Commonly asked questions about bookkeeping

bookkeeping courses

The bookkeeping industry is an exciting and popular one. It’s also proven to be quite profitable as well. The demand for bookkeepers is one of the many reasons why so many people choose to take bookkeeping courses.

Here are a few frequently asked questions about a profession that dates back more than 7000 years.

A bookkeeper’s role is to maintain their clients’ general ledgers on an on-going basis, making a list of incomes and expenses. Day-to-day responsibilities include:

  • Compiling data
  • Categorising expenses
  • Reviewing the general ledger for accuracy
  • Reconciling bank statements against the general ledger
  • Generating financial statements

An accountant on the other hand is responsible for using the up-to-date general ledger supplied by the bookkeeper to provide advisory services like:

  • Analysis of financial data
  • Preparing income tax returns
  • Giving sound tax advice

As soon as a business is started, it’s advised that they hire a bookkeeper. That way, they can avoid costly pitfalls and finance related headaches. A bookkeeper will help you keep track of your business expenditure, making it easier for your accountant to do all of your taxes more accurately.

Although it’s a fairly old school industry, bookkeeping is very much up to date with the 21st century. It’s now being done online. This is a great way to ensure that it is never redundant and always in touch with technology. If anything, computerised bookkeeping has actually made way for a new wave of tech-savvy bookkeepers.

Want to become a bookkeeper?

If you’ve got big dreams to become a bookkeeper, you need a qualification that will help get you there. A National Certificate in Bookkeeping from The IIE’s Business School will help open up the doors of opportunity. To find out more about it, just click here.

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