A bookkeeping, accounting, or auditing clerk career requires a high level of detail and numerical ability. Depending on the type of organization, bookkeepers and accountants may work for small businesses or as part of a larger department. In general, a high school diploma and education in business and accounting are required. While experience in similar jobs is desirable, it is not essential. Expertise in specialized software is a plus.
These workers will see a rise in employment over the next decade. However, the number of available jobs is expected to decrease over the same period. According to Bureau of Labor Statistics, this occupation will experience a decrease of 4% over the next decade. Automation will result in a slowing of employment growth. The projected employment growth for this occupation, however, is not as strong as those for other positions.
Education and training for bookkeeping, accounting, and auditing clerks is typically postsecondary. Many positions require accounting coursework, though some candidates may be hired with a high school diploma. Bookkeeping, accounting, or auditing clerks gain most of their experience in the workplace after they have completed training. Double-entry bookkeeping is something that new clerks are taught. This involves entering each transaction twice so that the account balances. After completing their training and education, some bookkeeping, auditing, and accounting clerks can continue their education to become accountants.
Education and training requirements for bookkeeping and accounting clerks are the same. However, there are additional requirements for some positions. Some jobs require college courses, such as accounting, and a certificate or degree in accounting. Other clerks can train on the job or take voluntary exams in order to prove their knowledge and skills. These clerks need to be familiar with specialized software. There are differences between the types and levels of training offered to bookkeeping and auditing clerks.
Bookskeeping and auditing clerks often have to keep financial records. They maintain financial records, prepare reports, and keep track of company transactions. They might also manage payroll, prepare invoices and track past due accounts. The job description for a bookkeeping clerk can be very similar. However, the job responsibilities of an accountant will vary depending on the type of business and company. A business can benefit from a clerk who is proficient in computers.
Bookkeepers should keep up-to-date with technological developments. Many large businesses have automated their finance and accounting functions. However, this is too expensive for small business, which are typically defined by the Small Business Administration. Short term, bookkeeping clerks and auditors will remain in high demand. The best candidates for this job will be those who are passionate about the field. The industry's future is bright.
A bookkeeping and auditing clerk's duties depend on their experience. Entry-level clerks may monitor accounts and monitor their balances while more advanced accounting clerks may enter data into computerized records and analyze data for errors. As part of their job duties, they may also make phone calls or send letters. The salary of a bookkeeping clerk will depend on their level of experience. These clerks can work in small or large businesses and often spend many hours in the same office.
FAQ
What's the difference between accounting & bookkeeping?
Accounting is the study and analysis of financial transactions. Bookkeeping is the recording of those transactions.
The two are related but separate activities.
Accounting deals primarily using numbers, while bookskeeping deals primarily dealing with people.
To report on the financial health of an organization, bookkeepers must keep track of financial information.
They ensure all books balance by correcting entries in accounts payable and accounts receivable.
Accountants examine financial statements in order to determine whether they conform with generally accepted accounting practices (GAAP).
If not, they may recommend changes to GAAP.
So that accountants can analyze the data, bookkeepers keep records about financial transactions.
What does it mean to reconcile accounts?
A reconciliation is the comparison of two sets. One set is called "source" and the other the "reconciled."
The source is made up of actual figures. The reconciliation represents the figure that should actually be used.
For example, suppose someone owes $50 but you only get $50. You would subtract $50 from $100 to reconcile the situation.
This ensures that there are no accounting errors.
What is accounting's purpose?
Accounting provides a view of financial performance by measuring and recording transactions, analyzing them, and reporting on them. Accounting allows organizations to make informed decisions about how much money they have available to invest, how much they can expect to earn from operations and whether additional capital is needed.
Accountants keep track of transactions to provide information about financial activities.
The organization can use the collected data to plan its future strategy and budget.
It is important that the data you provide be accurate and reliable.
Statistics
- In fact, a TD Bank survey polled over 500 U.S. small business owners discovered that bookkeeping is their most hated, with the next most hated task falling a whopping 24% behind. (kpmgspark.com)
- BooksTime makes sure your numbers are 100% accurate (bookstime.com)
- Given that over 40% of people in this career field have earned a bachelor's degree, we're listing a bachelor's degree in accounting as step one so you can be competitive in the job market. (yourfreecareertest.com)
- a little over 40% of accountants have earned a bachelor's degree. (yourfreecareertest.com)
- "Durham Technical Community College reported that the most difficult part of their job was not maintaining financial records, which accounted for 50 percent of their time. (kpmgspark.com)
External Links
How To
How to do Accounting for Small Business
Accounting is an essential part of managing any business. This includes tracking income and expenses, preparing financial statements, and paying taxes. Quickbooks Online and other software programs are required. There are many options for accounting small businesses. You have to decide which method is best for you based on your specific needs. Below we have listed some of the top methods for you to consider.
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The paper accounting method is recommended. If you want to keep things simple, then using paper accounting may work well for you. This method is very simple. You simply need to record transactions every day. If you are looking to ensure that your records are accurate and complete, you may want to consider QuickBooks Online.
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Online accounting is a great option. Online accounting is a way to have easy access to your accounts no matter where you are. Wave Systems, Freshbooks, Xero and Freshbooks are some of the most popular options. These software programs allow you to manage finances, pay bills, generate reports, send invoices, and more. These software are simple to use and offer many great benefits and features. So if you want to save time and money when it comes to accounting, you should definitely try out these programs.
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Use cloud accounting. Another option is cloud accounting. It allows you secure storage of your data on a remote server. When compared to traditional accounting systems, cloud accounting has several advantages. First, it does not require you to buy expensive hardware or software. You have better security since all your information can be accessed remotely. It saves you the hassle of backing up your data. It makes it easy to share files with others.
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Use bookkeeping software. Bookkeeping software is similar with cloud accounting. However you must purchase a computer in order to install the software. After installing the software, you will be able to connect to the internet so that you can access your accounts whenever you want. In addition, you will be able to view your accounts and balance sheets directly through your PC.
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Use spreadsheets. Spreadsheets are used to enter your financial transactions manually. One example is a spreadsheet you can use to track your daily sales. A spreadsheet has the advantage of being able to modify them whenever you wish without needing a complete update.
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Use a cash book. A cashbook is a ledger where you write down every transaction that you perform. There are many sizes and shapes of cashbooks, depending on the space available. Either keep a separate notebook each month, or you can use one notebook that covers multiple months.
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Use a check register. You can use a check register as a tool to help you organize receipts or payments. Simply scan your items into your scanner to transfer them to the check register. Once there, you can add notes to help you remember what was purchased later.
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Use a journal. A journal is a logbook which keeps track of your expenses. This is a good option if you have lots of recurring expenses like rent and insurance.
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Use a diary. A diary is simply something you keep track of and that you can write in your own words. It can be used to track your spending habits and plan your finances.