In the intricate world of small and medium-sized businesses, a full-charge bookkeeper assumes a pivotal role, wielding more responsibilities and handling a more intricate portfolio than a regular bookkeeper. This is particularly prevalent in businesses that, due to their size or nature, do not necessitate the services of an accountant or controller commonly found in larger enterprises.
The Role of a Full-Charge Bookkeeper
A full-charge bookkeeper shoulders the comprehensive accounting needs of a company, from crafting financial statements to overseeing the general ledger. Collaboration with an external CPA firm is a norm, especially during the year-end preparations of financial statements and tax returns. Direct reporting to the owner or the highest echelons of authority underscores the importance and strategic nature of this role.
Qualifications for a Full-Charge Bookkeeper
While a high school diploma serves as the minimum educational requirement, some organizations seek additional certifications or degrees. A bachelor’s or associate’s degree may be requested, with certain entities recognizing certifications like the ‘Certified Bookkeeper designation’ from the American Institute of Professional Bookkeepers.
Advanced accounting software proficiency and a blend of certification with further education are often prerequisites for candidates eyeing this role.
Responsibilities Unveiled
1. Bookkeeping Expertise:
A full charge bookkeeper adeptly manages all accounting and bookkeeping duties. From supervising and running payroll checks to billing clients, preparing bank deposits, and handling monthly and quarterly tax returns, this professional ensures the seamless flow of financial operations.
2. Crafting Financial Statements:
At the close of each month, a full charge bookkeeper is instrumental in preparing vital financial statements such as income statements and balance sheets. Depending on organizational needs, they may also generate statements of owner’s equity or cash-flow statements.
3. Supervisory Functions:
In smaller enterprises, the full charge bookkeeper takes on supervisory roles encompassing employees, purchases, human resources, and inventory management. Their organizational prowess extends to optimizing workflows and verifying the accuracy of work, sometimes even managing financial reporting independently.
4. General Ledger Mastery:
Distinguishing themselves from regular bookkeepers, full charge bookkeepers delve deep into the general ledger. Their responsibilities encompass the preparation and entry of all journal entries, especially for accounts like depreciation and fixed assets.
Unlocking Business Potential
For Precision Accounting and Taxation, the inclusion of a full charge bookkeeper promises not just financial stewardship but a strategic partner in navigating the complexities of modern accounting. Embracing a holistic approach, these professionals contribute significantly to the growth and success of businesses, embodying the precision that defines our commitment to excellence.
