If the world of numbers, precision, and organization intrigues you, consider a career in bookkeeping.
A bookkeeper is a professional who maintains and updates the accounting records for a business. Their specific tasks may include logging expenses, accounts payable, and accounts receivable. They may complete payroll, and prepare reports, statements, and invoices. Additionally, bookkeepers may report profits and losses to their managers or the business owners as well as handle cash deposits and petty cash. Depending on the size of the business, bookkeepers might be involved in office management duties as well.
Should You Become a Bookkeeper?
Bookkeepers need to be highly organized and meticulous so that they can understand all of the accounts and related financial records of a business while adhering to the strict accounting rules and guidelines. If you are thinking of a career in bookkeeping, below are some pros and cons to help you with your decision.
- Quick entrance: Almost every business needs professionals who can prepare financial records properly and accurately. Because you can theoretically start performing bookkeeping tasks with just a high school diploma, it is easier and faster to enter this profession than others. However, formal training to study bookkeeping will give you an advantage against your competition, but even then you can complete your studies in less a year.
- Growth industry: According to the United States Bureau of Labor Statistics, the bookkeeping profession is slated to increase by 14% through to the year 2020. This is great news for those who want to study bookkeeping for an entry-level position or wanting to advance to greater responsibilities.
- Change it up: Small businesses, large organizations, insurance, health, technical, retail – bookkeepers are essential to the financial well-being of all sorts of businesses. This means you can find opportunity and variety in the type of employment and the tasks that you will perform.
- Moving up: With the necessary education and relevant experience, bookkeepers can easily advance in their careers, such as supervising other bookkeepers and staff, opening their own business, obtaining professional certifications, or even becoming an accountant. It is also a great way to start in the finance industry and combine it with business management expertise.
Cons of a Bookkeeping Career
- Scheduling: During peak periods such as tax season, month-end, and holidays, bookkeepers often need to work very long hours which requires dedication, perseverance, and sacrifice of your personal time.
- Pressure: With tight deadlines, the need for accuracy, and long hours during busy times, being a bookkeeper can mean more stress than some other professions.
- Competition: Finding work might be relatively easy in this field, but for entry-level positions, it may only be part-time work to start. Bookkeepers can face much competition, particularly for full-time employment.
The Bottom Line
For the right candidate, the field of bookkeeping can be a superb career choice. If you are seeking quality education to study bookkeeping, consider Southern Careers Institute or other comparable school. With qualified instructors, a clear focus on the skills you need, and practical experience, you can enjoy a wealth of opportunities in this growing and fascinating field.