Book-keeping

A book-keeper is a person that performs one or more of book-keeping duties. The main duty of a book-keeper revolves around "keeping the books" for a company/ business. In small businesses, the book-keeper may perform the entire book-keeping process, or might just enter data to give to the "accountant".

Book-keeping is a long process usually occurring daily, weekly, monthly and annually consisting of entering transactions into the journals, making adjustments, and preparing reports.

Skills required for book-keeping

Reading: strong reading skills are important as book-keepers are required to source documents for financial data
Language: book-keepers are often required to explain book-keeping procedures to auditors. They also interact on a one-to-one basis with co-workers
Math: General background of math is required to calculate and adjust entries on financial statements and to calculate interest.
Learning: book-keepers must have strong reasoning skills and should be able to learn fast
Computer: Most book-keepers work on online systems.  They therefore need an in-depth understanding of how to use a computer

2. Accounting

Accounting reduces the likehood of business failure. It provides information which is necessary for taking business decisions.  Therefore it is critical that entrepreneurs understand the need for collecting and recording the information that will allow them to reach appropriate business decisions

Accounting skills

Cash flow projection: An accountant should be able to see whether the business will generate any profit
Interpretation of financial statements: When presented with a bank statement, an accountant is required to understand all the transactions that went through the business account and interpret these in order to give feedback if necessary
Break-even analysis 
Inventory accounting
Payroll functions
Accounting software (e.g Pastel/ Spread sheet)

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