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Duties and Responsibilities of a Bookkeeper

A Bookkeeper is responsible for recording and maintaining a business’ financial transactions, such as purchases, expenses, sales revenue, invoices, and payments. They will record financial data into general ledgers, which are used to produce the balance sheet and income statement.

The bookkeeper is generally responsible for overseeing the first six steps of the Accounting Cycle, while the last two are typically taken care of by an accountant. 

In larger businesses, a bookkeeper is responsible for overseeing and reconciling hundreds of financial transactions. This is typically done with the assistance of various software systems, and for this reason, technology literacy is incredibly valuable for the profession. A few other relevant skills and job duties would include the following:

Relevant Skills and Knowledge
  • Basic accounting knowledge
  • Understanding accounting best practices
  • Knowledge of IFRS, U.S GAAP, or another accounting framework
  • Data entry skills
  • High attention to detail
  • Proficiency in Microsoft Excel
  • Produce work with a high level of accuracy
  • Professionalism and organization skills
  • Associates degree or at least one year of experience
  • Knowledge of XERO, Quickbooks, Zoho, Fresh Books, or other applications

Bookkeeper Duties:

  • Maintain records for all financial transactions, including cash, receivables, payables, and bank reconciliations
  • Review cash receipts against invoices, prepare bank deposits, and reconcile bank accounts to the general ledger
  • Maintain accounting records and files for audit purposes
  • Oversee payroll processing, including preparation of payroll checks
  • Procure supplies, office equipment, and supplies
  • Maintain employee records, including time sheets, scheduling, and recruiting
  • Manage petty cash
  • Process payroll, including calculating payroll taxes, filing forms, and delivering paycheck stubs to employees
  • Prepare accurate financial statements
  • Create bank reconciliation statements

Bookkeeper Responsibilities:

  • Manage the accounting department and supervise the accounting staff
  • Maintain and update general ledger, accounts payable, and accounts receivable systems
  • Record general ledger entries, including receipt and payment of cash, payroll, accounts payable, and accounts receivable
  • Maintain accounts payable and accounts receivable aging reports, including monthly, quarterly, and annual
  • Prepare annual financial statements for audit
  • Maintain and reconcile bank accounts and prepare monthly bank reconciliation
  • Maintain inventory of all fixed assets
  • Maintain accurate records of fixed assets
  • Perform bank reconciliations monthly
  • Maintain bank deposit slips and monthly bank activity reports
  • Maintain general ledger and accounts payable records, including receipt and payment of cash, payroll, accounts payable, and accounts receivable

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