Bookkeeper

A bookkeeper or an accounts clerk is the person who records all the financial transactions of a business. This includes income, expenditure and cash.

In large organisations a bookkeeper brings the books to trial balance stage; then an Accountant would complete the Profit & Loss Statement and the Balance Sheet.

In smaller organisations a bookkeeper will often do all those things.

Tasks a bookkeeper may perform include:

• Recording cash payments and expenses.
• Recording credit sales and purchases.
• Daily or Weekly Banking
• Calculating recording the payroll
• Accounts Payable (Including paying suppliers and responsibility for petty cash)
• Accounts Receivable (Including invoicing clients and chasing up overdue amounts)
• Bank Reconciliations
• All accounts to trial balance
• Balance day adjustments such as calculating and entering depreciation.
• Preparing some Tax Statements such as the BAS & payroll tax
• General journal entries
• Liasing with customers, suppliers, managers, sales and marketing and all other departments in the organisation
• Chasing up paperwork and authorisations from managers
• Can sometimes include monthly financial reporting under the supervision of an accountant.
• Using accounting software for entering data and producing many different reports.
• Checking for errors and balancing the books.

OPPORTUNITIES

There are many opportunities for Bookkeepers as every business needs one or more. With increasing and stricter business, accounting and taxation laws, the demand for bookkeepers is becoming stronger.

Bookkeepers can either work full-time or part-time for a business, or they can start up their own bookkeeping business. Bookkeepers may also choose to do further studies and become qualified accountants.

REMUNERATION

Self employed bookkeepers can earn good money.

Bookkeepers employed in medium or larger organisations may have job security, but they are likely to earn a lower rate of pay.  That however can vary depending on the company, how long you have been with them and how happy they are with you.

The great thing about being a bookkeeper is that there are often a lot of jobs available, so you are unlikely to be out of work.

If you open up your own bookkeeping business, there is a potential to earn average to high salaries.

Bookkeepers who do further studies can increase their range of services, and potential to earn above average salaries, as a financial advisor, financial planner, finance company agent through to chartered accountant.

Recommended Courses that enable membership to the Institute of Certified Bookkeepers are:

Bookkeeping Foundations

Bookkeeping Operations