The word of business would not be able to function properly without auditing. Auditors, or bookkeepers, are needed in almost all types of business in almost all kinds of industries. If you decide to be a bookkeeper, you can find jobs in corporate businesses, government organizations, accounting firms, and a lot more. To be a bookkeeper, you should at least have a keen interest in finance for you to be able to enjoy your job. You should also be computer literate as you would be doing your reports on a computer.
Your job would basically involve managing the finances of your employer. You would be creating reports as to how the financial aspect of their business is doing. You would be reconciling accounting records by updating them. You would also be responsible for maintaining and tracking the businesses’ accounts, what accounts get payment and give out payment and what costs have the business incurred in a particular time period.
Your record-keeping duties would be carried out by using the computer. You would be utilizing certain programs to help you calculate and record all the data. The extent of your work would vary, depending on the industry and size of business of your employer. When you work with just a small business or organization, you would be tracking accounts, recording transactions, preparing financial statements, be in charge of payroll, etc.
You should expect to get more complicated tasks when you’re working for a large business. You would also probably get accounting clerks to help you out. Their job would be to provide you with transaction details, calculate cost charges, maintain accounts, etc. A clerk with more experience may be assigned to work with billing, document coding, etc. Even more experience clerks would be able to help you by taking care of accounting files and printouts. Having accounting clerks would help you get more things done in a shorter span of time, which is what large businesses need.
The Bureau of Labor Statistics reported that the average bookkeeper salary is around $35,000 on a yearly basis. This means that you can get an average bookkeeper salary of $16 on an hourly basis. The higher earning bookkeepers get an average of $50,000 on a yearly basis. The lower earning bookkeepers get an average of $21,000 on a yearly basis.
Bookkeeper Wage by Industry
As with any other job, your bookkeeper income would depend on the industry that you are working in. Some industries pay more than the average and some pay less. Bank bookkeepers are reported to get the highest bookkeeper wage, at an average of $42,000 on a yearly basis. The depository credit intermediation industry provides a bookkeeper income of around $33,000 on a yearly basis. The monetary industry pays their bookkeepers around $38,000 on a yearly basis.
The BLS has reported that employment for bookkeepers, auditors and accounting clerks would increase by 10 percent from 2008 to 2018. This is because it is expected that a lot of business would be put up during that period. More businesses would mean more demand for bookkeepers. Since the demand would increase, the salary for bookkeepers is also expected to increase or at least be stable for the next few years.