Many business owners, especially small business owners, wear many hats in the day-to-day functions of their business. Rarely is bookkeeping a passion or a skill set they possess. Hiring the right bookkeeper can make a difference in the financial management of the company and can simplify life at tax time.
What does a bookkeeper do?
Bookkeeping is defined as recording a company’s financial transactions. These transactions include paying bills, recording payments, managing cash flow, reconciling credit cards and bank statements and accounts, and distributing financial statements.
A bookkeeper performs the daily, weekly, and monthly financial transactions to account for the business’ activity. In most cases, these include:
- Balance Sheet
- Profit and Loss or Income Statement
- Accounts receivable and accounts payable reports
(It sounds like a lot for a business owner to add to their responsibilities, doesn’t it?)
What are the benefits of outsourcing your bookkeeping?
Businesses today are challenged in ways they have never been challenged before. Remote employees and unforeseen reductions in staffing create time constraints on a business owner. You are not a bookkeeper or a CFO. You started your business because you are passionate and excited to offer a product or service to your community. Now you are faced with running the business and making financial decisions. Hiring an outsourced bookkeeper or CFO delivers knowledge, security, and control of your finances and bookkeeping.
- Reduces Fraud. The number one reason you should outsource your bookkeeping is to avoid the possibility of an internal bookkeeper committing fraud. At Capital CFO+, we implement a strict checks and balances system of bookkeepers, managers, CFOs, and directors for oversight on every account we service.
- Implements financial controls. An important bookkeeping task is management, and processing how bills are approved and paid. Using an outsourced bookkeeper can ensure proper practices are in place, implement basic controls, and ensure the company’s financials are accurate and performed on time.
- Professional bookkeeping and accounting help is invaluable. Hiring an outsourced bookkeeper ensures an experienced and qualified professional will work alongside you every month and through your tax preparation needs. You will be prepared to meet with your CPA.
Capital CFO+ believes in the strength and success of hiring the right bookkeeper.
Not just anyone can join our team. Our clients entrust their financial tasks to us as we perform their bookkeeping and CFO duties. A good fit for a client is not 100% based on a bookkeeper’s skill and ability. Success comes from understanding a client’s business, concerns, and stresses and placing ourselves within their organization to support them.
We are looking for new members of our team who subscribe to this philosophy. The below positions are open and accepting resumes:
- Bookkeeping Accounts Manager
- CFO Project Lead
- Executive and Marketing Assistant
Please visit the Join Our Team page for more details.
About Capital CFO+
Capital CFO+ LLC is based in Saratoga Springs, New York, providing bookkeeping, accounting, and CFO services. Capital CFO+ helps small firms access the same economies of scale, efficiency, and expertise that large companies enjoy. Visit Pearl, our branch manager at capitalcfollc.com or LinkedIn for more information.