Bookkeepers Salary

The ICB Financial Management programme is a scarce skills programme. It gives you the skills and knowledge to perform the financial activities of a business.

Bookkeepers are paid competitively. This is because they possess scarce skills.Your services are in demand with scarce skills. According to za.talent.com, here is what on average bookkeepers in South Africa earn:

  • Entry-level (0 to 4 years s of experience) – R 15 000.00
  • Middle level (5 to 9 years of experience) – R 17 541.00 
  • Senior-level (10 plus more years of experience) – R 30 000.00

Is Bookkeeping A Good Career?

The Skill Are Scarce

Yes, bookkeeping is a good career. Bookkeeping is a scarce skill. This means that there are not enough people who have bookkeeping skills. It is a skill that employers are always looking for. Here is why you should study bookkeeping:

  • The skills that you learn are scarce
  • Work anywhere
  • Good salary
  • Good prospects for promotion
  • Entry requirements are flexible

The Skill Are Scarce

You should study scarce skills because there is a demand for them in the job market. This means that employers are always on the lookout for people with the skills they need. It also means that when you complete your studies, you will have secured employment.

Work Anywhere

The good thing about scarce skills is that you are not restricted to where you can work. With a scarce skill qualifications, you can work anywhere in the world. With some scarce skills like accounting, you can also work in any industry. This also includes government institutions and not-for-profit organisations. You will have a wide range of industries to choose from.

Good Salary

Because your skills are scarce, this means that your salary is competitive. Remember the law of demand and supply. When something is on-demand, the value tends to increase. It is the same with scarce skills jobs. This also means that besides earning a high salary, you can have other perks such as the following:

  • Medical aid
  • Bonuses
  • Airtime allowance
  • Transport allowance 
  • Entertainment allowance
  • School fees allowance
  • Access to housing and car loans 

Good Prospects For Promotion

When you study a scarce skills course, most employers will not want to let you go. Employers will try to keep you in their employment for as long as possible. Your stay at a company may be sweetened by being promoted within a few months or years of being employed.

Entry Requirements Are Not Restrictive

Entry requirements to some scarce skills courses are flexible. In some cases, you will not even have to be in possession of a Matric Certificate in order to meet the entry requirements. Here are the minimum entry requirements:

  • Grade 10 (NQF 2)
  • Grade 10 Equivalent Certificate
  • No prior accounting knowledge needed
  • You must be 16 years or older
  • Able to read, write and understand English
  • Be able to study through distance learning

How Do You Become A Bookkeeper?

To become a Bookkeeper, you will have to study the ICB Financial Accounting programme, here are the requirements for the course:

If you do not meet the above requirements, you can complete the ICB Bridging Course.

The ICB Bridging course

The ICB Bridging Course is a programme for those who want to study ICB Courses but do not meet the minimum requirements. The ICB Bridging Course will qualify you to be a Junior Bookkeeper.  Here are the requirements for the ICB Bridging Course:

  • Grade 10 (NQF 2)
  • Grade 10 Equivalent Certificate
  • No prior accounting knowledge needed
  • You must be 16 years or older
  • Able to read, write and understand English
  • Be able to study through distance learning

Is Being A Bookkeeper Hard?

Studying bookkeeping can be easy if you follow these simple tips:

  • Have a study timetable
  • Stick to your timetable
  • Find other learning resources
  • Hand in your assignments on time
  • Interact with your tutor regularly
  • Ask questions on topics that you are finding difficult
  • Start revising  early for your exams
  • Get exam tips from Matric College
  • Write your exams
  • Pass your exams
  • Get certified 

What Are The Duties Of a Bookkeeper?

Here are some of the duties of a Bookkeeper:

  • Maintains the record of financial transactions 
  • Develops system to account for financial transactions
  • Defines bookkeeping policies and procedures
  • Balances subsidiary accounts 
  • Maintains general ledger 
  • Balances general ledger by preparing a trial balance
  • Maintains historical records 
  • Prepares financial reports 
  • Complies with legal requirements
  • Contributes to team effort 

Are Bookkeepers In High Demand?

Yes, Bookkeepers are in demand. Remember, bookkeeping is a scarce skill. Employers are always searching for scarce skills. You can secure employment within no time when you complete your bookkeeping qualification.

Do Bookkeepers Work Long Hours?

Bookkeepers usually work normal hours, that is, from 9:00 am to 5:00 pm. However, there can be instances where they will be required to work overtime if a certain target is to be met. In addition, the job of a Bookkeeper is usually office-based. There is very little travel if any

What Skills Do You Need To Be A Bookkeeper?

Here are some of the skills that are necessary for a Bookkeeper:

  • Communication – To be an effective Bookkeeper, you must be able to communicate well both within the organisation and outside the organisation. You should be able to communicate well both orally and in writing. It is important that you communicate well because issues of finance are critical such that they need to be managed well.  
  • Leadership – As a leader, you can lead Accounts Clerks. You must be able to lead from the front. This means that you should demonstrate to your subordinates what you expect of them. For example, if they are supposed to manage time well, be their example of how time can be managed.
  • Analytical – To be effective in your duties, you will need to analyse your financial reports and statements and come up with winning strategies. 
  • Time management – To be effective as a Bookkeeper, you will need to manage your time well. Deadlines, as well as appointments, must be met on time every time. 
  • Critical thinking – Where business finance issues are concerned, critical thinking becomes important. Critical thinking can determine whether you will be successful in your profession as a Bookkeeper. Some critical decisions that you make can make your superiors have confidence in you.
  • Computer – you should be computer-literate if you want to be an effective bookkeeper. Computer software is now being used in bookkeeping duties. Besides, computer literacy can help you with the following:
    • Communication
    • Storing data
    • Digital filing systems
    • Writing reports

What Can I Study After Being A Bookkeeper?

ICB Courses build on each other. Here are the courses that comprise the ICB Financial Accounting programme:

Author: Collin Wilbesi
Editor: Razeen Dollie
Date: June 14, 2022