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While bookkeeping has changed with technology, the basic concept is the same.
Understanding the craft, categorizing, and balancing numbers is exciting.
Being a bookkeeper is a necessary part of any business and gives you a feeling of satisfaction in this role.
Problem-solving and being detail-oriented are necessary skills in bookkeeping.
These tendencies will make you an invaluable employee to any employer.
Continuing education is always a good idea to fine-tune updated bookkeeping software and regulation changes.
Article Table of Contents
Pros of Being a Bookkeeper
1. Dependable Income
Accounting, including bookkeeping positions, is always needed.
A continued increase in this skill will be favorable over the next 7 years.
Bookkeepers leaving their positions due to retirement, better opportunities, and personal changes leave the door wide open for new hires to step in.
New businesses rely heavily on accounting specialists to keep their financial records and goals on target.
Providing excellent work to your employer will guarantee your future role and a dependable income.
2. Remote and Online Flexibility
More and more companies are hiring remote and online bookkeepers.
With information available online, the work can be done off-site.
Both employees and contract individuals can be used in this capacity.
This feature relieves companies from providing office space and gives employees more flexibility in their workday.
3. In-Demand Skill
Not everyone loves numbers and the precision of placing them in the correct categories.
This skill is projected to increase by 7% over the next 3 years, not considering retirements, employee moves, and new ventures.
Good bookkeepers are few and far between.
No company will want you to leave if you can do your job well.
Turnover is not huge in this line of work; scoring the right job can give you a long-term position.
4. Minimal Schooling
It is not necessary to have an accounting degree to work as a bookkeeper.
Starting as an administrative assistant without formal training can give you an on-the-job opportunity to hone your skills.
However, a high school average in business studies, math, economics, or equivalent qualifications could also be helpful.
Finding a school that offers a course on a Certificate of Bookkeeping can save you time and money in a career you could be interested in.
It does not take a degree in accounting to determine if bookkeeping is a good fit for you.
A course in bookkeeping or accounting is always welcome on a resume, and a certificate can be completed in 6 months to a year.
5. Room for Advancement
Proving your skills as a bookkeeper often leads to advancement and higher pay.
Overseeing new clerical help and editing paperwork for errors can make you invaluable.
Bookkeepers frequently have various office duties in addition to crunching figures.
Accepting the additional workload with grace constantly sheds a positive outlook on superiors.
Adding years to your current bookkeeping position almost always comes with regular raises and bonuses.
6. Wide Choice of Industries
No industry cannot benefit from having a competent bookkeeper.
From servicing and manufacturing to medical and technical, precise bookkeeping is a needed area in finance for all employers.
Many options are available if you have a particular passion for the service industry.
Understanding each company may require study and research, but the rewards are worth the extra time.
For instance, being a bookkeeper for an eyewear retail shop can involve different types of insurance, grades of frames, and lens additives.
Each industry will have specific jargon and categories to learn.
7. Good Pay
According to ZipRecruiter, bookkeepers made an average of $24.31 per hour as of November 2024.
This is the national average in the United States, with specific areas having higher or lower salaries.
Cons of Being a Bookkeeper
1. High Pressure During Busy Seasons
Being a bookkeeper is not always smooth sailing.
Some businesses have peak seasons where work picks up dramatically.
For example, a fertilizer company can sell most of their product in the spring and fall.
This can strain on keeping orders straight, hiring extra employees, and keeping all the numbers in order.
The business hours may be increased to keep up with demand.
However, the work has to be done accurately, making work more stressful.
The swings from high pressure to slow times may not be what you are ready for.
However, slow times can give you ample time to check on errors you would not otherwise have time for.
2. Being Responsible for Financial Accuracy
Cash flow accuracy and properly prepared corporate reports aid the CEO in making critical decisions about the company’s future.
Not only do all figures need to be balanced, but they must also be placed in the correct category.
Getting a debit and credit to balance is easy.
However, if a figure is placed as an expense instead of against an account receivable, problems will occur.
Customer accounts can be affected, and an audit will place a disparaging finger at you.
While mistakes do happen, bookkeepers must be willing to accept the blame and strive to do better in the future.
3. Initial Training of Industry-Related Software
There are different software systems.
Some are specifically geared toward a company’s related industry; even software is designed outside standard bookkeeping options.
The fuel industry has special software designed for the hundreds of fuels created from a pipeline.
You may feel savvy in QuickBooks and ZipBooks, but the study is far from over.
Spending initial training on the use of industry-related software may be necessary.
Seeking to learn the ins and outs of a particular industry will set you apart from other bookkeepers in your desire to learn and deliver.
4. Keeping Up-to-date on Financial Regulations
Compliance standards protect a company from legal issues and prevent clients’ information from leaking to the wrong individuals.
They consist of rules and policies established nationally to keep businesses on the right side of the law.
Uncovering illegal activities during an audit is more challenging without these safeguards.
Records that will be scrutinized during a compliance audit include:
- Financial Records
- Data Security
- Human Resources
- Payroll
- Management Standards
5. Economic Fluctuations
The country doesn’t always flow as expected.
When economic woes begin to turn downward, it can impact any job.
Bookkeeping is not immune to fluctuations in the economy’s ups and downs.
Cutting hours is not an uncommon factor in a slowing climate.
While these interrupted times may happen, they almost always turn around.
However, being prepared for an abrupt stop in wages may be expected.
6. Repetition in Duties
Many tasks can seem repetitious and boring once you get the hang of your bookkeeping job.
This only means you have become accustomed to your job duties and can handle the workload.
Every job can become mundane as skills improve.
Whether you can sustain the repetition of duties will prove your desire to go with the flow.
Pros and Cons of Being a Bookkeeper – Summary Table
| Pros of Being a Bookkeeper | Cons of Being a Bookkeeper |
|---|---|
| 1. Dependable Income | 1. High Pressure During Busy Seasons |
| 2. Remote and Online Flexibility | 2. Being Responsible for Financial Accuracy |
| 3. In-Demand Skill | 3. Initial Training of Industry-Related Software |
| 4. Minimal Schooling | 4. Keeping Up-to-date on Financial Regulations |
| 5. Room for Advancement | 5. Economic Fluctuations |
| 6. Wide Choice of Industries | 6. Repetition in Duties |
| 7. Good Pay |
Should You Become a Bookkeeper?
Most bookkeepers have a sense of curiosity and problem-solving tendencies.
Chasing that penny or solving a banking transaction or financial report question may appeal to your curiosity.
Only those who find pleasure in chasing down numerical problems are qualified to join the ranks of bookkeepers.
This can easily be determined by entering a school to advance in bookkeeping knowledge.
Many prominent schools can help you take the first steps in your career journey to becoming a bookkeeper.
Understanding the various aspects of a bookkeeping job can be best understood by taking a course in bookkeeping as a career.
A bookkeeper career diploma is a great start in determining whether this career is right for you.
This type of course can provide you with the following:
Explain financial statements with attention to detail,
List employment opportunities in many industries, including firms that provide accounting, bookkeeping, and payroll services; federal, state, and local governments; and schools.
Demonstrate basic math and computer skills, including knowledge of spreadsheets.
Describe how to become certified in bookkeeping by being able to carry out all bookkeeping tasks.
Apply proper procedures for controlling an organization’s financial documentation and guard against misappropriating its funds.
Describe using accounting software to record, store, and analyze information.
Apply proper procedures for receiving and recording cash, checks, and vouchers in compliance with federal, state, and company policies, procedures, and regulations.
Create financial reports using QuickBooks online to complete bookkeeping tasks, ensure accuracy in receiving and recording payments, handle banking transactions, and monitor business accounts.
Bookkeeping is not a career for everyone.
However, possessing the qualities found in the bookkeeping courses and trade could make a long-term career for you.