A bookkeeping office manager handles the fundamental aspects of a firm’s financial record keeping. They are in charge of updating all financial records of a company.
The bookkeeping office manager handles company’s financial records, enters data, types and generates work orders, assists with budget preparations, and records financial transactions such as outgoing and incoming checks. Bookkeeping office managers handle accounts payable and accounts receivable, reconcile bank statements; update the trial balance; manage the profit-loss statement and balance sheets; manage payroll; and receive requests for materials and equipment for the company. The bookkeeping office manager also prepares purchase orders; reviews invoice listed prices; makes necessary pricing adjustments; and compiles reports to show information and statistics. The bookkeeping office manager summarizes details in separated ledger in computer files and transfers them to a general ledger; invoices clients; makes federal state tax depositions; and completes annual tax forms.
Education and Training Requirements
Although bookkeeping office managers do not necessarily need any college degree; those in possessions of one may earn more. Bookkeeping is more of having to undergo training to learn the tasks involved with definite concern and accuracy. At least three to five years of previous experience with bookkeeping and accounting is required in order to become a manager. Certification may be attained for those who want advancement in their job opportunities.
Knowledge and Skills Requirements
A bookkeeping office manager must be familiar with bookkeeping and the generally accepted principles of governmental accounting. He/she must know how to use at least one bookkeeping program. The bookkeeping office manager must possess numerical abilities and must have knowledge in double entry bookkeeping. He must communicate effectively with employees, external vendors as well as negotiate the best deals possible with suppliers. A lot of patience is required of bookkeeper managers, as it may become a tedious job. Finally, he must be discreet and trustworthy since the manager handles numbers and other confidential materials.
A bookkeeping office manager usually works independently in small companies, but may handle a team of people in big corporations. He is usually in a pleasant and clean work environment in front of loads of paperwork, documents and his personal computer at hand. They are susceptible to eyestrain as data entry responsibilities are endless. He works a normal 40-hour a week schedule with minimal overtime schedules.
A bookkeeping office manager’s average annual salary is $46,000. Factors that determine the salary of a bookkeeping office manager include his responsibilities and job functions. Other factors such as size of company and location matter as well. Some companies may provide non-monetary benefits to bookkeeping office managers.