What do Bookkeepers Actually Do?
What are bookkeepers responsible for?
Bookkeepers are responsible for providing accurate, up-to-date financial information. So this means all businesses, irrelevant of the industry, need a bookkeeper or more. They are the lifeblood of every organization.
What are bookkeepers involved with?
Because bookkeepers are responsible for accurate, updated financial information, they are involved with Business Owners and Managers. Often bookkeepers are involved with Business strategy and Business decisions.
What do Bookkeepers actually do?
Bookkeepers look after and oversee a company’s financial data and compliance. This means managing and maintaining accurate books on accounts payable and receivable, payroll and daily financial entries and reconciliations. Daily tasks such as monthly financial reporting, general ledger entries and record payments and adjustments.
Bookkeepers handle many of the daily financial tasks of a business, from preparing bank deposits, to verifying receipts, sending payments, payroll, company purchases, invoices and overdue accounts.
Bookkeeping’s basic 4 steps:
- Analysing financial transactions and assigning them to specific account.
- Writing original journal entries that credit and debit the appropriate accounts
- Posting entries to ledger accounts
- Adjusting entries at the end of each accounting period
A typical day in the life of a Bookkeeper
You will need good communication skills to talk to customers, clients, service providers, colleagues and/or employee’s under your guidance. Bookkeepers are often involved in meetings to discuss reports about finances of the business. Communication is via meetings, calls, letters and emails.
Lots of analytical administration is required to keep track of all the financial activity in the business.
What skills does typical Bookkeepers need?
- You really must like working with numbers!
- Need to be an organized individual.
- Time management is so important as the world of finance is fixed with lots of daily, weekly, monthly and yearly deadlines.
- Attention to detail with data.
- Technology savvy
- Good, confident communication skills
- Analytical with a problem solving approach
- Integrity and honesty is pivotal to this career path
- And of course a Bookkeeping qualification.
Where and how can you study Bookkeeping?
You can study Bookkeeping with us, the ICB. We are an Independent External Examination Body for Accredited Business Qualifications in Southern Africa since 1931, focusing on Financial Accounting, Business Management and Office Administration.
Our role is to create pathways for students to obtain valuable business studies skills for employment that are endorsed by credible Business Qualifications.
As an appointed Quality Assurance Partner for QCTO (Quality Council for Trades and Occupations), we are authorized to conduct examinations on a number of Registered Qualifications that are on the NQF (National Qualifications Framework).
All our training providers are accredited colleges who are registered with DHET (Department of Higher Education and Training). These colleges offer anything from accounting courses and bookkeeping courses to business management courses.
Download the ICB Prospectus here to see the different programmes which is available to you.
What is the progression from a Bookkeeper?
There are many routes to follow and potential job titles and career paths.
Financial Accountant, Accountant, Accounting Technician, Accounts Clerk Taxation Clerk, Payroll Clerk, Cost Clerk, Office administration, Business Management to name a few. Have a look at the full ICB Financial Accounting Programme here.
Can Bookkeepers work from home?
You definately can. Have a look at this article where we discuss this.
Wondering how much you can earn when you are a Bookkeeper, read here. And if you wondered how long it will take you to become a qualified Bookkeeper, read here.
Where to from here?
Are you looking for a career path with good opportunity for employment?
Are you looking for a Career path with good promotional opportunity in the future?
Are you analytical, have high levels of integrity and prepared to apply yourself and study further?
Then ICB is your partner to walk the journey with. Why be employable when you can be indispensable. ICB is the way!
Don’t wait another day, register with us today!