A bookkeeper is responsible for recording and maintaining the financial transactions of a business. Their core duties include:

• Recording daily financial transactions such as purchases, expenses, sales revenue, invoices, and payments into accounting ledgers

• Managing accounts payable (bills to be paid) and accounts receivable (invoices to be collected)

• Reconciling bank statements and other financial documents to ensure accuracy of records

• Producing invoices and chasing payments to maintain cash flow

• Processing payroll and ensuring compliance with tax and labor regulations

• Preparing financial statements like profit and loss reports, balance sheets, and cash flow statements, especially in smaller businesses

• Keeping financial records up-to-date and aligned with relevant laws and tax deadlines to avoid penalties

• Monitoring cash flow to ensure the business has sufficient funds for day-to-day operations

• Handling inventory records and stocktaking for businesses that sell products

Bookkeepers often use accounting software to manage these tasks efficiently and may assist accountants by preparing data for tax returns and annual financial reports

. Their work provides the foundational financial data that accountants analyze to support business decision-making

. In summary, a bookkeeper ensures accurate, timely, and organized financial record-keeping to help businesses manage their finances effectively and stay compliant with financial regulations.