How to Become an Assistant Accountant(3 courses)
What do I need to study to become an Assistant Accountant?
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Definition of Assistant Accountant
An Assistant Accountant provides administrative support to senior members of a finance team. They are entry-level finance professionals who handle basic accounting tasks and help to improve the efficiency of the finance department.
Accounting Assistants may work closely with a single senior accountant or as part of a department in a large business or accounting firm.
Assistant Accountants help with monitoring and maintaining their companyâ€™s accounting records. Using databases, specialised software and spreadsheets, they input balances and calculate interest on bank accounts, investments and loans. They also aid in reconciling account statements, identifying and investigating discrepancies and generating finance reports.
Other duties of an Assistant Accountant typically include bookkeeping, preparing reports, payroll, general office administration and finalising month- and year-end accounts. During tax reporting periods, Assistant Accountants support the completion of company and client tax returns to comply with government legislation.
What are the responsibilities of an Assistant Accountant ?
- Checking invoices and detailing expenditures.
- Preparing and processing accounts payable and receivable documents.
- Researching and reporting costs of wages, proposed expenditure, quotes and business expenses.
- Producing bank reconciliations.
- Recording standard costs of things like raw materials, incidentals and packaging supplies.
- Dispatching payments and reconciling accounts.
- Organising budget allocations.
- Gathering data and generating reports on operational costs, budgets, inventory adjustments and profit and loss totals.
Career Outlook for Assistant Accountant
The average age of people working as is 43 with 17.00% of them being male. 62.90% of are employed full-time and they typically work around 36.6 hours per week.
Unemployment is average and, with A Bachelor Degree or higher, the average Community Worker can earn around $1,071 per week Before Tax. In 2015 there were 126,600 working and the future growth of the profession is predicted to be in decline, with numbers around 118,200 in 2020.