JOB DESCRIPTION AND RESPONSIBILITY
Full Charge Bookkeeper: Job Description, Duties, KRA, KPI and More
Share this post
Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on email
Introduction
A full-charge bookkeeper performs accounting and bookkeeping an organization, typically small or medium-sized businesses where they have to manage all of the business’s accounting needs, Besides the typical task of maintaining the business ledger, these bookkeepers prepare financial statements and tax returns, record complex transactions and process timesheets and payroll.
Do You Want to be a Full Charge Bookkeeper? To build a career as a Full Charge Bookkeeper you need to first understand the Job profile and responsibilities of the job
This blog gives you a detailed idea of what it is like to become a Full Charge Bookkeeper in the Accounting and Finance Industry of India.
Soft Skill, Technical Skills and Certification:
Accounting Skills
Bookkeepers use accounting skills to record financial data, prepare reports and maintain financial records. Employers often hire bookkeepers with accounting skills, but office managers often need to understand accounting processes to ensure the company’s records are accurate and complete.
Interpersonal and Communication Skills
Bookkeepers often communicate with clients and other professionals in the business world. Effective communication skills can help you convey information clearly and answer questions. You can also use communication skills to resolve conflicts and build relationships with others.
Organizational Skills
Organization skills are critical skills for bookkeepers and office managers. These professionals often have many tasks to complete each day and keeping track of their work and staying organized can help them complete their work efficiently.
Leadership Skills
Bookkeepers can use their leadership skills to motivate and inspire their teams. Effective leaders are able to motivate their teams to work harder and achieve their goals. As an office manager, you can use your leadership skills to motivate your team to complete their daily tasks and help them develop their skills.
Job description
Full-charge bookkeepers are professionals who oversee all aspects of the bookkeeping process and commonly work with accountants and auditors to ensure that financial records are accurate, complete, and compliant with relevant regulations. Full-charge bookkeepers may also be tasked with developing systems procedures to improve efficiency or accuracy. The Full charge Bookkeeper also has to create automated reports or databases to make it easier to track transactions or generate reports in the future.
Job Roles and Responsibilities
- Manage accounts payable and accounts receivable
- Reconciling cash, bank accounts, and revenues
- Maintaining an accurate general ledger
- Make journal entries for all accounts
- Look after cash flow
- Reviewing and approving invoices
- Create financial reports such as profit and loss statements, balance sheets, and cash flow statements
Key Result Areas(KRA)
Key Performance Indicator(KPI)
| SR.NO | KRA | KPI |
|---|---|---|
| 1 | How many accounting activities for the company are completed executed in a whole month | No.of accounting activities for the company are completed executed in a whole month |
| 2 | How many accounts payable processing are done in a month | How many accounts payable processing are done in a month |
| 3 | How many entering vendor expenses are executed in a month | No.of entering vendor expenses are executed in a month |
| 4 | How many bank statements are prepared in a month | No.of bank statements are prepared in a month |
| 5 | How many clients and customers invoices are reaised in a month | No.of clients and customers invoices are reaised in a month |
| 6 | How many accurate General ledger entries are execeuted in a month | No.of accurate General ledger entries are execeuted in a month |
| 7 | How many employee timesheets are completed in a month | No.of employee timesheets are completed in a month |
| 8 | Has the Monthly payroll execeuted on time and report shared with Mangement | No.of Monthly payroll execeuted on time and report shared with Mangement |
| 9 | How many monthly and quarterly financial statements are execeuted in a month | No.of Monthly and quarterly financial statements are execeuted in a month |
Example of KRA VS KPI Mapped in Organisation and Reporting
| SR.NO | Reporting By Employee | Employee Reporting |
|---|---|---|
| 1 | How many accounting activities for the company are completed executed in a whole month | Accounting activities for the company are completed executed in a whole month=12 |
| 2 | How many accounts payable processing are done in a month | How many accounts payable processing are done in a month |
| 3 | How many entering vendor expenses are executed in a month | Entering vendor expenses are executed in a month=12 |
| 4 | How many bank statements are prepared in a month | Bank statements are prepared in a month =5 |
| 5 | How many clients and customers invoices are reaised in a month | Clients and customers invoices are reaised in a month=18 |
| 6 | How many accurate General ledger entries are execeuted in a month | Accurate General ledger entries are execeuted in a month =20 |
| 7 | How many employee timesheets are completed in a month | Employee timesheets are completed in a month =55 |
| 8 | Has the Monthly payroll execeuted on time and report shared with Mangement | Payroll execeuted on time and report shared with Mangement =Yes , Report shared with Management |
| 9 | How many monthly and quarterly financial statements are execeuted in a month | Monthly and quarterly financial statements are execeuted in a month= 2 |
Requirements
Eligibility
After 10th | After 12th | Graduation | Post-Graduation |
The candidate must have appeared in 10 from any recognized educational board. | The Candidate then has to appear for the HSC exam from a recognized board | Interested candidates can undertake a bachelors degree, which is a 3-year degree program | The candidates can also pursue a master’s degree so that they can have better career opportunities. |
The candidate should try to gain at least a minimum of 50-60% marks to be eligible to enter the Commerce stream | Most Full Charge Bookkeeper appear in the commerce stream. |
These are some of the better options for a bachelor’s degree | They can pursue a Master’s Degree such as a Master of Commerce (M. Com) or MBA in Accounting or Finance, which can be up to 2 years |
The candidate should try to gain at least a minimum of 50-60% marks. Then, only they will become eligible for the bachelor’s course | After Graduation, the student can either search for a Job or go for a Master’s Degree | The Candidate must have at least 1 to 2 years of Experience in the sector at a starting position to get a high paying and good position in a reputed organization. |
Best Colleges in India
Colleges | Location |
Indian Institute of Management, | Bengaluru |
Indian Institute of Management, | Kozhikode |
National Institute of Securities Markets, | Navi Mumbai |
MICA | Ahmdabadh |
Indian School of Business, | Hyderabad |
Best Colleges in Mumbai
Colleges | Location |
Narsee Monjee College of Commerce & Economics, | Mumbai |
K J Somaiya College of Arts and Commerce | Mumbai |
Kishinchand Chellaram College | Mumbai |
Career Path
Career | Description |
Finance Manager: | Finance Managers oversee the financial operations of an organization. They advise on investment plans, monitor the company’s finances, and produce financial reports. They work closely with management to develop and implement strategies and plans to achieve the company’s long-term objectives. |
Billing Specialist: | The billing specialist oversees the tasks of sending invoices to clients and monitoring outstanding balances to ensure each account is paid on time and in full. They help our organization keep track of how much money is owed and by whom, often managing numerous client accounts at once |
Accountant: | An Accountant helps businesses make critical financial decisions by collecting, tracking, and correcting the company’s finances. They are responsible for financial audits, reconciling bank statements, and ensuring financial records are accurate throughout the year |
Payroll Specialist: | A payroll specialist is required to process the salary and payment and manage the budget of the company as well as excuses. |
Credit Manager: | Credit managers are responsible for overseeing the credit granting process for a company. Their job is to optimize company sales and reduce bad debt losses by maintaining the credit policy. |
Accounting consultant: | Rather than managing day-to-day transactions, as bookkeepers do, their core responsibilities are to analyze financial documentation, provide recommendations on how to improve profitability, forecast future expenditures and revenues, and ensure that financial regulations occur |
Chief financial officer: | A Chief Financial Officer (CFO) is a senior executive responsible for managing the financial actions of their company. They are often in charge of tracking cash flow, analyzing strengths and weaknesses in the company’s finances and overseeing all aspects of its financial success |
Salary
full charge bookkeeper Salary in India ranges between ₹ 1.8 Lakhs to ₹ 10.9 Lakhs with an average annual salary of ₹ 3.5 Lakhs, however, The Amount may vary through different factors like cities, experience workflow, and workload.
Conclusion
With Experience in accounting and bookkeeping one can build a successful career as a Full Charge Bookkeeper. Usually, they start as an intern or in a junior post and have to work to the level of being a senior Full Charge Bookkeeper. They must also be familiar with the latest tax laws and regulations and other soft skills.
