What Is Full-Charge Bookkeeping? Everything You Need to Know Simple Accounting Software For Entrepreneurs

Bookkeeping entails the task of monitoring and recording finances, while accounting involves the compilation and analysis of account-related information. Therefore, as your business grows and its finances get more complex, switching to a full-charge bookkeeper should come naturally. That’s why this is the ideal option for mid to large-size growing companies that can https://www.bookstime.com/ afford to take this step. In some organizations, full charge bookkeepers may also handle additional administrative or HR-related tasks, such as processing new hires or handling benefits administration. Accountants are responsible for using the financial data organized by the bookkeeper to create forecasts and budgets for the purpose of advising senior management.

Get more advice on establishing better accounting and bookkeeping practices with our free guide below. Paro’s AI-powered platform optimizes talent matching, speeds up processes and unlocks data-driven insights to solve immediate and long-term business challenges like never before. Determine the background and level of expertise required to address your needs. Again, it is important to assess your current overhead spend to determine if a full-time hire is needed right now. Now, let’s take a look at full charge bookkeeper vs. bookkeeper job descriptions and compare them. This website is using a security service to protect itself from online attacks.

Full Charge Bookkeeping

The business owner can access their financial data anytime, anywhere, keeping them up-to-date with their financial status. This convenience and accessibility are particularly important for small businesses that require flexibility. They maintain complete and up-to-date detailed accounts and manage all the fundamental bookkeeping duties, such as ledger entries, financial statement preparations, and payroll. Full charge bookkeepers often manage the entire cycle of accounting functions. Full charge bookkeeping encompasses all of the bookkeeping needs of a business.

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. At a certain point, most small business owners find the additional staff can supplement their workforce in important ways. Let’s review your bookkeeping needs and explore the duties of more comprehensive positions, including full-charge bookkeeping. Therefore, the responsibilities of a full-charge bookkeeper do not encompass all the duties of an accountant. Additionally, accountants have higher formal education requirements, typically holding a bachelor’s degree in accounting or finance, at the very least.

Responsibilities of Bookkeeper

A full charge bookkeeper is someone who can handle end-to-end accounting tasks for a business. Focused on future strategy, not just historic numbers, we help small to mid-sized businesses and startups reduce financial risk and grow. You get access to our consistent what is a full charge bookkeeper team of experts — priced by the hour, so you only pay for what you need. We’re collaborative, explaining what the numbers mean, rather than just emailing reports. As a business owner, you will want to leverage talent and strategic hires to foster growth.

However, as the business grows, so do the bookkeeping needs, which is why you should consider stepping up your bookkeeping game. Today we will explain what is full-charge bookkeeping and how you can benefit from it. A full-charge bookkeeper is the same as a bookkeeper, except that the “full charge” part of the title designates the person as being solely responsible for accounting. This means that the full charge bookkeeper reports straight to a senior manager, such as the president, and may interact directly with the company’s board of directors and auditors. The position can be assisted by an outside CPA who advises on how to record certain of the more complicated business transactions. For example, a billing clerk, payables clerk, or payroll clerk may report to the bookkeeper.

Responsibilities of a Full Charge Bookkeeper

They are typically equipped with advanced degrees and certifications, such as CPA (Certified Public Accountant), which full charge bookkeepers don’t necessarily hold. However, full-charge bookkeepers often don’t have any special certificate that gives them the title. Also, there are no official requirements, whether educational or professional, for this occupation. Most of the full-charge bookkeepers started as regular bookkeepers, gained experience, went through advanced accounting software training, and worked their way up the ladder. Since this role comes with higher responsibilities, it requires more experience in the field.

The difference between a full charge bookkeeper and a “regular” (or “in-house”) bookkeeper is the amount of responsibility that each title demands. In this article we will discuss what a full charge bookkeeper is, as well as the duties and responsibilities of a full charge bookkeeper within a business. As you can see, a full charge bookkeeper can be considered a big step up in accounting responsibility. Adding a full-charge staff member means you may need to examine your internal bookkeeping needs and hiring goals. Their skills need to be integrated effectively into your existing bookkeeping processes. Check out our small business finance and accounting assessment to see if your current team is meeting your needs.

Consequently, as your business progresses and its financial matters become more intricate, transitioning to a full-charge bookkeeper should occur organically. Hence, this becomes the optimal choice for medium to large-sized companies that are undergoing growth and possess the means to undertake this transition. Many companies find outsourced bookkeeping solutions, like CFOshare, to be less disruptive to their existing staff.