Bookkeeping Salary, Certifications and Career Outlook

It’s a way to show your skill set to potential employers and others in your professional network. You can earn a bookkeeping certification through a college, a university or an accredited https://accountingcoaching.online/ professional program. Without bookkeeping, accountants would be unable to successfully provide business owners with the insight they need to make informed financial decisions.

Then they create a second entry to classify the transaction on the appropriate account. Accounting is the umbrella term for all processes related to recording a business’s financial transactions, whereas bookkeeping is an integral part of the accounting process. Bookkeeping is the process of tracking and recording a business’s financial transactions. These business activities are recorded based on the company’s accounting principles and supporting documentation. If you’re interested in becoming a QuickBooks Live bookkeeper, Intuit can provide you with the tools necessary to learn bookkeeping and accounting skills and get certified.

Accounting software

You can earn certification from the National Association of Certified Public Bookkeepers (NACPB) and the American Institute of Professional Bookkeepers (AIPB). The NACPB offers a certified public bookkeeper (CPB) certification, while the CPB offers a certified bookkeeper (CB) certification. Both the CPB and CB certifications require similar eligibility requirements.

  • It’s a key component of the accounting process and can be done as frequently as daily, weekly or monthly.
  • Modern accounting software is the repository of all financial transactions for your company and can generate requisite reports in real-time.
  • Certifications aren’t necessary to become a bookkeeper but can signal to employers that you have the training and knowledge to meet industry standards.
  • Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development.

The advent of accounting software significantly lessened the tediousness of bookkeeping by handling debits and credits for you in the background. And technologies like optical character recognition (OCR) and bank feeds have come just short of fully automating the traditional bookkeeping process. Data entry can now happen as soon as you snap a photo of a receipt with your smartphone. And reconciliations happen almost in real time through daily bank feed maintenance, making the end-of-month closing process a snap. Now one bookkeeper can manage the bookkeeping for several businesses in fewer than eight hours a day.

What a bookkeeper can do for your small business

A business must have bookkeeping processes and policies that keep company records up-to-date and accurate. For example, business owners must be diligent about keeping personal and business finances separate. In addition, smaller businesses may use single-entry bookkeeping, while larger businesses are more likely to use double-entry bookkeeping. As a bookkeeper, you may need to help the business learn the best practices to keep their financial records up to date and organized. In these programs, you can learn accounting principles, accounting software, payroll, how to prepare financial statements, and more.

What is the difference between accounting and bookkeeping?

As more people move to working from home, freelancing, or starting their own businesses, you may want to learn how to become a virtual bookkeeper. A virtual bookkeeper must meet the same educational requirements as an in-house or in-person bookkeeper. Therefore, you should consider the education opportunities discussed above. When you feel you https://www.wave-accounting.net/ have enough education, you can begin applying for jobs or start your own bookkeeping business. You will need to learn how to start a bookkeeping business in your location, such as how to file for a license if you choose to have an in-person office. Then, kickstart your bookkeeping career by signing up for an  Intuit Bookkeeping Certification.

Take courses or complete a professional certificate.

Get started by signing up for the Intuit Bookkeeping Certification program today. You may be able to get on-the-job training through a bookkeeping job that only requires a high school diploma, such as an internship or training placement. You may also pursue certification programs or use online courses to become a self-taught bookkeeper. Bookkeepers are not required to have certifications or specific education unless required by a specific employer. However, completing a bookkeeping certification program can teach you basic accounting and how to perform bookkeeping tasks and has the potential to set you apart from other bookkeepers.

For small businesses

At the same time, the number of predicted bookkeeping job openings per year over that period is 197,600. Compare this to the expected 136,400 annual openings for accountants and auditors (BLS, September 2022). Aspiring bookkeepers don’t need work experience to apply for entry-level roles. Detail-oriented individuals who enjoy https://accounting-services.net/ problem-solving, math, and computers may want to become bookkeepers. The Bureau of Labor Statistics (BLS) projects that jobs for bookkeepers, accountants, and auditing clerks will decline by 5% from 2021 to 2031. However, the profession will still add 197,600 openings annually to fill roles held by retirees or job changers.

How to Become a Virtual Bookkeeper

Ask for testimonials from people who have utilized your services in the past and spread the word about your offerings through a website or social media. While they seem similar at first glance, bookkeeping and accounting are two very different mediums. Bookkeeping serves as more of a preliminary function through the straightforward recording and organizing of financial information.

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