In terms of hiring potential, there is little difference between the two designations. Both are nationally recognized and well-regarded by accounting professionals. As of 2021, approximately 1.7 million people worked as bookkeeping, accounting, or auditing clerks. The BLS expects the field to have a 5 percent decline in growth from 2021 to 2031. Still, you should see 197,600 job openings each year over the next decade [3]. As a bookkeeper, you will verify and balance receipts, keep track of cash drawers, and check sales records.

What Do Bookkeepers Do?

You will need to deal with discrepancies in financial reports, reconcile expenses, and manage multiple conflicting deadlines at once. Bookkeepers deal with a ton of different things daily, and there are skills that predispose people to success. Here are some traits that are essential to be a successful bookkeeper. A bookkeeper is in charge of a lot of different things when it comes to a business’s accounting activity. A bookkeeper may keep track of spending, handle payroll, ensure compliance with state and federal regulation, reconcile payment discrepancies, and more. Bookkeeping allows people to work from their homes and maintain flexible work hours.

• It is not uncommon for an experienced bookkeeper to make a career transition into accounting or another profession.
• The upside is that your education and training tell potential clients that you have an industry-standard education.
• Regardless of whether you are pursuing credentials through AIPB or NACPB, your supervisor or a former employer must validate your experience hours.
• The course equips you with the confidence to target a minimum of $60 for your hourly rate.
• Though having a two-year or four-year degree isn’t always required to be hired as a bookkeeper, some companies may prefer candidates who do.

Pathways to a bookkeeping career

A bookkeeper records the day-to-day financial transactions of a business, whereas an accountant looks at the bigger picture based on these journal entries. As a service provider or a freelancer, you can earn more than the average full-time bookkeeper. The key to commanding a higher rate is to provide the value your clients need.

FAQs to Is Bookkeeping Hard

• Get started by signing up for the Intuit Bookkeeping Certification program today.
• As a detail-oriented professional, you would play a crucial role in the organization and growth of companies from small businesses to major corporations.
• For instance, you may decide to pursue additional licenses or certifications.
• You can learn bookkeeping for free and at a low cost through online courses.

It usually takes about six months of practice to get the hang of it. Bookkeepers are administrators first and foremost and are responsible for updating and maintaining financial transactions and reports. Accountants, how hard is it to be a bookkeeper on the other hand, are more like financial strategists. An accountant is the one to help the business owner make sense of their numbers, generate financial documents, and plan for the upcoming tax period.

As more people move to working from home, freelancing, or starting their own businesses, you may want to learn how to become a virtual bookkeeper. A virtual bookkeeper must meet the same educational requirements as an in-house or in-person bookkeeper. Therefore, you should consider the education opportunities discussed above. Therefore, there are often opportunities opening up for in-house bookkeepers, remote bookkeepers, or freelance bookkeepers. Bookkeeping can be a great side hustle if you’re good at it and enjoy the work.

What’s The Difference Between Bookkeeping vs. Accounting?

• Two of the most common are single-entry bookkeeping and double-entry bookkeeping.
• As a bookkeeper, and especially if you run your own business, you don’t have a boss who tells you what to do.
• This is a great way to gain real-world experience as you become a bookkeeper and, potentially, a bookkeeping business owner.
• Explore programs of your interests with the high-quality standards and flexibility you need to take your career to the next level.

After my role as a staff accountant, I moved to a financial analyst position and then to a controller position, all at larger publicly traded companies. I gained a ton of experience and enjoyed the journey, but I knew something was missing. I needed a way to be innovative and wanted to build something, and that just wasn’t possible in the roles I had.

This is a very high salary for a bookkeeper, so you will not get there until you are a seasoned professional. Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below. As long as you have a passion for learning, upskill yourself regularly, and show interest in sorting out finances, I promise, bookkeeping isn’t going to be a big hurdle for you. If you want to expand your side hustle, bookkeeping can easily be turned into a full-time business. Bookkeeping is the right career choice for you if you have great attention to detail, are reliable and trustworthy as well as organized and disciplined. Your company might promote you if you stand out in your role as a bookkeeper.

Get Your Degree

• For example, business owners must be diligent about keeping personal and business finances separate.
• Some days will be harder than others and there will be challenges you have to face.
• Your Intuit Certified Bookkeeping Professional badge can be used to show any employer or client that you have an understanding of bookkeeping and accounting.
• Look for potential clients on career websites that cater to remote bookkeeping jobs.
• Managing the general ledger is part of your daily responsibilities as a bookkeeper.
• The information that your clients give you is extremely important, and they want to know that you are handling it properly.

In Marketing Management and a background in digital marketing for healthcare, nonprofit, and higher education organizations. Moreover, both the CB and CPB credentials are respected in the bookkeeping field and can help you stand out to employers. You’ll receive instructions via email about how to best prepare and set up your test-taking environment at home, a local library or another place with an internet connection. To score discounted fees, consider becoming a member of the organization of your choosing before registering for any courses and exams.