Why Every Business Needs To Have a Bookkeeper

WHY EVERY BUSINESS NEEDS TO HAVE A BOOKKEEPER

Basically, a bookkeeper will be in charge of keeping track of where the money goes in a business, and as well as setting up systems to categorized how it was spent or invested during the course of business.

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This is important because if there was no system of tracking and handling of money, there would be poor decision making occurring which would hurt the business. The categories are arranged in areas of assets, or those items that are owned by the business and liabilities, or those items that are owed by the business.



There is also an account of the flow of money, called income, or money that comes into the business from sales and expenses, or money that is spent in the process of doing business.



The bookkeeper handles the daily tasks of recording the receipts at the end of the business day and accounting for all of the money spent in order to acquire those sales, and keeps everything organized and viewable so that an up-to-date accounting of the business can be view on paper at any time.



Of course, in today's computerized age, this is all handles by computer which of course allows for much more rapid computation and totaling of results than was allowed in the years before computerization.



A bookkeeper is necessary to handle all of this detail so the owner of the business can carry on with the normal day-to-day operations of the business. The bookkeeper is able to report at any time to the owner, whether or not the business is making a profit, which helps the owner to make business decisions in that regard.



Taxes are another important factor to keep in mind and such items as sales taxes, payroll taxes, and federal and state income tax records must be kept track of in order to properly pay the various taxes when they come due.

