Published on Nov 3, 2023

What Does a Bookkeeper Do?

Kristen Michaelides

Ever wondered what a bookkeeper does day-to-day? If so, you’re in the right place…

What is a bookkeeper?

A bookkeeper is a financial professional responsible for recording and maintaining a business’s financial transactions. They play a pivotal role in helping businesses and small business owners keep track of their income, expenses, and overall financial health.

In a nutshell, they are the financial heartbeat of an organisation, ensuring every dollar is accounted for and every transaction is accurately recorded. But what does a day in the life of a bookkeeper look like?

What does a bookkeeper do?

A bookkeeper typically starts their day by checking emails and prioritising tasks for the day. They might start with reconciling transactions from the previous day, ensuring all financial data aligns with bank accounts and statements.

Throughout the day, a bookkeeper will record financial transactions, update financial statements, and check financial records for accuracy. They may also be involved in preparing invoices, processing payroll, and even assisting with budget planning and forecasting. A crucial part of their role involves generating financial reports such as balance sheets, income statements, and cash flow statements.

Despite the seemingly monotonous nature of these tasks, no two days are identical in the life of a bookkeeper. Each day brings its own set of challenges and triumphs, making this role both dynamic and rewarding.

Bookkeeper vs accountant

While both bookkeepers and accountants work with financial data, their roles within an organisation are distinct.

A bookkeeper is primarily concerned with the accurate recording of financial transactions. Their role is transactional and focuses on the day-to-day financial activities of a business.

On the other hand, an accountant takes a more analytical approach. They use the data compiled by bookkeepers to interpret, classify, and summarise financial data. They also provide financial advice and are involved in strategic planning and decision-making.

In essence, while a bookkeeper maintains the financial records of a business, an accountant diagnoses the issue and offers solutions.

Bookkeeper duties

A bookkeeper’s duties extend far beyond data entry and spreadsheets. They are responsible for:

Maintaining and updating financial records

Reconciling bank statements with general ledgers

Managing accounts receivable and payable

Processing payroll

Assisting with tax preparation and tax returns

Providing administrative and clerical support as needed

In addition to these bookkeeping tasks, a professional bookkeeper might also be involved in conducting audits and providing bookkeeping services that require a deep understanding of accounting systems and software such as QuickBooks.

Essential skills for a bookkeeper

Organisational skills

Bookkeepers often handle multiple financial documents and tasks. Strong organisational skills are necessary to keep track of all these elements without getting overwhelmed.

Attention to detail

Accuracy is crucial in bookkeeping. Every digit matters, and a good bookkeeper must have an eye for detail to ensure that all financial records are precise.

Computer literacy

In today’s digital age, proficiency in bookkeeping software and spreadsheet programs is a must. Familiarity with programs like QuickBooks, Microsoft Excel, and other financial or accounting software is highly beneficial.

Analytical thinking

While it’s primarily an accountant’s job to analyze financial data, bookkeepers also need analytical skills to spot trends, discrepancies, or anomalies in financial records.

Problem-solving skills

When discrepancies arise, a bookkeeper should be able to investigate and resolve them efficiently. Problem-solving skills are vital in maintaining the integrity of financial data.

Time management

Meeting deadlines is critical in bookkeeping. Efficient time management ensures that all financial reports and records are updated and submitted on time.

Confidentiality

Bookkeepers handle sensitive financial data. It’s imperative to maintain confidentiality and exercise discretion with all financial information.

Equipped with these skills, bookkeepers play an indispensable role in managing the financial aspects of a business, paving the way for informed decision-making and financial stability.

Bookkeepers are integral to any business. Their meticulous attention to detail and unwavering commitment to accuracy keep businesses financially healthy and compliant.

A career in bookkeeping can be incredibly rewarding, offering opportunities for continuous learning and professional growth. Take the first step towards your career and explore bookkeeping courses, today!

Browse Results

Courses found:

Top Result

Build a meaningful career that makes a difference with the HLT54121 Diploma of Nursing. This nationally recognised qualification provides the essential skills, knowledge, and practical training needed to become a qualified Enrolled Nurse in Australia....

in partnership with

The Certificate III in Community Services is perfect for entry level community services workers who support individuals through the provision of person-centred services. Work may include day-to-day support of individuals in community settings or suppor...

Are you a natural when it comes to providing guidance to people? Would you like to kick start a career in Community Services? The Certificate III in Community Services (CHC32015) is the perfect entry-level qualification for prospective Community Servic...

If you have a passion for helping those most in need, this qualification is one way you can utilise your knowledge for the benefit of others. Package the Certificate III in Individual Support (Ageing or Disability) (CHC33021) to save time and gain know...

If you love working with children and want to learn more about providing quality education and care in a range of environments, this course is for you. The Certificate lll in Early Childhood Education and Care (CHC30121) can provide you with an entry-l...

The Certificate III in Individual Support (Disability) is designed to equip you with the practical skills and knowledge to support people living with disability in a variety of care settings. With a focus on person-centred support, you’ll learn how to...

in partnership with

The Diploma of Community Services qualification reflects the roles of community services, case management and social housing workers involved in the managing, co-ordinating and/or delivering of person-centred services to individuals, groups and communi...

This qualification is suited to those working as administrators and project officers. In this role, individuals use well-developed skills and a broad knowledge base to apply solutions to a defined range of unpredictable problems and analyse information...

The Certificate III in Process Manufacturing is designed for those working or looking to work in production, warehousing, or factory roles. This hands-on course equips you with the practical skills needed to operate machinery, follow safety procedures,...

Are you interested in becoming a teacher’s aide? Work with teachers to create a comfortable and supportive environment for children’s learning. You will ensure lessons run smoothly while also developing the student’s literacy, numeracy and resear...

A Certificate III in Allied Health is your entrance into the world of health services! This course will teach you to support workers in a range of fields such as audiology to social work. You will use your qualification to gain an entry-level job in ei...

This qualification is for those who want to work in the community or in a residential setting, following a customised plan to give person-centred assistance to individuals who may need it due to ageing, disability or other circumstances. Work involves...

Are you interested in entering the health services industry? This nationally recognised qualification will allow you to enter into one of the most rewarding and enjoyable careers! When studying this course, you will gain knowledge in a range of fields...

As a beauty therapist, you become one of your clients most trusted confidants who they look to for advice on which beauty treatments and products are going to make them look their best. Imagine having that sort of impact on someone’s life. As a Beauty...

As the world becomes more mindful of the benefits of natural therapies, disciplines like remedial massage are becoming increasingly in demand. They provide patients with drug-free support to manage pain, injury, and rehabilitation. As a remedial massag...

Looking to develop your skills to manage and measure your organisation’s carbon footprint? By studying this course, you will be equipped with the technical and theoretical skills to ensure your organisation is adhering and optimising its sustainability...

The CHC30221 Certificate III in School Based Education Support qualifies you to work under the guidance of teachers and professional educators in a variety of classroom settings. This qualification reflects the role of workers who assist teachers and s...

A career in Community Services is a very rewarding one, allowing you to enrich the lives of others and use your compassion and skills to help them build a better life for themselves. Community Services is one of the fastest growing sectors in Australia...

The SIR30116 Certificate III in Community Pharmacy prepares you for a rewarding career as a pharmacy assistant in a retail pharmacy setting. This course equips you with the skills to provide excellent customer service, assist with pharmacy products, an...

The Certificate III in Individual Support equips students with the skills and knowledge to provide person-centred care to individuals in aged care, disability, or community settings. This course is ideal for those passionate about supporting people to...