The full-charge bookkeeper is responsible for all accounting activities within the small business. If you enjoy financial topics and bookkeeping activities, we encourage you to consider this career. Full-charge bookkeeping positions take more responsibility than regular bookkeeping and allow you to assess whether these roles match your professional interests and needs. This article describes full-charge bookkeeping, its obligations, and how it differs from internal bookkeeping.
What is Full Charge Bookkeeping?
A Full Charge Bookkeeper performs the accounting and bookkeeping duties of an organization, usually a small business. The term “full charge” means that these bookkeepers control all the accounting needs of the business. In addition to the general task of maintaining a business ledger, these bookkeepers prepare financial statements and tax returns, record complex transactions, and process timesheets and payroll. In large organizations, an accountant or administrator performs some of these tasks.
As a result, full-time bookkeepers have more responsibility and usually report directly to senior management, such as business owners and presidents. It may also coordinate operations with external professionals such as certified public accountants (CPA) and oversee accounting personnel.
What does a full-charge bookkeeper do?
A full-charge bookkeeper working in a small or medium-sized organization is responsible for both the regular bookkeeper and the accountant or manager. duties linked with this role includes:
- Accounts payable and accounts receivable management
- Cash, bank account, revenue adjustment
- Maintain an accurate general ledger and adjust as needed
- Create journals for all accounts, including fixed assets
- Monitor business cash flow
- Issuing invoices to customers and collecting payments from customers
- Preparation of tax returns and monthly and quarterly financial statements
- Remittance of salary, income, sales tax, usage tax
- Employee timesheet processing and salary management
- Supervision of accounting staff such as payroll staff, billing staff, and accounts payable staff
- Collect information for audit purposes
What is the average salary of a full-charge bookkeeper?
The average national salary for a full-charge bookkeeper is $20.57 per hour. Some salaries range from $15.04 to $30.27 per hour. The salary of a full-charge bookkeeper depends on the individual’s level of experience, location, and place of employment. Freelance workers can set prices according to industry standards and the range of tasks they perform.
Full-charge bookkeeper and in-house bookkeeper
Full-charge bookkeepers and in-house bookkeepers play similar roles, but there are significant differences. The following categories can be used as examples of how to compare these two professions.
An internal bookkeeper represents an internal employee who performs the organization’s bookkeeping activities, rather than outsourced employment. As some regular bookkeepers, they do normal or basic bookkeeping activities. They are usually not responsible and may work within the accounting team of the organization. An accountant with the “full charge” designation takes full responsibility for the accounting activities of his or her organization. This title represents a more advanced role than a regular internal accountant due to its additional responsibilities. Businesses can hire fully employed accountants as full-time employees or outsource them. In some cases, a company may provide training resources to existing internal accountants to enable them to take on full-fledged accounting responsibilities.
A regular Tax Lien internal accountant is responsible for recording a company’s financial incoming and outgoing transactions. Their typical activities may include creating financial reports, processing paystub and payroll, and managing customer or customer invoices. and managing customer or customer invoices. A full-fledged accountant also performs these activities, along with the activities typically conducted by accountants or controllers for larger organizations. They may also have multiple management responsibilities, such as overseeing a team of staff members or working directly with a company’s senior management or board of directors.
The minimum requirement to become a regular bookkeeper is a high school diploma or equivalent. Some employers may hire candidates with no bookkeeping experience and provide on-the-job training to understand their role responsibilities. This training may include learning about bookkeeping practices and procedures that companies prefer, as well as how to use certain bookkeeping software. Some employees hire a fully charged bookkeeper with similar qualifications. However, candidates for this role often prefer to have at least an associate or bachelor’s degree in a relevant field. Due to the high level of responsibility associated with full-charge bookkeeping, employers appreciate that these candidates may have more years of experience or deep knowledge of finance and accounting. .. Bookkeepers in both full-charge and regular roles can also obtain certification to demonstrate their expertise and skills.