What Does a Bookkeeper Do? Duties + Benefits for Businesses

Another essential skill for bookkeepers is a thorough understanding of accounting principles. A solid foundation in key accounting concepts, such as double-entry bookkeeping, accruals, and financial statements, guarantees that bookkeepers can provide relevant and reliable financial information. A bookkeeper with strong attention to detail can identify inconsistencies or inaccuracies in financial records, ultimately helping the business maintain clear and accurate documentation.

Resolving Bank Discrepancies

It also opens the possibility of becoming a remote QuickBooks Live bookkeeper with Intuit. Although you certainly can do formal bookkeeping training (e.g., online bookkeeping courses, relevant degree), many bookkeepers simply learn the ropes through on-the-job training. Suppose you’re looking for support with your everyday bookkeeping needs. In that case, whether you’re a freelance bookkeeper with several clients or simply looking to handle the bookkeeping for your own business, FreshBooks can help. Our cloud-based bookkeeping software solution is quick, efficient, and capable of saving you countless hours of administrative work.

Be a Bookkeeper from Home

You know what a bookkeeper does and what their day-to-day responsibilities look like. But how do these job duties translate into benefits for your business? A bookkeeper can help organize your business finances so you can focus on running and growing your small business. This includes calculating wages, figuring out tax deductions and other withholdings, and making sure payments go out on time. Staying up-to-date with payroll rules helps the business pay people correctly and handle payroll taxes properly. Below is a sample bookkeeper job description that you can customize to meet the needs of your business.

How to Become a Bookkeeper

To summarize, bookkeepers play a crucial role in maintaining accurate double declining balance depreciation method and organized financial records for various types of businesses. Small businesses and sole proprietorships require bookkeepers to manage their general ledger, chart of accounts, and adhere to local legal requirements. On the other hand, corporate bookkeeping involves managing subsidiary accounts and adhering to specific standards such as GAAP or IFRS. Bookkeeping for small businesses and sole proprietorships involves managing the general ledger and maintaining accurate records of the company’s financial transactions. Bookkeepers for small businesses typically record journal entries, perform bank reconciliations, handle payroll, and generate financial statements for the owner to make informed decisions.

• A full-charge bookkeeper can manage accounts, generate financial reports, process payrolls, and ensure compliance with financial regulations.
• Do you need someone for basic data entry and reconciliations, or are you looking for deeper expertise like financial analysis or industry‑specific bookkeeping?
• The course equips you with the confidence to target a minimum of $60 for your hourly rate.
• And while keeping accurate records helps ensure clearer financial insights and smoother tax seasons, it’s easy for small business owners to fall behind or make errors.
• Corporate bookkeeping often requires a higher level of organization and accuracy due to the larger volume of financial transactions and the need for more detailed financial reporting.

Basic bookkeeping responsibilities

Earning a bookkeeping certification demonstrates to prospective employers that you have bookkeeping experience, skills and knowledge, and that you’re committed to professional ethics. Although not mandatory, certification can lead to better job opportunities and higher salaries. Start with QuickBooks, as it’s the most widely used accounting software for small businesses. Also, Accounting Periods and Methods develop strong Excel skills, then expand to other platforms like Xero, FreshBooks, or industry-specific software. While not required, tax knowledge significantly enhances a bookkeeper’s value.

Start learning and launch your bookkeeping career

• Bookkeepers prepare and send invoices to customers, as well as keep track of who has paid and who hasn’t (accounts receivable).
• If you recognize one or more items on this list, your small business could potentially benefit from a bookkeeper.
• Ultimately, what strengthens your credentials are sufficient experience and a good track record, either in bookkeeping or accounting.
• Accountants on the other hand, go through rigorous training and standardized exams to become certified public accountants.
• But what do all of these figures mean, and where do you go from there?

Start by assessing the complexity of your finances and the support you require. Do you need someone for basic data entry and reconciliations, or are you looking for deeper expertise like financial analysis or industry‑specific bookkeeping? Understanding these needs will guide your search and help you find the right fit. Staying on top of record‑keeping throughout the year makes tax season far less stressful, reducing the risk of errors and penalties. what does full charge bookkeeper mean A bookkeeper can help create accurate financial statements, making it easier to secure financing or expand into new markets when the time is right.

What Is a Bookkeeper — And Who Should Hire One?

I didn’t go to what felt like the traditional route of going to a Big Four accounting firm. I remember talking to the manager at my first job before they hired me. Manufacturing bookkeepers need to accurately recognize goods throughout the production process, including raw materials, work-in-progress, and finished goods. NACPB produces America’s most qualified bookkeepers providing America’s #1 bookkeeping education, certification, experience, and license. Review essential duties, responsibilities, and requirements for this in-demand role.

AIPB’s self-study CB prep course costs $479 for members and $574 for nonmembers and includes all certification costs, including an enrollment fee, workbooks and Prometric test fees. AIPB also offers an instructor-led online prep course that costs $1,475 for members and $1,495 for nonmembers and includes all certification costs. But focusing on one area of the field can develop expertise that might lead to new opportunities in that niche. Technology and automation have eliminated some jobs, and the BLS projects a 5% decline in employment of bookkeepers between 2023 and 2033. The American Institute of Professional Bookkeepers (AIPB) and the National Association of Certified Public Bookkeepers (NACPB) provide bookkeeping certifications.