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The core aim and the reason of existence of many businesses is to make a profit. The profits need to be calculated and then recorded for future references and also to help the business come up with an effective business plan. There arises the need for accurate and proficient bookkeeping, considering how vital this is for the progress of the business. Any hitch in the recording and accounting process can very possibly spell doom for all investments and the business. Hiring a certified bookkeeper for the job then becomes an acute need for the business. They will be tasked with the job of maintaining accurate accounting and financial records with the ease of retrieval.
Every company has a list of minimum requirement or qualifications they use when hiring a certified bookkeeper. However, the most common qualities that any company will be on the look out for include;
- Experience: Most companies require a bookkeeper with previous bookkeeping experience, especially with a chartered accountancy firm. This way, the employer will be confident that they are onboarding a qualified personnel. The experience also goes hand in hand with the job description. A bookkeeper should also possess the relevant knowledge and certificates in accountancy, business administration and CPA qualifications are usually required. Proficiency with Excel, accounting software like QuickBooks is always an added advantage.
- Communication Skill: Since the bookkeeper in most cases is required to make several trips to the clients, government offices and official missions, communication skills are considered. Effective communication entails the ability of the bookkeeper to persuade clients, especially considering that the bookkeeper will be a financial representative of the company.
The main work of a bookkeeper is to deal with financial transactions and recording of the same. The recording entails making ledgers, documenting cash sales, creating invoices for clients, and in some cases, coming up with a rough draft of the budget. From the cash and debts, the bookkeeper creates reports, compiles records and then documents the same information. Moreover, the information needs to be liable and accurate.
In most cases, bookkeeping services are billed by the hour. It is additionally impossible to state a fixed amount of range for this service because the fee will vary depending on the firm, as well as the qualifications and experience of the bookkeeper. Plainly put, a certified bookkeeper with ten years previous experience from a number of organizations will charge more because they can perform more complicated tasks taking much longer periods as compared to a junior member with lesser qualifications in the same company. Predominantly, the cost of hiring a certified bookkeeper is as follows;
- A certified bookkeeper with previous experience on a contract basis can charge between $30 and $40 an hour.
- If the bookkeeper hired is a freelancer, rates will mostly be $10 - $15 above the normal rate.- Companies that have minimum bookkeeping requirements can pay a minimum monthly charge of $100 - $150.
Organizing of financial records cuts down on costs incurred on losses of finances and information of references. Therefore, it is advisable to organize financial records, ledgers, books of accounts, balance sheets and cash receipts.
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