Main Responsibilities of a Bookkeeper Occupation
The definition of a bookkeeper is quite simple, even if some people might confuse it with that of an accountant. In large and important companies, a bookkeeper can work in many different fields, from Payroll to Accounts Receivable and Accounts Payable. Even if these people are often referred to as clerks, they are in fact bookkeepers. In smaller companies though, bookkeepers may be responsible with only the data a real accountant must receive.
In general terms however, bookkeeping describes a well-ordered process consisting of managing transactions and entering them into journals, preparing reports, financial statements and making adjustments. Furthermore, a person who performs this job must also be able to record payments from the customers and sales on account, to enter purchase orders and also checks and to compile data into the General Ledger.
- Job responsibilities
A bookkeeper’s job is office-based and his responsibilities can vary a lot. The main thing a bookkeeper must do though is to be in charge of the company’s records. The person who works as a bookkeeper must know how to use a computer in order to keep records of different financial transactions and to verify, allocate and post details of them to the requested subsidiary accounts in journals or specific computer files. These transactions often include sales slips, check stubs, invoices, computer printouts and receipts.
Moreover, a bookkeeper must also be able to summarize details in different computer files or separate ledgers, reconcile and balance multiple accounts of diverse clients and compile reports in order to show statistics such as expenditures, cash receipts, profits or losses and payable accounts. He may also be responsible with preparing withholdings, social security taxes and many other different taxes of the company, as well. But besides maintaining the records of the taxes in the company he works in, a bookkeeper must also deal with sales, expenses, inventories and revenues of the organization he’s an employee of.
- Training and education
In order to become a bookkeeper, one must have great knowledge concerning debits and credits and proper distributions of accounts. There are some universal bookkeeping courses that one may take in order to be able to perform this job properly, consisting in nine programs for nine different businesses. These courses teach future bookkeepers about the various phases an accounting cycle has. Those who want to take these kinds of courses though, must ensure they are accredited. Except these, bookkeepers aren’t requested any other special qualifications. The requirements don’t even include college degrees or specific certifications.
- Salary and wages
A bookkeeper’s salary depends mainly on the country he’s working in. In the United States a bookkeeper can receive an average amount of $36,000 for his services throughout a year, but in different places a bookkeeper’s salary can even reach $48,000. As a general average though, their salaries revolve around the sum of $40,000 per year which is in fact a very respectable amount of money. However, if one isn’t pleased with the type of salary he gets, he must know that he can evolve from being a bookkeeper to being an accountant, an inventory controller or even an auditor.