Be it a big corporate house, start-up, or proprietorship firm the role of an accountant is indispensable in each of these entities. From financial data collection, entry of data, to report generation accountants in Maidstone play varied roles.
The main of an accountant is to ensure that he conducts all accounting practices in accordance with lawful policies and procedures. Managing the financial data of a company is a crucial task. An accountant is largely required to develop, implement, monitor and control all accounting procedures.
Functions Performed By Accountants In Maidstone
In several organizations, accountants perform the role of advisors and financial interpreters, they even act as the liaison between the company and third parties like vendors, stakeholders, and financial institutions. Other functions include-
Assistance to budget preparation
Performing financial calculations
Supervising the work of bookkeepers and assistants
Perform an extensive compilation of financial statements like balance sheet, income and profit and loss statement
In What Capacity Does A Bookkeeper Work?
A Bookkeeper in Kent maintains detailed records of bill payments, payroll particulars, sales, purchases, and accounts receivable details. Like accountants, they are largely required to post transaction details and ensure all transaction meet the legal regulatory provisions. They perform the following roles-
He has to reconcile all entries and balance the ledger with trial balance preparation.
It is his duty to maintain proper historical record maintenance by means of document filing.
He also has to maintain subsidiary accounts by verifying, assigning, and posting all transactions.
He has to prepare the reports by collecting, scrutinising, and briefly describing the account trends and information.
He has to keep a track of the overdue payments and send notices to realize those payments. Besides, that he has to prepare invoices and bills, and keep track of the balancing receipts and incoming funds.
A bookkeeper in Kent also keeps the record of staff payments, issues checks, and maintains a tax holding record. Based on the company he is working for he may also have to develop special coding knowledge to meet his company specific accounting needs.
Bookkeepers and accountants form an integral part of any organizations operational practices. A strong accounting system helps an organization plan their future goals better.