Bookkeeping is the process of recording, organizing, and maintaining accurate and up-to-date financial transactions of a business. Key tasks include tracking income and expenses, managing accounts payable and receivable, processing payroll, and reconciling bank accounts.

There are many good reasons to hire a professional bookkeeper. Here are three of them:

1. They save you a ton of time. 
2. They help you understand your business finances.
3. They can take a lot of stress out of managing things like cash flow.

A bookkeeper can also offer support to business owners who feel like they’re working alone. Moreover, accurate bookkeeping helps you track your business's financial health, ensures compliance with tax laws, and provides critical data for making informed business decisions and planning for future growth.

Ideally, records should be updated daily or weekly to ensure accuracy, prevent errors, and manage cash flow effectively.

Bookkeepers and Accountants are both essential parts of maintaining a company’s financial health and compliance. Bookkeepers focus more on managing day-to-day financial transactions while Accountants provide expert insight and consultations to business owners on financial strategies and patterns. Bookkeepers prepare data and reports while Accountants use the information they collect to assess a company’s financial health and make projections about future income.

For many small businesses, a bookkeeper can handle the regular financial maintenance. As the business grows or requires more complex analysis and tax planning, an accountant becomes necessary. The bookkeeper provides the foundation for the accountant's work.