A bookkeeper is a person who has a general knowledge regarding the record and paper flow in a business. A good office manager bookkeeper should have the knowledge regarding client invoicing and also its relation to accounts receivable. They must also know how a company purchases from its vendors and all the importance of coding invoices.
When you go for an interview for the post of office manager bookkeeper, you are asked many questions regarding the profession. A few sample questions and there prospective answers are as follows:
1. What are assets and liabilities ?
An asset is something of worth that benefits a corporation. Cash, inventory and other fixed assets come under the category of assets. Liabilities are something that is owed by the business to the outsiders. Bank loans and accounts payable are a few examples of liabilities.
2. What is a journal entry?
It is an entry made in the journal and posted afterwards in the general ledger. It records all the accounting information regarding business transactions of financial nature.
3. What is the difference between a balance sheet statement and a profit and loss statement?
A profit and loss or an income statement is used to measure how the company performed financially over a particular period of time. Whereas, a balance sheet statement shows the companies overall strength in terms of what the company has and what it owes to the outsiders.
4. What is depreciation?
It is a process that spreads out the amount of an asset over its useful time. There are several types of depreciations used by the companies but the most common method is the straight line method. This method simply divides the cost by useful years of the asset.
5. When are the expenses recognized under the general accrual basis of accounting?
All the expenses are recognized when they happen in this type of accounting. For instance: when a purchase is made with net 30 day terms, then that particular purchase is recorded at the time of obtaining the goods or services.
You must keep in mind in some cases an office manager bookkeeper is skilled of running all the accounting functions of a company. You must have an associate or a bachelor’s degree in accounting.
These are some of the typical questions that you can be asked if you go for an interview for the post of Office Manager Bookkeeper.
