Financial management is the key to success in running a business. However, It can be  challenging if you are handling other essential tasks of your company. As a business owner you will be doing a lot more tasks other than financial management.

The solution?

You need a full-time bookkeeper who will manage this task for you. While traditional bookkeepers might be responsible for certain tasks, this professional manages the entire financial landscape of your company.

From tracking transactions to providing informative reports, full-charge bookkeepers are responsible for keeping the financial health of a company in check. They can help the business owner make an informed decision.

To understand the role of full charge bookkeeper, let’s take a closer look at their responsibilities, required skills, and experiences. 

Who is a Full-Charge Bookkeeper?

A full charge bookkeeper is a financial professional who oversees and manages all the financial records of a company. That includes accounts payable, receivable, payroll, billing, and invoicing, and even help with the audits.

Full-charge bookkeepers are much needed in small to medium-sized companies. Bigger firms usually have a dedicated department for bookkeeping and accounting. 

Since they handle almost everything, they charge a higher salary as well.

Responsibilities of a Full-Charge Bookkeeper

A full-charge bookkeeper has to perform more tasks than a traditional one. Their duties may include:   

• Data entry.
• Handling payments and invoices.
• Accounts receivable and payable.
• Monitor cash flow.
• Bank account reconciliation.
• Control petty cash.
• Prepare a tax return.
• Coordinate with CPA
• Make financial reports.
• Manage payroll.
• Handle complex accounting tasks.
• Manage ledger entries.
• Calculate the cost of running a business.
• Keep track of fixed assets.
• Oversee and manage junior bookkeepers. 

Education and Qualifications

To be a full-charge bookkeeper, one needs at least a high school degree to start their career. To be a better bookkeeper, getting a bachelor’s degree in accounting or finance is also recommended. But there are many bookkeepers who started to work as junior bookkeepers and worked their way up. 

However, a bookkeeper with professional certification is highly valued. CPB (Certified Public Bookkeeper), or Quickbook ProAdvisor certification will add extra credentials. They can also pursue Certifications credentials like CPA (Certified Public Accountant) to upgrade the career option.

Required Skills to Be a Full-Charge Bookkeeper

A full-charge bookkeeper requires a lot more skills than a traditional one, as they will handle the entire financial scenario of a company. To be a good full-charge bookkeeper, you need to know about accounting and bookkeeping software, strong organizational skills, team management skills, attention to details, effective communication skills, and many more.

Most employers look for a bookkeeper who has extensive knowledge in accounting, financial statements, accounts payable, general ledger, tax, reconciling, invoicing, and account receivables. These are the core skills needed to be a bookkeeper. Apart from that, non-accounting skills like communication, customer service, vendor management, and MS Excel are also important. 

Being accurate and paying attention to detail is very necessary because a single error can cause an imbalance in financial statements. The ability to handle work pressure, tight deadlines, and effective communication is much needed. They also need to operate bookkeeping software like Quickbooks, Zipbooks, and Xero. 

Why Do You Need a full-charge bookkeeper?

For a small or medium business Full-time bookkeepers are an essential part. You need them in your business because: 

• Total Financial Management: A full-charge bookkeeper manages everything of a business’s financial transactions, including accounts payable, accounts receivable, payroll, and tax filings. This guarantees that your financial records are precise and current.
• Cost-effective: It can be quite expensive to have a full team of bookkeepers. So having a single, full-charge bookkeeper is cost-effective in that sense. 
• Tax preparation: You won’t need to worry about taxes when the tax season comes. They will handle it and prepare a tax return beforehand. 
• Bank reconciliation: They regularly check and identify mistakes in your bank accounts and keep track of income and expenses. They also manage petty cash flow, all bank deposits, credits, and accounts. 
• Preparing financial reports- Bookkeeper will prepare financial reports and statements for you to understand how your business is going on and help you to make better decisions. 

Business growth: If your business is flourishing and it is getting harder for you to maintain its bookkeeping, then you most certainly need a full-charge bookkeeper.