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Bookkeeper Duties You Can Do Yourself with Accounting Software

By September 19, 2019No Comments

We all know by now that accurate, up-to-date bookkeeping is the backbone of any successful small business. No matter the type of business structure, businesses have one single thing in common: good bookkeeping practices is important for the sustainable growth of any business. Of course, that’s at the macro level. At the micro-level, there are several bookkeeper duties that manufacture the “behind-the-scenes” success of a business (with the handy help of accounting software). 

The Bookkeeper’s Role

It’s common to get the role of a bookkeeper and an accountant confused with one another. Bookkeeping is a component of accounting that deals with the collection and organization of financial documents. Bookkeeper duties involve gathering, organizing, and filing every piece of data that makes up your business finances. Documents can include but are not limited to, invoices, receipts, payroll records, bank and credit card statements, bill statements, and tax forms and returns. Accounting, on the other hand, involves interpreting and communicating financial transactions and is much more subjective in nature.

Read next: Should You Be Your Own Bookkeeper or Hire One?

What bookkeeper duties can I take over myself?

If you’re thinking to yourself, “I’m organized, don’t lose things easily, and have some leisure time that I can allocate to bookkeeping, then this section is for you! Proper bookkeeping is not only a quintessential way to understand your business, but it provides you (and your accountant) critical information regarding where it’s at and where it’s headed.

The following is a summary of bookkeeper duties that you can do yourself, with the help of accounting software.

Financial Data Entry & Tracking

A large part of bookkeeping is organizing and filing financial data. That’s why accuracy and accessibility are critical. Luckily, accounting software such as Kashoo allows for easy tracking of expenses. Once a business purchase has been made, you can hop into Kashoo’s dashboard on your laptop (if you’re in the comfort of your home) or on your smartphone (if you’re out and about). 

Simply go to the ‘Enter Expense’ tab under ‘Income and Expenses’ in the ‘Actions’ column to the left. From there, you can include information such as the supplier, where you paid from (i.e. credit card payable, cash, bank account), description, quantity, and price. 

To finish things off, you can choose the expense category, which can improve your overall expense management. For example, if you recently purchased a brand new laptop for your photography business, make sure to select Office Expense!

Invoice Like a Pro!

Although it’s an unwritten rule, most customers appreciate a simple-to-read, good looking, and sometimes even customized, invoice. Spelling errors, incorrect dollar amounts, and plain and generic formatting can easily shift your business from professional to sloppy.

Kashoo’s accounting software can help relieve bookkeeper duties such as invoicing right off the bat. Once you add a new invoice, you have the option of customizing itfrom multiple invoice design templatesstraight from your workspace. From there, you can also add your own logo and branding to it. We all know by now that consumers are visual creatures. What better way to make them recognize you and your brand than with your logo? Plus, it can help prompt payment. Once you’ve finalized your invoice, you don’t need the extra step of signing in to your email account—you can email the invoice directly from within Kashoo’s dashboard.

Read Next: Easy Invoicing Strategies (and Accounting Tools) to Get Paid Quicker and Easier

Learn From Your Reports—and Make Better, Smarter Business Decisions

It’s important that bookkeeper duties are done right to help you make better, smarter business decisions. By moving bookkeeper duties to the cloud, you get the assistance of automation. For instance, once you input data into Kashoo’s software, you can rest well knowing that each invoice and receipt is carefully stored and itemized for you. 

Kashoo can then take all this key information and produce standard financial reports, such as your income statement, balance sheet, general ledger, trial balance, and sales tax summary. Export any of these to PDF, Excel, Google and other formats with just one click. This way, you can easily pull together critical reports to make smarter business decisions, as well as to prepare for your next tax return.