Challenges bookkeepers face Most people would say that the work of a bookkeeper is hard. In addition to having basic bookkeeping education, one should be familiar with laws. Frequent changes in the legislation further complicate this work.

Here's an easy way to think about it—bookkeepers lay the groundwork by recording financial transactions so that accountants can analyze financial statements and provide strategic recommendations.

In order to keep accurate records, and be able to account for all transactions that have affected your net worth, you need receipts, records, invoices, statements, bill of sales, and market value estimates, for everything that comes into or leaves your possession, for which a dollar value can be assigned.