5 Reasons to Consider a Career in Bookkeeping

As long as there are businesses, there will be a need for bookkeepers. The field of bookkeeping is both interesting and in great demand. Bookkeepers work with numbers and provide a valuable service to businesses and individuals all around the world

According to the Department of Employment and Social Development Canada (ESDC), the outlook for employment opportunities for Bookkeepers over the next three years looks promising for those looking to join the industry or continue in it. Out of 13 provinces and territories, 9 have a “good” outlook for employment opportunities, while 4 have a “fair” outlook.

Source: JobBank.gc.ca

Here are the top 5 reasons to consider a career in Bookkeeping:

1. Excellent Jobs Prospects

No matter what the industry, Bookkeepers are a vital part of the smooth running of any company, and their work ensures the business’ finances are being managed, documented, and spent in the most effective way.

From roles in scientific, professional, and technical services, right through to retail, healthcare, and finance, the scope for a Bookkeeper is and will remain wide.

Bookkeepers are in great demand and on the increase. Once you’ve completed your education, you’ll have a great chance of finding work.

Labour market conditions over the next 10 years

For Accounting technician and bookkeepers, over the period 2019-2028, new job openings (arising from expansion demand and replacement demand) are expected to total 89,600, while 86,900 new job seekers (arising from school leavers, immigration and mobility) are expected to be available to fill them.

As job openings and job seekers are projected to be at relatively similar levels over the 2019-2028 period, the balance between labour supply and demand seen in recent years is expected to continue over the projection period.

Source JobBank.gc.ca

2. It Offers Flexible Working

Always wanted to work from home? Whether you want to work full time, part time for yourself or for someone else, there’s usually the option to choose. In fact, a career in bookkeeping is the perfect ‘work from home’ profession enabling your work commitments to be flexible, helping you manage your work and family life as you choose.

And when you choose a career in bookkeeping, you can choose how quickly you progress in the industry too. Work you way up the ladder or stay put, it’s up to you.

Numbers in Ontario

• 69% of accounting technicians and bookkeepers work all year, while 31% work only part of the year, compared to 63% and 37% respectively among all occupations.
• 26% of accounting technicians and bookkeepers are self-employed compared to an average of 12% for all occupations.

Source JobBank.gc.ca

3. High Earning Potential

In today’s environment, having a consistent wage may provide a great deal of security.

Bookkeepers make a good living, which increases with experience. A bookkeeper’s average annual pay in Canada (Ontario) is $52,000 with a high pay of $85,000. Within the industry, you can readily advance to higher-paying positions.

Consider a career in accounting if you want to make an income that allows you to pursue lifelong goals like travel and homeownership.

4. Opportunity for self-employment.

The dream of being your own boss is alive and well in the profession of bookkeeping. Bookkeeping offers an opportunity to be self-employed, running your own bookkeeping business. Work for businesses using an accounting software like QuickBooks Online and other software.

The work offers huge variety, lots of learning and with it, a high degree of personal satisfaction. For many it is the perfect job with plenty of flexibility.

Contract bookkeepers generally work a half day to 2 days per week at each business doing usual stuff – entering sales, purchases, receipts, payments, coding the bank feeds, doing a bank rec. and running GST. Some also process payroll and do pay day filing. They may also prepare reports, run budgets and cash forecasts and do other office tasks.
You can also take your career to next level by adding other services like payroll, sales tax, and income tax.

5. Passionate Career

Bookkeeping is an excellent career choice for anyone who like numbers. A bookkeeper’s duties and responsibilities necessitate a high level of attention to detail and patience. There’s no need to be concerned if you’re not a natural multitasker. To ensure accuracy, bookkeeping often needs you to concentrate on one financial condition at a time.

Consider a career in bookkeeping if you enjoy social situations. Client contacts on a daily basis allow you to interact with a diverse group of people. However, if you are more of an introvert, there are still many job prospects in bookkeeping for you. The role’s versatility makes it a fantastic fit for people of many personalities.

If you’re searching for a well-paying job with plenty of opportunities for promotion, Bookkeeping is a good option. If you’re searching for a well-paying job with plenty of opportunities for promotion, accounting is a good option.

At FinTech College, in our Accounting and Bookkeeping Career Pathway you can be a Professional Bookkeeper in less than a year.

Check our link for more details https://www.fintechcollege.ca/toronto/