. Keeping and maintaining financial records.

In a business, every transaction is very important, but with recording finances is one of the very most sensing areas where the organisation depends on. Bookkeepers take a very important function in these field. Bookkeepers record all the income flow and the same time outcome of money, all the financial assets and property.  The most important bookkeepers’ duty is to be very keen on accurate data of finance. Bookkeepers usually use the electronic machines to manage all the financial data.

  1. They maintain general ledger.

Bookkeepersplay this role which is very important to the organisation. Bookkeepers maintain the general ledger by transferring the subsidiary summaries of all the accounts. Bookkeepers must ensure that tall the financial and duty ledgers are well maintained; they must look at them at every time in that business.

  1. Bookkeepers maintains the historical records of the organisation.

Bookkeepers play also this very important role in the business, they have this role to fill all the entries of the organisations. These entriesbecome very vital for future reference or any of the record that may be needed from the business. This records helps even thatshareholders when they would want to give their shares to the organisation so that they could be aware if their money is going to be on the safe side. The shareholders can use this records to see whether that particular business is making enough profits. Check here.

  1. Maintains subsidiary accounts.

Bookkeepers have this responsibility and therefore, they have to verify all the accounts. All the duties within the organisation lies on the hands of the bookkeepers. They have to allocate and post all the transactions which are needed.

  1. Bookkeepers compile with different staffs.

It is also another very important function to the bookkeepers. They have to coordinate so that all the requirements in the organisation can be available. The bookkeepers have to do all the follow up so that these things can be well done so that the organisation can run without any other minor problems.

In conclusion, bookkeepers play very important roles in the organisation. For every organisation, it is advisable for them to have at least one so that the business can be well run. This article will help you gain skills a lot on the duties and the responsibilities of the bookkeepers. Check out this site:

What Are The Disadvantages Of DIY Bookkeeping? Three Good Reasons to Hire a Professional

Thinking about not hiring a bookkeeper? To be honest, there are many who honestly think hiring a professional is not necessary and that maybe DIY is the best route to choose. Maybe that would be a useful solution for one or two businesses but it’s not always the smartest solution, especially when you don’t have a degree in bookkeeping! Want to know more about the disadvantages of DIY bookkeeping? Read on to find just three good reasons why you might want to hire a professional.

Mistakes Can Be Difficult To Spot

Everyone makes mistakes – even a professional – but there are differences between when you personally make a mistake and when the professionals do. When someone makes a mistake and aren’t trained in bookkeeping they might not be able to pick up the mistake unlike a professional bookkeeping service. That can make a real difference because if the mistake is not picked up it might result in you losing a lot of money. That’s why bookkeepers Melbourne have become highly sought after today.

It’s A Long Process

Bookkeeping is not always an easy process for the simple fact that there’s lot of tasks to take care of and lots to do in little time. That can be a real worry and it’s certainly something that most businesses can’t handle either. It can be a very long and drawn-out process to handle the basics of bookkeeping and it’s a problem to say the least. Hiring a professional will enable you to free up some valuable time and work on things that must be handled within the business. To find out more, check out

Disorganized Books Can Mean Potential Investors Are Put Off

What happens if you want to get an investor into the business? Usually investors take a good and very in-depth look at the books as they can tell an investor so much about the business. It is vital to ensure the books are in good order no matter what and yet far too many people have disorganized books. That is a real drawback when it comes to DIY bookkeeping. DIY bookkeeping is really unwise for those who want an investor to get involved with their business and getting good organization will enable a business to keep their books in good order. Without having proper order with the books a business can get so many simple things wrong. Hiring a bookkeeper can be highly important.

Hire a Professional

When it comes to bookkeeping it can be very difficult to get things just right simply because a lot of things can go wrong and it’s problematic to say the least. However, when you look at hiring a professional you can make things far easier for everyone involved. DIY bookkeeping can appear like a great option but there are many issues with it, especially if you aren’t qualified in this field. Hiring bookkeepers Melbourne are going to be a useful idea and certainly something that more and more will look towards as well. Click here for more information:

Bookkeeping Rate: Are You Paying Enough?

There are several concerns and/or aspects regarding on the business which you need to know and look into. Importantly, this is beneficial for you in generating profit. This would mean that more promotion with the customers can be built. However, you cannot deny the reality that bookkeeping can also be important. But since you cannot handle this alone, you need somebody to do the tasks. If you delegate the works for bookkeeping, one of your options is to hire certain in-house bookkeepers, get freelance bookkeepers, and/or outsource any bookkeeping duties. No matter how much you know about making financial statements or bookkeeping, you still need to have bookkeepers, especially if your business is progressing. Owning a business is not a simple thing to more information about bookkeeping at

Usually, when you are faced with these options the first thing that comes to mind is the bookkeeping rate. Each option has a different bookkeeping rate. As a businessman, you would think of how much to save in bookkeeping rate since anyway this is only a secondary concern compared to generating sales. But since it’s necessary to delegate some of the tasks, as much as possible you need to know how much an amount you will be spending.

Bookkeeping Rate: Are You Paying Enough?

The Rate Comes with the Service (Not the Other Way Around)

In reality, bookkeeping rate may become a secondary concern if you take the task with much dependable and trustworthy bookkeeper who employs the latest technology and who has the expertise in bookkeeping. In which case, you may be left with the option of outsourcing the task to companies who offer bookkeeping services. When you outsource your bookkeeping tasks, you will not only get away with the worry of bookkeeping rate with an in-house employee or the outdated practices of a freelance bookkeeper, click here to read more information about how to take help from freelance bookkeepers, you also get the accurate accounting information that is very important for your business’s decision making. It is also important that you have to look at rates when searching a person of whom you can surely delegate such accounting task for your business. It is also equally important that you get quality service from the most reliable person handling the most confidential document in your business. And, again, it usually goes with the price.

Evaluating the Bookkeeping Rate

Usually, a bookkeeper rate for a freelance bookkeeper can range from $15 to a $100 per hour. In the same way, the bookkeeper that you hire in-house would also have another rate plus all other benefits that you need to give. The outsourcing bookkeeper also has different bookkeeping rate depending on how much workload is assigned to them.

While it is important to know the bookkeeping rate so you can evaluate how much to save, it should go with the quality of service the bookkeeper provides you. The saying “you pay what you get” holds true even in bookkeeping. This means that if you want quality service, you need to decide if the cost of the bookkeeping is worth it. In the same way that if you pay a low rate, you might just be dealing with somebody who has no professional experience with regards to bookkeeping. For instance, the freelance bookkeeper from bookkeepers Melbourne may ask for the lowest cost, but you may be at risk of non-confidentiality or perhaps the use of an outdated bookkeeping system that may be hard for you to relate with your modern business setting.

How Can a Virtual Assistant Help Me with My Bookkeeping Virtually?

I get this question asked quite a bit as many small business owners just don’t like bookkeeping or don’t have the time. I can tell you that virtual bookkeeping can be done pretty easily but it does depend on what system you have in place and how comfortable you are with delegating to your virtual can read more information about bookkeeping rates at

The first consideration: how do I get the information to the bookkeeper?

There are a few ways to handle this and again it will depend on what process works best for you and the bookkeeper.

  1. Set up a file folder for each month of the year – January through December. Throughout the whole month, insert any of your card receipts, cash outlays and vendor bills to a folder for an appropriate file. When you receive any bank statement, you can then send the file folder to the bookkeeper via Priority Mail, Express Mail, FedEx, or UPS. Once the bookkeeper receives the file, the credit card charges are entered into the accounting program and the statement reconciled along with your business bank accounts. For this method, most clients do pay their vendor bills and send the check stubs to the bookkeeper for reconciling. Once the reconciliations have been completed, the bookkeeper will email you the monthly financial reports (Profit & Loss, Balance Sheet) and mail back to you all the receipts, which have now been attached to the appropriate statements (bank or credit card) for filing.
  2. For those of you who have online banking, it is very easy to use a virtual bookkeeper. There are a couple of ways this can be done. You can download your bank activity weekly, bi-weekly, or monthly and email the information to the bookkeeper for entry along with the monthly bank statement when it is here to read more information about bookkeeping virtually

How Can a Virtual Assistant Help Me with My Bookkeeping Virtually?

The second consideration:

  1. Accounting Program. If you are using QuickBooks, Peachtree or any other accounting software, you need to make sure that your version is the same as the virtual bookkeeper. Most accounting programs will allow you to restore a file from either the same version or version below (QuickBooks Pro 2009) but then you would not be able to restore the file back down to your version (QuickBooks Pro 2008). Most QuickBooks ProAdvisors do have multiple versions of QuickBooks on their computers. I personally have clients still using much older versions and they have opted not to upgrade because the version just works fine for them.
  2. You can even use remote access websites like in LogMeIn, PCAnywhere, and GoToMyPC where any virtual bookkeeper may log to your own computer, access to your files on QuickBooks and even update it as needed. The only problem with using this method is it will prevent you from using your computer at the same time as the bookkeeper and usually, the entering transactions can take a little bit more time due to the type of Internet connection you have.

For those of you who have had a long, established relationship with your bookkeeper, you can assign access to them through your bank, and they would then be able to log in and download the transactions and bank statements themselves.