Data entry: Recording financial transactions and balancing the books

Categorizing expenses: Sorting transactions so totals and trends can be tracked for taxes and planning

Bank reconciliation: Cross-referencing the books against bank statements and other source documents to confirm accuracy

Accounts receivable: Creating and sending invoices, and following up to get them paid

Accounts payable:  Making sure invoices from suppliers are accurate and paid in a timely manner

Monthly reports: Summarizing the business’s financial position