Bookkeeper Job Description and Duties. Considering several case studies, it can be said that bookkeepers are the final game-changer. He/she can turn around the company through perfect bookkeeping records. Bookkeepers are invaluable assets who are responsible for ensuring day-to-day. Those companies that have weak bookkeeping staff cannot maintain a competitive advantage and lose a significant portion of the market share due to weak bookkeeping practices.
Often companies believe that the bookkeeper’s job is only to record day-to-day business transactions and that’s it, however, when you analyze from the strategic perspective, you will understand they have other responsibilities. That includes preparing expense receipts, payroll, invoicing and billing, and maintaining a record of other similar administrative activities. Also, bookkeepers need to regularly perform bank reconciliation to identify any unusual transactions and make sure that everything is organized or categorized correctly.
Bookkeeper Job Description and Duties
Being accurate, consistent, and reducing errors are key characteristics that employers are seeking for this position. It is indispensable to have a knowledge of accounting and to understand how to use accounting software systems. In larger businesses, a bookkeeper is responsible for overseeing and reconciling hundreds, thousands of financial transactions. This is typically done with the assistance of various software systems, and for this reason, technology literacy is incredibly valuable for the profession.
Expectation from Bookkeepers:
Besides the daily accounting, bookkeepers identify discrepancies and deal with them promptly. The job of the bookkeeper is to solve problems and avoid disruptions that will adversely affect administrative workflow.
Bookkeeper Job Responsibilities:
- Maintains records of financial transactions properly, posting transactions to ERP system.
- Ensure legal requirements compliance through the following standards.
- Develop and redesign the system to account for financial transactions by establishing a chart of accounts through defining bookkeeping policies and procedures.
- Maintains subsidiary accounts by verifying and allocating transactions.
- Balances subsidiary accounts by reconciling entries.
- Maintain general ledger or chart of the account by transferring subsidiary account summaries.
- Balances general ledger by preparing a trial balance.
- Maintains historical records of each and every account by filing documents properly.
- Prepares and circulates 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.
- Contributes to team effort by accomplishing related results as needed.
- Maintain an accurate record of financial transactions
- Reconciliation of entries into the accounting system
- Recording of debits and credits
- Maintain the trial balance, by a reconciliation of general ledgers
- Account reconciliation to assert the accuracy of transactions
- Use knowledge of local laws to comply with reporting requirements
- Monitor any variances from the projected budget
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- Developing Standards,
- Analyzing Information,
- Dealing with Complexity,
- Reporting Research Results,
- Data Entry Skills,
- SFAS Rules,
- Attention to Detail,
- Basic accounting knowledge,
- Understanding accounting best practices,
- Data entry skills,
- High attention to detail.
Education, Experience, and Licensing Requirements:
- Bachelor’s degree in accounting, finance, or related field
- CPA is a plus
- Previous bookkeeping experiences add value.
- Experience in working with multiple legal entities under different legal umbrellas.
- Knowledge of IFRS, U.S GAAP, or another accounting framework
- Proficiency in Microsoft Excel
- Produce work with a high level of accuracy
- Professionalism and organization skills
- Knowledge of XERO, Quickbooks, Zoho, Fresh Books, or other applications
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