Is Bookkeeping Certification Worth It? Salary And Job Growth

Learners are advised to conduct additional research to ensure that courses and other credentials pursued meet their personal, professional, and financial goals. Certifications aren’t necessary to become a bookkeeper but can signal to employers that you have the training and knowledge to meet industry standards. After you have a few years of experience, you can earn the Certified Bookkeeper designation from the American Institute of Professional Bookkeepers by passing a series of exams. The overall best bookkeeping software includes Zoho Books, FreshBooks, Xero, and Intuit QuickBooks. Learn more about the best bookkeeping software for small businesses.

How To Find a Bookkeeper

Organizations can promote bookkeepers to accounting manager or analyst roles. Bookkeepers assist with maintaining records and analyzing companies’ financial health. Professionals may perform multiple tasks, including record-keeping, cash flow management, and payroll.

What is the best bookkeeping software for small businesses?

If you’re organized and enjoy working with numbers, a job as a bookkeeper could be a good fit. Here’s what you can do to gain the skills necessary to get started. According to the US Bureau of Labor Statistics (BLS), the median salary for bookkeepers in the US is $45,860 per year as of 2021 [1]. You can sometimes choose between full-time and part-time positions, and you may go to work in an office or work from home. Learn more about what bookkeepers do and how to get started in this career.

Bookkeeping Certification Education and Cost

It often involves completing a bookkeeping-intensive curriculum and may also require passing an exam and continuing to take ongoing courses to keep relevant skills sharp. Entry-level employees can start as a bookkeeper to gain accounting experience, learn inventory tracking systems, and understand the flow of large volume transactions. Professionals with relevant experience can pursue roles as a manufacturing accounting analyst or manager. Typically, single entry bookkeeping is suitable for keeping track of cash, taxable income, and tax deductible expenses.

What’s more, a bookkeeping certification will help you hone your skills and provide more in-depth job training. This also provides a competitive advantage for bookkeepers beginning their careers. Earning a bookkeeping certification involves weeks of studying, hours of test preparation and a significant financial investment. Additionally, maintaining a bookkeeping certification from NACPB or AIPB requires continuing professional development. Both AIPB and NACPB require previous bookkeeping experience to qualify for their courses. Proper bookkeeping gives companies a reliable measure of their performance.

What Does a Bookkeeper Do?

One important thing to note here is that many people who intend to start a new business sometimes overlook the importance of matters such as keeping records of every penny spent. Depending on the certificate or certification program you complete, you may be required to recertify regularly to keep your credential. Recertification can ensure that you have mastered the latest bookkeeping skills, techniques, approaches, and technologies.

• One important thing to note here is that many people who intend to start a new business sometimes overlook the importance of matters such as keeping records of every penny spent.
• Successful bookkeepers may gain a sense of accomplishment from helping a company maintain accurate records, forecast cash flows, and complete financial reports.
• A bookkeeping certification can yield a high return on investment, depending on a few factors.
• Bookkeepers working in this sector should understand relevant regulations and lease agreements.

• It involves tracking income, expenses, assets, liabilities, and equity.
• If you work in a competitive job market, certification can give you a leg up when discussing salary potential with prospective employers.
• Demonstrating a high level of proficiency can reassure employers that you’re equipped to take on greater responsibility, significantly raising your earning potential.
• Once you’ve chosen a program, complete the coursework or training material.
• Additionally, monitor your outstanding bills (accounts payable) and pay them on time to maintain good relationships with suppliers, avoid late fees, and manage your business’s credit rating.
• Bookkeepers ensure that every financial transaction is accurately recorded in the business’s books, keeping an organized system to track financial activities.

While bookkeeping and accounting are closely related and often used interchangeably, they serve different purposes in managing a business’s finances. Understanding the distinction between the two is crucial for small business owners. Regardless of which bookkeeping certification you pursue, we recommend taking a preparatory course.

This aligns with the School’s commitment to providing education beyond traditional classroom boundaries. Ultimately, students emerge from the program equipped with enhanced collaboration abilities, professionalism, and a deeper understanding of diversity. Think of bookkeeping as the detailed management of your business finances. Whether you’re making a sale, paying bills, or transferring money between bank accounts, bookkeeping keeps track of every financial move.

It’s a way to show your skill set to potential employers and others in your professional network. You can earn a bookkeeping certification through a college, a university or an accredited professional program. Lauren Colson is a numbers geek with over 13 years of financial experience. From large publicly https://www.bookstime.com/articles/bookkeeping-and-payroll-services traded companies to high-growth startups, these industries cultivated her passion. Now the owner of Colson Strategies, Lauren’s rockstar team provides accounting and finance services ranging from bookkeeping to CFO. They take the «scary» out of your finances so you can focus on what matters most.

• You can teach yourself bookkeeping in different ways (this guide gives you a solid start).
• Ultimately, your circumstance determines whether a bookkeeping certification would be worth it for you.
• To renew your certification, you must complete continuing coursework, attend professional development programs and take part in training workshops.
• Accounting is for trained professionals who can give a fuller summary of your company’s financial realities.
• A bookkeeping certification is an official demonstration of a person’s bookkeeping skills.
• Bookkeeping is the process of recording all your business’s financial transactions systematically.

It also provides information to make general strategic decisions and a benchmark for its revenue and income goals. In short, once a business is up and running, spending extra time and money on maintaining proper records is critical. The American Institute of Professional Bookkeepers reports that graduates of its Certified Bookkeeper program have experienced career advancement. In-house bookkeepers have secured new jobs, professional bookkeeping service promotions, and raises, while freelance bookkeepers have gained new clients, raised their rates, and used certification status for promoting their services [3]. These often take a few weeks to a few months to complete, and cover fundamental knowledge and skills so you can get started in the field. In this article, you’ll learn more about what bookkeepers do, why they’re important to a business, and how much they earn.