A full charge bookkeeper is a professional who manages all the financial records of a small to medium-sized business. This includes, but is not limited to, managing accounts payable and receivable, payroll, bank reconciliations, ledger entries, monthly and year-end closings, and financial statement preparation. The “full charge” aspect refers to the fact that these bookkeepers have full responsibility for the company’s accounting processes. They should also prepare financial statements, maintain the ledger, and perform all the other bookkeeping services.
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Pros and Cons of Being a Full Charge Bookkeeper
By doing so, you’ll ensure profitable growth for any company and prevent financial setbacks before they happen. You’ll need some experience and knowledge in accounting before you can succeed in this role. Several organizations offer accreditation for bookkeepers, so be sure to do your research and find one that’s right for you. Not to mention, a full charge bookkeeper is responsible for all aspects of the accounting duties and can make decisions on their own. An accountant typically reports to someone else within a business, such as the CEO or CFO.
It offers flexibility, accessibility, and real-time financial data, making it an attractive option for many businesses. When it comes to small business bookkeeping, the role of a full charge bookkeeper must be balanced. Many small businesses operate on thin margins, and the financial acumen provided by a full charge bookkeeper can often make the difference between success and failure. John, as a Full Charge Bookkeeper, has taken over the complete management of GreenTech’s financial affairs. This allows Laura to focus on growing the business, knowing that its financial records are in capable and reliable hands.
Full Charge Bookkeeper
However, as they are not certified public accountants, the company would often need to consult a certified public accountant for external audits and tax returns. Larger companies sometimes have the assistance of an outside certified public accountant to review and audit more complicated financial statements and tax returns. If the company grows to the size of a corporation, the full charge bookkeepers’ duties are shifted to a controller. As the term ‘full charge’ implies, a full charge bookkeeper takes on various tasks. They manage an organization’s bookkeeping needs, from recording financial transactions, processing invoices and payroll, reconciling bank statements, and preparing financial statements.
Among various bookkeeping methods, one that has gained significant traction in recent years is full charge bookkeeping. When it comes to hiring a full charge QuickBooks bookkeeper for your business, it’s important to find the right fit. You’ll also want to consider their communication skills, as you’ll be working closely with them to manage your finances. Don’t be afraid to ask for references or to conduct a thorough interview process to ensure that you find the best candidate for the job. With the right full charge bookkeeper on your team, you can take your business to the next level.
A Day in the Life of a Full Charge Bookkeeper
When needed, you can hire a certified public accountant to coordinate with an FC bookkeeper and help with audits and tax returns. Knowing what is included in full charge bookkeeping services makes you aware that a degree, skills, and certifications sometimes aren’t enough. Due to the higher level of responsibilities that FC bookkeepers have, some employers insist that candidates have prior bookkeeping and accounting experience. They will perform tax-related and payroll tasks, coordinate tasks with certified public accountants, and prepare information for auditing purposes. More complicated roles tend to require more training, so you’ll need to source candidates carefully. Some companies find their own in-house bookkeepers can fill the role with a little extra training.
- Time and effort applied to any skillset will begin to flourish into a self-sustainable ability.
- By taking care of these tasks, a full charge bookkeeper can help you stay organized and financially stable, allowing you to focus on growing your business.
- Online bookkeeping services, like Books and Balances, offer the added advantage of convenience.
- For example, A corporation with more than one location will likely have its books kept at each branch separately by bookkeepers.
- If the company grows to the size of a corporation, the full charge bookkeepers’ duties are shifted to a controller.