Bookkeeping is the act of recording financial transactions including sales, purchases, payments, revenue and payroll. They are sometimes referred to as accounting clerks, accounting technicians or accounting assistants. Primarily, their duties are to record all transactions in the correct daybook and bring the books to the trial balance stage by either using the single-entry bookkeeping system or the double-entry bookkeeping system. Balances and ledgers prepared by bookkeepers are then used by accountants to prepare income statements, balance sheets, and other documents for their organization. There are different levels in the complexion of bookkeeping depending on whether they are in charge of handling only specific accounts or if they must maintain books for an entire company.
An extremely important skill a bookkeeper must have is the ability to calculate and record data. They must excel in everyday math such as adding, subtracting, multiplying, and dividing, and they should be quite organized. Additionally, bookkeeping clerks are expected to have good communications skills and be computer-literate.
Computerized bookkeeping is most popular these days with the increase in technological advances and computer usage in most organizations’ daily operations and performance. Computer software can also help speed up the process of bookkeeping, allowing bookkeepers to perform other tasks such as writing letters, making phone calls to clients, and interacting with other workers.
Individuals interested in this field may have the opportunity to work in a variety of settings including businesses, government institutions, health care institutions, and many other organizations. Most bookkeeping clerks work regular, 40-hour business weeks, although some bookkeepers work only part time. Their annual salary is between $24,540 and $37,780 depending on their experience, education, and employers’ size and industry.
Online colleges that specialized in Bookkeeping:
