What Are The Duties Of a Bookkeeper
The tasks that a bookkeeper must perform are described in depth on this page of bookkeeper responsibilities. You will gain an understanding of what bookkeeping entails as a student or anyone considering a profession.
Do you need to create a document for your human resources file because you own a business? Use these bookkeeper responsibilities as a starting point, then modify them to fit your office’s policies. To achieve this, you may add or delete activities, modify the descriptions, and rearrange the order of the tasks using our Word template, which you can download by scrolling to the bottom of the page.
Each job depicted here might have a comprehensive “how-to” in your office’s procedures folder. Any new hire who steps into the post will be able to execute responsibilities more quickly as a result.
Duty Schedule For a Bookkeeper:
Complete each work by the deadline:
Keep a current calendar of all the tasks you need to finish for the upcoming month. Make sure all tasks are completed by the deadline. Speak with your management if you won’t be able to reach the deadlines.
Before entering the workplace each morning, take the mail out of the post office box. Open the mail, give it to the staff, and recycle the envelopes. Deal with any bookkeeping papers you receive, including customer checks, purchase invoices, bank and credit card statements, and general letters, in an acceptable manner.
Pick up the phone:
As soon as the phone rings, pick it up. Call the appropriate people, take messages as needed, and address any difficulties or questions regarding bookkeeping as needed.
Organize and save papers:
Place all papers in the proper folders, following our filing and archiving guidelines. Make sure all folders are free of outdated information by archiving it. Make careful you adhere to the electronic filing requirements.
Documents by fax:
Keep paper on hand for the fax machine. Send received faxes to the proper parties. Send out faxes as needed.
Documents may be scanned and saved to your computer as needed. To submit a bill or invoice to a client with questions, for instance, you might need to scan it.
Respond to email:
As soon as you arrive at work, as well as frequently during the day, check your emails. Respond to client emails the same day, even if it’s only to inform them that you’ve received them and will get back to them as soon as you can. Any follow-ups you need to do should be planned out on your calendar. Move emails that have been handled into an electronic folder or your calendar to keep your in-box as clear of emails as possible.
Send money to the bank as deposits:
For all cash, checks, and other receipts, create deposit slips and match them up with the appropriate sales invoices in your accounting software. At the conclusion of each day, deliver these deposits to your bank. When consumers ask for receipts, especially for cash, provide them.
Upkeep of your check book:
Make sure to include all relevant information on the check or check stub so that it is clear what it is for. Write the check or money order number and date on the appropriate bill that is being paid and enter them into the accounting program. Give your management the bill and the check to sign and approve.
Log up to online banking:
You could be granted access to a bank account so that you can make payments to vendors, check for payments from customers, download and print bank statements, or import them into accounting software.
Utilize a computer and accounting software:
The daily usage of a computer and bookkeeping software (or an online bookkeeping tool) is required for this position. Every day before leaving the workplace, software that is retained on a PC should be saved or backed up.
Process backups from the PC and store them somewhere safe:
All computer folders must be backed up to the specified external drive or online storage service. Make sure the external drive is always taken outside the building.
Store all passwords in a safe location:
Never write down your passwords. As soon as you get them, remember them, and throw away any paper copies. It is forbidden to provide passwords to other employees or anybody not working in the workplace.
Simple familiarity with computer programming:
Create ordinary correspondence and accounting spreadsheets using Word and Excel.
Memos and letters:
Prepare, save, and print any necessary documents, including memos and letters.
Setting up spreadsheets with precise calculations and meticulously checking data are both crucial components of the job of a bookkeeper.
Reconcile the cash book and the bank account:
At least once per month, reconcile the company account, savings accounts, and credit statement, making sure that each item is classified to the appropriate account.
Interaction with individuals verbally:
You will be required to answer calls from customers and suppliers who have questions about their accounts, invoices, and payments, to take orders for goods, and to speak with the bank and tax department as necessary.
Prompt response to inquiries:
All questions and concerns must be resolved right away. Give the customer, vendor, or other contact a realistic time period in which you can do the work if you are unable to do so, and be sure to complete it by the deadline.
Receipts to be made:
Enter the purchase invoices into the accounting software, compare the bills to the statements, process the payables report, and then ask management for approval to pay the bills before the due date.
You may create and send sales invoices from your accounting software. Before the conclusion of the monthly cycle, prepare and transmit client statements. Make daily deposits of checks and money orders and verify the bank for client payments. Create a monthly report on receivables. launch debt collection efforts for past-due accounts.
If an account is past due, get in touch with the client and follow up if the payment is not received by the due date. Talk to your management about the best course of action if there are persistent problems. A stern letter of reminder can be helpful in certain cases, but in other cases it could be essential to turn the account over to a debt collection company.
Take a stock count:
Print an inventory report from the accounting or inventory software once per quarter (four months), then count the stock items. Inform management of any inconsistencies. Every financial year must end with a stock take, which must be done in the last month.
Observe the petty cash box. Purchase empty cash slips. Make a slip every time money is taken. Keep the log current. All costs should be entered into the accounting program. Close out the petty cash at the end of each month.
Using double-entry accounting:
For bookkeeper responsibilities, having a solid grasp of double entry bookkeeping is crucial.
Revision of journal entries:
Check the bookkeeping accounts at month’s end. Enter the adjusting journal if any transactions need to have their codes changed. As an illustration, if you wish to convert printer ink from stationery to consumables, you should make the change in your journal.
Meals and Breaks:
A bookkeeper’s responsibilities include stopping and resting for lunch, morning, and afternoon breaks.
Checks from general ledger:
Once a month, quickly review the general ledger to make sure the accounts are correct and it balances.
Pay employees through processing payroll:
Verify that you have received all employee time sheets. software for paycheck updates. Determine the net payments. Print reports and payslips for storage, and, with your manager’s permission, pay salaries before the deadline. Employees should either get their pay slips through email or print them out. Always make sure payroll deductions and revenues are compliant with the most recent regulations imposed by the government.
Prepare payroll deduction reports:
Ensure that all payroll deductions and taxes are reported to the tax department and paid by the due dates.
Prepare, submit, and reimburse the government for sales tax returns:
Make sure you submit and pay the tax department by the due dates for any sales tax income and deductions.
Upkeep of the chart of accounts:
Create and maintain a chart of accounts in accounting software in line with local tax regulations and the double-entry system.
Keep a precise inventory system:
Ensure that the appropriate asset, cost of sales, and income accounts are formed for new stock item codes. With care, both while receiving fresh product into your inventory account and when selling it, too. If differences are discovered after a stock take is finished, ensure the appropriate software modifications are implemented right away.
Deal with exchange of foreign currencies:
They have to keep accurate foreign currency accounting using the most recent exchange rate.
Create accounting reports:
Prepare a profit and loss statement, balance sheet, and any other reports that management may request at the conclusion of each monthly cycle. Be prepared to update management and the owner on the company’s financial situation.
Send a report to the management and business owners:
Keep in constant contact with management and/or the business owners on all matters pertaining to the bookkeeping system for the company, and report any difficulties right away.
Create checks for the fiscal year’s conclusion:
Process end-of-year processes and checks when the bookkeeping system has been updated with all of the financial year’s data. Make all necessary revisions, then gather the necessary paperwork.
Contact the tax accountant:
Give the tax accountant the year-end paperwork and documents so they may create the financial statements and determine the amount of income tax due.
Supervise apprentices in bookkeeping:
As needed, supervise bookkeeping interns to make sure they accomplish their assigned responsibilities on time and have access to all relevant resources.
As you can see, this list of bookkeeper responsibilities is very lengthy, but you could still come up with more tasks that belong on it.