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Nonprofit bookkeeping also maintains a core focus on accountability by tracking where money goes and how it is used. For-profit businesses, on the other hand, use bookkeeping and accounting techniques to help maximize profits within an accounting period. To learn more about us or enroll in one of the expert programs we offer at Universal Accounting Center® click below to contact us. Adam Syvock, Academic Coach – Adam works with students regarding questions about curriculum and real-world accounting situations.
Bookkeepers serve on the front lines of a person, company or organization’s financial health. Strong bookkeepers set up, deploy and manage systems that record the flow of funds into and out professional bookkeeper of an entity’s coffers. Using reporting tools and systems, bookkeepers help individuals and operational managers stay aware of and improve an entity’s financial status and performance.
What do bookkeepers do?
Occasionally, your course may be supported by a team of industry experts. This course is open enrollment, so you can register and start the course whenever you are ready.
It also offers a payroll certification, which requires additional education. Staying on top of your finances is a key part of being a successful small business owner. Your financial data must be current and accurate so you have the tools you need to make sound business decisions and implement healthy cash flow strategies. Most people think the bookkeeping industry neither has, nor offers, any form of professional standards. Since most small businesses are not aware of professional bookkeeping standards or certification they don’t seek out a bookkeeper who is certified. According to the BLS, most bookkeepers work for professional services firms; retail and wholesale businesses; and finance, insurance, and healthcare providers. However, remote work opportunities have become increasingly available since the COVID-19 pandemic.
Committed to Ongoing Education and Growth as a Bookkeeper
Many employers hiring or promoting advanced bookkeepers prefer those who have bookkeeping certifications in one or more area, so it’s a good idea to pass the exam for specialized expertise. This shows prospective employers you are not only an expert in your area but also are willing to go the extra mile to be a proficient bookkeeper. You can also use national certifications to promote yourself as a freelance bookkeeper and start your own business or company offering accounting services. As a bookkeeper, your attention to detail must be almost preternatural. Careless mistakes that seem inconsequential at the time can lead to bigger, costlier, more time-consuming problems down the road. Rarely does a bookkeeper work on one big project for an eight-hour shift; instead, a typical workday involves juggling five or six smaller jobs. Nearly all bookkeeping is done using computerized accounting software and programs, so bookkeepers should be comfortable learning new technology if not proficient in it.
But you don’t have to worry about some things like creating your financial reports. Here are a few things to look for in a professional bookkeeper. People often confuse bookkeepers and accountants—and with good reason. While there are certain similarities and overlaps between the two, there are distinctions that set these two roles apart. Bookkeepers don’t necessarily need higher education in order to work in their field while accountants can be more specialized in their training. Because bookkeepers tend to work for smaller companies, they may not be paid as much as accountants. Knowing the differences between the two can help people find their niche in the industry and can give guidance to companies on who to hire for their needs.