What does a bookkeeper do?

Can someone explain the main responsibilities of a bookkeeper? I'm curious if this job involves anything beyond managing financial ledgers. Is this a good entry-level job option after high school?

Sure, I'd be happy to explain. In general, bookkeepers are responsible for maintaining a complete and accurate record of all of a business's financial transactions. This includes everything from income to expenses, and it often involves managing various financial documents such as invoices and receipts. They may use ledger books ("books") or accounting software to record these transactions, hence the name "bookkeeper."

Key duties of a bookkeeper often include:

1. Recording and categorizing financial transactions

2. Managing accounts receivable/payable

3. Reconciling bank statements

4. Producing balance sheets and income statements

5. Assisting with payroll

6. Tracking income and expenses against budget

7. Assisting with audits and preparing financial reporting documents

It's worth noting that the responsibilities of a bookkeeper may vary depending on the size and nature of the business. For instance, in a small business, a bookkeeper might handle virtually all financial tasks, while in larger companies, they might specialize in one particular area, like accounts receivable.

As for your second question, bookkeeping can certainly be an entry-level position post-high school, especially in smaller companies that may not require formal post-secondary education. However, having relevant qualifications or certifications, such as certification from the American Institute of Professional Bookkeepers, can definitely improve your job prospects and potentially lead to higher wages. It's also a profession that can offer a solid foundation in finance and accounting, making it a good stepping stone for more advanced roles in these fields.