Double-entry Bookkeeping System

In a double-entry bookkeeping system, after every transaction, changes are made in a minimum of two accounts. In this system, both debit and credit accounts are maintained; which helps the company to find out any errors in calculations. If the debit amount does not match the credit amount, a transaction has been missed. This necessarily does not mean there cannot be errors in the books even if the debit and credit amount matches. Standard books in a double-entry bookkeeping system include daybooks, journals, ledgers, and petty cash book.

About Bookkeeping Jobs

The bookkeeper job description includes most of the single and double-entry tasks. A bookkeeper has to collect all the information and use it for preparing statistical reports for financial management of the company. This professional can even be asked to oversee the functioning of accounting and payroll practices.

For those thinking how to become a bookkeeper, you need to have a educational background in math, banking, and finance. You can either opt for a diploma or an associate's degree in any field related to bookkeeping.

After obtaining relevant education qualification, you can look forward to work as a bookkeeper. To become a certified bookkeeper, you will need to show a work experience of two years in the field.

Remember that the salary range for a job as a bookkeeper depends a lot on the certification. Other bookkeeping skills required are logical thinking, good communication, and a liking to work with figures and numbers.

Note that bookkeeper duties may vary from company to company and the practices adopted. Bookkeeping is definitely very significant for a business to realize its income over expenditure.

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HOW TO BECOME A BOOKKEEPER

There are many professions that are not very well-known, yet are attracting a good demand in the job market. A career opportunity as a bookkeeper is one such job. There is a common misconception among people about careers as certified bookkeepers. It is generally believed that bookkeeping is a recently developed profession. However, this profession has been around for approximately 500 years, and was first practiced by a person named Luca Pacioli.

Every company, be it big or small, is required to implement bookkeeping as a standard practice. As a result, the demand for certified bookkeepers is soaring significantly. In the following article, you will get to know about the bookkeeper job description and how to become a bookkeeper.

In the bookkeeper job description, a majority of the responsibilities include assessing the financial details of an organization and suggesting proper financial management for the future. A standard task is to gather company data for the purpose of developing statistical reports involving sales, profits and losses, expenditures, and other financial aspects.

A full time bookkeeper can be asked to manage the accounting department and oversee the employee payroll process. Typically, the roles and responsibilities of a bookkeeper are not much different from those of accountants. Let us now get to know how to become a bookkeeper.

How to Become a Bookkeeper?

Since the bookkeeper duties consist of handling financial matters of an organization, you need to be good at handling and keeping a record of money. If you are wondering how to become a bookkeeper; you need to be good in subjects like economics and math in high school. In secondary school, you should prefer to do majors in subjects such as accounting, banking, finance, etc.

The knowledge gained from these subjects will serve as a base for becoming a bookkeeper in the future. It is also a good idea to become proficient in handling applications and software which are related to financial data management. There are many ways in which you can gain basic knowledge in the bookkeeping field. You can enroll for a vocational course in financial management and accounting, or go in for a full time course in bookkeeping at the university.

You can also do a diploma or an associates degree in subjects such as business management, accounting, banking and finance, or similar ones. It is always better to do a reputed course that would make you eligible for job as a bookkeeper. After you have the right educational qualifications in your hand, you need to search for a job as a bookkeeper. Remember that for being certified, you need to have at least few years of work experience as a bookkeeper.

In order to be eligible to sit for the certified bookkeeper exam, you need two years of experience. The certification is administered by the National Institute of Certified Bookkeepers, one of which is the American Institute of Professional Bookkeepers. With passing the exam, you will be required to sign a code of conduct for being certified.

If you are thinking about how to become a freelance bookkeeper, it is better that you back your career with education and the necessary certifications. By taking some advanced bookkeeping courses, you can certainly add some credit to your educational qualifications.

Keep in mind that being certified is not at all a mandatory requirement, but is beneficial for obtaining a higher salary range for job as a bookkeeper. If you are working as a freelance bookkeeper, the bookkeeper salary range would largely depend on the clients you deal with. I hope by now you might have understood the standard procedure regarding how to become a bookkeeper.

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INTERNATIONAL TRADE

International economics is concerned with the effects upon economic activity of international differences in productive resources and consumer preferences and the institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries, including trade, investment and migration.