What Is Full Charge Bookkeeping?

We explain why this is a viable option for businesses just starting out, or looking to expand the accounting department. The position is most commonly found in smaller organizations where there is no need for a controller, and which has relatively uncomplicated accounting transactions. If the company grows to a larger size, supervision of the accounting function is likely to be shifted to a controller. With additional training, a full charge bookkeeper could be promoted into the controller position.

• The full charge bookkeeper may supervise various accounting clerks.
• This style of bookkeeping is most often found in small to midsize companies.
• Additionally, they charge the highest salary compared to regular bookkeepers.
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• Since full-charge bookkeepers act as accountant-controllers, they handle the full cycle of accounting duties or supervise clerks in basic processing tasks.
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The full charge bookkeeper is literally in charge of the accounting department offering a direct line to money matters for the C-suite. Additionally, they charge the highest salary compared to regular bookkeepers. If they work as an independent contractor they usually earn more for their services. A full charge bookkeeper manages the ins and outs of the general ledger. They perform a month-end closing, running a trial balance to verify that the general ledger isn’t off. Like an accountant, a full-charge bookkeeper will analyze the trial balance and make any necessary adjusting journal entries to correct errors.

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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. At Let’s Ledger, we know that small businesses need full charge bookkeeper to preserve funds anywhere they can. 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 will cull loyalty to your venture by offering expansion into a controller position.

A full-charge bookkeeper is the same as a bookkeeper, except that the “full charge” part of the title designates the person as being solely responsible for accounting. The position can be assisted by an outside CPA who advises on how to record certain of the more complicated business transactions. The full charge bookkeeper may supervise various accounting clerks. For example, a billing clerk, payables clerk, or payroll clerk may report to the bookkeeper.

The Windup: Full-charge Bookkeeping

This style of bookkeeping is most often found in small to midsize companies. Full charge bookkeeping handles all of the accounting needs of a company. Unlike standard bookkeeping which is limited to maintaining the books and basic data entry. Going full-charge means all bookkeeping, AR/AP, data systems, tax, and financial statements are prepared by one person. Since it is the largest expense for most companies, employers need to think strategically about work roles. Full charge bookkeeping is a skillset that drives a variety of financial responsibilities.

• They perform a month-end closing, running a trial balance to verify that the general ledger isn’t off.
• The position can be assisted by an outside CPA who advises on how to record certain of the more complicated business transactions.
• Even more, you will cull loyalty to your venture by offering expansion into a controller position.
• If they work as an independent contractor they usually earn more for their services.

Financial statements and tax preparation are a major responsibility for a full-charge bookkeeper. The balance sheet, income statement, and cash flow statement are typically prepared in conjunction with the month-end closing. Since they are managing the accounting department, the numbers are easily translated to taxes. Estimated quarterly taxes are filed and paid, and annual returns are prepared for the company.

AccountingTools

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real person. If you continue to see this
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to let us know you’re having trouble.

• For example, a billing clerk, payables clerk, or payroll clerk may report to the bookkeeper.
• Unlike standard bookkeeping which is limited to maintaining the books and basic data entry.
• Going full-charge means all bookkeeping, AR/AP, data systems, tax, and financial statements are prepared by one person.
• This website is using a security service to protect itself from online attacks.
• The best financial decision you can make for your company when starting out is to hire a full charge bookkeeper.
• Estimated quarterly taxes are filed and paid, and annual returns are prepared for the company.