If you've always wanted to work in the bookkeeping profession, now is the time to consider making this your career. There are many benefits to this profession. It's an excellent way to earn a competitive salary and have a wide variety of job duties. This article will provide an overview of job duties, education requirements and career progression. Whether you'd like to work in the accounting industry or in an office setting, bookkeeping can be an excellent choice.
Doing job
Bookkeepers are responsible for recording financial transactions, and posting them to accounts. They maintain key records for an organization's accounting including the ledgers. Bookkeepers should have excellent time management and organizational skills. This job can be a great stepping stone to higher-ranking positions in the accounting industry and provide you with exposure to many aspects of the field. If you are interested in a career as a bookkeeper, a certificate program may be right for you.
Bookkeepers get paid an hourly wage, which works out to about $20 per hour. This is approximately $40,000 per annum, assuming they work 40 hours a week. Bookkeepers can earn 1.5 times what the average worker by working overtime. Many bookkeepers work extra hours during tax season. The requirements for education are different depending on the employer. While there aren't any set educational requirements for employers, many prefer to hire candidates with postsecondary education.
Salary
You have many benefits as a bookkeeper. These include a high degree of job security. While bookkeeping jobs can not be glamorous, the compensation is often fair for the work. This occupation requires a deep understanding of business and raw data. If they are hardworking, bookkeepers can rise to higher levels in accounting and business careers. The table below displays the hourly average wage for bookkeepers.
A bookkeeper salary in the United States can range anywhere from $30,000 to $60,000 per annum, but this will depend on the company, whereabouts and experience of the candidate. The United States Bureau of Labor Statistics predicts bookkeeping jobs to decrease by around 2% by 2022. However the Robert Half Salary Guide notes that there will still be demand in certain industries or steady. According to the publication the median total cash compensation of a bookkeeper will be approximately $45,685 annually, which is almost the same amount as the average salary for a computer engineer.
Education necessary
The bookkeeping career is very versatile. Many bookkeepers hold bachelor's degrees or associate's degrees, but a high school diploma will suffice. This degree provides bookkeepers with the necessary basic math, writing, and communication skills needed to succeed in this profession. They will also be able to improve their time management and management skills. You can either work as a bookkeeper on a freelance basis, or in a company that requires certain skills.
Certification is becoming increasingly popular among employers. Not only does certification provide a professional with higher-level skills, but it also signals that a bookkeeper is committed to continuing education. The Certified Bookkeeper certification shows that a bookkeeper keeps up to date with new software and processes. A bookkeeper's marketability is also increased by obtaining certifications. Employers will also notice that the bookkeeper is dedicated to the job.
Career progression
There are many ways to advance in the field of bookkeeping. You can become a self-employed freelancer or get certified as an accountant public. Flexible hours, regular office hours and holiday pay are some of the many benefits this profession offers. You also have the option of becoming self-employed to determine your own rates. If you want more flexibility in your hours, you can train as an accountant or management accountant.
An online course can prepare you to work as an entry-level accountant or for higher education in accounting and business administration. During your training period, you will be required take a certification exam like the AIPB Certification Examination or NBA Uniform Bookkeeper Certification Evaluation. You might be eligible to apply for a job in bookkeeping supervisor depending on your education and work experience.
FAQ
What type of training is required to become a Bookkeeper?
Basic math skills such as addition and subtraction, multiplication or division, fractions/percentages, simple algebra, and multiplication are essential for bookkeepers.
They also need to know how to use a computer.
Most bookkeepers have a high school diploma. Some even have college degrees.
What is an Audit?
An audit is a review of a company's financial statements. Auditors examine the company's books to verify everything is correct.
Auditors are looking for discrepancies among what was reported and actually occurred.
They also examine whether financial statements for the company have been properly prepared.
What is a Certified Public Accountant (CPA)?
Certified public accountant (C.P.A.). A person who is certified in public accounting (C.P.A.) has specialized knowledge in the field of accounting. He/she has the ability to prepare tax returns, and assist businesses in making sound business decision.
He/She also keeps track of the company's cash flow and makes sure that the company is running smoothly.
What should I look for in an accountant's hiring decision?
Ask questions about the qualifications and experience of an accountant when you are looking to hire them.
You want someone who's done this before and who knows the ropes.
Ask them about any skills or knowledge they may have that could be of assistance to you.
Make sure they have a good reputation in the community.
What is bookkeeping?
Bookkeeping can be described as the keeping of records about financial transactions for individuals, businesses and organizations. It also includes the recording of all business-related income and expenses.
Bookkeepers track all financial information such as receipts, invoices, bills, payments, deposits, interest earned on investments, etc. They prepare tax returns, as well as other reports.
What is the difference in Chartered Accountant and a CPA?
Chartered accountants are professional accountants who have passed the required exams to earn the designation. Chartered accountants are usually more experienced than CPAs.
Chartered accountants are also qualified in tax matters.
To complete a chartered accountant course, it takes about 6 years.
Accounting is useful for small business owners.
Accounting isn't just for big companies. It is useful for small-business owners as it helps them track all the money that they spend and make.
If your business is small, you already know how much money each month you make. What happens if an accountant isn't available to you? You might find yourself wondering where you are spending your money. It is possible to forget to pay your bills on a timely basis, which can negatively affect your credit rating.
Accounting software makes it easy for you to keep track and manage your finances. And there are many different kinds available. Some are free and others can be purchased for hundreds or thousands of dollar.
However, regardless of the type of accounting software you choose, you will need to be familiar with its basics. You won't have to spend time learning how it works.
You should learn how to do these three basics tasks:
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Record transactions in the accounting system.
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Keep track of incomes and expenses.
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Prepare reports.
These are the three essential steps to get your new accounting system up and running.
Statistics
- In fact, a TD Bank survey polled over 500 U.S. small business owners discovered that bookkeeping is their most hated, with the next most hated task falling a whopping 24% behind. (kpmgspark.com)
- Given that over 40% of people in this career field have earned a bachelor's degree, we're listing a bachelor's degree in accounting as step one so you can be competitive in the job market. (yourfreecareertest.com)
- BooksTime makes sure your numbers are 100% accurate (bookstime.com)
- According to the BLS, accounting and auditing professionals reported a 2020 median annual salary of $73,560, which is nearly double that of the national average earnings for all workers.1 (rasmussen.edu)
- "Durham Technical Community College reported that the most difficult part of their job was not maintaining financial records, which accounted for 50 percent of their time. (kpmgspark.com)
External Links
How To
How to do Bookkeeping
There are many options for accounting software today. While some are free and others cost money, most accounting software offers basic features like invoicing, billing inventory management, payroll processing and point-of-sale. The following list provides a brief description of some of the most common types of accounting packages.
Free Accounting Software - This free software is often offered to personal use. It may have limited functionality (for example, you cannot create your own reports), but it is often very easy to learn how to use. Many programs are free and allow you to save data to Excel spreadsheets. This is useful if you need to analyze your own business numbers.
Paid Accounting Software (PAS): Paid accounts for businesses with multiple workers. They typically include powerful tools for managing employee records, tracking sales and expenses, generating reports, and automating processes. Many companies offer subscriptions with a shorter duration than six months, but most paid programs require a minimum subscription of at least one year.
Cloud Accounting Software: Cloud accounting software allows you to access your files anywhere online, using mobile devices such as smartphones and tablets. This program has gained popularity due to the fact that it frees up space on your hard drive, reduces clutter, is easier to use remotely, and also makes work more efficient. You don't even need to install any additional software. All that is required to access cloud storage services is an Internet connection.
Desktop Accounting Software: Desktop Accounting Software works on your computer, just like cloud accounting. Desktop software works in the same way as cloud software. It allows you to access files from any location, including via mobile devices. However, unlike cloud-based software, desktop software must be installed on your computer before it can be used.
Mobile Accounting Software - Mobile accounting software is specially designed for small devices such as smartphones and tablets. These programs make it easy to manage your finances wherever you are. They have fewer functions that full-fledged desktop apps, but they're still extremely useful for people who travel often or run errands.
Online Accounting Software is specifically designed for small businesses. It includes everything that a traditional desktop package does plus a few extra bells and whistles. Online software doesn't need to be installed. All you have to do is log on and get started using it. Online software also offers the opportunity to save money as you can avoid local office fees.