What Is Full-Charge Bookkeeping? Everything You Need to Know Bookkeeping Services Made For Entrepreneurs

They will wear multiple hats, especially if your business doesn’t have a demanding accounting department. Even more, you will cull loyalty to your venture by offering expansion into a controller position. The full charge bookkeeper is literally in charge of the accounting department offering a direct line to money matters for the C-suite. Additionally, they charge the highest salary compared to regular bookkeepers.

The role is most often found in small to midsize companies that don’t need an accountant or controller. This style of bookkeeping is most often found in small to midsize companies. Full charge bookkeeping handles all of the accounting needs of a company. Unlike standard bookkeeping which is limited to maintaining the books and basic data entry.

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The main difference lies in the scope of responsibilities and expertise. While regular bookkeepers handle daily tasks under supervision, full-charge bookkeepers often operate independently, taking on additional accounting duties that affect the company’s bottom line. They have a more comprehensive understanding of the bookkeeping role, allowing them to support or even lead the current bookkeeping staff with less experienced members. We are looking to hire an experienced full charge bookkeeper to handle our company’s accounts. In this role you will be responsible for managing the full cycle of accounting duties for the company. This includes entering vendor and expense invoices, billing customers, preparing bank statements, processing timesheets, and preparing tax returns.

• The bookkeeper may also run a cash-flow statement and a statement of owner’s equity, depending on the needs and structure of the company.
• For success in this role, you should also have strong communication, organization, and attention to detail skills.
• Most companies prefer that full charge bookkeepers combine advanced education or certification with experience in the field.
• Also, the formal education requirements are higher for an accountant, and they need to hold a bachelor’s degree in accounting or finances at least.
• They perform a month-end closing, running a trial balance to verify that the general ledger isn’t off.
• Taxes are incredibly complex, so we may not have been able to answer your question in the article.

For success in this role, you should also have strong communication, organization, and attention to detail skills. Download our free checklist to help you partner with the right provider. Opinions expressed on the pages of this website belong to the author and do not represent the views of companies whose products and services are being reviewed. To get one, you’ll have to have at least two years of professional experience in the field and pass the exam.

Full Charge Bookkeepers vs. In-House Bookkeepers

Some full charge bookkeepers in small companies wear many hats, working or supervising in areas such as purchasing, inventory and human resources. The pay range is generally from $15.04 to $30.27 per hour, depending on their experience and reliability. A full charge bookkeeper’s pay rate can also go higher for hourly freelance work versus guaranteed weekly or monthly salaries. A freelance full charge bookkeeper can quote a fee that follows the industry standards, flexible, of course, based on the scope of the work. Increase your desired income on your desired schedule by using Taxfyle’s platform to pick up tax filing, consultation, and bookkeeping jobs.

Full-charge bookkeepers actively participate in decision-making processes and provide business owners and managers with valuable financial insights. They generate financial reports and statements, permitting business owners to make informed alternatives based on accurate financial data. An in-house bookkeeper may not be involved in higher-degree financial evaluation or decision-making. The general ledger is the central repository of an organization’s financial data. However, mistakes or omissions may additionally occur during regular statistics entry procedures. Full-charge bookkeepers play a crucial role in making general ledger changes to correct inaccuracies, ensuring the accurate reflection of monetary transactions, and holding the integrity of financial records.

Ecommerce Accounting 101: Navigating Tax Compliance and Financial Reporting

These insights aid business owners and stakeholders make informed decisions and strategic choices. Most companies prefer full charge bookkeepers with a combination of education, experience in the field, and advanced accounting software training. Since full-charge bookkeepers act as accountant-controllers, they handle the full cycle of accounting duties or supervise clerks in basic processing tasks. It involves comparing an organization’s financial records with the corresponding bank statements to identify and resolve discrepancies. By ensuring the accuracy of financial data, full-charge bookkeepers provide business owners and management with a clear view of the organization’s financial position and cash flow.

If they work as an independent contractor they usually earn more for their services. Before they can practice professionally, full charge bookkeepers are required to obtain certification from a recognized institution. US institutions that can provide these include the American Institute of Professional Bookkeepers, the National Association of Certified Public Bookkeepers, and other educational or career institutions.