In this article we will discuss what a full charge bookkeeper is, as well as the duties and responsibilities of a full charge bookkeeper within a business.
What is a Full Charge Bookkeeper?
A full charge bookkeeper is someone who can handle end-to-end accounting tasks for a business.
The term "full charge" means that these bookkeepers can manage all of a businesses accounting tasks including creating financial statements, preparing taxes, and processing payroll.
In larger organizations, these more complex accounting tasks would normally be handled by an accountant or controller.
Full charge bookkeepers have greater responsibilities compared to regular bookkeepers and typically report directly to upper management.
What Does a Full Charge Bookkeeper Do? Duties and Responsibilities
A full charge bookkeeper is responsible for the same tasks as a normal bookkeeper as well as some tasks that may normally be handled by an accountant or controller.
Here is a list of duties a full charge bookkeeper may be responsible for:
- classifying transactions
- reconciling bank accounts
- managing accounts receivable and accounts payable
- issuing invoices
- paying bills
- creating journal entries
- processing payroll
- preparing financial statements
- preparing tax returns
- coordinating with the accountant or controller
Full Charge Bookkeeper vs. Bookkeeper: What's the Difference?
The difference between a full charge bookkeeper and a "regular" (or "in-house") bookkeeper is the amount of responsibility that each title demands.
A full charge bookkeeper is fully responsible for the entire accounting cycle of a business.
The title of "full charge" represents a more advanced position than that of a normal bookkeeper or in-house bookkeeper due to the increase in responsibilities.
A full charge bookkeeper can also be an in-house bookkeeper, or they can be an outsourced bookkeeper.
An in-house bookkeeper is an internal employee who performs general bookkeeping tasks for a business or other entity.
Normally, the in-house bookkeeper is mainly responsible for basic bookkeeping activities and does not generally take on any managerial work.
Full Charge Bookkeeper vs. Accountant: What's the Difference?
The difference between a full charge bookkeeper and an accountant is mainly the responsibility of interpreting and analyzing financial data.
Accountants are responsible for using the financial data organized by the bookkeeper to create forecasts and budgets for the purpose of advising senior management.
The main task of a bookkeeper is to collect, organize, and prepare financial data while the main role of the accountant is analyze that data and communicate to those in control of the company so that they have a clear picture of the business' financial health and position.
Full charge bookkeepers will likely be expected to complete tasks above and beyond that of a "normal" bookkeeper, such as processing payroll, but it is unlikely that a full charge bookkeeper would be expected to actually analyze the financial data for the management team.
Full Charge Bookkeeper vs. Controller: What's the Difference?
The difference between a full charge bookkeeper and a controller is that a controller normally has the power to influence a business and make financial decisions intended to drive a business forward.
A full charge bookkeeper likely has no say in the financial decision-making process as the main duty of a full charge bookkeeper is to record, classify, and organize financial data as transactions flow through the business.
The full charge bookkeeper and controller will usually work closely with each other as many of the controllers financial decisions will be based on the data organized by the bookkeeper.
When Should I Hire a Full Charge Bookkeeper?
You should hire a full charge bookkeeper if:
- you are not trained in bookkeeping
- your business can't support an accountant
- you have a junior bookkeeping team in need of supervision
- your current staff does not have time to handle miscellaneous bookkeeping tasks
- your business is growing at a rapid rate
What is a Full Charge Bookkeeper? Final Thoughts
A full charge bookkeeper has more responsibilities than a "regular" bookkeeper but the roles are still largely similar.
Both positions have the main job of recording and organizing financial information as transactions flow through a business, however a full charge bookkeeper will have further tasks to complete and may be expected to communicate more with the accountant or controller of the company.
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