Function of Accounting

1. Bookkeepers Auckland & Tauranga

2. Functions of a bookkeeper • Accounts receivable • Accounts payable • Payroll • Other tasks

3. Accounts receivable • They prepare invoices or statements for customers so that bills can be paid and funds collected. • Keep track of overdue notices and send payment reminders. • Contact customers to collect funds owed. • Prepare bank deposits • Verify and balance receipts • Track and count cash drawers and sales records.

4. Accounts payable • Keep track of debits or funds • Make purchases, pay bills owed to vendors or send payment for other items • They update records to reflect the transactions. • They keep electronic balance sheets to monitor

5. Payroll • They look after the payroll functions of a business. • They calculate employee salaries or hours, determine paycheck amounts, keep tax withholding records and issue paychecks or send information to a contracted payroll company. • They keep records of payments made to employees and use them to reconcile business statements and keep track of business expenses.

6. Other tasks • Bookkeepers have to stay informed inside the business to ensure that all money is accounted for. • They must create or use systems for communicating with employees to track expenses or payments. • In many businesses, bookkeepers are also responsible for making sure that taxes are paid to local, federal and state governments. • They must submit tax documents to the appropriate offices, ensure that employees have proper documentation and identification on file, and calculate estimated taxes when necessary.

7. Xero Software To make your work easy, hassle free most bookkeepers are using the Xero software so that you can access your accounts from ANYWHERE, ANYTIME!!!

8. For more details visit: www.accountconsult.co.nz