In this article, we will show you the detailed and updated bookkeeper job description. Here you will also find the duties of a bookkeeper, responsibilities, qualifications, skills, and estimated annual salary.
This job description template provides critical duties and responsibilities for a bookkeeper. It’s ready to post on various job sites to assist you to recruit and hire talented book keepers who will help in executing strategies to optimize company and asset growth. As a job seeker, you can use this information to make a very rich resume and as well get yourself prepared for an interview.
Bookkeeper Job Description
A bookkeeper is in charge of keeping track of daily financial transactions, keeping a general ledger up to date, and making trial balances for accountants to look over. They keep and file the documents that are needed for tax compliance. They keep an eye on how much cash is coming in and going out and make financial reports to help managers make strategic decisions. Bookkeepers can also help your business with payroll and sending out invoices.
A typical accounting cycle has eight steps: New transactions, journal entries, posting, trial balances, worksheets, journal entry adjustments, financial statements, and closing the books. The key difference between a bookkeeper and an accountant is that a bookkeeper is generally responsible for the first six steps. An accountant is responsible for the last two, which involve preparing the balance sheet, income statement, cash flow statements, and closing the books.
Bookkeepers are in charge of a company’s financial data and making sure it follows the law. They do this by keeping accurate records of accounts payable and receivable, payroll, and daily financial entries and balances. They do accounting tasks every day, like making monthly financial reports, making entries in the general ledger, and keeping track of payments and changes. Many bookkeepers also help with basic HR tasks like new hire paperwork, compliance, and filings for temporary disability insurance and workers’ compensation. This makes them essential to the financial health of an organization.
Duties of a Bookkeeper
- Perform payroll functions in an accurate and timely manner, and submit payroll taxes.
- Conduct reconciliation of all accounts on an as needed basis.
- Maintain and balance the general ledger in an accurate, complete, and up-to-date manner.
- Perform all activities related to the accounts payable function including reviewing, coding, and processing payments.
- Perform account receivable functions including invoicing, deposits, collections, and revenue recognition.
- Prepare financial reports through collection, analysis, and summarization of data.
- Interpret and apply accounting policies, rules, and regulations to all work in order to ensure compliance with applicable standards.
Responsibilities of a BookKeeper
- Maintains records of financial transactions by establishing accounts; posting transactions; ensure legal requirements compliance.
- Develops system to account for financial transactions by establishing a chart of accounts; defining bookkeeping policies and procedures.
- Maintains subsidiary accounts by verifying, allocating, and posting transactions.
- Balances subsidiary accounts by reconciling entries.
- Maintains general ledger by transferring subsidiary account summaries.
- Balances general ledger by preparing a trial balance; reconciling entries.
- Maintains historical records by filing documents.
- Prepares financial reports by collecting, analyzing, and summarizing account information and trends.
- Complies with federal, state, and local legal requirements by studying requirements; enforcing adherence to requirements; filing reports; advising management on needed actions.
- Contributes to team effort by accomplishing related results as needed.
- Establishing different accounts
- Maintaining records of financial transactions by posting and verifying
- Defining bookkeeping policies and procedures
- Developing systems to account for financial transactions by establishing a chart of accounts
- Maintaining subsidiary accounts by posting, verifying and allocating transactions
- Reconciling entries to balance subsidiary accounts
- Maintaining a balanced general ledger
- Preparing a trial balance for the accountants
- Preparing financial reports by collecting, analyzing and summarizing accounting for information
- Ensuring compliance with federal, state and local legal requirements
- Monitoring for variances from the projected budget
- Advising management on compliance needs
- Assisting in financial activities such as running payroll and generating invoices
Qualifications of a BookKeeper
Qualifications can vary based on your organization’s needs. However, you want to at least include education, experience and licensing requirements in your job description.
- Bachelor’s degree in accounting, finance or related discipline
- CPA is desirable
- Previous bookkeeping experience preferred
- Experience working in a fast-paced environment
Skills of a BookKeeper
Here is a list of desired bookkeeper skills:
- Basic accounting knowledge
- Understanding of industry benchmarks in accounting best practices
- Knowledge of IFRS, U.S. GAAP or other industry-standard accounting frameworks
- Expertise in Microsoft Excel or any other spreadsheet
- Establishing accounts
- Developing standards
- Data entry
- Deep understanding of accounting principles
- Attention to detail
- Comfortable dealing with huge volumes of complex data
Salary of a BookKeeper
The average Bookkeeper salary in the United States is $42,360 as of October 27, 2022, but the range typically falls between $37,648 and $47,101. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession.
A good book keeper is more than just performing account receivable functions including invoicing, deposits, collections, and revenue recognition. A good book keeper must perform all activities related to the accounts payable function including reviewing, coding, and processing payments.
He / She ensures that they assist in the preparing and presenting quarterly and annual reports to senior management. Another important responsibility is to prepare financial reports by collecting, analyzing and summarizing accounting for information.
Finally, the duties of a book keeper is to provide excellent results and maintaining subsidiary accounts by posting, verifying and allocating transactions.
Sign up for job alerts
Be the first to know about new jobs by signing up for email alerts below.