Bookkeeping, also referred to as financial record keeping, is an occupation with many opportunities for job placement and enhancement. Some employers require full charge bookkeepers to have only a high school diploma, while others require a college degree in accounting or a related field. Full charge bookkeepers are in charge of a company's financial information.
Full charge bookkeepers maintain all of the accounting records and books for a single company. They calculate expenses that the company pays for supplies or other employee benefits or needs, and manage the accounts payable and receivable records. The accounts receivable record is the money that is owed to the company from its customers. The accounts payable record is the money that the company owes to vendors for products or services that the company purchases.
Full charge bookkeepers verify expenditure and other miscellaneous accounting information for the company. They then take the details and data from their accounts and enter it in various ledgers to make it easy for others in the company to see and keep track of. Full charge bookkeepers commonly use computer programs such as Excel spreadsheets to organize data and information in ledgers. These spreadsheets make it easy for others to view the company's financial data, and are a fast and efficient way for full charge bookkeepers to perform this aspect of their jobs and move on to other responsibilities.
Bookkeepers usually do this by using a balance sheet. A balance sheet tracks the assets, liabilities and owner's equity of a company. Assets are things of value or money belonging to a company; liabilities are things of value or money that a company owes. Owner's equity, commonly referred to as capital, refers to things of value or money that belong to the owners of the company.
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