Being in a medical profession, doctors have a very limited time, which makes it hard for them to focus on other things than their work. And, as a result, they fail to realise the importance of maintaining their financial matters.

When you have a bookkeeper, you do not have to worry about your financial affairs because they have knowledge on how to maintain your financial records on a daily basis.

Here is a list of things that your bookkeeper will take care of you on your behalf.

Documentation

Bookkeepers know the importance of the financial transactions. This is why they always maintain the paper and electronic records of all the transactions which will help you know about your financial position. Moreover, you also need to save receipts of even the smallest amounts and provide them to your bookkeeper. This is because such receipts will help you in the time of claiming deductions.

Track expenses

Bookkeepers track reimbursable expenses to ensure a proper bookkeeping. For instance, when you make small payments through your credit cards for the official purposes, such expenses need to be tracked.

Use a computerized system

Bookkeepers are familiar with QuickBooks, a computerized system which they use to record your income and expenses monthly for both personal and business accounts. On the other hand, they also keep a back-up of all the information to ensure your records safety in case if something is to happen.

Reconciliation with the bank statement

To avoid any errors or omissions in your accounts, your bookkeeper performs a monthly reconciliation with the bank statement each month.

A skilled bookkeeper can do this job much better than you and no one is in better position to update you about your financial operations regularly than the bookkeeper themselves. So, when it comes to understanding how your finance is doing, you will not be totally out of the loop.

If you want an expert to help you with your bookkeeping, you can get in touch with our medical accountants at 020 7060 9556.