What does a bookkeeper do? What are the job duties and responsibilities? It is what we will be discussing in this blog post. As a business owner, you need to know what is a bookkeeper job description. We will also discuss how a bookkeeper can help your business grow. Keep reading to learn more!
What Is a Bookkeeper?
A bookkeeper is responsible for keeping track of the financial transactions of a business. It includes recording, categorizing, and storing the company’s financial information. A bookkeeper also reconciles accounts to ensure that everything is accurate and up-to-date.
Related: The Ultimate Guide to Bookkeeping For Beginners 2022
Why Do You Need a Bookkeeper?
As a business owner, you will have a lot on your plate. It would help if you handled day-to-day operations and customer inquiries, developed marketing strategies, and more. It is why it is essential to have someone who can focus on the financial aspect of your business.
Having a bookkeeper will allow you to free up your time to concentrate on other essential tasks. A bookkeeper can help you grow your business in several ways.
Track Finances
One of the essential bookkeeper duties is to track your company’s financial transactions. It includes recording receipts, invoices, and other documents. A bookkeeper can also help you keep track of your expenses. This way, you will know where your money is going and where you can save.
Create Financial Reports
Another bookkeeper’s responsibility is to create financial reports. These reports will show you how your business is performing financially. It will also give you insights into where you need to improve. Financial statements can help you make better business decisions.
Save Time and Money
As we mentioned, having a bookkeeper can save you a lot of time. You no longer have to keep track of your finances yourself. It means that you can focus on other aspects of your business. A bookkeeper can help you save money by catching errors and preventing fraud.
As you can see, there are many reasons why you need a bookkeeper. If you are still not convinced, we suggest that you hire a bookkeeper for a trial period. This way, you can see first-hand how a bookkeeper can help your business grow.
Related: How to Start Sari sari Store in the Philippines?
Bookkeeper Job Description: What Does a Bookkeeper Do?
Now that we’ve discussed the importance of having a bookkeeper let’s look at what they do. Here are some of the bookkeeper job description:
Record Financial Transactions
The first bookkeeper’s responsibility is to record all financial transactions. It includes sales, purchases, receipts, and payments. A bookkeeper must make sure that all transactions are recorded in the correct accounts.
Categorize Financial Transactions
The second bookkeeper must categorize all financial transactions. It helps businesses keep track of their expenses. A bookkeeper usually categorizes transactions by types, such as office supplies, marketing, or salary.
Reconcile Accounts
Another bookkeeper’s responsibility is to reconcile accounts. It means comparing the records of a business with the statements from its bank and credit card companies. It helps enterprises catch errors and prevent fraud.
Prepare Financial Reports
One essential bookkeeper’s duty is preparing financial reports. These reports show businesses how they are performing financially. Financial statements can help companies to make better decisions.
As you can see, bookkeepers have a lot of responsibilities. It is why hiring a bookkeeper you can trust is essential. Do your research and take your time when choosing a bookkeeper.
How to Choose a Bookkeeper: Bookkeeper Job Description
Now that you know the importance of having a bookkeeper, you may wonder how to choose one. Here are some things to look for in a bookkeeper:
Experience
The first thing you should look for in a bookkeeper is experience. You want to hire someone who has been in the business for a while. A bookkeeper with experience will be able to handle your finances more efficiently.
Accuracy
Another essential quality to look for in a bookkeeper is accuracy. You want to be sure that your bookkeeper is recording all transactions correctly. It will help you avoid errors and fraud.
Trustworthiness
The last thing you want is to hire a bookkeeper you can’t trust. Be sure to research and choose a bookkeeper you feel comfortable with.
How Does A Freelance Bookkeeper Salary Philippines?
A freelance bookkeeper in the Philippines can expect to earn a salary of around 10,000 PHP per month. This salary can vary depending on experience and skill set. Bookkeepers with more expertise and specialties can expect to earn more. Bookkeepers that are just starting may earn less. Many bookkeeping jobs are available in the Philippines, so bookkeepers should have no trouble finding work. The demand for bookkeepers is high so that bookkeepers can negotiate their salaries.
- Entry Level: 10,000 PHP per month
- Mid-Level: 15,000 PHP per month
- Senior Level: 20,000 PHP per month
Conclusion
So, if you are looking for a job that is essential to the success of any business and can help you save time and money, bookkeeping may be the perfect fit for you. Do your research when choosing a bookkeeper and look for someone with experience and accuracy. Trustworthiness is also essential when selecting a bookkeeper. You want to be sure you can trust your bookkeeper with your finances. If you’re looking for a great bookkeeper in the Philippines, we suggest you check out our website. We offer bookkeeping services at an affordable price. Contact us today to learn more!
Recommended: 15 Common Bookkeeping Mistakes Filipino Business Owners Make – And How to Avoid
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