Rising Star On The Modern Accounting Team: A Full-Charge Bookkeeper
The best financial decision you can make for your company when starting out is to hire a full charge bookkeeper. They will wear multiple hats, especially if your business doesn’t have a demanding accounting department. Even more, you can cull loyalty to your venture by offering a path into the controller position.
What Is A Full Charge Bookkeeper?
The meaning of “full-charge” is twofold. The full charge bookkeeper is literally in charge of the accounting department, offering a direct line to money matters for the C-suite.
It is not an entry-level position. Most companies prefer full charge bookkeepers with a combination of education, experience in the field, and advanced accounting software training. Since full-charge bookkeepers act as accountant-controllers, they handle the full cycle of accounting duties or supervise clerks in basic processing tasks.
They charge the highest salary compared to regular bookkeepers. If they work as an independent contractor they usually earn more for their services.
- U.S. Salary Range: $35,000-$55,000
- Hourly Contract: $20-$25
What can a full charge bookkeeper do?
- Accounts Payable: Record and pay vendor bills
- Accounts Receivable: Issue customer invoices and collect customer payments
- Maintain a system of accounts, with a supporting filing system
- Payroll: Manage employee records and timesheets, administer pay and benefits
- Prepare monthly and quarterly tax returns for reviewal
- Prepare financial reports and statements for reviewal
- Remit payroll taxes, sales taxes, use taxes, and income taxes
- Accounting for fixed assets and depreciation
- Reconcile bank accounts and petty cash accounts
- Prepare information for internal audits
- Management of banking and cash-on-hand
This bookkeeping position was made for startups!
In a smaller company, the full charge bookkeeper might work alone. As the company grows this role evolves into an accounting management role. They often supervise administrative assistants, AR/AP clerks, and or bookkeeping clerks.
With more experience in the field, they could be promoted into a controller position. Note: All the work they perform ALWAYS needs to be approved by a CPA or the owners of the business.
By: Michael Pirumov
Founder-Partner
Lets Ledger
Need specific help with your startup accounting? Drop a comment below.
