Do you know what the duties of a full-charge bookkeeper are? If not you are not alone. Compared to a basic bookkeeper a full-chare bookkeeper is assigned more responsibilities, and performs a more complex role, especially in a small business. You will find full-charge bookkeepers in small, medium size, or star-up firms that do not require the services of a controller found in larger firms.

A full-charge bookkeeper takes care of all the accounting needs of a company, starting with general ledger duties to the preparation of financial statements. In addition, they work with an outside CPA firm to ensure your tax returns are prepared accordingly.

Most businesses or accounting firms are asking for a bachelor’s degree or an associate’s degree, while some organizations would accept a certification. Other requirements for this role include advanced accounting software training, a combination of certification and any advanced education, etc.

What does a Full Charge Bookkeeper Do?

  • Bookkeeping:

They run payroll checks, bill customers and clients, and prepare bank deposits. They also prepare monthly and quarterly tax returns, and enter vendor and expense invoices.

  • Financial Statements:

A full charge bookkeeper prepares financial statements every month end. He or she is also tasked with running a statement of owner’s equity or a cash-flow statement depending on what an organization needs, or how it is structured.

  • General Ledger:

Unlike the regular bookkeepers, a full charge bookkeeper looks deeper into a general ledger. They are also expected to prepare and enter all journal entries for accounts liked depreciation and fixed assets.

In addition to the above duties, a full-charge bookkeeper also assists with supervision responsibilities and reports directly to the owner. They can work remotely with ease. They can also provide cost savings compared to hiring a controller in the earlier stages of your business.

Still unsure of what type of bookkeeper your organization needs? Contact us today. We would be happy to provide you the guidance to make the best selection for your business.