How to Use an Accountant and Bookkeeper Most Effectively in Your Business

Accounting and Bookkeeping are the major time consuming process of any business. It becomes difficult to manage the accounting transactions in addition to the business activities. Good Accounting practices have to be followed to keep track of the company’s development and to plan for the future goals. So it is essential to hire an accountant and bookkeeper to run the business effectively.

An Accountant is the person who has the ability and experience to maintain financial records for an individual or business. The major functions of an accountant are listed as follows.

1.Keeping track of all the accounting transactions of the business.
2.Preparation of financial statements and reports.
3.Auditing all the accounts and records of the business.
4.Keeping track of the tax returns and monitoring the tax interpretations.
5.Act as a budget maker.

Bookkeeping is an aspect of accounting. Bookkeepers manage a number of record keeping works. The major functions are listed as follows.

1.Set up a record keeping system and manage all the accounting records.
2.Create weekly, monthly or yearly reports as assigned by the organization.
3.Maintain ledger accounts, cash books etc.
4.Organize selling, purchasing, orders, invoices, time sheets and other cost report documents.

In order to use an accountant and bookkeeper most effectively in your business, the main factor is to providing them with the basic structural knowledge about your business. Keep in touch with the accounting transactions by conducting regular meetings with the accountant and the bookkeeper. Discuss about the financial plans for the next coming month. While hiring any firm, consult with them and discuss your needs before selecting. Instead of spending hours by filing company finances, select any online accounting softwares like NUMIA to make their works more easier and effective.