by CourseAdvisor

The financial records of businesses and government agencies, including receipts, accounts payable, accounts receivable, and profit and loss analyses, must be constantly updated, maintained, verified, and tabulated. In the United States, two million bookkeeping, accounting, and auditing clerks do this work.

In small businesses, bookkeepers are often responsible for all of the business's books.

The bookkeeper:

• Records financial transactions
• Posts debits and credits
• Assembles financial statements
• Prepares management reports and summaries
• Prepares and submits bank payments
• Manages the payroll
• Purchases materials
• Prepares invoices
• Tracks overdue accounts

Accounting clerks have more specialized roles such as "accounts payable clerk" or "accounts receivable clerk." The accounting clerk works in large offices or accounting firms. Auditing clerks check financial records posted by other clerks.

Bookkeeper and accounting clerk positions require at least a high school diploma. Many career or technical schools offer diploma and associate degree programs in business or accounting. The "Full charge" bookkeeper, especially those who obtain the "Certified Bookkeeper" designation awarded by the American Institute of Professional Bookkeepers, have the best job opportunities. The median 2004 earnings of bookkeeping, accounting, and auditing clerks were $29,000.

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Source: Occupational Outlook Handbook, 2006-2007 Edition; Bureau of Labor Statistics, U.S. Department of Labor.