If you have landed on this blog post and asking yourself, do I need a bookkeeper?, the answer is that every business requires at least some form of basic bookkeeping – but outsourced bookkeeping services do not limit themselves to the large companies with multiple employees.
All bookkeepers offer small business bookkeeping solutions for small to medium businesses, and they are the companies that need them the most to grow exponentially over the years.
Vary by Industry
Whist all businesses large and small use bookkeeping services in Manchester for basic financial record-keeping, smaller businesses benefit greater by allowing the owner to concentrate on more meaningful tasks to increase business.
Larger businesses tend to have very complex bookkeeping and accounting procedures and may require several dozen bookkeepers to handle all the various aspects, but smaller companies can have one bookkeeper handle the majority of their needs to get a more accurate financial stance and forecast for the future – something every small business needs to make smarter decisions moving ahead.
How Does it Differ From Accounting
Bookkeeping is the process of recording the financial data of a business in a specified manner, basically making it clerical.
Where accounting comes in is usually where your bookkeeping ends. Your accountant will prepare and interpret your tax reports, financial statements and other reports, which will be aided by the work that your bookkeeper has done to give more accurate and detailed reports of your company financials.
Some accountants may offer bookkeeping services as part of their service, but they tend to charge a lot more as it is something that is not the main focus of the business. Bookkeepers for small businesses can perform tasks like preparing taxes and reports that accountants usually perform also. They work as well apart as they do together, it all comes down to whatever is more cost-effective on your business to go with.
Under the Hat of a Bookkeeper
Basic roles of a bookkeeper for smaller businesses include maintaining accounting records from expenditures to accounts receivable and payable, calculating profits and losses and producing financial statements over various reporting periods, from receiving receipts to calculating payroll.
Most bookkeepers bring specialised accounting software, spreadsheets, databases and so forth to benefit your business – as well as all the up-to-date information on this area of business to help support your business growth.
Still asking yourself, do I need a bookkeeper? Contact the team at Pebbles Bookkeeping and HR today to discuss your business needs.