Financial Record Keeping and Reporting
Recording transactions: Log daily sales, purchases, payments, and receipts accurately in accounting systems.
Reconciliation: Match bank statements and ledgers to fix errors or missing entries.
Financial statements: Create balance sheets, income statements, and cash flow statements.
Budgeting and Forecasting
Budget creation: Work with managers to build operational and project budgets.
Financial forecasting: Analyze past data to predict future earnings and cash needs.
Cost control: Spot areas where the company can spend less and save money.
Tax and Compliance
Tax preparation: Compute taxes and file returns on time.
Regulatory adherence: Follow rules like GAAP (Generally Accepted Accounting Principles) or IFRS (International Financial Reporting Standards).
Auditing: Help internal or external auditors review company books.
Accounts Payable and Receivable
Managing invoices: Send bills to clients and track incoming payments.
Paying suppliers: Verify and pay vendor bills on schedule.
Payroll processing: Calculate wages, deductions, and tax withholdings for employees.