What does a bookkeeper do?

June 26, 2015

In summary, this is what the bookkeeper does:

Step 1 – Invoices

  • Raise the sales invoices
  • Record the sales invoices in the accounts (both the sale and the debt owed FROM the customer)
  • Give the purchase invoice / expense receipt a reference number
  • Record the purchase invoices in the accounts (both the expenditure and the debt owed TO the supplier)

Step 2 – Payments and receipts

  • Record the customer receipt (both the bank receipt and the clearing of the customer debt)
  • Record the suppler payment (both the bank payment and the payment if the supplier debt)

Step 3 – Reconcile the bank to the accounts

  • Go through all the bank receipts and bank payments in the account and tick this off against the bank account (this is called the bank reconciliation)

Step 4 – Review list of customers and suppliers

  • Go through the list of customers who owe money to ensure they are correct
  • Go through the list of suppliers who you owe money to ensure they are correct

Step 5 – Review your profit and loss account and balance sheet for any errors

Step 6 – (If VAT registered) complete the VAT returns

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