Know the Difference: Bookkeeping vs Accounting

Great accounting is the foundation for great financial strategy for all sized organizations. CFOshare provides expert accounting and bookkeeping services that are customized to the needs of your business. And while a full-charge bookkeeper will eventually supervise these roles, you’ll need to make sure you’re appropriately staffed to fill the void this promotion leaves behind. Many companies find it easier to simply outsource a full-charge bookkeeper in the interest of maintaining internal staff consistency. Outsourced bookkeeping and accounting services can also fill the talent gaps caused by promoting within. Keep these issues in mind as you consider your staffing needs and be ready for some re-adjustment as you fill your bookkeeping roles. As the company grows, so will the demands on your in-house bookkeeper.

A full charge bookkeeper performs accounting and bookkeeping duties for an organization, typically small or medium-sized businesses. The term “full charge” meansthat these bookkeepers manage all of the business’s accounting needs. A full charge bookkeeper handles typical bookkeeping responsibilities (e.g., data entry), plus additional accounting duties.

Similarities & Differences Between Accounting & Bookkeeping

Unlike standard bookkeeping which is limited to maintaining the books and basic data entry. Going full-charge means all bookkeeping, AR/AP, data systems, tax, and financial statements are prepared by one person. Someone who can handle the end-to-end accounting and bookkeeping of small business acts similarly to an accountant or a controller with a 4-year degree. They also assist management in making decisions by interpreting the balance sheet and profit and loss statements. Full charge bookkeepers require less supervision and can generally be expected to handle the majority, if not all the bookkeeping and accounting needs of a small to medium-sized business. The role of a full charge bookkeeper in a small business is more complex than that of a regular bookkeeper and carries more responsibility. A full charge bookkeeper handles all of the accounting needs of a company, including the preparation of financial statements.

• Full charge bookkeepers require less supervision and can generally be expected to handle the majority, if not all the bookkeeping and accounting needs of a small to medium-sized business.
• The position requires little physical activity, though some will findthe fast-paced environment stressful.
• Owners or management may request periodic reports from the full charge bookkeeper, such as job-cost reports or sales reports.
• The position is most commonly found in smaller organizations where there is no need for a controller, and which has relatively uncomplicated accounting transactions.

Advanced accounting software training and experience is also helpful for job seekers. Full-Charge Bookkeepers have a similar role to bookkeepers, but they carry more responsibility. These professionals usually report directly to the upper management, may supervise and train other employees, and are involved in complex business transactions. The strongest resume samples highlight solid accounting expertise, accuracy, integrity, analytical thinking, IT proficiency, and leadership.

How to become a full charge bookkeeper

Adding a full-charge full charge bookkeeper member means you may need to examine your internal bookkeeping needs and hiring goals. Glassdoor has millions of jobs plus salary information, company reviews, and interview questions from people on the inside making it easy to find a job that’s right for you. We’re now hiring a Full Charge Bookkeeper to help us keep growing. If you’re excited to be part of a winning team, XYZ Inc. is a perfect place to get ahead. The full charge bookkeeper will supervise these employees, helping to organize work flow and verifying accuracy of work. Some full charge bookkeepers in small companies wear many hats, working or supervising in areas such as purchasing, inventory and human resources. For more specific salary information, consider researching average full charge bookkeeper salaries in your area.

By using these bookkeepers, you can focus on running your business and leave the bookkeeping to someone else. Third, it can be more affordable than hiring a separate accounting staff. Many of these bookkeepers offer competitive rates for their services. 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.

What Do Full Charge Bookkeepers Do?

Full charge bookkeepers are responsible for full-cycle accounting, which requires an ability to juggle several organizational tasks at once. Their responsibilities include managing all aspects of general ledger, accounts receivable, and accounts payable, as well as handling payroll information, credit card statements, and cash flow.

• You will report directly to the owner of the organization and will engage outside CPA firm to prepare financial statements and tax returns as needed.
• Let’s review your bookkeeping needs and explore the duties of more comprehensive positions, including full-charge bookkeeping.
• Reconcile two bank accounts and five credit card accounts every month accurately.
• An entry-level Full Charge Bookkeeper with less than 1 year experience can expect to earn an average total compensation of $16.49 based on 22 salaries.
• They provide companies with a top-level view of their accounting functions.