Bookkeeper Job Description Sample
It goes without saying that you should have a great knowledge of bookkeeping, and where necessary, the essential qualifications. Understanding accounting language and having the skills and education to undertake your role is a huge part of the role. You can gain qualifications from courses and schools all across the country and they will all help in your path to gaining a role as a bookkeeper. Bookkeeping faces a specific challenge similar to switchboard operating, word processing and other fields in which software programs can perform many jobs humans once did. Like most fields, accounting and bookkeeping suffered contraction during The Great Recession.
Bookkeepers typically keep the financial records for an organization. They work in offices and use a variety of office equipment and computer programs. They record financial transactions, produce financial reports and ensure the accuracy of records.
Bookkeeping, accounting, and auditing clerks produce financial records for organizations. They record financial transactions, update statements, and check financial records for accuracy. As organizations continue to computerize their financial records, many bookkeeping, accounting, and auditing clerks need to use specialized accounting software, spreadsheets, and databases.
If you’re the type of person that gets sweet relief from organising files and numbers, then you would be perfect as a bookkeeper. Being able to organise and maintain financial records is essential to the role, and it certainly helps if you enjoy working in this kind of position. If you’re more of an “outdoors” person who hates sitting in front of a PC for extended hours looking at numbers and figures, bookkeeping might not be for you.
That said, landing an accounting job requires, in most cases, more education than becoming a bookkeeper. Many hold advanced degrees, such as MBAs with accounting or finance concentrations, or they have Master of Accountancy degrees. To sit for the Certified Public Accountant, or CPA exam, which is a common goal of many accountants, you must have a minimum of 150 postsecondary education hours. This is a bachelor’s degree plus 30 hours of graduate work; most CPA candidates go ahead and finish their master’s degrees.
Bookkeepers keep records of cash expenditures and receipts for their employer, and report discrepancies or issues. These financial reports show a businesses bottom line and operating expenses, the balance of assets and liabilities as well as the cash flowing in and out of the business.
Without your bookkeeper, you’re in the dark about the profitability of your daily operations. You have observed a significant deterioration in your bookkeeper’s job performance. Customers have complained that their payments aren’t correctly credited to https://www.bookstime.com/ their account. Your tax accountant is clamoring for financial data, and the bank wants a set of current financial statements. Whether your company is large or small, you have employees who can cope with what comes their way and employees who cannot.
Typically, these courses require practice at maintaining financial records both manually and using computer programs. You should also take general business and management courses if you want to achieve higher level positions in your career. These courses will also be helpful if you choose to open your own bookkeeping or auditing firm. In financial accounting, an asset is any resource owned by the business.
Bookkeeping, accounting, and auditing clerks may work longer hours to meet deadlines at the end of the fiscal year, during tax time, or when monthly or yearly accounting audits are performed. They also produce financial statements and other reports for supervisors and managers. Bookkeepers prepare bank deposits by compiling data from cashiers, verifying receipts, and sending cash, checks, or other forms of payment to the bank. Many of these functions require clerks to communicate with clients.
At a basic level, bookkeepers manage transactions brought in through software, like an app. Bank feeds, that link the software with your business bank account, allow you to see each transaction in real-time.
If working in a large company, you may be required to work alongside accountants and other departments within the company that may require your assistance. Being able to communicate with everyone easily and effectively will make your job (and everyone else’s) a lot easier. Whether it be face-to-face communication or phone bookkeeping for small businesses and email, being able to communicate effectively is essential to the role. A chronological record of all transactions is kept in a journal used to track all bookkeeping entries. Journal entries are typically made into a computer from paper documents that contain information about the transaction to be recorded.
If you have daily bookkeeping records, you will find it much easier to make crucial financial decisions. Knowing how much capital you have at your expense helps you to decide on matters like purchasing inventory or hiring more staff. Some can fulfil payroll and other HR functions for small businesses.
With appropriate experience and additional education, some bookkeeping, accounting, and auditing clerks may become accountants or auditors. Some bookkeeping, accounting, and auditing clerks become certified. For those who do not have postsecondary education, certification is a particularly useful way to gain expertise in the field. Employers generally require bookkeeping, accounting, and auditing clerks to have some postsecondary education, particularly coursework in accounting.
Allow your bookkeeper an opportunity to evaluate and choose what will best meet the company needs. If something new is selected, follow through with providing any needed training. Your bookkeeper can usually keep up with all the responsibilities of the job while managing their stress levels.
Bookkeepers, or bookkeeping clerks, work with a company’s accounts, making sure that every transaction, deposit and income is recorded in the company ledger. Bookkeepers use software to track these numbers, sometimes take in cash and checks, and record the transactions. Bookkeepers are often called upon to produce reports to help explain to management where company money is going and make sure that any discrepancies in the financial records are reconciled. A bachelor’s degree will prepare you for up to mid-management level positions in many organizations. The Bachelor’s degree program will require in-depth accounting courses, which may include both manual and computerized accounting techniques.
Here are a few things to keep in mind if you’re thinking about becoming a bookkeeper. You can become a bookkeeper right out of high school if you prove you are good with numbers and have strong attention to detail. In fact, many aspiring accountants work as bookkeepers to get a foot in the door while still in school. Additionally, bookkeepers who excel at their jobs are sometimes promoted to accounting positions, even if they lack the level of education the company typically prefers. The two careers are similar and accountants and bookkeepers often work side by side.
Bookkeeping enables the small business owner to support expenditures made for the business in order to claim all available tax credits and deductions. It also provides detailed, accurate, and timely records that can prove invaluable to management decision-making, or in the event of an audit. Reconciling bank statements on a monthly basis, of crucial importance in the management of cash flow, is another important task for the bookkeeper. Other aspects of bookkeeping include making adjusting entries that modify account balances so that they more accurately reflect the actual situation at the end of an accounting period. Adjusting entries usually involves unrecorded costs and revenues associated with continuous transactions, or costs and revenues that must be apportioned among two or more accounting periods.
This tab can include information on education, training, work experience, licensing and certification, and important qualities that are required or helpful for entering or working in the occupation. Bookkeepers are needed everywhere, but the highest pay for those without a bachelor’s or master’s degree is found in government agencies. Those high-paying government jobs are clustered in Washington, DC. There are also well-paying government and private sector jobs located in every state. CPAs are the highest level of accounting and booking certification you can achieve.
Earning an associate’s degree in book keeping is enough to get an entry level book keeping job and can be transferred into a four year university course. For those looking to develop and assume managerial positions, a Master’s of Business Administration (MBA) incorporates elements of management and leadership skills as well as accounting theory and practice. If you understand math, have a head for figures, and like to keep track of how everyone spends the company dime, you might be ready for a bookkeeping job.
Recording financial transactions is the first part of and the foundation of the accounting process. As a result, asset managers use deterioration modeling to predict the future conditions of assets. Intangible assets lack of physical substance and usually are very hard to evaluate.