in this video we're going to take a look at what exactly bookkeeping is what bookkeepers do on a day-to-day basis and why bookkeeping is more important to the success of a business than you might think so if you're thinking of becoming a bookkeeper or you're looking to hire one watch this video to the end to find out all the important information you need to know bookkeeping is the practice of recording processing summarizing and Reporting Financial transactions and bookkeepers are the people who make this happen while these practices may not seem particularly interesting they are actually extremely important to the success of a business you see business owners managers and other decision makers cannot make good decisions without complete accurate and up-to-date information on how well or how badly their business is performing just think about having to decide whether you can hire more staff Splash money on a marketing campaign or have a flashy work Christmas party if you don't know how much money you had in the kitty to spend on these things because of this timely and accurate bookkeeping is one of the foundations of a successful business and that's why bookkeepers are extremely important now let's take a look at some of the essential day-to-day tasks bookkeepers do and they include recording such as entering purchase orders or supplier bills into a business's accounting system or entering timesheets into a payroll system processing such as paying Supply bills paying stuff via payroll or reconciling Bank transactions summarizing such as preparing payroll reports that contain a summarized version of the full information and Reporting such as sending the summarized payroll report to management to help them make good strategic decisions these bookkeeping tasks and more are vital to the success of a business depending on its size a business may need anywhere from one bookkeeper who performs all the bookkeeping tasks to hundreds of bookkeepers each of whom will have a specific role to perform for example a freelance writer working from home would most likely do their own bookkeeping a small business such as a beauty salon might also do their own accounts or they might hire a part-time bookkeeper to do it for them on the other hand a massive business such as Microsoft would employ hundreds of bookkeepers each with a specific role some examples would be payroll officers who would prepare and process the payroll accounts payable clerks who would enter and pay Supply bills and bank reconciliation clerks who would reconcile bank account transactions so that's it for this video and as you can see the role of a bookkeeper is a very important one don't forget to subscribe to this channel to see many more videos on bookkeeping accounting and small business finance