In the United States, there are roughly 1,730,500 bookkeepers. Despite increases in technology and software advances, bookkeepers are still necessary, especially in the professional, technical, and scientific industries.
Although this occupation is widespread and essential for many small businesses, some people are still unsure of what bookkeepers do.
What is a bookkeeper? And what does a bookkeeper do? This article will provide an answer to these questions and give you an in-depth understanding of the profession!
What Is a Bookkeeper?
Bookkeepers perform several roles to help a company remain profitable and avoid going over budget. While they are not financial advisors or accountants, they keep companies up to date on their transactions and accounts.
Typically, bookkeepers use cloud-based software to reconcile financial accounts, allowing them to work from home.
In addition to keeping track of finances, bookkeepers are usually responsible for the following tasks:
- Debt collection
- Disputing charges
These duties are vital for the success of a company, both short and long term.
What Training Do Bookkeepers Need?
While you don’t necessarily need to attend college to become a bookkeeper, you need to learn the ins and outs of the profession. Online bookkeeping courses are the most convenient way to do so.
After you have gone through basic bookkeeper training, you may wish to enhance your resume by becoming a certified bookkeeper with an official institute. Doing so indicates that you are competent and will increase your job prospects.
Moreover, potential employers are more likely to assign additional tasks to you if they see you are well-trained. Thus, you are likely to have an above-average salary for your profession.
How Much Do Bookkeepers Make?
The average bookkeeper salary is $42,410 per year, although this can be much higher if you are a freelance worker or independent contractor.
These individuals earn much more because they can charge a competitive rate for their services. Moreover, independent contractors can retain multiple clients, allowing them to increase their working hours if needed.
Of course, it takes time to retain a favorable reputation as a bookkeeper, so if you’re interested in going this route, you need to be willing to make less money the first year or so.
As you build your business, your time will become more valuable, and you can justify increasing your hourly rates.
On the other hand, working for an employer is much more stable. You will always have a steady paycheck, which means you won’t have to worry about having enough clients to pay your bills.
The bottom line is that you must choose whether you want to freelance or work for a company. Each has benefits and drawbacks, and your decision should be in line with your lifestyle and preferences.
Establish Your Career as a Bookkeeper
Bookkeeping is the perfect profession for organized and motivated individuals. It’s also an excellent career for anyone who wants to work from home and have a flexible schedule.
So, what is a bookkeeper? Perhaps the answer is your next career!
Would you like to learn more about the best careers? If so, check out the business section of our website!