Bookkeepers give advice on maintenance of records on transactions. It is about documenting income and expenditure and a representation of the financial position of a business.A bookkeeping business would normally have a number of CPAs who will deliver on the job.
Clients want to maintain proper records but may not have the skill, knowhow or time.This therefore creates market for the bookkeeper. Clients are obtained by networking with business owners and being active in local organisations. Volunteer services can also be offered in places likely to generate a number of business contacts. Most businesses prefer to outsource booking because it takes time and these services may also be necessitated by the growth of the client business.
Bookkeeping businesses charge a fee for their work. A bookkeeping business charges the client based on their rates, the nature of the work that needs to be done, the resource requirement for the job and how much the client is willing to pay. Negotiations are made around these to determine a fair price.
It is important for a bookkeeper to go with the market averages when it comes to costing for bookkeeping work by comparing what firms in an area charge. The type of client being pursued can also help in deciding the fee. Nevertheless, clients prefer paying a fixed sum for the services. Bookkeeping business may charge per hour ranging from about $15 to $ 40. The rate or fee is however dependent on contractual obligation.
Nature of work
The common responsibilities of a bookkeeper are:
Documentation of a transaction necessarily to have a record of the money
Preparation of financial statements
Managing overdue accounts
Management of the payroll
Thanks to Xero Bookkeeper Botany for help.
Bookkeepers check reports to see that they are correct and assist in the preparation of financial statements. This work requires accuracy and careful consideration.
The attractiveness to clients is affected by being able to offer a range of services and the level of qualification of the staff. Certificates need to be done by the staff and they need to be part of professional bodies. Skill in use of bookkeeping system is also essential.