Bookkeeper

Salary/Compensation

In the Philippines, a bookkeeper’s entry level salary ranges from P8,000 - P10,000 per month and may even go up to P15,000 per month for those highly-trained and experienced. In the US, an entry level
Bookkeeper receives $1,973 - $2,850 per month.

Basic Educational Requirement

Although a college degree is seldom required, some employers require a four-year business course and applicants to be computer-literate; knowledge of word processing and spreadsheet software is definitely an advantage.

Cost of Education *

High school education would normally range from P25,000—P40,000 per year in private schools and institutions and about P3,000—5,000 in public institutions. For those who want to work abroad and for career advancement in the hotel and restaurant industry, a four year course in B.S. in Hotel Restaurant and Management (BSHRM) would normally cost around P35,000 to P45,000 per semester in private schools and universities. However, in public educational institutions that offer the same discipline, tuition fee would cost about 20%-40% less.

Employment Opportunities

College graduates may accept bookkeeping positions to get into a particular company or to enter the accounting or finance field with the hope of eventually being promoted to professional or managerial positions. A bookeeper can work in the following industries: Manufacturing, Electricity, Gas and Water Supply, Construction, Wholesale and Retail Trade, Repair of Motor Vehicles, Motorcycles and Personal and Household Goods, Hotels and Restaurants, Transport, Storage and communication, Real Estate, Renting and Business Activities, Public Administration and Defense, Compulsory Social Security, Education, Health and Social Work and, Other Community, Social and Personal Service Activities.

Prospects for Career Advancement

Bookkeepers may advance by taking on more duties in the same occupation for a higher pay or by transferring to a closely related occupation.

Nature of Work

A Bookkeeper is the organization’s financial record keeper. He/She updates and maintains one or more accounting records, including those which tabulate expenditures, receipts, accounts payable and receivable, and profit and loss.

Tasks

  • Receives and records invoices and arranges payment;
  • Prepares and sends invoices to debtors;
  • Prepares regular reports and summaries of accounting activities;
  • Verifies recorded transactions and report irregularities to management; and
  • Prepares reconciliations of accounts.

Skills and Competencies

  • Knowledge in Microsoft Excel and other bookkeeping software;
  • Mathematical and analytical skills;
  • Ability to concentrate in details;
  • Aptitude for figures;
  • Well organized;
  • Ability to work as part of a team;
  • Must be able to meet deadlines; and
  • Aptitude for working with computers.

Physical Attributes and Characteristics

  • Must be flexible;
  • Good communication skills;
  • Can work well in a team;
  • Good attention to detail;
  • Capable of multi-tasking; and
  • Resourceful, reliable, and responsible.

* Based on 2011 rates.