Bookkeepers are an important part of the economical and financial body of an organization. As such, they play great roles in the rising and falling of a company’s finance. So, if your question is how important a bookkeeper is, you would be getting “very important” as an answer. But you probably want to know how much you can make as a salary if you are a bookkeeper, which is also important, considering that it is a career choice for many people. let us know about that the Salaries For Bookkeeper.
Bookkeepers earn uniquely in different countries or states, but the difference in the earnings is not so far apart. In two states or countries, bookkeepers’ earning difference might be just $10 to $50. However, some high-paid bookkeepers earn a few thousand dollars different from the regular bookkeepers. In the US, bookkeepers earn about $50,000 a year and in the UK, they earn about £25,000, which might be enough for some people and too small for others.
This article will educate you on the job of a bookkeeper and the difference it has with a fully charged bookkeeper. Also, you will learn if bookkeepers are currently in high demand and the salaries of bookkeepers. If you want to learn all these and more about freelance bookkeeping, continue reading this article to the end.
Who is a bookkeeper?
As the name implies, a bookkeeper is someone who keeps books, but here, they keep financial books. This job is a lot different from the job of an accountant who deals with analyzing the account of the company’s finance. However, a bookkeeper does more of the organizing of the financial books and safe-keeping them. Your job as a bookkeeper is to enter financial data.
Majorly, a bookkeeper holds and keeps financial information of the organization they work for. He has to make sure the information is correct, up to date, and safe for delivery whenever it gets needed. While some bookkeepers go as far as creating business strategies for their organizations, others just keep the books. The few that keep the books hand them to the organization’s business strategist for effective use.
What is the difference between a bookkeeper and a fully charged bookkeeper?
A bookkeeper is a regular day-to-day financial data keeper and enterer who earn a basic salary and charged bookkeeper does more and earns more. As a fully charged bookkeeper, you have the job of controlling the finance of the organization you work for. You will do the regular bookkeeping job and even do more.
You will organize balance ledgers, monthly statements, returns of tax for inspection, and a couple of other things. Organizations don’t just hire any bookkeeper to be a full charge bookkeeper even if they are in high demand than the conventional job. You need more experience and professionalism on the job to get hired.
Are bookkeepers in high demand?
As important as a bookkeeping job is, the demand for it has been experiencing a slow drop and hardly any rise has gotten recorded. From 2020 to date, the demand for bookkeepers has dropped by 3% and it is still looking to drop more, given future statistics. AI has been designed to do some of these jobs and certain apps make that easily possible.
Today a small business can get a bookkeeping app to store all its financial data till it needs it. With this down path the job is taking, there are still major openings for it every year. Every year we record over 100 thousand job openings for bookkeepers around the world. This is the minimum considered amount of vacancy record for bookkeepers. However, in a few years, these vacancies will reduce to 50 thousand annually and gradually take a huge fall.
How much does a bookkeeper earn?
Bookkeepers are important for the growth of a company and they get a balanced pay for their availability and job well-done. The profession is not as tasking as many other offices in an organization, so they are in the median earners’ group No one country has the same salary tag for bookkeepers. However, the earning difference between bookkeepers in separate countries might be about $10 to $50.
This payment rate could be affected by currency differences or it could just be about the states’ economical differences. The estimated average salary a bookkeeper should get is $45,000 to $50,000 annually, but this ranges differently in other states. So, there is no fixed annual salary for bookkeepers.
Currently, in the US, bookkeepers earn $50,000 every year and in the UK, they earn £25,000. New York City pays her bookkeepers about $49,800 yearly and in Florida, bookkeepers get paid about $19.7 for every working hour. You can add that up to get their earnings in a day, a month, and a year. But, a full-charge bookkeeper earns double what a regular bookkeeper earns.
Is freelance bookkeeping better than onsite bookkeeping?
Onsite bookkeeping is when you are working for one organization and you report to the office every other day to resume duty. While freelance bookkeeping is when you don’t have an onsite office in any of the companies you work for. This means you can work for as many companies as you want, as long as you don’t decline your job or deliver a poor job. This means more earnings for you and more stress too.
When you work as an onsite bookkeeper, you don’t have the privilege to juggle other bookkeeping jobs. This happens because you will dedicate all your time and intellectual resources to one company. As a freelance bookkeeper, you get the chance to do other personal businesses if you have plans to stop working for people in the nearest future.
Conclusion
A bookkeeper is a very important part of an organization. They keep a record of the financial data of the company.
The average estimated pay a bookkeeper can get as an annual salary is $45,000 to $50,000. However, this figure is separate in different countries. Also, freelance bookkeepers make more money than onsite bookkeepers.
