Bookkeeper Job Description Sample

Bookkeepers are responsible for keeping track of transactions, deposits and income connected to a particular company or organization and ensuring that the information is documented in a ledger. Bookkeepers may use special software and online tools to carry out this monitoring process and create financial reports with that information. Bookkeepers are the ones who explain to management where the organization’s money is being spent and solve any inconsistencies in the financial accounting.

What are the primary responsibilities of a Bookkeeper?

• Keep track and document financial transactions
• Check whether the transactions comply with legal requirements
• Purchase materials and office supplies as sanctioned by management
• Receive invoices and pay suppliers without delay
• Monitor status of debts
• Keep track of the company’s receivables and ensure that they are collected on time
• Prepare and send invoices to customers
• Charge and collect sales tax from customers
• Prepare monthly summaries of cash receipts and bank deposits
• Verify the accuracy of all accounts on a timely basis
• Maintain the petty cash fund
• Make payments to effect the settlement of debts
• Prepare and maintain the annual budget
• Estimate variances from the budget
• Gather data for external auditors to prepare the annual audit
• Ensure that the accounting filing system is well-ordered
• Make sure all the reporting requirements are met
• Process payroll in a timely manner
• Offer administrative support when required
• Estimate the adjusted trial balance
• Issue financial statements
• Handover data to the external accountant who prepares financial statements
• Support and document historical records

How much can a Bookkeeper earn?

According to salary.com, the average Bookkeeper salary is $40,831 per year and lies in the range of $35,835 to $45,801.

What are the education and entry requirements for Bookkeeper?

To apply for bookkeeper roles, one should have an associate’s or bachelor’s degree in accounting or business administration, along with on-the-job experience in accounting. Employers often prefer hiring those skilled in the use of accounting software. A high school diploma and adequate experience would suffice for entry-level bookkeeping roles.

What are the skills and qualities required to become a successful Bookkeeper?

• Aptitude for numbers
• Computer savvy
• Problem solving skills
• Meticulous
• Eye for detail
• Systematic approach
• Organized
• Confidentiality
• Trustworthy

What are the pros of being a Bookkeeper?

• Flexibility to work from home on occasion
• High income potential
• You can be your own boss
• Flexible work schedules
• Job satisfaction

What are the cons of being a Bookkeeper?

• Stressful job (you have to handle a company’s sensitive information and data)
• Very detail oriented job
• Physical strain (You have to sit in one place for a long time)
• You may often be expected to put in long hours to meet deadlines

Work environment and career outlook

Jobs for Bookkeepers, accounting and auditing professionals are expected to increase by 14 percent from 2010 and 2020, according to the Bureau of Labor Statistics. Some of the places where these professionals can look for employment include government and private firms, NGOs, educational institutions, business and technical institutions etc. There is also the option of becoming a Freelance Bookkeeper. Those who excel at their work in this field can look forward to getting promoted to accountant and other senior roles.