How to Avoid Dead Bookkeeper Syndrome?

Dead Bookkeeper Syndrome is a term I have instituted to depict the circumstance of an organization’s bookkeeper all of a sudden vanishing or kicking the bucket. The issue is, he knows nothing about QuickBooks. As their Bookkeepers Melbourne, I just went to their office quarterly to survey the books and close the quarter. I’m not by any means acquainted with the everyday methodology for their books, yet I know more than the spouse!

Here are a few things to consider evaluating how well your business, or your customer’s businesses, would charge if the bookkeeper was all of a sudden inaccessible, either because of ailment, demise, or different reasons:

Passwords

Is there an ace passwords list, and does somebody adjacent to the bookkeeper know how to get to it? This rundown must incorporate User IDs, Passwords, and Security Question answers for the books, internet banking (checking, investment funds, Visas, credits), financial benefit, significant sellers, and outsider applications, for example, Bill.com, and so on. The length of this rundown, once you take a seat to make it, might amaze you.… Read the rest

Full Charge Bookkeeper Job Description

 A full-time charge bookkeeper who works in a small business will complete jobs that are more complex than that of regular bookkeepers. They will carry more responsibility, keeping careful track of information and making sure that there are no errors. A full charge bookkeeper will be in charge of all of the accounting, preparation of financial statements, and other information. You will not see this unless you are dealing with or have a midsized company who don’t have an accountant or a controller.

Education & Experience

The minimum education requirement to be a full charge bookkeeper shaving a high school diploma. There will have to be educated after that as well. An associate or a bachelors degree in either business or another relevant field is necessary. Usually, you will need a certified bookkeeper designation which is provided to you by the American Institute of professional bookkeepers. Many businesses prefer that their full charge bookkeepers have a mix of education and experience. It is not an entry-level job, so you can’t just hop right into one.

Bookkeeping

A full-time charge bookkeeper … Read the rest

Different Types and Methods of Bookkeeping Systems

Bookkeeping is the recording of financial transactions and which is part of the process of accounting in business. There are several standard systems of bookkeeping which include,

  1. the single-entry bookkeeping system and the
  2. double-entry bookkeeping system,

While they may be referred as real bookkeeping to any process that involves the recording of financial transactions.

Therefore, bookkeeping is usually performed by a bookkeeper- who is a person who records the day-to-day financial transactions of a business. Bookkeeper is usually responsible for writing the daybooks which contain records of purchases, sales, receipts, and payments and he or she is responsible for ensuring that all transactions whether it is cash transaction or credit transaction are recorded in the correct daybook, supplier’s ledger, customer ledger, and general ledger. The bookkeeper also brings the books to the trial balance stage where an accountant may prepare the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.

There are different types of bookkeeping systems that range from maintaining records, auditing to preparing income tax returns such as the following;

  1. Financial accounting:

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