ICB Senior Bookkeeper

The ICB Senior Bookkeeping courses equip students with advanced skills and knowledge to record financial transactions in a business entity or organisation

The ICB Senior Bookkeeping courses equip students with advanced skills and knowledge to record financial transactions in a business organisation.

How Do I Become A Senior Bookkeeper?

To become a Senior Bookkeeper, you will need to study the ICB Financial Accounting Programme and study the following courses:

These two (2) courses are studied successively. This means that you cannot study the next course unless you have completed the first one.

Bookkeeping: ICB National Certificate

To qualify to study for this course, here are the entry requirements:

  • Grade 10 (NQF 2) or Equivalent
  • You must be 16 years or older
  • Able to read, write and understand English
  • Be able to study through distance learning

Bookkeeping: ICB National Certificate – Subjects

Here is what you will study in this course:

  • Bookkeeping to Trial Balance (BKTB)
  • Payroll and Monthly SARS Returns (PMSR)
  • Computerised Bookkeeping (CPBK)
  • Business Literacy (BUSL)

Bookkeeping: ICB FET Certificate

To qualify to study for this course, here are the requirements:

Bookkeeping: ICB FET Certificate – Subjects

Here is what you will study in this course:

  • Financial Statements (FNST)
  • Cost and Management Accounting (CMGT)

What Does ICB Stand For In Bookkeeping?

ICB in Bookkeeping stands for Institute of Certified Bookkeepers. The Institute of Certified Bookkeepers is an Independent External Examination body. It is responsible for setting and managing the examination process only. What this means is that it does not provide any tuition or study material for ICB Courses

This was delegated to their accredited Learning Providers. Matric College is an accredited learning provider of the ICB. Here are some of the responsibilities of ICB:

  • Registering new students
  • Providing the Portfolio of Evidence(PoE) to students 
  • Registering students for exams
  • Approving Recognition of Prior Learning (RPL)
  • Setting the exam timetable
  • Marking the exams

What Is An ICB Qualification?

An ICB qualification is what you are awarded after completing a programme with ICB.  Here are the three types of qualifications that the ICB awards:

  • Diplomas 
  • Higher Certificates
  • Certificates (National and Further Education and Training)

Are ICB Qualifications Recognised?

Yes, ICB courses are recognised.  These courses are recognised by employers and the following professional bodies either for membership and/or exemptions:

  • Chartered Institute of Management Accountants (CIMA)
  • Association of Chartered Certified Accountants (ACCA)
  • South African Institute of Tax Professionals (SAIT)
  • South African Institute of Professional Accountants (SAIPA)

Are ICB Courses Accredited?

Yes, ICB Courses are accredited. They are accredited by the following bodies:

  • South African Qualifications Authority (SAQA)
  • Quality Council for Trade and Occupations (QCTO) 
  • Finance and Accounting Services Sector Education and Training Authority (FASSET)

Are Bookkeepers In Demand?

Yes, Bookkeepers are in demand. A Bookkeeping Course is a scarce skills course. A scare skills course consists of skills and knowledge that are in short supply. This means that employers are always looking for people with Bookkeeping skills. 

It also means it does not take long for a holder of a Bookkeeping Qualification to secure employment.

Is Bookkeeping A Good Career?

Yes, bookkeeping is a good career, here is why:

    • It is a scarce skill – Bookkeeping is a scarce skill. This means that you will not worry about job security. You can even have the luxury of looking for an employer who pays better than others.
  • You can work in any industry – A Bookkeeping Qualification will not limit you to any industry. The Bookkeeping function practised in all formal businesses in every industry 
  • You gain skills – When you study the Bookkeeping Courses, you can gain the following skills:
    • Communication skills
    • Numeracy skills
    • Time management skills
    • Critical thinking skills
    • Computer skills
  • Above average salary – Professions with scarce skills tend to pay higher. Bookkeeping is no exception.

What Are The Duties Of A Senior Bookkeeper?

Here are some of the duties of a Senior Bookkeeper:

  • Maintaining and operating a complete and systematic set of general books, including subsidiary ledgers, in accordance with a prescribed system of accounts
  • Classifying a wide variety of receipts and expenditures and distributing items accordingly 
  • Compiling and analysing a variety of Accounting and statistical information 
  • Prepares vouchers of receipts and payments for entry in ledgers
  • Posting entries and providing balances on various ledgers
  • Reviews and checks, a wide variety of account-keeping records and reports
  • Prepares budgets and maintains controls on budget accounts
  • Reconciles bank statements with cash books
  • Computes payments and charges and prepares statements 
  • Supervising the work of subordinate clerical staff

How Much Does A Senior Bookkeeper Earn In South Africa?

According to za.talent.com, in South Africa, the average Senior Bookkeeper salary is R 25 000 per month. Entry-level (with less than three (3) years of experience) positions start at R 19 595 per month, while most experienced (with more than 20 years of experience) Senior Bookkeepers earn an average of  R 64 222 per month.

How Do I Become A Freelance Bookkeeper?

Here are the steps that you can take to become a Freelance Bookkeeper:

    • Get qualified – To start your journey as a Freelance Bookkeeper, you need the following qualifications:
    • Get registered – Operate as a business. To operate as a business, you will need to be registered as a sole trader or as a company.
    • Open a business bank account – Since you will have registered as business, it is also important that you open a business account. This is in line with the country’s regulations.  
    • Register as a member of a professional body – Belonging to a professional body will make your profile powerful. Even your clients will feel comfortable dealing with you. 
    • Gain experience – If you have recently qualified, you may want to gain some experience. This experience can make your clients have confidence in you. Here is how you can gain some experience:
      • Get an entry-level job
      • Volunteer
      • Internship  
    • Pick a niche – You can choose to specialise in a certain industry. For example, you may want to specialise in keeping books for restaurants.
  • Market yourself – Here is how you can market yourself:
    • Get an online footprint:
      • Website
      • Social  media
    • Network
    • Advertise locally
    • Get referrals
    • Use word of mouth

Can A Bookkeeper Become An Accountant?

Yes, a Bookkeeper can be an Accountant. The progression of the ICB Financial Accounting is such that the first two courses, that is, Bookkeeping: ICB National Certificate and Bookkeeping: ICB FET Certificate will qualify you as a Bookkeeper while the last two courses, Technical Financial Accounting: ICB National Diploma and Certified Financial Accounting: ICB National Diploma will qualify you as an Assistant Accountant.

Is It Hard To Be A Bookkeeper?

It is not hard to be a Bookkeeper. Here are a few tips that you can use: 

  • Draft a study timetable
  • Make sure that there are no distractions at the place where you study
  • Read widely
  • Interact with your tutor
  • Ask your tutor questions on areas that you are finding difficult
  • Prepare thoroughly for your examinations

Author: Collin Wilbesi
Editor: Sive Ncanywa
Date: July 28, 2022