If you have a business here in Victoria BC, you’re probably already aware of the term bookkeeper and bookkeeping. As of now, you may have been doing your own financial records, recording down every single transaction that is happening within your business. So basically what you’re doing is bookkeeping.
A bookkeeper, then, is someone who is responsible for the company’s business transactions. He or she will record these transactions in the company’s ledger. Being a bookkeeper means being accurate, efficient and well versed in not only debits and credits, but also many other aspects of bookkeeping such as account payable processes and procedures, account charts, and payroll.
Most of these tasks, especially debits and credits, are done on a daily basis. It’s better for a bookkeeper to keep an updated ledger by recording the company’s business transactions on a daily basis to ensure a more accurate record rather than compiling the records and only enter them at the end of the month. A meticulous and thorough bookkeeper is an asset to a company for he or she is able to know where every single cent goes to and can tell right away if something is not right.
Now as to whether you should hire a bookkeeper or not, is really up to you.
However, a lot of business owners do not hire a bookkeeper early enough. Most business owners tend to wait for their business to grow and expand before they finally decide to hire one.
As a matter of fact, it’s a better idea to hire a bookkeeper at the early stage of your business because as a new business, you will have more challenges and obstacles to face. Having a bookkeeper to maintain and look after your business transactions will allow you more time to concentrate on building and expanding your business. There is no need for a bookkeeper to be in your office every day because he or she usually comes in on a weekly basis to discuss things over with you or bring any matter to your attention. Plus with current technology and conveniences to share things online, you’re able to communicate with your bookkeeper at any given time.
A bookkeeper is someone who does these tasks day in and day out, so they tend to become very good at it. Their efficiency and competency can take one thing less off your mind. A bookkeeper is not someone who provides his or her opinion about your business transactions, so you will still have control about your business finances. His or her main role is to solely assist you in keeping an updated and accurate record of your business transactions.