What You Need To Consider Before Choosing A Career In Bookkeeping
Bookkeeping is very important for any business, big or small, as it helps you budget, prepare for tax returns, keep your business organized, and so much more. Bookkeeping deals with the financial aspect of transactions. It helps all business owners effectively manage cash flows and plan for the future while being well informed about their operation costs, expenses, and profits. Furthermore, it helps them comply with federal and local tax agencies’ requirements.
Due to these benefits for businesses, the demand for bookkeeping is ever increasing. Getting into this profession is also simple, as there are low barriers. That said, bookkeeping shouldn’t be taken lightly as there are significant financial responsibilities involved. So, before you take up a career in this line, you need to understand what’s required to become a bookkeeper. To educate you on the requirements to be a part of this industry, Infinite Accounting Solutions has explained what you need to consider before choosing a career in bookkeeping.
Neither accounting nor bookkeeping imposes hard-and-fast educational requirements. Similarly, unlike accountants, bookkeepers aren’t required to hold a designation, and although there are regulatory bodies, it’s not a requirement to join them. Post-secondary education or equivalent on-the-job training is enough if you are able to prove that you are good with numbers and have strong attention to detail. Many aspiring bookkeepers get a foot in the door while still in school by using accounting software that offers courses and testing to show you how to apply your knowledge in the program.
Bookkeepers work with numbers all day long while handling several tasks that larger organizations split into different roles like accounts receivable, accounts payable, payroll, invoicing, etc. Therefore, you must be able to multitask. Along with the ability to crunch numbers, you will need soft skills like the ability to communicate with clients and their customers. Problem-solving skills are also a must, along with time management skills, professionalism, and good work ethics.
Earnings and opportunities for real bookkeepers
Bookkeepers often get paid hourly wages rather than annual salaries. An entry-level bookkeeping position can start at $18.00 per hour. Extra hours are very common during busy periods like tax season, and it is the perfect time to show your worth and make more money. Besides this, your wages will increase as you gain seniority, and you can even be promoted to a management level as new bookkeepers are hired all the time.
Your level of knowledge plays an equally important role in boosting your career and earnings. As a bookkeeper, you are required to know about all the accounting positions of a company like AR, AP, Payroll, etc. However, it could be tiresome having to wear so many different hats at once. Fortunately, if you enjoy numbers, are organized, and like problem-solving, then becoming a bookkeeper can be a good fit for you.
If you’re interested in a career in bookkeeping but don’t know where to look, reach out to Infinite Accounting Solutions. We provide training to new business owners, practicum students, and new staff. Our skilled practitioners will guide you through your training and career to help make your work efficient. Besides just training you, we also assess your strengths and weaknesses to help you grow and prosper on a professional level.
As a renowned bookkeeping firm located in Langley, British Columbia, we provide services across Langley, Abbotsford, Pitt Meadows, White Rock, and Surrey. Our bookkeeping solutions surpass our clients’ expectations through exemplary services. We are committed to helping you reduce your paperwork burden and take your financial planning to the next level. Our team is made up of driven experts who are dedicated to making the accounting process easier for you and ensuring you make the most of your financial opportunities. We offer services such as daily bookkeeping, payroll services, reconciliations and review, accounting software training, nonprofit accounting, and bookkeeping.