A bookkeeper is an individual performing tasks related to accounting or finance, such as record-keeping and maintaining financial records of a business or organization. The person responsible for keeping the financial records of a company or organization is called its “bookkeeper”.
A bookkeeper is similar in function to an auditor who examines the accounts of an organization for potential errors and irregularities. In some jurisdictions, they are also sometimes known as an accounting technician or accounting technician trainee.
Etymologically, ‘Bookkeeping’ comes from two words: 1) ‘book’ which means contented record; 2) ‘keep’ which implies to maintain records with care. A book keeper does both things – maintaining books carefully! Bookkeepers typically do data entry into spreadsheets and journals using computerized accounting software as well as manually entering data into books by hand such as receipts, checks written, bank statements etc., but all manually entered data should be later matched with entries made on computerized systems so that there are no errors/discrepancies between manual and computerized records.
They may also produce reports regarding specific aspects of their work for management purposes only (such as profit margin reports), they would not be involved in preparing the income tax returns of their employer nor do they prepare balance sheets unless they are working at a corporation where it is required by law that every month management accounts must be prepared by management; it usually takes about 3 hours per month.
A good bookkeeping department will have integrated systems so that information from one set of books seamlessly flows into another (for example customer invoices flow directly into purchase orders then directly into sales transactions; employees’ timecards flow directly into payroll transactions). This integration helps eliminate double entry recording ensuring better accuracy than when information was physically transferred from one system to another.
In addition, because information flows seamlessly throughout the entire system there is no delay getting information needed elsewhere within the system (e.g.: customers calling asking why their invoice hasn’t been paid yet because it has been posted but not paid yet).
Most small businesses tend not to consider fully automating their operations until reaching around $1 million turnover annual run rate where economies of scale really start kicking in significantly when compared with smaller businesses; however every business size can benefit greatly definitely individually even if on a smaller scale when comparing different types estimating models used within respective businesses.