Hire the best bookkeepers

All about bookkeepers

Small businesses require the tracking of expenses, inventory and cash flow, which serve as a basis for reporting their holdings and assets, tax filing, reports about future expenses and sales, and reports for its overall health, like balance sheets and P&L reports. If you’re just getting started, you may do all of these things yourself, but a growing business can benefit from outsourcing this detail-oriented task.

There are two kinds of financial personnel for this: bookkeepers and accountants. The contrast between the two parties is that the former tracks daily financial info, while the latter analyzes and makes sense of the data over time.

Bookkeepers record the information on software tools such as Quickbooks to keep track of all the debits and credits that culminate in a trial balance, which accountants then verify. They can also file documents, pay for invoices, purchase supplies (or disburse money to parties, if dealing with a remote team), do administrative errands like prepare and procure legal reqs, make bank deposits and prepare financial reports, among others.

Look for a person who has a basic knowledge of accounting and the tax code, is detail-oriented and who is skilled at data entry without error.