Bookkeeper Job Description
Bookkeeper plays a pivotal role in an organization’s finance department. They lay the foundation of all the major documents related to financing. They are responsible for overseeing a large magnitude of financial transactions, recording and reconciling them to assist financial heads in the company in following accounting practices and implementing financial controls.
It is a must for a bookkeeper to not only have a full understanding and knowledge of accounting but also understand how accounting software in large companies can work. Hence, technology understanding is the key in this position.
What is Bookkeeping?
Book-keeping is generally recording or maintaining records of all financial events in a company. Any process that includes writing, recording, maintaining, and then reconciling financial data will simply be called Book-keeping. Standard methods used are entry systems in the software or previously manual ledgers. Knowing accounting principles is the key to book-keeping so a bookkeeper can raise the red flag if something is not done right.
Bottom Line About Bookkeepers
Bookkeepers are key to businesses, they will play a critical role in maintaining large magnitudes of data for financial accountants to rely on with their advice and decision making. If Financial controllers are providing systems, then ensuring those systems run properly is the responsibility of book-keepers.
Difference between Bookkeeper and Accountant
A bookkeeper will generally be responsible fully for recording and reconciling financial transactions within the department or the company. Book-keepers usually are back-bones of financial heads and accountants helping them keep a clear eye on all financial activities and giving them the data to mark their findings and recommendations. Think of book-keepers as the ones who lay all the platform and groundwork for accountants to play on as advisors and consultants within the company.
Relevant Skills and Knowledge:
Bookkeepers are responsible to record the daily financial ordeals of the company. Therefore they require a special set of skills for the documentation of financial records.
- Basic knowledge of accounting and its principles
- Knowing best practices of finance and accounting
- being able to record financial transactions error-free
- IT skilled
- Knowledge in IFRS, US GAAP, and other accounting frameworks
- Efficient data entry knowledge and skills
- Attention to detail and time management
- Proficiency in MS Excel and other relevant software
Job Duties and Responsibilities
There is a specific list of responsibility to partake as a Bookkeeper Key Job Duties and Responsibilities include
- maintaining accurate and true records of all the financial activities within the department or company
- Maintain general ledger and other accounting books
- Reconcile all entries as per agreed timelines
- Record all debits and credits
- Maintain healthy records of ledgers and balance
- Use knowledge of local laws to ensure assistance in financial controls
Bookkeeper Salary Range
A good company can offer well for a position of Bookkeeper in the UK region depending on the experience. Other variables in deciding the remuneration include employer, location of the employer, more importantly, qualification, experience, and track record of the candidate. Large multi-national companies or financial entities will offer attractive packages to get the best pool of talent.
The entry-level salaries of both bookkeepers and accountants will usually be on a similar level, but an accountant can have more potential to fast-track career progression.
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