Learning double entry bookkeeping is like learning to swim

Both offer rewarding career paths; it’s simply a case of which one suits you best. A virtual bookkeeper completes the majority of assigned tasks through computerized bookkeeping software. Through these means, a bookkeeper can review and update financial statements, post financial transactions, and reconcile accounts.

• This course will teach you the fundamentals of Sage, Quickbooks and Xero Bookkeeping software, as well as AAT Level 2 training.
• Bookkeeping will be a good endeavor if you are interested in numbers, detail, and organization.
• Bookkeeping helps increase your knowledge of the financial process, allowing you to take on more responsibilities and giving you a chance at a better post and better pay.
• Find out what it’s like to be a bookkeeper and see the job roles you’ll be qualified for.
• She’s committed to sustainability and helping environmentally conscious businesses grow and provides net-zero training and advice to bookkeepers and accountants.

They could even balance their extended trial balance and produce a simple Balance Sheet and P&L Account. They knew they were going to be accountants when they got that warm rush of satisfaction when it all balanced. Their non-accountant friends decided that they were simply sad or odd or both and stopped asking “How was work today” in case they got a lesson on the joys of double entry bookkeeping. Bookkeeping can often be very time-consuming task which often distracts business owners from the day-to-day running of their business. Our support services are uniquely personal to each student giving them the best opportunity for exam and career success. Having additional skills opens a lot of opportunities for you professionally.

The benefits of becoming a virtual bookkeeper

The Association of Accounting Technicians (AAT) has a range of bookkeeping qualifications, with the highest certificate allowing the bookkeeper to use the AATQB letters after their name. Once you’ve achieved that level, you can apply to become an AAT licensed bookkeeper so you’re licensed to offer services. Despite the shift from paper to electronic records, data entry is still a key competency for bookkeepers. Popular software like Sage, QuickBooks and Xero have made it much quicker and easier for bookkeepers to keep accurate records.

Bookkeeping is a versatile career path that keeps you on your toes. Over time it’s likely that your role will change to suit the needs of the business. Ultimately, working from home means you can freelance as a virtual bookkeeper, or you can start your own business. Managing your own business gives you even more potential income and opportunity for freedom, flexibility, and family. If the data is kept on physical copies these should be stored in lockable cupboards and another hard copy should be kept off-site.

ICB Level 4 Certificate – Corporation Tax Returns (FRS105 + FRS102 (Section 1A)

Hiring a certified bookkeeper should ensure that the books are kept up to date and give the business owner time back. As a virtual bookkeeper, you can work on your schedule from anywhere you choose, even from home. That level of flexibility allows the kind of work-life balance that is hard to find in other career fields. Virtual bookkeeping means you can work with clients globally, expanding your job-seeking opportunities. The bookkeeping career is a lucrative one, with UK salaries averaging between £25,000 – 38,000.

• Here at Oxbridge, we offer everything you need to flourish, grow and become a fully-qualified and certified ICB Bookkeeper.
• If you work for a bookkeeping firm, you will be covered under their certification and so there is no cost to you personally and you don’t need to be supervised if you are an employee.
• I trained as an auditor with top 20 accounting practices in the UK and worked in numerous roles before joining Fusion in 2013.
• We have many bookkeepers reach out to us because they start a job and feel lost because they have not been shown how to apply that knowledge in a working environment.
• They often need a candidate who at least has the basic knowledge of the package they are using.
• If the prospect of a career in bookkeeping excites you, start your journey today with an online course.

You don’t have to just choose one specialism – you can get a few under your belt, and really experience the varied career options accounting opens up for you. Accounting does require a particular set of skills and abilities, as well as attention to detail and accuracy, but it doesn’t have to be any harder than any other career opportunity. For example, we recommend that you prioritise your most important tasks. With this technique, you’ll have a clear idea of any upcoming deadlines. You can even take things one step further and add these tasks to your calendar to ensure you have enough time to work on them. Now we’re not saying that you need to be a mathematical genius.

Is accounting hard?

And while many people enjoy the challenge of juggling all of their own finances; bookkeeping can be a difficult task to manage on your own. If you’re a sole trader, it’s worth considering getting some help from us with your books. Bookkeeping is the first part of the accounting process, so the work of a bookkeeper and accountant often overlaps. Bookkeeping focuses on recording and organising financial data, while accounting is the interpretation and presentation of that data.

If you’re a sole trader, it’s best to outsource bookkeeping to a professional. Doing it yourself, bookkeeping is time consuming and difficult to manage, but outsourcing the task will save you money in the long run. Outsourcing bookkeeping doesn’t have to be expensive either – there are plenty of packages available to suit every client. When you do your own bookkeeping, it’s important to keep detailed records of your expenses.

What does the future look like for bookkeepers?

Bookkeeping, one of the first and standard finance practices, has been around for a long time, making it one of the pioneer finance processes. Due to its stability and longevity, bookkeeping promises better opportunities and provides job security, as it is guaranteed not to fizzle over time, no matter what trends come and go. Bookkeeping is the practice of properly recording financial transactions.

From there, you can obtain a job telecommuting as a bookkeeper, which enables you to work flexible hours, giving you more time during the day to spend on household work and family. Helping with Financial Management
A qualified bookkeeper should support a business owner throughout the year by not only keeping accurate records but also providing decent management reports. Management reports are a valuable tool for a business owner to stay in touch with their cash https://grindsuccess.com/bookkeeping-for-startups/ flow, identify areas where overheads could be reduced and make informed financial decisions. Saving Time 
Running a business is time consuming and it can be quite hard fitting in everything that needs to be done including the bookkeeping. When business owners do their own bookkeeping it is probably left to the last minute, done late at night or at the weekend. The bookkeeping is also probably not up to a standard that an accountant can easily work with.

Courses

The accountant then takes that information and creates a report that interprets it for the business. That report is then used by the company to make critical business decisions. Accurate recording of figures and the relaying of the numbers onto the ledgers or into the computer programme is key to the job of bookkeeper. The hard skills you need to be a brilliant bookkeeper are, among other things, to have an understanding of numbers and an eye for detail. You will need to learn or hone your natural talents for accurate record keeping.

For instance, with free API access, you can build an integration between your billing system and Xero. We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Over the past 30 years, we have helped thousands of candidates in getting the practical skills and secure the jobs in accountant sector. We use the latest Cloud Accounting packages to ensure that your books are kept up to date and accessible on any device.