There is a growing trend of outsourcing non core business services such as bookkeeping and other administration functions such as payroll and computer support. Outsourced bookkeeping can lead to savings of up to 40% compared to hiring an onsite bookkeeper.
Accounts payable is an important function for the bookkeeper. All businesses need to manage their cash flow and the timing of the payment of bills has a significant effect on the finances of a small business. Forecasting the cash flow of a business is an essential task for a bookkeeper.