A bookkeeper for a retail business provides a range of essential services. They record daily transactions, ensuring accuracy in sales, returns, and expenses. They manage accounts payable, ensuring timely payments to suppliers, and handle accounts receivable, tracking customer payments. Bookkeepers maintain accurate inventory records, crucial for understanding stock levels and reorder points.
They also reconcile bank statements, ensuring that recorded transactions match the bank’s records. Monthly financial statements, like profit and loss accounts, are prepared to provide a picture of the business’s financial health. In essence, a bookkeeper provides the foundational financial clarity that a retail business needs to operate efficiently and grow sustainably.