A company’s bookkeeper serves the function of transactional data entry. They handle the day-to-date entries of accounting. This includes both the sales and expense sides. In addition, payroll and sales tax filing may also fall under the realm of the bookkeeper. The quality of the bookkeeping entries greatly impacts the financial statement output.
Examples of Bookkeeping Services
- Accounts Payable and Expense Entries and Payments
- Accounts Receivable and Sales Entries
- Payroll Processing & Filing
- Sales & Use Tax Filing
- General Ledger Entries
Business Scenario
Meet Ben. Ben just started his business a couple of years ago. His wife, Amy, had been handling the accounting entries on the side of working a full-time job as a teacher. But the entries have become too much for her to handle.
Ben has been debating about hiring a full-time bookkeeper. But he doesn’t think the workload would warrant hiring a full-time employee. Ben is a good candidate for an Outsourced Bookkeeping Services engagement.
By outsourcing the bookkeeping entries, Ben optimizes his resources. He only pays for the time needed to do the entries (not for a full-time employee). Amy is also thrilled to have more of her free time back.