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Unveiling the Superpowers of Bookkeepers: What Does a Bookkeeper Do?

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What does a bookkeeper do
2 min read

Financial wizardry…

Have you ever wondered about the secret superheroes behind the scenes who keep your business’s financial records in tip-top shape? Wonder no more because today, we’re unveiling the superpowers of bookkeepers!

You see, bookkeepers are like financial wizards. They have the magical ability to transform a pile of receipts, invoices, and bank statements into organised and accurate financial records. With their expertise, they bring order to the chaos and make your financial life a whole lot easier.

So, what exactly does a bookkeeper do?

Let’s dive in!

Organising Your Financial Records: A bookkeeper’s first superpower is their exceptional organisational skills. They meticulously sort and categorise your receipts, invoices, and other financial documents. They ensure that everything is in its rightful place, making it a breeze to track your income and expenses.

Data Entry and Reconciliation:

Bookkeepers are masters of data entry. They enter all your financial transactions into your choice of accounting software, keeping your records up to date. They also reconcile your bank statements with your books to catch any discrepancies and ensure accuracy.

Accounts Payable and Receivable:

Managing the flow of money in and out of your business is crucial. Bookkeepers handle accounts payable, ensuring that bills and invoices are paid on time. They also manage accounts receivable, tracking customer payments and sending reminders for any outstanding invoices.

Payroll Processing:

Your bookkeeper can take care of your payroll needs too. They calculate wages, deduct taxes, and prepare employee pay slips. They’ll make sure your team gets paid accurately and on time.

Financial Reporting:

Bookkeepers are skilled in generating financial reports that provide insights into your business’s financial health. They create balance sheets, income statements, and cash flow statements, giving you a clear picture of your business’s performance.

ATO Compliance:

Staying on the right side of the Australian Taxation Office (ATO) is crucial. Bookkeepers ensure your financial records are compliant with ATO regulations, making tax time a breeze. They’ll help you gather the necessary documents and get you ready to prepare an accurate tax return.

Let us help

Now that you know what bookkeepers do, it’s time to unleash their superpowers for your business. At ProfitAbility VA, we have a team of friendly bookkeepers ready to assist you. Book a free 15-minute chat with us today, and we’ll discuss how our bookkeeping services can support your business’s growth. Say goodbye to financial stress and hello to organised and accurate records. Let our bookkeepers handle the numbers while you focus on what you love—the success of your business.

Contact us today to learn more about our bookkeeping support services.

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