6 Common Accounting Bookkeeper Interview Questions & Answers

I think that each reporting method has its own merits. For example, when it comes to tax season, it is better to have cash basis reporting because it makes the process easier. However, accrual basis reporting gives the management a clearer financial report than cash basis. Because of the benefits of each, I think it is best when the tax accountant uses cash basis, but the accounting bookkeepers use an accrual basis reporting.

There are three main components to a balance sheet: liabilities, assets and equity. The common accounting equation is assets equals liabilities plus equity. The purpose of a balance sheet is to showcase the company’s current net worth and how the business is spending money. This can be an invaluable tool when financial analysis is necessary.

There are a few different methods a person could use to find an error in a ledger. Before I start trying to find the error, I would want to make sure the error is real. I would add up the column from the bottom up. If I got the same number as before, there is likely an error somewhere. First I would look for an entry of $75 to make sure that entry had been handled properly. If the error is still not evident, I would divide by nine in order to determine if the error is related to transposed numbers. If the error is still not evident, I would divide the difference by two and look for a misplaced credit or debit. If none of these methods show the error, this could point to an error in the ledger itself. I would take the time to look at the source documents until I could find an error.

I recently created a professional development plan. I have been a bookkeeper for a little over five years, and I felt like I was starting to get complacent, which in my opinion is bad for any professional. I sat down and made a development plan. In order to grow professionally, I had to consider my career goals. I love being a bookkeeper, but in the future I would like to have more responsibilities. I started pursing my Certified Public Accountant certification with the American Institute of CPAs. Once I complete that, I will be sure to keep my Continuing Professional Education membership up to date.

I was the only bookkeeper at my last job, so I had to keep all of the necessary records. I was in charge of keeping the cash, accounts receivable, accounts payable, loans payable, payroll expenses, inventory, sales and expense accounts reports throughout my tenure with the company. Being the only bookkeeper had its own challenges and benefits, but I did enjoy being able to get so familiar with the major financial reports.

I was the main financial contact for both vendors and clients. This meant I was getting notices of bills the business had to pay and I was sending out notices to the clients when their bills were due. This interaction gave me a chance to hone my communication skills and work on being more personable.