Bookkeeper Job Description: Hiring Made Easier

Bookkeeping is an essential part of businesses of all types and sizes. It involves recording, tracking, and managing financial transactions. A bookkeeper's job description and role involves ensuring that all financial dealings are logged correctly and in line with the necessary legal requirements compliance.

They are in charge of ensuring all cash flow is accurately documented and updated. They also help you analyze your business finances and ensure everything is up-to-date and accurate. Without accurate must, a business can easily end up in a financial mess and even get into legal trouble.

So, getting a bookkeeper for a small business is the ultimate solution!

In this blog post, we will have a closer look at the job description of a bookkeeper. We will talk about their role, responsibilities, qualifications, and more.

Read on!

Who is a Bookkeeper?

Bookkeepers are professionals responsible for keeping businesses organized and on top of their finances. They record, manage, and maintain all the financial transactions within a company.

It includes purchases, sales, receipts, and payments. Along with this, they also make sure all the financial records are accurate, accounts are balanced, and financial statements are prepared. Bookkeepers also ensure legal requirements compliance and help you avoid penalties and mistakes down the line.

Tasks of a Bookkeeper

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A bookkeeper ensures a business runs without any issues. Here's a look at some of the bookkeeping tasks performed by a these professionals:

• Entering transactions into the company’s financial system
• Creating and updating spreadsheets and reports
• Reconciling bank statements and double-checking financial records to ensure everything adds up
• Keeping track of all the finances and creating financial statements like a Profit and Loss Statement, Balance Sheet, etc.
• Preparing accounts and statements like cash flow statements, general ledger, etc.
• Keeping inventory records up-to-date
• Managing accounts payable and receivable
• Ensuring all invoices are sent out, and payments are collected
• Preparing and filing taxes on time
• Ensuring meticulous record-keeping practices aligned with IRS regulations
• Adhering to GAAP standards in financial reporting to provide stakeholders with transparent and accurate information

What does a Bookkeeper typically do?

The duties and responsibilities of a bookkeeper vary from business to business. Depending on the company they are working for, a bookkeeper has to perform several responsibilities and take care of multiple tasks.

So, what do bookkeepers do?

• Managing accounts receivable and accounts payable functions, including invoicing customers, processing cash receipts, inputting vendor invoices, and preparing cash disbursements.
• Preparing weekly payroll for non-union employees, including calculation and payment of taxes and benefits.
• Preparing quarterly and annual payroll tax returns and forms like W-2s and 1099s.
• Overseeing inventory control.
• Coordinating tax reporting requirements with external accountants to file corporate income tax returns and property tax returns.
• Assisting with managing corporate insurance policies, including audits, claims, and manuals.
• Helping with the development and administration of employee benefits.
• Maintaining employee files, records, and the employee handbook.
• Completing various clerical tasks and special projects as requested.
• Creating different accounts
• Defining bookkeeping policies and principles for a business and ensuring they are being followed
• Recording and maintaining daily financial transactions and ensuring they are accurate and up-to-date
• Preparing and presenting financial reports to management
• Developing and implementing financial procedu0res and policies
• Creating a trial balance for the accountants
• Monitoring the project budget and ensuring that all the expenses stay within the limit
• Providing support to other departments, such as payroll or human resources

What skills are necessary for full-charge bookkeepers?

Being a full-charge bookkeeper requires a lot of expertise and skill. This can include, but is not limited to, managing a business's financial data and transactions, having a high level of mathematical and accounting skills, etc.

Finding a bookkeeper with the right skill set is essential for your business's continued growth and success. That said, let's have a quick look at some critical skills a bookkeeper must possess:

• Accounts Payable & Receivable
• Amortization
• Balance Sheet Review
• Bank Reconciliation
• Bookkeeping
• Depreciation
• Payroll Administration
• Proficiency in software tools like QuickBooks, Xero, Saga, etc
• Strong multitasking
• Excellent communication skills
• Payroll Administration
• Payroll Processing

Educational or training requirements for becoming a bookkeeper

While there are no strict educational requirements to become a bookkeeper, understanding accounting principles and bookkeeping practices can be helpful. Some jobs also require bookkeepers to have a bachelor's degree in accounting or a related field, while others may just require a high school diploma.

Bookkeepers can also opt for various certifications to enhance their knowledge and improve their employability.

These include the Certified Bookkeeper (CB), Certified Public Bookkeeper (CPB), and QuickBooks Certified User.

Regarding the training requirements, bookkeepers must undergo on-the-job training to acquire the necessary skills and knowledge before they start working at a company.

It usually involves working under a supervisor, a more experienced bookkeeper, or an accountant. Learn about the new trend of fraction accounting if you cannot afford a full-time accountant.

It can also include attending seminars and workshops or taking online courses.

Experience requirement

While having a formal education is great for a bookkeeper, employers also look for practical experience. Most employers want someone with at least two to three years of relevant work experience. This could include knowledge and experience in bookkeeping software, financial statement prep, bank reconciliations, and payroll processing.

Additionally, employers usually favor candidates with prior client or customer service experience and stellar communication abilities. Those just starting in the bookkeeping world can get relevant experience through internships and entry-level jobs.

Bookkeeper Salary Expectations

When it comes to bookkeeper salary expectations, the average yearly salary in the U.S. is $42,726. However, the actual salary could vary depending on the location, experience, and industry.

Bookkeepers in an entry-level job can expect to make around $30,000 each year, but those with more experience can make up to $60,000 or even more. Plus, freelance bookkeepers usually charge an hourly rate starting from $20 or above, depending on their qualifications and background.

How does a Bookkeeper impact your business?

1. Great financial savings

A bookkeeper can be a great asset if you're looking to save money. They will keep track of your expenses, bank accounts, etc., and help you figure out where you can cut costs. Plus, they will provide regular financial reports, so you can make knowledgeable decisions on where to invest your money.

2. Always updated finances

Bookkeepers can help you keep your financial records up-to-date and accurate. This can help save you from making costly mistakes and give you a better handle on your business's financial situation at all times.

3. Expertise readily available to you

A bookkeeper can bring a lot of experience and expertise to the table. They can help you make smart decisions and give you tips on tax planning, cash flow management, and other financial matters. Their expertise will ensure you are always on top of your finances and can make smart decisions.

4. More effective cash flow management

A bookkeeper can make your life easier when it comes to managing cash flow-related matters. They can monitor your spending and income, create predictions of your cash flow, and help you spot any issues before they become serious problems.

5. Greater scalability

One of the major bookkeeper responsibilities is to help you grow your business. They can produce financial reports and provide the necessary information to make smart decisions and scale up effectively. With the right data, you can take advantage of new opportunities and keep your business growing sustainably and profitably.

6. Compliance with IRS Regulations

A bookkeeper well-versed in IRS regulations ensures that your financial records are accurately maintained, reducing the risk of errors or discrepancies that could lead to IRS penalties or audits.

7. GAAP Adherence

Understanding GAAP is crucial for accurately recording financial transactions and preparing financial statements. A bookkeeper proficient in GAAP ensures that your financial reports comply with industry standards, enhancing credibility and trust among stakeholders.

8. Tax Efficiency

A knowledgeable bookkeeper can identify tax deductions and credits applicable to your business, maximizing tax savings while ensuring compliance with tax laws. They can also assist in timely filing of tax returns, avoiding late fees and penalties.

Bookkeeper Job Description Samples

Now that we have discussed bookkeeper job specifications. Let's look at some sample bookkeeping job descriptions for more clarity.

1. Job Title: Full-Time Bookkeeper

Job Description:

We are looking for a skilled and organized professional to join our team as a full-time bookkeeper. The ideal candidate should have a firm grasp of accounting principles and bookkeeping. They should be familiar with QuickBooks and other bookkeeping software.

Key Responsibilities:

• Keeping accurate financial records
• Managing accounts payable and accounts receivable
• Producing financial statements
• Helping with tax preparation.

Skills Required:

• Bachelor's degree in Accountancy or any other equivalent qualification
• Data entry skills
• Good communication and attention to detail

2. Job Title: Part-Time Bookkeeper

Job Description:

We are searching for an experienced part-time bookkeeper to join our team. The perfect applicant should have experience managing bookkeeping software in a flexible setting. This is a flexible part-time role with growth potential.

Key Responsibilities:

• Overseeing accounts payable and accounts receivable
• Balancing bank statements
• Tax Preparation

Skills Required:

• Good typing speed with proficiency in Excel, QuickBooksPreparation, and other similar software
• Gmail operation
• Proven bookkeeping experience

3. Job Title: Remote/Freelance Bookkeeper

Job Description:

We seek a highly detail-oriented and knowledgeable remote/freelance bookkeeper to become part of our team. As a remote bookkeeper, you will ensure that our financial records are kept up-to-date and accurate. You should be comfortable working independently and have a sound understanding of accounting principles and practices.

Key Responsibilities:

• Record financial transactions and reconcile accounts
• Create financial reports, including profit and loss statements, balance sheets, and cash flow statements
• Ensure compliance with accounting regulations and standards

Skills Required:

• Proven experience as a freelance bookkeeper or in a similar role
• Excellent organizational and time-management skills
• Ability to work independently and remotely

If you want to hire a bookkeeper for your business, use the above examples as a bookkeeper job description template to get started!

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Conclusion

To sum up, having an accurate and precise bookkeeper job description is essential for finding the ideal candidate for your business's financial needs.

It helps draw in the right people and outlines the qualifications, duties, and capabilities required for the role. This greatly benefits both the employer and the employee, saving time, effort, and energy.

With Wishup you can avoid the time-consuming process of going through job descriptions.

Our platform enables you to look for the best virtual bookkeeper within a few clicks without requiring a lengthy hiring process.

Visit our website to schedule a free consultation, or email us at [email protected]

Bookkeeper Job Description: Most Googled Questions

1. Is a bookkeeper an Accountant?

Bookkeepers and accountants have some similarities in their duties, but they are not the same. Bookkeeping involves keeping precise financial records, inputting transactions, reconciling bank statements, and preparing financial reports.

Accountants take on a more strategic role, analyzing financial data and preparing tax returns, financial statements, etc. Accountants usually need higher levels of education and certification than bookkeepers.

2. What type of job is a bookkeeper?

Bookkeepers are professionals responsible for keeping track of all a company's financial records. They record financial transactions, take care of accounts payable and accounts receivable, reconcile bank statements, create financial reports, and help with tax-related stuff. They can work in various industries, like healthcare, retail, and manufacturing.

3. Do you need a bookkeeper if you use account software?

While accounting software can help make financial record-keeping easier, it doesn't replace the need for a bookkeeper. Bookkeepers make sure the data entered into the software is accurate and current. Not only this, but they offer helpful advice and potential solutions to issues the software alone couldn't pick up on.