Careers in Bookkeeping

Article byWallstreetmojo Team
Edited byAshish Kumar Srivastav
Reviewed byDheeraj Vaidya, CFA, FRM

List of Top 6 Careers in Bookkeeping

Below mentioned are some of the career opportunities in the Bookkeeping profile that a person can reach in his career.

Careers-in-Bookkeeping

You are free to use this image on your website, templates, etc, Please provide us with an attribution linkHow to Provide Attribution?Article Link to be Hyperlinked
For eg:
Source: Careers in Bookkeeping (wallstreetmojo.com)

Overview of Careers in Bookkeeping

BookkeepingBookkeepingBookkeeping is the day-to-day documentation of a company’s financial transactions. These transactions include purchases, sales, receipts, and payments.read more refers to recording the business’s day-to-day financial transactions to ascertain its financial position. There are various opportunities to make a career in bookkeeping since it is the core of the financial world that deals with numbers, thus providing an essential service to the business and enhancing the professional opportunities for individuals to excel in the field.

Financial Modeling & Valuation Courses Bundle (25+ Hours Video Series)

–>> If you want to learn Financial Modeling & Valuation professionally , then do check this ​Financial Modeling & Valuation Course Bundle​ (25+ hours of video tutorials with step by step McDonald’s Financial Model). Unlock the art of financial modeling and valuation with a comprehensive course covering McDonald’s forecast methodologies, advanced valuation techniques, and financial statements.

#1 – Accountant

Who is an Accountant?
Accountant – Job Description
ResponsibilitiesHis job is to ensure all the income and expenses are captured in the accounting system and keep track of the same.
DesignationAccountant
Actual RoleHe will work with multiple junior accountants to perform the daily task by following the desired internal process for payments and receipts.
Job StatisticsAs per the US Bureau of Labor Statistics, the number of jobs in this category was 14,24,000 as of 2016 and is expected to grow by 6% from 2018 to 2028.
Top CompaniesAll types of corporates.
SalaryThe median annual salary for an accountant as of May 2018 was $ 70,500, per the US Bureau of Labour statistics.
Demand & SupplyDemand for Accountants will continue to grow due to the increase in the number of companies registered annually.
Education RequirementA Bachelor’s Degree / Master’s degree in accountancy
Recommended CoursesGraduation/MBA
PositivesAs the economy grows, the number of workers required to do the job also increases.
NegativesLong Working Hours and daily routine work can be boring.

#2 – Payroll Processing Manager

Who is the Payroll processing Manager?

Is the one who takes care of the entire payroll operations of the company.

Payroll Processing Manager – Job Description
ResponsibilitiesHis job is to ensure all the employees’ salaries are processed on time and their safety in the organization.
DesignationPayroll manager
Actual RoleHe will work closely with the HR department to process the monthly salary payments and take care of the entire employee database in the organization.
Job StatisticsThere are no specific statistics displayed on the bachelor of labor studies website. Top Companies: All types of corporations.
Top CompaniesAll types of corporates.
SalaryThe Median Annual Salary for a payroll manager may range anywhere from $50,000 to $75,000
Demand & SupplyDemand for payroll managers is rising, with many companies expanding their operations and employing more people.
Education RequirementA Bachelor’s Degree / Master’s degree in accountancy
Recommended CoursesGraduation/MBA
PositivesAs the economy grows, the number of workers required to do the job also increases.
NegativesKeeping the employee database up to date is not an easy job.

#3 – Financial Managers

Financial Manager – Job Description
ResponsibilitiesHis job is to ensure all the systems and processes are in place, and all the transactions are accounted for daily within the desired tat.
DesignationSenior Accountant
Actual RoleThis is to supervise the tasks of the junior accountants and manage the team daily, so there are no hiccups.
Job StatisticsAccording to the US Bureau of Labor Statistics, the number of jobs in this category was 6,53,600 as of 2018 and is expected to grow by 16% from 2018 to 2028.
Top CompaniesAll types of corporations.
SalaryThe median annual salary for a senior analyst as of May 2018 was $ 1,27,990, per the US Bureau of Labour statistics.
Demand & SupplyDemand for financial managers will continue to grow, seeing the demand for the position since fewer people take this profile as their career.
Education RequirementCPA/MBA
Recommended CoursesCPA/MBA
PositivesThe job of financial managers, including risk management, continues to grow.
NegativesLong Working Hours and daily monitoring of the people are required.

#4 – Budget Analyst

Who is a Budget Analyst?

Is the one who prepares the Company’s budget, keeping in mind the Current Performance, Expected Growth Opportunity, Regulatory Framework, and the Target Market to be approached in the long term.

Budget Analyst – Job Description
ResponsibilitiesResponsible for preparing periodic budgets to support the accounting function.Responsible for preparing periodic budgets to support the accounting function.
DesignationBudget Analyst
Actual RoleData Crunching in Excel.
Job StatisticsAs per the US Bureau of Labor Statistics, the number of jobs in this category was 58,400 as of 2016 and is expected to grow by 7% from 2018 to 2026.
Top CompaniesAll large corporations.
SalaryThe median annual salary for a personal budget analyst as of 2018 was $ 76,220.
Demand & SupplyA very high demand profile since the analyst works very closely with the CFO of the company and prepares the variance monthly to major the performance.
Education RequirementCPA / MBA from Tier -1 Universities with at least 5-10 Yrs of Experience.
Recommended CoursesCPA/ MBA
PositivesAnalytical Skills have become Sharp, and a chance to interact with the top management daily.
NegativesExtensive Data Crunching sitting at a desk can be boring.

#5 – Chief Financial Officer

Who is Chief Financial Officer?

It is the topmost position in accountancy a person can reach in his career.

Chief Financial Officer – Job Description
ResponsibilitiesResponsible for managing the company’s financial operations and taking strategic steps to make the company profitable.
DesignationCFO
Actual RoleManages all the departments in the company, including accounts, admin, HR, treasury, compliance, etc.
Job StatisticsNo data has been shared on the US Bureau of Labor statistics.
Top CompaniesAll large corporations.
SalaryA CFO position’s median annual salary can be between $2,00,000 to $5,00,000.
Demand & SupplyHigh demand since a tactful person is required to handle this position.
Education RequirementCFA/CPA / MBA from Tier -1 Universities with at least 5-10 Yrs of Experience.
Recommended CoursesCFA/CPA/ MBA
PositivesExtensive knowledge of finance.
NegativesResponsible for any wrongdoings or financial fraud in the company.

#6 – Auditors

Who is the Auditor?

They are the ones who will actually certify the financial statements prepared by the CFO of the company and is the most crucial position in the field of finance as, without audit, the financials are not acceptable in the market.

Auditor – Job Description
ResponsibilitiesResponsible for auditing the books of accounts of the company and certifying the financial statements whether they display a true and fair view of the business operations and performance of the company.
DesignationAuditor
Actual RoleTo check the vouchers and bank accounts of the company to establish the genuineness of the transaction.
Job StatisticsNo data has been shared on the Bureau of Labor statistics of the US.
Top CompaniesAll large corporations and Big4 CA firms in the world.
SalaryThe Median Annual Salary for an auditor can be between $1,00,000 to $3,00,000.
Demand & SupplyHigh demand due to the knowledge and analytical skills.
Education RequirementCFA/CPA / MBA from Tier -1 Universities with at least 5-10 Yrs of Experience.
Recommended CoursesCFA/CPA/ MBA
PositivesExtensive Knowledge
NegativesResponsible for any wrongdoings in the company.

Bookkeeping Career Activities

An individual may pursue multiple kinds of careers in the bookkeeping profession. We can divide the list into the below-mentioned buckets:

Recommended Articles

This has been a guide to Careers in Bookkeeping. Here we provide the list of top 6 bookkeeping career opportunities that a person can reach in his career, including Accountant, Payroll Accounting Processing Officer, Financial Manager, Auditors, etc. You may also have a look at the below articless –

Reader Interactions

Leave a Reply

Your email address will not be published. Required fields are marked *