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John Bellamy
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Joined: 23 Aug 2010
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Location: UK
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 Posted: Fri Oct 15, 2010 3:02 pm Post subject: BOOK KEEPERS |
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I was wondering if anyone had any thoughts on Book Keepers and if it was worth employing one a temp basis ( 3-5 hrs a week )
What are the benefits of using a book keeper compared to just using an accountant.
Thanks
JB
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I4Visual
PA
Joined: 22 Jul 2010
Posts: 32
Location: Laindon, Essex
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| Posted: Mon Oct 18, 2010 10:38 am Post subject: |
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Well speaking from an accountants point of view, I don't really get as involved with 'book keeping' which i would say is just like journal organising and meeting arrangement, accounts are much more focused on the accounts rather then the personals of the company/ manager:)
A book keeper would be really beneficial if you're finding it hard to keep track of appointments and such.
there are cheaper solutions like just keeping a very well organised diary, either online or paper form, online can be better as you can get reminders and such:)
Sorry I can't suggest a site but you should be able to find one in not time^^
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neongray
Temp
Joined: 18 Oct 2010
Posts: 2
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| Posted: Wed Oct 20, 2010 11:18 am Post subject: it depends on how good the book keeper is. |
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| its good to have a bookkeeper in a business if he/she can also audit what he/she's doing. |
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Kay
President
Joined: 07 Jan 2009
Posts: 3079
Location: Mostly SE Asia
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| Posted: Wed Oct 20, 2010 12:12 pm Post subject: |
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The purpose of an audit is to check and verify someone's work. Therefore it would be absolutely pointless in having a book-keeper audit their own work. It's a totally bizarre suggestion.
In my experience:
A book-keeper keeps the financial records in order - all the day-to-day debits and credits. Good book-keepers can take it to the trial balance stage. At which point, it gets passed to the accountant.
The accountant then produces the accounts from there. There are different types of accounts, and accountants may be generalists (usually working in smaller companies or organisations) or specialists.
Accountants design and oversee implementation of financial systems.
Management accounts are produced regularly (often monthly) and are used to assist management in the decision making process.
Financial accounts are historical records required by law.
Some accountants also offer tax services.
It's usually best not to hire an accountant to do book-keeping, because accountancy requires more training and has a higher skill level. Thus accountants are more expensive than book-keepers.
Some accountants hire book-keepers to do the lower level work for them.
A book-keeper does not normally also work as a PA, keeping appointments and such. However, many good VAs these days also offer book-keeping as an additional service.
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jumeira123
Secretary
Joined: 09 Apr 2011
Posts: 6
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| Posted: Mon Apr 11, 2011 8:46 am Post subject: book keepers |
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| You may hire a professional accountant to audit your work periodically and generate the required financial statements. |
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martynh
Vice President
Joined: 20 Feb 2010
Posts: 336
Location: Yorkshire, UK
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| Posted: Mon Apr 11, 2011 1:32 pm Post subject: |
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| Kay wrote: | The purpose of an audit is to check and verify someone's work. Therefore it would be absolutely pointless in having a book-keeper audit their own work. It's a totally bizarre suggestion.
In my experience:
A book-keeper keeps the financial records in order - all the day-to-day debits and credits. Good book-keepers can take it to the trial balance stage. At which point, it gets passed to the accountant.
The accountant then produces the accounts from there. There are different types of accounts, and accountants may be generalists (usually working in smaller companies or organisations) or specialists.
Accountants design and oversee implementation of financial systems.
Management accounts are produced regularly (often monthly) and are used to assist management in the decision making process.
Financial accounts are historical records required by law.
Some accountants also offer tax services.
It's usually best not to hire an accountant to do book-keeping, because accountancy requires more training and has a higher skill level. Thus accountants are more expensive than book-keepers.
Some accountants hire book-keepers to do the lower level work for them.
A book-keeper does not normally also work as a PA, keeping appointments and such. However, many good VAs these days also offer book-keeping as an additional service. |
You've got it spot on Kay
Through the e-FM "pay as you use" financial management service, we suggest that companies select a bit of a bookkeeper for volume transactional work, a bit of a Financial Controller for systems and controls, and a bit of a Financial Director for direction and strategy.
The FC "audits" the bookkeeper and the FD "audits" them both. Then at year end if required the external auditors audit the company.
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