Bookkeepers are a vital part of any business because a business can’t determine if they’re profitable without the help of bookkeepers. Here is an overview of bookkeepers, including what training is required, bookkeeping job duties and career outlook.
Training Required
Becoming a bookkeeper requires training as well as good computer and math skills. The path towards becoming a bookkeeper may be on-the-job training or obtaining an education. Some employers hire applicants with high school diplomas and train them on the job. This type of training generally takes about six months. The individual must learn about the company’s financial system and be proficient in computer software.
Many employers prefer to hire applicants with some postsecondary education, particularly accounting courses. Training programs can be found at community colleges, vocational schools and even through distance learning. Although it’s not required, some bookkeepers choose to obtain certification to obtain and show expertise in their work.
The Certified Public Bookkeeper (CPB) credential is offered through the National Association of Certified Bookkeepers. The candidate must pass a four-part Uniform Bookkeeper Certification exam to earn this credential. The American Institute of Professional Bookkeepers offers the Certified Bookkeeper (CB) credential to applicants with at least two years of bookkeeping experience.
Ranking: Top 10 Online Bachelor’s Degree in Accounting Programs
Job Duties
Bookkeepers keep track of an organization’s files and records. They often perform a variety of tasks throughout the office. The size of their role often depends on if the company also utilizes office and auditing clerks. Bookkeepers often work alongside office secretaries and auditing clerks. Bookkeepers produce financial records, update statements and analyze financial records to ensure their accuracy. They’re often required to be proficient in the use of databases, spreadsheets and bookkeeping software.
The records that bookkeepers most commonly work with include profit and loss, accounts payable, accounts receivable, receipts and expenditures. Despite using software for many of their duties, bookkeepers are expected to be good with numbers and math. Here are a few of the many duties performed by bookkeepers.
• Create reports like income statements, balance sheets and totals by account.
• Post financial transactions into the computer system.
• Receive and document checks, cash, and vouchers.
• Check for accuracy in postings, reports, and figures.
• Reconcile any differences.
• May handle purchasing, billing, and payroll
• Maintain the organization’s general ledger.
• Record debits and credits.
• Prepare bank deposits.
Career Outlook
Employment of bookkeepers is at a relatively steady pace without much job growth. Technological advances such as virtual secretaries and cloud computing are replacing office workers like bookkeepers and auditing clerks. As office jobs become more automated, bookkeepers are expected to take on more advisory and analytical roles in the office.
The U.S. Bureau of Labor Statistics (BLS) reports that more bookkeepers will be hired as others leave the occupation. As of May 2017, bookkeepers earned an average annual wage of $41,110 with the average hourly rate at $19.76. Here are the industries with the highest number of bookkeepers employed according to the bureau.
• Accounting, Tax Preparation, Bookkeeping, and Payroll Services
• Office Administrative Services
• Land Subdivision
• Insurance and Employee Benefit Funds
• Lessors of Nonfinancial Intangible Assets
Some believe that bookkeepers are the backbone of a business office because of the importance of their work. Becoming a bookkeeper can be the stepping stone to a career as an executive assistant or office manager.
Sources:
