Bookkeeping is all about preparation and maintenance of accounts of a business, nonprofit or government organization. These accounts help the organization to calculate the profit or loss for a given period. They also explain how the funds are being utilized and allow the authorities to develop a strategy to regulate the finance. The job of a bookkeeping clerk is to support the accounting staff in this pursuit.
The responsibilities of a bookkeeping clerk are to prepare specific accounts or help the accounting staff in the analysis of receipts and statements pertaining to business and bank transactions. He has to verify the accuracy of the statements and post necessary entries in the books of the organization. On a routine basis, he has to work with a lot of documents, either physical or electronic and update the accounts to the last transaction.
The bookkeeping clerk calculates various overheads such as discount on purchase and sales, agent commission, interest on accounts receivable and loans, etc.
Sometimes, a bookkeeping clerk can be asked to preform reconciliation of accounts and assist the external audit team. He also prepares and sends checks to the vendors, clients, bank, or other external parties. Alternately, he can be asked to send reminders to clients for outstanding receipts.
More details about the job of a bookkeeping clerk will help you understand and analyze this profession.
Bill Collection
The bookkeeping clerk collects bills and enters the details into the books or accounting application after verifying the bill details. He files the physical receipts for reference of other employees or departments.
Prepare, Receive, and Deposit Checks
The responsibility of preparing, receiving, and sending the checks to the bank is an important function of the bookkeeping clerk. He has to enter check details and the amount in the accounts against the account for which it is received or sent.
Reconcile Accounts
Though every care is taken by the accounting staff, some errors are always bound to be found at a later stage. This may create a ruckus during closing of accounts. The bookkeeping clerk is required to reconcile the accounts as and when there is a discrepancy in the entries or amounts.
Send Reminders
The bookkeeping clerk is required to send reminders or make calls to the clients or other parties regarding non payment of bills. He also communicates with the bank representative if a check is not cleared in due time.
Calculate Overheads and Profit/Loss
Calculation of profit and loss and various overheads such as late fine, commissions, interest on loan, etc., is an important part of the job of a bookkeeping clerk.
A bookkeeping clerk should be:
To get into the position of a bookkeeping clerk, you can opt for an associate or a bachelor's degree in accounting, bookkeeping, finance, or a closely related course. For entry level positions, a high school diploma may suffice. Previous work experience is expected for senior level and specialized positions.
A bookkeeping clerk can expect to earn an annual income of $30,000. The actual salary varies on factors such as job location, tasks assigned, experience and qualification of the applicant, etc.
This is an entry level position wherein you get hands on experience. This in turn allows you to grow further and with time, you can expect to reach higher positions provided that you keep delivering excellent results consistently.
The various job responsibilities of a bookkeeping clerk define the scope of this job and the areas where you can utilize your knowledge once you are employed.