Bookkeeping Job Overview
Bookkeepers are responsible for the financial accounts of a business or organization. They record transactions as money is acquired or spent. They run reports, analyze data, and verify receipts of payments.
Bookkeepers will typically perform many tasks each day, including the following:
- Use spreadsheets and software to complete records
- Issue and pay invoices
- Receive electronic payments, cash, and checks
- Monitor assets of a company or organization
- Create reports, such as income statements and balance sheets
- Check for accuracy in reports
- Analyze financial data from reports
- Reconcile accounts
- Process payroll
Bookkeepers often work alone and need to be able to focus on single tasks for long periods of time. Also, they need to be great at multitasking and terrific with numbers.
Bookkeeping Job Education Requirements
Bookkeepers need to have at least a high school diploma, but many employers prefer candidates who have a degree in accounting, finance, or business. Additionally, candidates need to have experience with using bookkeeping software and working with spreadsheets. Most bookkeepers also receive a fair amount of on-the-job training as new technologies and software are added or updated. Also, some companies require that bookkeepers acquire specific certifications.
Since the financial department is crucial to the overall success of a business, bookkeepers need to demonstrate experience or a high level of education to win the best jobs. Those who want to work their way up and continue to study for higher-paying positions in the field may pursue other positions, including senior corporate accountant jobs and management accountant jobs.
Bookkeeping Job Market
There are currently 1,799,800 Americans employed in bookkeeping jobs, and more than 204,000 new bookkeeping jobs will be available by 2022. This 11 percent projected job growth means that bookkeepers are going to be in high demand for some time. The job growth increase is directly related to the overall economic growth of the country. As more companies are created, more bookkeepers are needed to manage their finances. Also, technological advances mean that it’s really important for bookkeepers to be well educated and trustworthy.
Bookkeeping Job Salary Information
The average annual salary for bookkeepers in 2012 was $35,170. In states with a higher demand for bookkeepers, bookkeepers can earn a median annual salary of more than $54,000 while the low-end median annual salary for bookkeepers is less than $21,610. To command a higher salary in one of the competitive positions, bookkeepers should continue their education.