Freelance Bookkeeping: Job Profile

In a freelance bookkeeping career, you have to maintain a record of financial transactions. Transactions like sales, income, payments and purchases by an individual or an organization are considered. As a bookkeeper, you will be responsible for the authenticity of these transactions. You would be involved in enabling the book to be eligible for the trial balance stage.

Required Qualifications

Becoming a freelance bookkeeper does not require that much training and qualifications. Having an ability to keep a track of the money flow is the basic criterion. The qualifications or characteristics required for freelance bookkeeping are:

  • An associates degree in finance or accounting.
  • Awareness and knowledge of bookkeeping software.
  • Having a diploma in accounting or finance is also valid.
  • Strong and developed interpersonal skills, attention to detail and staying organized. 

In terms of qualifications required for becoming a freelance bookkeeper, the options are quite flexible. The qualifications vary from one organization to another and depend on its size. Your worth ethic, ability to connote trust and professionalism will be the determining factors in regards to your success and personable work load.

Duties and Responsibilities

As a freelance bookkeeper, you would be working with information systems and business documents. Organizing documentation, entering data, reports reviewing and other such tasks would be your responsibility. The basic duties you need to perform in freelance bookkeeping are:

  • Preparation and issuance of purchase orders and work flow requests.
  • Perform invoice matching with purchase orders.
  • Determine the validity and generate checks for the payment of invoices.
  • Maintain the accounts receivable system with appropriate data like the account number.
  • Follow up on receivables that are outstanding.
  • Perform bank reconciliation and bank deposits.
  • Maintain the documentation for the inventory system.
  • Maintain the documentation for every employee and manage his payroll.
  • Prepare pay statement and payroll checks or deposits.
  • Prepare financial reports and statements.
  • Prepare reports, forecasts or budgets as required by the clients. 

Working Conditions

You have the liberty of working from home as a freelance bookkeeper. However, during the peak periods, especially when the books close for the month, you may have to work overtime. As a bookkeeper, you will have to direct yourself to do work. Maintaining a superb level of concentration and accuracy is a must while bookkeeping.

Salary and Job Opportunities

According to the Bureau of Labor Statistics, the average salary of a bookkeeper is $16 per hour, as of May 2008. The demand for experienced and quality freelance bookkeepers has increased a lot. The increase in automation and company downsizing will merge the clerical functions. In addition to bookkeeping, you would be expected to carry out the functions of an accountant. Many companies now outsource their work to freelance bookkeepers. The opportunities are provided in departments like payroll, billing and services to some other clients. More information on job opportunities is available on ifreelance.com. With experience you could be promoted to positions in accounting, human resources or auditing.