If you are self-employed or thinking about starting a business, you may be wondering whether you would benefit from hiring a bookkeeper. A bookkeeper manages your accounts, payments and finances, making sure everything is done on time and recorded correctly. As every business has finances and accounts, every business would actually benefit from hiring a bookkeeper, but here are some types of companies that absolutely need to hire a bookkeeper. If after reading this, you decide you want to hire a bookkeeper and are looking for Swindon Bookkeepers, I recommend Swindon bookkeepers Chippendale and Clark. They have a lot of experience and can help your business run smoothly.
- The first type of company/organisation that always has bookkeeping staff are universities and colleges. Bookkeepers working in these educational settings are responsible for handling scholarship payments, tuition fees, financial aid, earnings for the staff, grants and funding as well as relevant payments to visiting professors, and for the costs of services or resources used. Their job is vital to the running of universities so that students get the scholarships and tuition loans they need in order to actually study. There are thousands of people in some universities, so there will likely be more than one bookkeeper, and at least one for each department. Schools will likely have a bookkeeper as well to keep a record of any finances and payments for bills and teachers. This is so that the head teacher doesn’t have to do this themselves.
- The next type of company to use bookkeeping professionals is hotels. Accommodation such as hotels and hostels will have many jobs for a bookkeeper to do everyday such keeping statements up-to-date, keeping reports, and recording payments. This is obviously very important to make sure that the hotel runs smoothly, and that employees are paid, as well as checking that lodgers have made the payments they have agreed to.
- Retail shops use bookkeepers in order to record financial transactions, keep everything legal, make payments on time and keep things up-to-date. Depending on the size of the shop, how many other shops there are, they will likely have multiple bookkeepers to look after various accounts.
- As mentioned in the introduction, every business can benefit from using a bookkeeper. A small company can use one so that the growth of the business and other aspects of running a business can be focused on. It is vital to keep records of payments and transactions mistake-free. There has been an increase in tax investigations in the UK over the last few years due to a soaring number of people starting new businesses. The last thing a start-up business needs is to be fined for not paying their taxes on time, or missing records, so a bookkeeper can prevent this from happening. Make sure to hire a bookkeeper who is aware of the current laws, and has lots of experience as well as good time-management skills. They are a hugely important part of your business.