This post provides exhaustive information on the office manager bookkeeper career, including how to become one, the various opportunities to advance in your career, and the benefits of working as an office manager bookkeeper.
How to Become an Office Manager Bookkeeper
Here are the steps you can take to become an office manager bookkeeper:
- Earn an Associate’s degree in Accounting or Business Administration.
While a Bachelor’s degree is not always required for the office manager bookkeeper position, an Associate degree in Accounting or Business can provide you with the necessary knowledge and skills to work.
Basic accounting principles, financial statements, payroll management, tax preparation, and other courses are commonly offered through these programs.
2. Gain experience with bookkeeping software.
You must gain experience working with bookkeeping software before you can become a bookkeeper office manager.
This will help you become acquainted with the tools and processes employed by professionals in this field.
To gain this type of experience, you could work as an accountant or bookkeeper for a small business.
3. Sharpen your computer skills, including the Microsoft Office Suite.
Computer skills are required for the position of bookkeeper office manager. Candidates should be comfortable with the Microsoft Office Suite, which includes Word, Excel, and PowerPoint.
Knowledge of other software programs, such as QuickBooks or Sage 50, is also advantageous.
4. Understand fundamental accounting principles.
Bookkeeping is built on accounting principles. Understanding these ideas will allow you to do your job more effectively and efficiently.
Understanding debits and credits, for example, can help you better understand financial statements such as a balance sheet or an income statement.
Certain accounting principles may also be required when completing tasks such as payroll or tax filing.
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5. Be able to multitask and manage multiple projects at the same time.
As a bookkeeper office manager, you will be in charge of managing multiple projects at once.
For example, you may need to work on payroll and handle employee issues while reviewing invoices with your team.
You must be able to prioritize tasks and manage your time effectively in order to complete all your projects on time.
6. Excellent time management abilities
You must be able to manage your time effectively and prioritize tasks based on their importance as a bookkeeper office manager.
You may have several projects or clients that require your attention at any given time, so knowing how to allocate your resources appropriately is critical.
7. Pay attention to details
As a bookkeeper office manager, you will be in charge of ensuring that all financial transactions are accurately and timely recorded.
This means you must pay close attention to detail when reviewing invoices, receipts, and other financial documents for the company.
You should also double-check your calculations before submitting them to the accounting department.
Office Manager Bookkeeper Career Advancement
The office manager bookkeeper can advance their careers in different ways, such as becoming any of the following:
- Controller
A Controller is a senior financial management position, that’s in charge of controlling the finances and accounts of an organization.
This requires a thorough understanding of complex financial concepts and practices.
Controllers help monitor the company’s financial system, ensure that it provides all the financial data required by the organization, prepare accounting reports, and maintain accounting records.
2. Corporate Controller
A Corporate Controller is typically a senior level position in a large organization who is responsible for controlling the overall flow of information and internal finance in an organization.
The job requires a high degree of attention to detail and organizational awareness with strong analytical skills.
It may require some experience in auditing and accounts payable.
3. Accounting Manager
An Accounting Manager is in charge of the accounting department in an organization.
Their role involves making sure that all transactions are recorded accurately; posting journal entries and ensuring that all financial accounts are correct and up to date.
They work closely with the Finance Director or Director of Finance and provide monthly, quarterly, and annual reports of financial status.
4. Accounting Director
An Accounting Director is typically responsible for managing a large scale organization’s accounting department.
This involves managing the accounting department’s staff to ensure that all financial transactions are recorded accurately and processed timely.
5. Assistant Controller
An Assistant Controller is typically responsible for controlling smaller accounts within a company, which are £10,000 or less.
They may be responsible for managing accounts payable and receivable as well as posting journal entries.
This job requires some knowledge of accounts or finance.
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6. Division Controller
A Division Controller is usually in charge of smaller Accounting Departments.
Their role involves managing the accounting team within a particular division, who are responsible for recording transactions and preparing financial reports.
7. Finance Controller
A Finance Controller is in charge of the controller’s accounts. This involves ensuring that all debits and credits are recorded correctly within the control register, posting journal entries and reconciling the account at month end.
They also monitor cash management and accounts payable.
8. Finance Director
The Finance Director is in charge of a company’s financial management.
Their role involves developing and implementing financial policies, making sure that all transactions are accounted for in the financial statements, and preparing business plans.
9. Directors Of Administration & Finance
Directors of Administration & Finance typically manage a company’s administrative departments and finance group in an organization.
These departments may include human resources, finance, purchasing and quality assurance.
Their job involves ensuring that all personnel have the appropriate functions and are aware of the relevant policies.
10. Director of Accounting & Finance
The Director of Accounting & Finance is responsible for managing an organization’s accounting department.
This role involves ensuring that all transaction are recorded accurately on a daily basis, prepare the annual financial statements, maintain accounting records and ensuring that their department is financially viable.
They may be responsible for the overall operations of their department to ensure efficiency and accuracy.
Challenges faced by Office Manager Bookkeeper on the Job
As an Office manager bookkeeper, you may face some challenges on the job, including:
- Workplace issues
Dealing with workplace issues could be one of the biggest challenges to being successful as an office manager bookkeeper.
Working in a busy environment may lead to you feeling pressured by deadlines and work demands.
In order to deal with this, you need to be flexible with your time, prioritize and plan your daily activities and break up large tasks into small steps.
Always take regular breaks during the day because it refreshes you and helps you regain focus.
2. Communication challenges
As an office manager bookkeeper, you must be able to communicate clearly and effectively with clients, employers, co-workers and other staff at all levels.
You should learn to listen carefully, respond to questions and give your point of view.
You also need to present information in a clear and concise manner because most people don’t have the time or patience for long explanations.
3. Time management challenges
Because you work in an office environment, you will be expected to meet deadlines for the completion of various tasks.
This can be particularly frustrating because you may have to complete several tasks at once.
To manage this, you should make sure that you have all your tasks and deadlines lined up ahead of time.
Then, once they are complete, each task will become easier because it will be completed.
Major Benefits of an Office Manager Bookkeeper Career
There are many benefits that make being an office manager bookkeeper rewarding and fun, these include:
- Opportunities for advancement
As a bookkeeper office manager, you will have the opportunity to advance in your career.
You can move up the corporate ladder and become a chief financial officer or controller for a company.
Many companies are also training their employees to fill positions as general managers and other leading roles.
2. Make a difference
As an office manager bookkeeper, you will be helping to make financial decisions for your company.
This means that you must pay close attention to detail when completing tasks, such as payroll and tax filing.
You must be knowledgeable about accounting and financial principles in order to make the best decisions for your company.
3. Work in a variety of industries
As a bookkeeper office manager, you will get to work with different groups, departments and staff members in your company.
For example, you may get to visit the production floor or interact with managers on a daily basis.
You could even be required to conduct training sessions for new employees because you are familiar with the corporate culture.
4. Work with a team
As an office manager bookkeeper, you will be working closely with your team members.
You must be able to build effective relationships and communicate effectively with them on a daily basis.
For example, you may need to provide feedback or guidance to other staff members in order to improve their productivity or work ethic.
This could even mean reprimanding an employee who is not doing their job effectively.
More Major Benefits of an Office Manager Bookkeeper Career
5. Work remotely and flexible hours
As a bookkeeper office manager, you will be working from home or an alternative workplace.
You could even work from your own home if you choose. Generally, this means you must have time and flexibility to meet the needs of your clients and team members.
Many companies are offering remote work opportunities to their employees as a way to improve their productivity and work ethic.
6. Flexible work environments
As an office manager bookkeeper, you may be working with a team of other accountants and staff members who may live in another city or state.
This could mean that you must plan your work schedule around the needs of your team members and clients.
You will also be required to travel frequently to meet these clients at their office and home.
7. Specialization in accounting option
Many companies and businesses offer training for employees to specialize in a certain area of accounting.
For example, you may already have an accounting degree, but you may want to become a certified public accountant.
Or, you may want to become a certified management accountant or certified financial analyst because of your specialized knowledge in accounting principles.
Conclusion
An office manager bookkeeper is an in-demand position that can lead to an exciting career in accounting.
In particular, the field of corporate accounting has many jobs available for the office manager bookkeeper career and will continue to grow. Informational sources: indeed.com, zippia.com, ziprecruiter.com, glassdoor.com