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The bookkeeping service invoice allows a bookkeeper to be paid for organizing financial statements on behalf of a business or individual. The services are commonly charged on a per hour basis with the bookkeeper providing the invoice after a set of hours or a major project is completed. A bookkeeper does not have to be licensed in order to perform their duties, although, if they are certified or licensed as a certified public accountant they may be able to get paid more by clients.
Table of Contents
- What Does a Bookkeeper do?
- Bookkeeper vs Accountant
- Bookkeeper Certifications
- Bookkeeper Salary & Hourly Rate ($/hr)
A bookkeeper is an unlicensed professional that provides accounting services as an employee or independent contractor. A bookkeeper’s primary duties consist of the following:
- Balance checkbooks;
- Provide financial statements (ex. profit and loss statements, expense reports, etc.);
- Oversee financials (e.g. general ledgers, bank statements, etc.);
- Enter physical bills and receipts into accounting software;
- Provide budget estimates;
- Mileage Reimbursement;
- Payroll responsibilities; and
- Any other related accounting task that is requested by the client.
All of the above duties are to be completed in accordance with standard accounting procedures.
Accounting Invoice – For licensed accountants (CPA’s).
Expense Reimbursement Invoice – To be given to an employer to refund an employee for paying company expenses out-of-pocket.
The average person may determine that an accountant and a bookkeeper provide the same roles and duties. They both can record financial transactions into a ledger and prepare financial statements for tax purposes. Although, there are significant differences between the two (2) titles:
- No license required. Certifications are available but are nothing more than a standard test in proper accounting methods.
- No analysis required. The job of a bookkeeper is to enter and export financial statements.
- No Financial Planning Advice. A traditional bookkeeper has not undergone the education required to provide financial planning advice to an individual or business.
- May NOT Conduct a Formal Audit.
- State license required.
- Analysis required. An accountant may be asked to produce advanced accounting reports based on accounting records.
- Financial Planning Advice. An accountant is able to provide advice based on tax laws and other metrics to make recommendations to a business or individual.
- May Conduct a Formal Audit.
There are two (2) national organizations that exist for an individual to become certified:
- Requirements: At least two (2) years experience.
- Cost: $574 (members is $479)
- Exam: Four (4) parts covering adjusting entries, error correction, payroll, depreciation, inventory, and fraud detection.
- Passing Score: 70% (open-book portion) and 75% (prometric).
- Renewal: Must complete sixty (60) hours over a three (3) year period (fees not mentioned).
- Requirements: Take the Training Course or provide documentation of similar courses taken elsewhere.
- Cost: $150 (Members is $100)
- Exam: 50 multiple choice questions, minimum 75% correct, 2-hour time limit (Schedule an Exam)
- Passing Score: 75%
- Renewal: $100
Salary: $34,861/yr (source: glassdoor)
Hourly Rate: $16.87/hr (source: payscale)