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The differences between finance officers and bookkeepers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become a finance officer, becoming a bookkeeper takes usually requires 4-6 years. Additionally, a finance officer has an average salary of $68,822, which is higher than the $40,337 average annual salary of a bookkeeper.
The top three skills for a finance officer include real estate, financial data and origination. The most important skills for a bookkeeper are payroll tax returns, customer service, and reconciliations.
| Finance Officer | Bookkeeper | |
| Yearly salary | $68,822 | $40,337 |
| Hourly rate | $33.09 | $19.39 |
| Growth rate | 17% | -5% |
| Number of jobs | 140,730 | 38,481 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 46% |
| Average age | 46 | 51 |
| Years of experience | 8 | 6 |
A finance officer is responsible for monitoring the financial department and the transactions of an organization. Finance officers analyze financial reports, update account statements, and oversee the budget allocation for business operations. They also resolve billing discrepancies and banking issues, assist in cash statement release, and manage payroll disputes. A finance officer conducts data and statistical analysis to evaluate the company's financial performance and stability and identifying opportunities to increase revenues and grow more profits.
Bookkeepers are employees who are in charge of the company's general ledger. They are well-versed in basic accounting principles, and they apply these in their work. Bookkeepers manage the entry of items in the general ledger, assign items into their proper categories, and ensure that the entries are balanced. They also act as auditors by checking the accuracy and veracity of the receipts or vouchers in their possession before entering them into the system. Bookkeepers ensure that their files are up to date and free of errors.
Finance officers and bookkeepers have different pay scales, as shown below.
| Finance Officer | Bookkeeper | |
| Average salary | $68,822 | $40,337 |
| Salary range | Between $42,000 And $110,000 | Between $30,000 And $52,000 |
| Highest paying City | Boston, MA | Washington, DC |
| Highest paying state | Delaware | New York |
| Best paying company | Citi | NTT Data International L.L.C. |
| Best paying industry | - | Manufacturing |
There are a few differences between a finance officer and a bookkeeper in terms of educational background:
| Finance Officer | Bookkeeper | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 46% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance officers' and bookkeepers' demographics:
| Finance Officer | Bookkeeper | |
| Average age | 46 | 51 |
| Gender ratio | Male, 52.7% Female, 47.3% | Male, 15.4% Female, 84.6% |
| Race ratio | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 10.1% White, 63.4% American Indian and Alaska Native, 0.3% | Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.4% Asian, 6.6% White, 67.6% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 11% | 7% |