How Much Do Bookkeepers Make?
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Bookkeeping, accounting, or auditing clerks are financial record keepers. They will update and keep accounting records, such as those which calculate expenditures, receipts, accounts payable and receivable, and profit and loss. These types of employees have got a wide range of abilities from full-charge book keepers, who can maintain a whole company's books, to accounting clerks who handle particular jobs. All these clerks make numerous computations every day and must be secure utilizing computer systems to compute and record data. In small organizations, bookkeepers and bookkeeping clerks usually have responsibility for some or all of the accounts, referred to as the general ledger. They record all transactions and post debits (expenses) and credits (income). They in addition produce financial statements and put together reports and summaries for supervisors and managers. Bookkeepers prepare bank deposits by putting together data from cashiers, verifying and balancing receipts, and sending cash, checks, or other types of payment to the bank. Moreover, they might handle payroll, make purchases, prepare invoices, and maintain track of overdue accounts.
In huge companies, accounting clerks have a lot more specialized tasks. Their titles, like accounts payable clerk or accounts receivable clerk, frequently reflect the sort of accounting they do. In addition, their responsibilities differ by degree of experience. Entry-level accounting clerks post particulars of transactions, total accounts, and compute interest charges. They also may monitor loans and accounts to ensure that payments are up to date. Much more advanced accounting clerks may total, balance, and reconcile billing vouchers; ensure the completeness and accuracy of data on accounts; and code documents based on company procedures. Most bookkeeping, accounting, and auditing clerks are required to have a high school degree at a minimum. However, having some postsecondary education is increasingly essential and an associate degree in business or accounting is required for some positions. Although a bachelor's degree is rarely needed, graduates may accept bookkeeping, accounting, and auditing clerk positions to get into a certain company or to enter the accounting or finance field with the hope of ultimately being promoted.
Once hired, bookkeeping, accounting, and auditing clerks usually obtain on-the-job training. Under the guidance of a supervisor or another experienced employee, new clerks understand organization procedures. Some formal classroom coaching also may possibly be necessary, such as training in specialized personal computer software.
Employment estimate and mean wage estimates for this occupation:
Percentile wage estimates for this occupation:
Industry profile for this occupation:
Industries with the highest published employment and wages for this occupation are provided.
Industries with the highest levels of employment in this occupation:
|Industry||Employment||Hourly mean wage||Annual mean wage|
|Accounting, Tax Preparation, Bookkeeping, and Payroll Services||100,630||$16.71||$34,760|
|Management of Companies and Enterprises||81,810||$17.54||$36,490|
|Local Government (OES Designation)||72,460||$17.54||$36,470|
|Depository Credit Intermediation||52,810||$16.10||$33,490|
|Elementary and Secondary Schools||40,980||$17.34||$36,070|
Bookkeeping is to be understood in the context of a business. It is simply the recording of financial transactions. Transactions include purchases, sales, receipts and payments by an individual or organization. Bookkeeping is usually performed by a bookkeeper. Many individuals mistakenly consider bookkeeping and accounting to be the same thing. This confusion is understandable because the accounting process includes the bookkeeping function, but is just one part of the accounting process. The accountant creates reports from the recorded financial transactions recorded by the bookkeeper and files forms with government agencies. There are some common methods of bookkeeping such as the single-entry bookkeeping system and the double-entry bookkeeping system. But while these systems may be seen as "real" bookkeeping, any process that involves the recording of financial transactions is a bookkeeping process. How much do bookkeepers make depends on location and education, as well as, experience.