Your bookkeeper will keep a record of all your daily transactions, the money coming in and the money going out. Rather than being written in a book, the process is now carried out digitally, with many businesses turning to software, like Xero, to be able to manage their numbers in real-time.

While there can be a crossover area between your bookkeeping and your accounts, it is the former that provides the foundation. The entry of data is at the core of what a bookkeeper will do and ensuring that the books balance.

Monthly reports to management can help shape the strategy of the business with illustrations of the company’s performance. Without this information, it would be impossible to track how well or otherwise a business is performing.

Bookkeepers will also provide the link between the company and outside organisations, including banks or potential investors, where reliable information is required before approving a loan or considering a potential investment.

Given the importance of the bookkeeper, it pays to ensure it is done accurately and in a timely manner. Business Engine can provide a complete bookkeeping service to ensure your organisation stays on top of all its finances.

By using Xero, you will be able to have access to your books wherever you are, using the online platform. Every penny that comes in or leaves your business will be accounted for and you will be able to track how well your company is doing.