What is a Bookkeeper?

A bookkeeper is essential for keeping financial records accurate, helping businesses make smart financial choices. They support accounting processes and help maintain the financial health of an organisation. Bookkeepers manage and organise a company’s financial records by tracking transactions, recording expenses and income, and reconciling bank statements. . Bookkeepers input data into accounting software and create financial statements like balance sheets and income statements to show how the company is doing. They follow tax laws, manage payroll, and help with money owed and money to be received. They also categorise transactions to provide a clear view of the business's financial situation

You don't need formal training to manage your own books. With the right tools, anyone can track income and expenses. You can learn basic accounting, like debits and credits, through online guides or courses. User-friendly accounting software can help by organising your financial data and offering useful insights. Decide to hire a bookkeeper based on how complicated your finances are and how much time you have to manage them. Here are some common scenarios that suggest you would benefit from a bookkeeper:

Lack of Time: If you find yourself spending too much time on accounting tasks instead of focusing on core business activities, it might be time to bring in a bookkeeper.

Complex Financial Transactions: If your business involves complex financial transactions, such as multiple income streams or foreign transactions, a bookkeeper can ensure accuracy and compliance with financial regulations.

Tax Preparation: If you struggle to prepare for tax season or find yourself overwhelmed by tax documentation, a bookkeeper can keep your financial records organized and ready for filing.

Budgeting and Forecasting Needs: If you need help managing cash flow, budgeting, or financial forecasting, a bookkeeper can provide valuable insights and prepare reports.

Assessing these factors can help you determine whether it's time to hire a bookkeeper to ensure your financial health and support your business growth.

By dedicating some time to familiarise yourself with these tools, you can maintain accurate financial records, ensuring a clear picture of your financial health without the need for professional bookkeeping services.

Working with Ako Cash Flow, you will not find traditional bookkeepers but rather a team dedicated to empowering you to become your own bookkeeper. Our approach focuses on providing you with the tools and knowledge necessary to manage your finances confidently and effectively. Through our resources and support, you will learn how to track your income and expenses, understand cash flow management, and make informed financial decisions that align with your goals. We believe that by equipping you with these essential skills, you can take control of your financial journey and foster long-term success in your personal or business finances.