Bookkeeping, Accounting, and Auditing Clerks
Bookkeeping, accounting, and auditing clerks are financial recordkeepers. They update and maintain accounting records, including those which calculate expenditures, receipts, accounts payable and receivable, and profit and loss. These workers have a wide range of skills from full-charge bookkeepers, who can maintain an entire company's books, to accounting clerks who handle specific tasks. All these clerks make numerous computations each day and must be comfortable using computers to calculate and record data.
In small businesses, bookkeepers and bookkeeping clerks often have responsibility for some or all the accounts, known as the general ledger. They record all transactions and post debits (costs) and credits (income). They also produce financial statements and prepare reports and summaries for supervisors and managers. Bookkeepers prepare bank deposits by compiling data from cashiers, verifying and balancing receipts, and sending cash, checks, or other forms of payment to the bank. Additionally, they may handle payroll, make purchases, prepare invoices, and keep track of overdue accounts.
In large companies, accounting clerks have more specialized tasks. Their titles, such as accounts payable clerk or accounts receivable clerk, often reflect the type of accounting they do. In addition, their responsibilities vary by level of experience. Entry-level accounting clerks post details of transactions, total accounts, and compute interest charges. They also may monitor loans and accounts to ensure that payments are up to date. More advanced accounting clerks may total, balance, and reconcile billing vouchers; ensure the completeness and accuracy of data on accounts; and code documents according to company procedures.
Auditing clerks verify records of transactions posted by other workers. They check figures, postings, and documents to ensure that they are mathematically accurate, and properly coded. They also correct or note errors for accountants or other workers to fix.
As organizations continue to computerize their financial records, many bookkeeping, accounting, and auditing clerks use specialized accounting software, spreadsheets, and databases. Most clerks now enter information from receipts or bills into computers, and the information is then stored electronically. The widespread use of computers also has enabled bookkeeping, accounting, and auditing clerks to take on additional responsibilities, such as payroll, procurement, and billing. Many of these functions require these clerks to write letters and make phone calls to customers or clients.
Work environment. Bookkeeping, accounting, and auditing clerks work in an office environment. They may experience eye and muscle strain, backaches, headaches, and repetitive motion injuries from using computers on a daily basis. Clerks may have to sit for extended periods while reviewing detailed data.
Many bookkeeping, accounting, and auditing clerks work regular business hours and a standard 40-hour week, although some may work occasional evenings and weekends. About 1 out of 4 clerks worked part time in 2008.
Bookkeeping, accounting, and auditing clerks may work longer hours to meet deadlines at the end of the fiscal year, during tax time, or when monthly or yearly accounting audits are performed. Additionally, those who work in hotels, restaurants, and stores may put in overtime during peak holiday and vacation seasons.
Employers usually require bookkeeping, accounting, and auditing clerks to have at least a high school diploma and some accounting coursework or relevant work experience. Clerks should also have good communication skills, be detail oriented, and trustworthy.
Education and training. Most bookkeeping, accounting, and auditing clerks are required to have a high school degree at a minimum. However, having some postsecondary education is increasingly important and an associate degree in business or accounting is required for some positions. Although a bachelor's degree is rarely required, graduates may accept bookkeeping, accounting, and auditing clerk positions to get into a particular company or to enter the accounting or finance field with the hope of eventually being promoted.
Once hired, bookkeeping, accounting, and auditing clerks usually receive on-the-job training. Under the guidance of a supervisor or another experienced employee, new clerks learn company procedures. Some formal classroom training also may be necessary, such as training in specialized computer software.
Other qualifications. Bookkeeping, accounting, and auditing clerks must be careful, orderly, and detail-oriented to avoid making errors and to recognize errors made by others. These workers also should be discreet and trustworthy, because they frequently come in contact with confidential material. They should also have good communication skills, because they increasingly work with customers. In addition, all bookkeeping, accounting, and auditing clerks should have a strong aptitude for numbers.
Experience in a related job and working in an office environment is recommended. Workers must be able to use computers, and knowledge of specialized bookkeeping or accounting software is especially valuable.
Certification and advancement. Bookkeeping, accounting, and auditing clerks, particularly those who handle all the recordkeeping for a company, may find it beneficial to become certified. The Certified Bookkeeper (CB) designation, awarded by the American Institute of Professional Bookkeepers, demonstrates that individuals have the skills and knowledge needed to carry out all bookkeeping functions, including overseeing payroll and balancing accounts, according to accepted accounting procedures. For certification, candidates must have at least 2 years of bookkeeping experience, pass a four-part examination, and adhere to a code of ethics. Several colleges and universities offer a preparatory course for certification; some offer courses online. Additionally, certified bookkeepers are required to meet a continuing education requirement every 3 years to maintain certification.
Bookkeeping, accounting, and auditing clerks usually advance by taking on more duties for higher pay or by transferring to a closely related occupation. Most companies fill office and administrative support supervisory and managerial positions by promoting individuals from within their organizations, so clerks who acquire additional skills, experience, and training improve their advancement opportunities. With appropriate experience and education, some bookkeeping, accounting, and auditing clerks may become accountants or auditors.
Bookkeeping, accounting, and auditing clerks held about 2.1 million jobs in 2008. They work in nearly all industries and at all levels of government. State and local government, educational services, healthcare, and the accounting, tax preparation, bookkeeping, and payroll services industries are among the individual industries employing the largest numbers of these clerks.
Job growth is projected to be about as fast as the average. The large size of this occupation ensures plentiful job opportunities, as many bookkeeping, accounting, and auditing clerks are expected to retire or transfer to other occupations.
Employment change. Employment of bookkeeping, accounting, and auditing clerks is projected to grow by 10 percent during the 2008–18 decade, which is about as fast as the average for all occupations. This occupation is one of the largest growth occupations in the economy, with about 212,400 new jobs expected over the projections decade.
A growing economy will result in more financial transactions and other activities that require recordkeeping by these workers. Additionally, an increased emphasis on accuracy, accountability, and transparency in the reporting of financial data for public companies will increase the demand for these workers. Also, new regulations and reporting methods, including the use of International Financial Reporting Standards, should result in additional demand for clerks involved in accounting and auditing. However, growth will be limited by improvements in accounting software and document-scanning technology that make it easier to record, track, audit, and file financial information, including transactions and reports. Moreover, companies will continue to outsource their bookkeeping, accounting, and, in some cases, auditing functions to third party contractors located both domestically and abroad.
Job prospects. While many job openings are expected to result from job growth, even more openings will stem from the need to replace existing workers who leave. Each year, numerous jobs will become available, as clerks transfer to other occupations or leave the labor force. The large size of this occupation ensures plentiful job openings, including many opportunities for temporary and part-time work.
Clerks who can carry out a wider range of bookkeeping and accounting activities will be in greater demand than specialized clerks. For example, demand for full-charge bookkeepers is expected to increase, because they can perform a wider variety of financial transactions, including payroll and billing. Certified Bookkeepers (CBs) and those with several years of accounting or bookkeeping experience who have demonstrated that they can handle a range of tasks will have the best job prospects.
In May 2008, the median annual wages of bookkeeping, accounting, and auditing clerks were $32,510. The middle half of the occupation earned between $26,350 and $40,130. The top 10 percent of bookkeeping, accounting, and auditing clerks earned more than $49,260, and the bottom 10 percent earned less than $20,950.