The Bookkeeper job description states that they are basically entry level accountants. In reality, the line between a bookkeeper and an accountant is indistinct most of the time. One organization may refer to them as a bookkeeper, while the other may categorize them as an accountant. They may possess the knowledge to carry out several accounting based jobs, but the state policies restrict few activities to certified public accountants. Nevertheless, the bookkeeper’s job is reputable and involves numerous financial responsibilities.
Although the core features in the bookkeeper profession remains quite the same, some functions and tasks of the bookkeeper may differ in each organization based on the specific requirement of the business. However, in general, the bookkeepers mainly handle an organization’s financial records. They can choose to work for a firm or be an independent service provider.
Bookkeepers are hired by a variety of associations which includes non-profit charity groups, educational institutes, churches etc. They deal with financial affairs such as payroll tax filing, payroll, balance sheets, profit and loss reports, accounts billed and accounts receivable. They are usually the initial point of contact for the audits that take place in an organization and are additionally in charge of filing income tax returns.
The core bookkeeper job descriptions are as follows:
In relatively small organizations, a bookkeeper maintains the records and payroll checks. This involves collecting weekly or monthly time-sheet data, checking hours of work and leaves and calculating salary and tax withholding.
Their duties comprise of keeping track of financial statements and collecting outstanding balances, by using accounting software or writing in a ledger book. They also assist and prepare budgets, controls inventory and also perform administrative functions.
A bookkeeper also tracks the sales tax, social security, worker’s reimbursement assurance dues and withholding taxes. They are required to act in accordance with the local and state government reporting requirements.
The entire operational expenses of the firm are also tracked and recorded by them which comprise handling the firm’s lines of credit and credit cards, set up cash box for events etc.
Their duties include drafting checks, bank deposits, cash receipt and reconciliation of the bank statements. They also buy bookkeeping provisions and equipments and supplies for departments. Perform monthly reconciliation of all financial records to ensure their exactitude.
They maintain vital documents for administration such as cash flow details and balance sheets which helps in determining the firm’s financial strength. They also accumulate data for external audits as well as internal annual audits.
Skills required for a bookkeeper’s job:
Bookkeepers are required to be analytical and fact oriented while assessing reports prior to presenting them to the management of the firm as the financial records must be kept error-free. Moreover, basic computer skills coupled with precise accounting knowledge is necessary. Additionally, if they deal with customers or dealers, they must have good communications skills. A bookkeeper is also required to be trustworthy and keep the firm’s financial status confidential.
Qualifications required for a bookkeeper:
Bookkeepers need to undergo two years of formal education. Associate and professional degrees in bookkeeping are offered in numerous institutions. An associate’s degree is normally acquired in two years however; the online courses can accelerate the program. Nevertheless, many employers expect the bookkeepers to possess at least a high school diploma and have knowledge of assignments pertinent to accounting.
Bookkeeping usually entails on-the-job training. Besides, present bookkeeping are computer-based therefore, bookkeeping apprentice takes up courses on QuickBooks, Microsoft Excel and other common accounting program software.
Salary of a bookkeeper:
The salary of a bookkeeper is based on a range of factors such as the type of responsibilities he is expected to carry out, the size of the organization etc. The salaries also differ by state and location. However, the median salary for a bookkeeper job is $38,780. The top 90 percent earns more than $46,020. A new bookkeeper can expect to earn around $15,000-$20,000.
