A savings bookkeeper performs accounting duties and keeps track of financial records dealing with savings plans and budgets. Although it is not a requirement, an associate's or bachelor's degree in business or accounting can lead to greater job opportunities in this field.
Savings bookkeepers maintain and update financial records for their clients. They may help their clients to develop a budget or other savings plans. They must be very organized and follow a strict code of ethics. A high school diploma may be sufficient, but many employers will want someone with an associate's or bachelor's degree in accounting or another relevant field. Bookkeepers can prove their competency by obtaining professional certification, which calls for experience and passing an examination.
|Required Education||High school diploma or the equivalent at minimum, but associate's and bachelor's degrees in accounting are becoming more commonly required|
|Projected Job Growth (2014-2024)||-8% for bookkeeping, accounting and auditing clerks*|
|Median Salary (2015)||$37,250 for bookkeeping, accounting and auditing clerks*|
Sources: *U.S. Bureau of Labor Statistics (BLS)
Job Description and Duties
A bookkeeper that specializes in savings takes on many responsibilities. Their main goal is to keep track of financial records for either a business or individual clients. They must be able to work with confidential materials and follow a code of ethics since they work with very personal financial information. Other responsibilities include updating records, keeping track of accounts payable and receivable and prepare financial reports and bank deposits. Sometimes, bookkeepers will help their clients to develop budgets or other plans to achieve their financial goals.
Savings bookkeepers must be meticulous and know how to organize, not only their time, but also projects and files. They must have a keen eye for details and catching errors.
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Minimum requirements for being a savings bookkeeper include having a high school diploma, although more and more employers are looking for professionals who have an associate's or bachelor's degree in accounting or another business-related field. Coursework in finance, mathematics, business management and economics is recommended. Students should also familiarize themselves with commonly used bookkeeping software like Quickbooks.
Those who are interested in becoming a savings bookkeeper should also look into becoming a Certified Bookkeeper, which is through the American Institute of Professional Bookkeepers. This certification shows employers that a professional is skilled in all areas of bookkeeping and are able to handle taking on tasks like managing the company's ledger. To earn this certification, individuals must pass an exam and follow a code of ethics. They must also have at least two years of bookkeeping experience before they are eligible for this certification. It must be renewed every three years. Proof of continuing education is required for recertification.
Savings bookkeepers can choose either to go full or part-time work. There are many part-time work opportunities in this industry and savings bookkeeping professionals are able to tailor their schedules to their lifestyles. With additional education and certification, some savings bookkeepers go on to be accountants.
Employment Outlook and Salary Information
Bookkeeping, accounting and auditing clerk employment growth is expected to decline by 8% over the 2014-2024 decade, according to the U.S. Bureau of Labor Statistics (www.bls.gov). The BLS also reported these same occupations earned median salaries of $37,250 in 2015.
It is essential for savings bookkeepers to be well organized with a meticulous eye for detail, have knowledge of bookkeeping software, and posses the ability to adhere to a professional code of ethics. A postsecondary degree and professional certification can expand job opportunities in this field, and work can be performed either part or full time. There is expected to be an 8% decline in jobs for bookkeepers over the 2014-2024 decade.