325 Companies Offering Bookkeeping Services

Bookkeeping

If the term ‘bookkeeper’ brings up images of Uria Heep type characters scratching away in their ledgers, then think again! A bookkeeper is a respected member of the accountancy team and is involved in the invaluable job of maintaining your day to day financial records.

To run a business successfully you need to have a clear idea of the financial transactions that take place on a daily basis. This is the role of the bookkeeper, who can then advise you on how your business is operating at any given point in time.

Daily Tasks

Your bookkeeper updates your daybooks, which consist of your purchases, sales, receipts and payments. All transactions need to be recorded in the appropriate book, such as suppliers’ ledger, customer ledger and general ledger.

The bookkeeper brings all the records to the trial balance stage, the purpose of which is to prove the value of all debit values balances equals all the credit value balances. Any errors in the ledgers would then show up as an inequality between credit and debit. This then gives the bookkeeper an opportunity to find the error before the profit and loss statement and balance sheet are prepared, hence it is called the trial balance sheet.

The Difference between Bookkeeping and Accountancy

Bookkeeping relates to accountancy but is distinct, in that it is seen as the preliminary stage to accounting. Accounting is a much broader term, covering many different aspects, whereas bookkeeping is concerned with maintaining, organising and storing the financial information on a day to day basis.

A bookkeeper may also be responsible for preparing financial statements, tax returns and internal reports, depending on their level of knowledge and experience.

An accountant, on the other hand, designs the bookkeeping system, ensures it is working well, analyses and verifies all the information. They will suggest methods to improve the financial security of the business, based on the records they receive from the bookkeeper.

The accountant prepares reports and measures profitability, which is reliant on accurate information be passed on from the bookkeeper.

A small business may decide to act as bookkeeper themselves, and pass on the information to their accountant to create the necessary reports and analyse. However, it is a skilled and intricate process, and many businesses prefer to employ a qualified and experienced bookkeeper. It is quite common for one bookkeeper to work with several businesses; however large companies usually employ a bookkeeper in house due to the complexity and enormity of the task.

If you are looking for a bookkeeper, regardless of the size of your company, look for someone with a proven track record. After all, one decimal point in the wrong place could see a Tiny Tim type Christmas for all….



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PO Box 347, MACKAY, QLD North, QLD

0749514233

9,895.64 km away

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Suite 2 Conway House 6 Island Drive Cannonvale, QLD

07 4946

9,898.76 km away

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PO Box 4680, GLADSTONE, QLD

07 49725177

9,901.71 km away

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PO Box 919, HERVEY BAY, QLD Central, QLD

0741242088

9,918.20 km away

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53 Wellington Cres, HERVEY BAY, QLD

07 46628700

9,918.98 km away