In Canada, bookkeepers can set up their business and create a website describing what they do without any accreditation or specification. However, you will need some training and certification to become a professional bookkeeper. Bookkeepers can further their careers by obtaining certifications and licenses. These voluntary credentials allow curators to showcase their skills and demonstrate their strengths to prospective employers. Certification can also help increase their earning potential. Here let’s discuss and deeply explain that how to become a bookkeeper in Canada.
Do I need to be qualified to be a bookkeeper?
Taking an accounting program or getting certifications is not a prerequisite to work in the field, many bookmakers do for a variety of reasons:
- Accepting one of Canada’s accounting programs demonstrates that you have the basic knowledge to help your clients with their accounting needs.
- If you are new to the field, a Canadian accounting program that leads to accreditation is obviously a great advantage because you will be learning the profession and preparing for the certification exam.
- Earning one of the available certifications or accreditation demonstrates that you are a professional and have been recognized at an approved level.
- Most accrediting organizations require continuing education through accounting programs and other courses, so you’ll demonstrate your commitment to your career by earning the designation.
- A designation sets you apart from other bookmakers that don’t have one, making you a more attractive option than someone looking for a job or a new client deal.
- All accredited organizations offer benefits to their members, such as discounts for business partners, events and training sessions.
- You may be able to charge more or ask for a higher salary if you are in good standing.
- For those looking to set up their own business, having a nomination will make the business and your skills look much more professional.
Related to How to Become a Bookkeeper in Canada:
Key Skills to be a Good Accountant
In addition to accounting training, there are a number of other vital skills you’ll need:
- Numerical accuracy and attention to detail: Employed to keep things more orderly than the business owner can.
- Analytical Mindset: You enjoy solving problems and keep finding an answer
- Strong communication skills – You must be able to explain things simply to the business owner and gain their trust.
- Good organization and multitasking skills: If you run your own business, you will have more than one client and will have to juggle regular tasks with unexpected requests.
- Strong computer skills and a willingness to continue learning: Software and applications are constantly improving and you need to stay on top of things to understand what will best help your employer or your client’s business.
Types of Certificates for Bookkeepers
When considering the option of becoming an accredited bookkeeper or obtaining a designation in the field, it is important to do your research to determine which accreditors will help you the most and give you the best bang for your buck. Courses are available through technical institutes, polytechnics, colleges and universities. There are online courses where you can learn the basics of accounting. Some certifications, like those for QuickBooks or FreshBooks, are specific to the tools a bookkeeper uses. So if you have clients who only use these tools or work for a company that wants to know all about the tools, these can be good options for certification.
Other accreditation is offered through specific accounting organizations. These include the Canadian Bookkeepers Association (CBA), the Institute of Professional Bookkeepers Canada (IPBC), the Canadian Institute of Bookkeeping (CIB), and others. All are non-profit organizations dedicated to advancing the accounting profession and promoting its benefits for the benefit of members. These organizations offer accounting programs internally and through postsecondary institutions while establishing hands-on experiences for those in the field.
Accreditation allows a bookkeeper to use an organization designation, but this varies by organization. BFS refers to those who have earned their designation as a certified accountant. CBA uses the term Registered Professional Accountant and IPB goes with Certified Professional Accountant.
What does Bookkeepers do?
Bookkeepers are responsible for managing the daily financial activities of their customers. They monitor, record and facilitate all incoming and outgoing payments related to the account. Bookmakers primarily focus on maintaining the financial health and stability of their customers. They also protect their customers by making sure all financial transactions comply with federal laws and regulations. Bookmakers can work for companies or individuals and can be salaried employees or self-employed.
Other specific duties of a bookeeper include:
- Create and file financial reports.
- Update and review financial records.
- Editing and drafting budgets.
- Employee payroll management
- Notify your client of any financial discrepancies
- Monitor accounts payable and receivable
Before you go, I hope that the above article related to how to become a bookkeeper in Canada will be informational and beneficial for you.