How to become a BOOKKEEPER

As long as there are businesses, bookkeepers will always be in demand. It is a legal requirement in the UK for every single business to maintain accurate financial records. Bookkeepers are vital in enabling business owners to abide by this legislation, and the career is essentially recession proof. Regardless of whether the economic climate is good or bad, businesses must still follow the law and keep accurate records.

As a bookkeeper, your salary will vary depending on where you live in the UK. Assuming you live in a higher paying area, then a career in bookkeeping could be very attractive. You can also have a degree of control over how much more you can earn as a bookkeeper, by choosing to study towards a relevant professional qualification. If you choose to become a self-employed bookkeeper, then you will also have the power to set your hourly rate. In most people’s cases this will be a healthy increase compared to the hourly rate that they were earning whilst employed.

As bookkeepers are in demand, there are a lot of jobs available. This means that you can pick and choose until you find a role with hours to suit your schedule. You might decide to work a regular 9-5 job, with holidays and benefits, or you might decide to work on a contract or temporary basis. This will provide you with a month or so off each year, to travel or do as you wish once the contract ends. Finally, you could become self-employed, and work whatever hours you wish.

If you are someone who hates speaking on the telephone, dislikes dealing with people face to face or does not enjoy explaining things to others, then this could be a real problem. Let’s assume, for the sake of this chapter, that your bookkeeping role involves handling sales and purchase ledgers, credit control and payroll. This would require large amounts of communication, on a daily basis. Phone calls will need to be answered from customers, suppliers and other staff members. You will have to handle customer queries, via email and phone, and may be required to speak to customers and demand payment for overdue invoices. You may also have to liaise with other departments in order to resolve payment issues.

A career as a bookkeeper comes with a certain degree of pressure. The level of pressure that you are under will vary depending on the size of the company that you work for, and whether or not you are working alone. If you are working in a team, then you will have the support of your team members. During busy times, you will sometimes be expected to work longer hours than people in other departments. You will also be expected to work diligently and accurately at all times, with very small margin for error.

While bookkeeping principles don’t change, technology is moving at a rapid pace. This means that in order to remain valuable to employers and clients, bookkeepers need to keep up to date and be willing to work with a variety of different accounting software packages. If you do not like learning new skills, are reluctant to take on new clients or don’t want to work for an employer who uses unfamiliar accounting software, then this could be a serious con.

An asset is something a company owns or is owed, while a liability is something that a company owes to someone else.

An accounting adjustment made to ensure that expenses and income are included in the period in which they are earned or incurred, not received or paid.

Amounts paid in advance of the goods or services being received at the period or year end.

Tip: Just give your honest opinion of which system you preferred and why. For example, you may have found a particular system very intuitive and easy to navigate.

Sample Answer: I have used Sage 50, Microsoft Dynamics and Xero. I preferred using Xero because it is easy to use, accessible from any computer and encourages paperless offices, as documents can be uploaded and saved directly to Xero using cloud technology.

Tip: A potential employer wants to know that you are genuinely interested in the role, and that you want to work for their company. Therefore, it’s a good idea to read the job description thoroughly, and to research the company prior to the interview. This allow you to make relevant references in your answer.

Sample Answer: Your company has a great reputation within the industry and I believe strongly in the service that you offer to clients. I believe that this position would take my career to the next level, and I think I’d work really well in a company such as yours. The role itself is an excellent match for my skills and experience, and would provide me with new challenges and learning opportunities.