A bookkeeper ensures that he maintains tax ready financial statements and trial balance. This also means that you will save more money and maximize your tax deductions. Bank reconciliation refers to the process of comparing the financial transactions in your books of accounts against the transactions reflected in your bank statements.

In most cases, private companies do not pay more than the Big Four for young accountants with little experience. However, bookkeeping and accounting clerk jobs are expected to decline, with the BLS projecting a 5% fall in jobs over the same period. The BLS notes that job growth for accountants should track fairly closely with the broader economy.

Cons of Hiring a Bookkeeper

Department of Labor’s Occupational Handbook, some of the most in-demand accounting jobs include comptroller, accounting manager, senior tax accountant, and internal auditors. Accountants and bookkeepers work with numbers and financial data all day long. If you are interested in becoming an accountant, it may be beneficial to your career to become a certified public accountant (CPA), which has its own exam. You must have a minimum of 150 postsecondary education hours, or what amounts to a bachelor’s degree in accounting, and an additional 30 hours of graduate work. If you enjoy organization and numbers and have experience with bookkeeping, starting your own business offering this service might be a smart career choice.

Accounting automation software is used by most businesses to save time. For example, sales representatives and marketing professionals, as a small business. When your small company grows into a mid-sized accounting and bookkeeping services operation, you can hire help such as an accountant. While this person is unquestionably required, you do not want to keep them on the payroll if they aren’t sending the money into your company.