This is the right time to think about a career in bookkeeping if you have always wanted to do this. The profession has many advantages. It's a great profession that offers a high salary and a variety in job duties. The following article will give an overview about the job duties, education requirements, career advancement, and other details. Bookkeeping can be a rewarding career, no matter if you're looking for work in the accounting sector or in an administrative setting.
Duties of the job
A bookkeeper's job entails recording financial transactions and posting them into accounts. They also keep track of key accounting records and the ledgers. Bookkeepers should have excellent time management and organizational skills. This job is a great step into more senior accounting roles and allows you to experience many different aspects. If you are interested in a career as a bookkeeper, a certificate program may be right for you.
Most bookkeepers are paid on an hourly basis, which means they make approximately $20 an hour, or about $40,000 per year, assuming a 40-hour workweek. Bookkeepers often work overtime which gives them 1.5 times the average wage. Bookkeepers can work longer hours during tax season. Educational requirements can vary from one employer to the next, depending on the company. While there are no set educational requirements, most employers prefer to hire candidates with some postsecondary education.
Salary
Bookkeeping has many benefits, including high job security. Bookkeeping jobs may not be glamorous but the pay can often be commensurate with the amount of work. This profession involves working closely in raw data and developing an understanding of business. If they work hard, bookkeepers have the potential to rise to a higher position in business or accounting. The table below lists the average hourly earnings 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 that bookkeeping jobs will decrease by about 2% by 2022, but the Robert Half Salary Guide points out that demand will remain steady or increase in certain industries. The publication estimates that the median total cash salary for a bookkeeper would be around $45,685 each year. This is approximately the same average pay as for a computer engineering engineer.
Education Required
The bookkeeping career is very versatile. Many bookkeepers hold bachelor's degrees or associate's degrees, but a high school diploma will suffice. The degree equips bookkeepers with basic math, writing and communication skills that are necessary to be successful in their profession. This degree can help bookkeepers develop time management and management skills. A bookkeeper can work on a freelance basis or for a firm that requires specific skills.
Employers are increasingly interested in certification. 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. Also, certifications increase a bookkeeper’s marketability. Employers will also notice that the bookkeeper is dedicated to the job.
Career progression
There are many career options in the bookkeeping industry, including becoming a freelancer or getting certified as a public accountant. Flexibility, regular office hours with holiday pay, and benefits are all part of this profession. You have the option to choose to work for yourself, so that you can set your own rates. If you want more flexibility in your hours, you can train as an accountant or management accountant.
After you complete an online course, it is possible to start working as an entry-level bookkeeper. You may also pursue further education in accounting or business administration. During your training you will be required to take an exam such as the AIPB Certification Exam, or NBA Uniform Bookkeeper Certification Test. You may be eligible for a job at bookkeeping supervisor, depending on your education.
FAQ
What is the importance of bookkeeping and accounting?
Accounting and bookkeeping are essential for every business. They help you keep track of all your transactions and expenses.
They also help you ensure you're not spending too much money on unnecessary items.
You must know how much profit each sale has brought in. It is also important to know how much you owe others.
If you don’t have enough money, you might think about raising the prices. However, if your prices are too high, customers might not be happy.
You might consider selling off inventory that is larger than you actually need.
You can reduce the number of products or services you use if you have less money.
These things can have a negative impact on your bottom line.
What does an accountant do? Why is it so important to know what they do?
An accountant keeps track and records all the money you spend and earn. They track how much you pay in taxes and what deductions you are allowed to make.
An accountant helps manage your finances by keeping track of your income and expenses.
They assist in the preparation of financial reports for both individuals and businesses.
Accounting is a necessity because accountants must know all about numbers.
A professional accountant can also help with taxes, so that people pay as little tax as they possibly can.
What type of training is required to become a Bookkeeper?
Basic math skills are required for bookkeepers. These include addition, subtraction and multiplication, divisions, fractions, percentages and simple algebra.
They should also know how to use computers.
The majority of bookkeepers have a high-school diploma. Some even have college degrees.
Statistics
- a little over 40% of accountants have earned a bachelor's degree. (yourfreecareertest.com)
- Employment of accountants and auditors is projected to grow four percent through 2029, according to the BLS—a rate of growth that is about average for all occupations nationwide.1 (rasmussen.edu)
- 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)
- "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)
- 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)
External Links
How To
How to do bookkeeping
There are many different types of accounting software. Some are free, some cost money, but most offer basic features such as invoicing, billing, inventory management, payroll processing, point-of-sale systems, and financial reporting. Below is a short description of some common accounting packages.
Free Accounting Software: This accounting software is generally free and can be used only for personal purposes. Although the software may be limited in functionality, such as not being able to create your own reports, it is very easy to use. Many free programs also allow you to download data directly into spreadsheets, making them useful if you want to analyze your business's numbers yourself.
Paid Accounting Software: Paid accounts are designed for businesses with multiple employees. 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: With cloud accounting software, you can access your files online from any device using smartphones or tablets. This program is becoming increasingly popular due to its ability to save space on your computer hard drives, reduce clutter, and make remote work easier. You don't even need to install any additional software. You just need an Internet connection and a device capable to access cloud storage.
Desktop Accounting Software: Desktop software works in a similar way to cloud accounting software. However, it runs locally on your own computer. Desktop software is similar to cloud software. You can access your files from anywhere you want, even through 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 let you manage your finances while on the go. Although they offer less functionality than full-fledged desktop applications, they are still very useful for people who travel or run errands.
Online Accounting Software: This software is primarily designed for small businesses. It has all the features of a traditional desktop software package, but with a few additional bells and whistles. Online software does not need to be installed. Just log in and you can start using it. Online software also offers the opportunity to save money as you can avoid local office fees.