Wednesday, January 27, 2021

Bookkeeping requirements for Tax Compliance and Other Business Needs

 

Do I need a Bookkeeper? What does a Bookkeeper do?



Bookkeepers are responsible for recording and maintaining a business’ financial transactions, such as purchases, expenses, sales revenue, deposits, credit card transactions, invoices, and payments. The bookkeeper will record financial data into general ledgers, which are used to produce the balance sheet and income statement. The bookkeeper is generally responsible for overseeing the first six steps of the Accounting Cycle, while the last two are typically taken care of by an Certified Public Accountant (CPA).

Bookkeepers lay the groundwork for accountants to analyze and prepare the financial statements. Bookkeepers use software, such as Quickbooks or Sage,  to assist with the recording of transactions and generally use built-in data processing tools to help in the preparation of the general ledger.

If you require assistance with your bookkeeping, our office can supplement your existing team.  For example, your team may want to control the bank deposits, payroll, and bill payment.  We can handle what accounting items are left.  Call today for a free consultation. 718-227-6035 ext. 301, info@gosucpa.com, or visit us at Staten Island CPA

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