Bookkeeping & Accounting

Bookkeeping:

• Transaction Recording: Bookkeepers record day-to-day financial transactions including sales, purchases, receipts, and payments.
• Bank Reconciliation: They reconcile bank statements with the company's books to ensure accuracy and identify discrepancies.
• Accounts Payable and Receivable: Managing invoices and payments owed by customers (accounts receivable) and to suppliers (accounts payable).
• Expense Tracking: Monitoring and categorizing expenses for accurate financial reporting and budgeting.
• Payroll Processing: Calculating employee wages, taxes, and benefits, and ensuring timely payment.

Accounting:

• Financial Statement Preparation: Preparing balance sheets and income statements to provide a snapshot of the company's financial health.
• Financial Analysis: Analyzing financial data to provide insights into profitability, liquidity, and solvency.
• Budgeting and Forecasting: Assisting in the development of budgets and financial forecasts to support strategic decision-making.
• Tax Preparation and Compliance: Ensuring compliance with tax laws and regulations, preparing and filing tax returns, and advising on tax optimization strategies.
• Audit Support: Assisting with audits by providing necessary financial documentation and explanations to auditors.

Software Proficiency:

• Proficiency in accounting software such as QuickBooks, Xero, SAP or Oracle.
• Familiarity with spreadsheet software like Microsoft Excel for data analysis and reporting.

Communication and Collaboration:

• Effective communication skills to interact with clients, colleagues, and financial stakeholders.
• Ability to collaborate with other departments such as finance, operations, and management to provide financial insights and support decision-making.

Regulatory Compliance:

• Stay updated with changes in accounting standards, tax laws, and regulations to ensure compliance and mitigate risks for the business.

Analytical Skills:

• Strong analytical skills to interpret financial data, identify trends, and provide actionable recommendations for improving financial performance.

Problem-Solving Abilities:

• Ability to identify and resolve accounting discrepancies and financial issues efficiently.