Running an own business is not an easy task. For it, businessmen are required to hire different professionals at various stages of business. But we first need to know the concept of Bookkeeping in Coomera. The financial advisors and bookkeepers are some examples of these professionals. To operate the business properly everyone needs to focus on two departs first account and finance. With the help of qualified accountant, you can easily manage accounting department and track every financial activity easily. From the services of this department, you are able to get that your firm is earning money as profit or facing financial losses. Mainly the entire activities of this particular department are performed by accountants and bookkeepers.
Both professionals are performing different roles. However; the activities of both individuals are related to each other. The main work of accountant is analyzing the financial activities and makes a final report. The bookkeeper performs work by managing all ledgers. From the following points, you can easily get deep information about them.
Duties of bookkeeper –
- The first responsibility of professional is posting or recording all money transaction of the business firm in respective ledger.
- Mention all inflow and outflow of cash or stock transactions for maintaining credit & debit portions.
- Check the situation of stock and produce or create invoices on the basis of outflow of stock.
- The most important one, posting transaction entries in all ledgers properly and maintain the balance sheet of company.
Duties of accountant –
- The first duty of the professional is to track the financial transactions and prepare a detailed statement for books of the company.
- Analyze the activities of company and measure the expenditures.
- Calculate and fill the returns of income tax at the proper time.
When you are hiring a bookkeeper or accountant at that time you should pay attention to source or institution from where he/she takes training.