Basic Bookkeeping Duties

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Basic Bookkeeping Duties vary depending on the type of organisation and its size. There are many people who get the roles of bookkeeping and accounting duties confused, bookkeeping basically revolves around managing the financial records and financial reporting of an organisation. Some of the duties that a bookkeeper performs include:

  • bank reconciliations
  • accounts payable
  • accounts receivable
  • payroll and
  • inventory management

    Bank Reconcilitations

    Bank reconciliations involves the bookkeeper maintaining and reconciling the bank statements to what has been entered into the bookkeeping system. This ensures complete and accurate records of the bank deposits, withdrawals and payments that are made through the companies bank account. This is using a duty performed by a very experienced bookkeeper and is one of the most crucial roles that a bookkeeper performs. There is no error or inaccuracy that is acceptable.

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    With the payroll system, a bookkeeper has to see that wages and salaries and deductions are being paid correctly to the employees.

    Accounts Receivables & Accounts Payables

    In the accounts payable and receivable, a bookkeeper has to see that the payments that have been made and received are recorded in the form of invoices or purchases.

    If there are many cash transactions you may be required to record daily transactions in a spreadsheet, this is an additional way to maintain accuracy and a double checking system for cash businesses.

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    Inventory is another important duty that has to be performed by a bookkeeper. In this area, a bookkeeper has to record the income that has been generated and expenditure that has been made.

    On a periodic basis, generally quarterly or more in a cash business, a bookkeeper needs to check that the balance adjustments are made properly and the income record is maintained. All these are the basic duties that a bookkeeper needs to perform and the ones who fall into a full time bookkeeping job. There are many other jobs that a bookkeeper needs to do, but those are also performed on periodic basis.

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