If you’re struggling to keep all the plates up in the air, you might be looking to outsource some of those job duties, like bookkeeping.
Trying to figure out what is all included in bookkeeping services can be a little confusing, but we’re here to help! Here’s a basic idea of what to expect when you hire a bookkeeping service.
A bookkeeper’s job is to record financial transactions. This is for accounts payable, accounts receivable, and sometimes payroll. Here’s a list of daily tasks.
- Record customer billings, customer payments, and vendor payments
- File vendor bills and payments
- Enter deposits and payments
- Pay bills
- Complete payroll (you might outsource payroll, in that case, your bookkeeper will probably confirm hours for all staff members with your payroll company)
- Make vendor payments
- Prepare & send invoices
- Reconcile all bank and credit card accounts
- Review past due customer payments
- Past due collections
- Check & review inventory
- Create reports – P&L, balance statement
There are probably other job duties that can be included in bookkeeping services that might be more specific to your business or industry. This is just a good starting point to get your head wrapped around it. If you’re ready to get all these job duties off your plate, contact Reconciled. They are a virtual bookkeeping firm that provides industry-leading virtual bookkeeping and accounting for businesses and entrepreneurs across the US.