The job market for bookkeepers in the United States

We find experienced bookkeepers and provide them with more than 200 hours of training in Australian accounting practices, plus Xero. Find out more about the TOA Global Accelerator Program for Bookkeepers here. As a result, bookkeeping services providers have experienced an increase in demand for their services as businesses look to navigate the complex financial landscape. Overall, it has created opportunities for providers to showcase their value and support businesses in their time of need which will serve the growth of the market in the future. Contact us to talk about how elite global bookkeeping talent can save you time, increase your billable hours, and eliminate the stress of retaining and growing your team. Contact us if you’d like to talk about how elite global bookkeeping talent can save you time, increase your billable hours, and eliminate the stress of retaining and growing your team.

• Their exit from the workforce will open up positions that need to be filled.
• However, employers today may prefer candidates with a relevant degree or certificate.
• TOA Global has in recent years seen significant growth in the use of global bookkeeping talent with more firms tapping into the benefits of global team members.
• While these requirements may sound tedious, they could benefit your career in the long term.
• Additionally, advancements in technology have made it easier for bookkeeping service providers to deliver their services remotely, further fueling the growth of this market.
• As your business grows and you begin making higher profits, hiring staff and handling more transactions, however, it may make sense to outsource the details of bookkeeping to someone else.

While the methods and tools have changed dramatically, the core need for accurate financial record-keeping remains in every type of business. Bookkeepers earn a median annual salary of $45,860, according are bookkeepers in demand to the U.S. However, a bookkeeper’s salary varies depending on their education, location and level of experience. A typical bookkeeping certification course takes several weeks to complete.

Bookkeepers are in great demand

Business owners still value a good bookkeeper’s strategic input when making decisions. Earning a bookkeeping certification involves weeks of studying, hours of test preparation and a significant financial investment. Additionally, maintaining a bookkeeping certification from NACPB or AIPB requires continuing professional development. The ambitious bookkeeper should focus on growing their skills alongside the cloud and be encouraged to develop a deep understanding of your business and the industry.

The Accounting Today 2022 Year Ahead Survey shows that 51% of firms list their biggest challenge as keeping up with regulatory change. As legislative changes show no sign of slowing, remaining compliant will continue to be an issue for many firms. According to the World Economic Forum, three-quarters of employers looking to fill positions in 2022 were unable to find the talent they needed – up 6% since last year. In 2012, the figure was 34% which means the skills shortage has doubled to 75% in the last decade. Visit Job Bank’s page for foreign candidates to review your options and find jobs from employers who are recruiting outside Canada.

What’s the supply of bookkeepers?

Detailed knowledge of accounting principles and best practices is essential. In small businesses, payroll bookkeeping is usually included in bookkeepers‘ general duties. Larger companies or public organizations may hire payroll bookkeepers as a separate role. A bookkeeping career focusing on payroll duties involves time tracking, benefits management, and wage distribution. Bookkeepers who specialize in this area also tie their work to the revenue or funding sources that finance outgoing payments.

I didn’t go to what felt like the traditional route of going to a Big Four accounting firm. The BLS projects a 3% decline in the number of bookkeeping jobs between 2020 and 2030. Accounting software has become more sophisticated, automating tasks that bookkeepers used to perform. It was once common for a high school diploma to serve as the minimum education for an entry-level bookkeeping job.

Salary by Experience

Since bookkeeping is a more straightforward process than accounting, it is something that many people can (and do) opt to take care of themselves. As your business grows and you begin making higher profits, hiring staff and handling more transactions, however, it may make sense to outsource the details of bookkeeping to someone else. There are dozens and dozens of bookkeeping options available and the choices may seem overwhelming.

However, employers today may prefer candidates with a relevant degree or certificate. As expected, there is an increasing demand for bookkeepers who have certified qualifications and are registered with Association of Accounting Technicians or the Australian Bookkeepers Association. Already there is a demand for certified and experienced bookkeepers, and it will get increasingly difficult for those without these credentials to find work. Bookkeeper salary levels vary by location, based on factors like local labor market conditions and local living costs. In these cases, employers may increase their pay rates to attract the best available candidates. Industry observers agree that software improvements have made bookkeeping more efficient.