Do I need a Full Charge Bookkeeper?

A full charge bookkeeper is often found in smaller companies, a business that finds they have no need for a controller, or a company that has relatively uncomplicated day-to-day transactions. A full charge bookkeeper is someone who is solely responsible for all accounting duties within the business or entity and reports to someone in senior management such as the president, CEO or the board of directors.

Experience requirements for a full charge bookkeeper vary; at the very least, they will need experience in the accounting field, an associate's degree will generally yield more familiarity in the field and allow them to accomplish more complicated accounting tasks effectively and efficiently.

Once you decide you want to hire a full-charge bookkeeper, you should look for someone who has advanced knowledge and experience in bookkeeping, the accounting systems, is detail-oriented, and has knowledge of project management. These skills and experience combined allow your bookkeeper to efficiently handle the full cycle of accounting and bookkeeping needs for the company. Some examples of duties are:

• Process all accounts payable and receivable, such as billing customers and receiving/recording payments, entering vendor bills, and paying invoices

• Processing all employee timesheets and running payroll. Remitting payroll taxes, sales tax, use tax, and income tax payments.

• Prepare bank deposits. Reconcile all accounts such as bank, credit card and loans.

• Preparing monthly/quarterly financial statements. Along with all the bookkeeping, a full-charge bookkeeper will also prepare financial statements, such as the income statement (profit and loss) and the balance sheet, monthly, and will take a deeper look at the general ledger and make any necessary journal entries.

If you find yourself stretched thin without enough time to get everything done, or drained by tasks that are essential to your business but not something you enjoy, it might be time to hire a full-charge bookkeeper. Once you've hired one, you will most likely find that you now have more time and energy to dedicate to other areas of your business. This can increase profit and productivity over time.