A Bookkeeping service gives companies a flexible and scalable accounting solution that grows with their business. Individuals employed and performing accountng duties in this service are called Bookkeepers. A Bookkeeper, also known as Accounting Clerk, is a person who is responsible in recording the financial transactions and activities of a business or entity. They make sure that all business transactions are recorded in the accounting books, in chronological order, with sufficient evidences and supporting documents. Their job today is simplified and made more comfortable using accounting softwares.
A Bookkeeper is responsible for recording a company's or entity's business transactions such as sales, purchases, payroll, collection of accounts receivable, payment of bills, etc. Eventually the transactions will be recorded in accounts within the company's general ledger. They are also liable and accountable in keeping the business book of records accurate and complete. Another responsibility of theirs is to provide summary reports of the business transactions to facilitate professional accountants in preparing financial statements.
In hiring a Bookkeeper, it is important that they are knowledgeable in accounting and the financial industry. They are expected to be accurate, efficient, and knowledgeable about debits and credits, the chart of accounts, accounts payable procedures, sales and accounts receivable, payroll, and more. To be sure you are hiring the best fit for the job, seek the help of outsourcing companies. Outsourcing companies in the Philippines have a pool of talents who are effective and deliver quality work.
The cost of hiring a Bookkeeper depends on two main factors: educational background and work experience. The candidate must be knowledgeable in accounting and bookkeeping. If the candidate has relevant working experience and training in bookkeeping services, you can expect a demand for a higher rate. Also, it is important to note that a Bookkeeper's rate depends on the size and nature of the work.