So you’ve started your business and you’re wondering what you can expect from your bookkeeper? And what exactly is this Controller or CFO positions you keep hearing about? Today, we’re diving into the fascinating world of finance roles, and specifically looking at the Bookkeeper, the Financial Controller, and the CFO. If you’ve ever wondered what sets these three apart, then you have come to the right place. Grab a cup of coffee, get comfortable, and let’s unravel the distinctions together!
Meet the Bookkeeper –
First up, let’s talk about the Bookkeeper. Think of the Bookkeeper as the record-keeper of the financial world. Their primary job is to maintain accurate records of all financial transactions. Here’s a closer look at their main duties:
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- Recording Transactions: Bookkeepers handle the day-to-day recording of financial transactions, including purchases, sales, receipts, and payments. They ensure every penny is accounted for.
- Managing Accounts: Bookkeepers maintain and manage the general ledger, which is a complete record of all financial transactions over the life of a company.
- Reconciliation: Bookkeepers regularly reconcile accounts to ensure the accuracy of financial records. This means they compare the company’s financial records against bank statements to ensure everything matches up.
- Payroll Processing: Many bookkeepers handle payroll, making sure employees are paid accurately and on time, and all payroll taxes are correctly calculated and filed.
In essence, a Record keeper or Bookkeeper’s role is all about precision and organization. They lay the groundwork for accurate financial reporting by maintaining clean and up-to-date records.
Now that their role makes a bit more sense – to learn more about the Financial Controller – head to Part 2 and to learn all about the role of a CFO head on over to Part 3.
If you would like to learn more about what top look for in a bookkeeper- you can find that here.
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