If you’re looking for a well-paying career that offers stability and room for growth, look no further! This blog post will break down payroll vs bookkeeping, which are both suitable for organized, detail-oriented individuals who are good with numbers. If this sounds like you and you’re looking to start a career, which one should you choose—payroll or bookkeeping? You probably have many questions, like “what is the average bookkeeper salary?” or “where can I take payroll admin courses?” There’s no need to worry—we’re here to help!
This blog post will outline the difference between payroll and bookkeeping, specifically the duties, salary, and education required for the two fields. By the time you finish reading this blog post you’ll know whether Sprott Shaw College’s Bookkeeping program or Payroll program is a better fit for you.
Payroll vs Bookkeeping: Duties
Payroll vs Bookkeeping: Education
Payroll vs Bookkeeping: Salaries
Launch Your Career with Sprott Shaw College
If you have any questions about the differences between payroll vs bookkeeping or are looking to learn more about our bookkeeping and payroll courses, our advisors are happy to help answer your questions!
Payroll vs Bookkeeping: Duties
Payroll Administrator responsibilities revolve around employee pay and benefits. They maintain employee records and track vacation days, leave, and overtime so they can calculate how much employees should be paid and what benefits they are entitled to. Payroll Administrator responsibilities also include preparing statements of earnings, which show an employee’s gross earnings and net earnings after deductions, such as taxes, insurance, and pensions plans. A Payroll Administrator is a company’s expert on pay, benefit plans, and collective agreement terms.
Although they also work with money and numbers, bookkeeper job duties vary from payroll in that they are focused on a company’s everyday financial records. Payroll Administrators are solely focused on employees’ pay and benefits, whereas Bookkeeper job duties are concerned with the financial transactions of the company as a whole. For example, they balance accounts, create budgets, analyze return on investments (ROI), prepare tax returns, create financial reports, and make sure that bills are paid.
Payroll vs Bookkeeping: Education
In terms of post-secondary education, both payroll and bookkeeping typically require college diplomas or certificates in their respective specialties, or a diploma or degree in the broader accounting field.
The best way to become a Payroll Administrator is by enrolling in a Payroll diploma program, or a broader accounting program, which would likely contain payroll admin courses. Some payroll positions may require Payroll Compliance Practitioner (PCP) certification from the National Payroll Institute (NPI), which can be obtained by completing PCP courses and having one year of payroll experience. With a PCP certification, Payroll Administrators are more likely to get hired and earn higher wages.
The most straightforward path to becoming a Bookkeeper is by enrolling in a bookkeeping diploma program or a broader accounting program. Alternatively, individuals who have completed bookkeeping courses and/or already have experience with bookkeeping, payroll, or financial clerk duties may be qualified for bookkeeping positions. However, if you’re just getting into the field, your best bet to getting hired is by obtaining a bookkeeping diploma.
Payroll vs Bookkeeping: Salaries
Salary is one of the major differences between payroll vs bookkeeping. According to WorkBC, a Payroll Administrator salary is over $62,000 on average, with hourly wages ranging from $20 to over $43 an hour. There’s room to grow in the payroll field—entry-level positions usually provide considerable potential for advancement and higher pay. Even in entry-level positions, a Payroll Administrator salary can be quite high!
On the other hand, a Bookkeeper salary is more than $56,000 on average, with hourly wages ranging from $19 to over $44 an hour, according to WorkBC. A bookkeeper salary can increase steadily with experience and training, and they can oftentimes work towards management positions with higher pay.
Launch Your Career with Sprott Shaw College
At Sprott Shaw College, our payroll admin courses cover accounting fundamentals, software training, and compliance requirements. Our Payroll program is offered through three different delivery methods: you can attend class in-person, complete the program entirely online, or have a combined delivery method so you get the best of both worlds! In just eight months (33 weeks) our payroll admin courses will equip you with the knowledge and skills needed to thrive in this career.
Our bookkeeping program is also just eight months (33 weeks) long. Like our Payroll program, we offer bookkeeping courses online, in-person, or a combination of the two. Our bookkeeping courses cover accounting fundamentals, income taxation, word processing, spreadsheet applications and much more.
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Whether you’re ready to enroll or you have more questions about bookkeeping and payroll courses or admission requirements, our advisors are here to help. Click the button below to reach out and we’ll get back to you soon!