What Does A Bookkeeper Do

What Does A Bookkeeper Do

What Does A Bookkeeper Do:

What does a bookkeeper do? A bookkeeper is responsible for processing the paperwork for a company’s business transactions. Ultimately the transactions will be recorded in accounts within the company’s general ledger. Today this often involves the use of cost effective software such as QuickBooks from Intuit.  (from Intuit- http://quickbooks.intuit.ca/)

Bookkeepers are expected to be accurate, efficient, and knowledgeable about debits and credits, the chart of accounts, accounts payable procedures, sales and accounts receivable, payroll, and more. Each bookkeeper’s specific responsibilities will vary by type and size of the business.

What Does A Bookkeeper Do: –  Here are a few items:

Accounting system setup:
  • Accounting system setup for a new or existing business
  • Installation of software, design and set up chart of accounts and entire accounting package including payroll, accounts receivable, inventory, etc.
  • Converting to a new accounting system
Payroll Services:
  • Weekly, bi-weekly, semi-monthly, monthly payroll preparation
  • Preparation of pay stubs
  • Preparation of pay cheques
  • Calculation of overtime and bonuses
  • Record of employment for terminated employees
  • Payroll source deductions and application remittance to government
  • Annual T4’s, T4A’s preparation along with annual reconciliations
  • T5018 Statement of Contract Payments
Accounts Payable:
  • Record and post bills
  • Schedule bills for payment
  • Computerized and non-computerized cheque preparation
  • Monthly aging reports preparation
Government reporting:
  • HST (Harmonized sales tax)
  • RST (Retail sales tax – Provincial)
  • Payroll source deductions and application remittance to government
  • W.S.I.B (Workers Safety Insurance Board)
  • Annual reconciliations
  • Preparation and support during government audits
Bank & Credit Card reconciliations:
  • Ensures that any bank errors are caught in time
  • Help manage the cash flow of the business
Yearly summary of accounts:
  • Year-end adjusting journal entries
  • Year-end working papers preparation and liaison with company accountant
  • Preparation of reports for specialized businesses
  • Audit preparation

Thanks,

ENVOLTA Income Tax & Bookkeeping Services Inc.

Phone: 613-567-7088/Email: contact@envolta.ca

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