What Do Bookkeepers Do?
Primarily the role of the bookkeeper in your business is to record financial transactions using an accounts package like Xero or Sage.
They will process all your purchase invoices, matching to dispatch notes or delivery notes, and reconcile supplier statements. Then some make payments to suppliers too. They will also raise sales invoices, chase payments and send customer statements out. Some bookkeepers process all your bank transactions onto an accounts system and reconcile your bank account.
Bookkeepers will also prepare VAT returns, run payroll, process CIS payments and file self-assessment returns. They reconcile accounts up to trial balance level and can rarely prepare management accounts.
They also turn a pile of messy papers into something ordered and accurate. They work on a daily, weekly or monthly basis as required for your size of business. A good bookkeeper is a valuable asset to a business and should not be seen as an unnecessary cost.
What Qualifications Should Bookkeepers Have?
Ideally, you should be hiring a qualified bookkeeper. They are accredited with the Institute of Certified Bookkeepers (ICB), the International Association of Bookkeepers (IAB) or the Association of Accounts Technicians (AAT Bookkeeper).
All qualified bookkeepers have a practice licence and are regulated by all AML legislation and compliance. Always check with your bookkeeper that they are practicing under a licence.