A full-charge bookkeeper is usually assigned more responsibilities, and performs a more complex role than a regular bookkeeper, especially in a small business. You would find full charge bookkeepers in small, medium size, or star-up firms that do not need the services of an accountant or controller than in larger firms.
A full-charge bookkeeper takes care of all the accounting needs of a company, starting from the preparation of financial statements to the supervision of the general ledger. He or she would work with an outside CPA firm to prepare financial statements and tax returns at the end of the year. A full-charge bookkeeper is also expected to report directly to the owner of an organization or to the highest level of authority.
Requirements for a full-charge bookkeeper role
A high school diploma is the least education requirement for the role of a bookkeeper, but some organizations or firms would usually ask for further certification or education. Some business or accounting firms would ask for a bachelor’s degree or an associate’s degree, while some organizations would accept a certification like ‘the Certified Bookkeeper designation’ provided by the American Institute of Professional Bookkeepers.
Other requirements for this role include advanced accounting software training, a combination of a certification and any advanced education, etc.
What does a full charge bookkeeper actually do?
All accounting and bookkeeping duties can be handled by a full charge bookkeeper. He or she supervises, run payroll checks, bill customers and clients, prepare bank deposits, prepare monthly and quarterly tax returns, and enter vendor and expense invoices.
- Financial Statements:
A full charge bookkeeper prepares financial statements like the income statement and balance sheets at every month ends. 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.
In start-up, small, or medium firms, a full charge bookkeeper supervises employees, purchases, human resources, inventory, and helps to organize work flow, verify the accuracy of work. He or she might also work alone in the processing of an organization’s financial reporting or basic bookkeeping.
- General Ledger:
Unlike the regular bookkeepers, a full charge bookkeeper looks deeper into a general ledger. He or she would be expected to prepare and enter all journal entries for accounts liked depreciation and fixed assets.