what is an accounts assistant?
An accounts assistant is a finance administrator working in a junior position in an accounting department. You support and report to financial managers and ensure the department accomplishes its financial tasks by working on bookkeeping and other financial administration.
Accounts assistants can find employment opportunities in all types of companies because finances are a major part of any business. Your role as a financial support employee is critical to a company's success, especially if the employees work with large quantities of financial data.
are accounts assistants junior accountants?
Accounts assistants are often confused with junior accountants as they also perform support roles for accountants. However, these are completely different roles. As an accounts assistant, you report to junior accountants who double-check entries and fix accounting errors. Due to your role in administrating financial accounts, you can work in various industries. These include professional companies, financial institutions and government offices. In most companies, you are in charge of all accounting tasks, although it's possible to specialise.
Would working in finance as an accounts assistant suit your mathematical and analytical skills? Then read on to find out what competencies and qualifications you need to thrive in an accounts assistant role.
accounts assistant jobsaverage accounts assistant salary
Compensation may differ depending on factors such as experience, location, and the employing company. On average, accounts assistants in Canada earn approximately $50,000 annually, with entry-level positions starting at $45,000 and more seasoned professionals earning up to $65,000 per year.
what factors affect your salary as an accounts assistant?
The salary of an accounts assistant in Canada is shaped by factors such as experience, education, and geographical location. Salaries can vary by region or city. For instance, the cost of living in urban areas tends to be higher, which may be reflected in higher salaries. Industry and company size also play a role, with larger and more prosperous companies often offering higher compensation. Specialized skills and effective negotiation during the hiring process can contribute to increased salaries. Additionally, economic conditions in the country impact overall salary trends, with growth periods potentially leading to higher earnings. Overall, understanding and navigating these factors can help individuals secure a more competitive salary in the field.
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access our tooltypes of accounts assistants
Some types of accounts assistants include:
- accounting clerks: as an accounts clerk, you are responsible for tracking and monitoring accounts and company transactions. You can work in any business to record accounts receivable and payable.
- bookkeeping clerks: as a bookkeeper, you can work in any business. Your job is to record transactions, store financial documents and analyse financial statements.
- auditing clerks: as an auditing clerk, you deal with more mathematical tasks. In this position, you audit financial documents for inaccuracies and provide solutions for errors.
working as an accounts assistant
Working as an accounts assistant involves helping companies keep track of their financial transactions. Let's explore the daily duties and responsibilities in the role.
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accounts assistant job description
Accounts assistants have several responsibilities when it comes to a company's finances. They include:
- maintaining accounting records: accounts assistants are responsible for documenting financial records appropriately. You use analytical tools to identify discrepancies in filings and correct the information to ensure financial books and ledgers are accurate. This bookkeeping involves sourcing and documenting bank statements and tax returns. You also keep all receipts, invoices and payment records in order. Expect to be responsible for maintaining all statutory accounts for entire financial years.
- administrative duties: as an accounts assistant, you have many administrative duties, including implementing financial procedures when they're introduced into the department. You also get involved in budgeting and preparing financial reports. You should expect to manage work schedules as required.
- dealing with clients and customers: accounts assistants liaise with third-party service providers for procurements and deal with customers when accountants are absent. Although these meetings are usually held over the phone, sometimes you have to hold one-to-one sessions when dealing with sensitive matters.
- processing transactions: as an accounts assistant, you are in charge of processing most of the company's invoices. You ensure that bills are correct and track late payments. Once customers have honoured the payments, you have to file them. You are also responsible for actualising your company's payments and keeping payment records.
- tracking expenditures: as accounting officers, accounts assistants are responsible for tracking departmental expenditures and reporting them to their superiors.
- operating office equipment: due to the complexities of financial recording and reporting, accounts assistants spend a lot of time with computers. You have to run accounting software, edit reports and print them for presentation.
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work environment of a accounts assistant
All companies require an accounting department to run smoothly, but each has its own way of operating. This means that accounts assistants are employed in different companies with diverse working conditions. However, all accounts assistants work indoors in either individual or shared offices.
As an accounts assistant, you deal with multiple financial files and work with computers most of the time. Expect to work in a highly collaborative environment under the supervision of one or more experienced accounting personnel. In addition, you liaise with clerks from all departments to make sure you have reconciled financial data correctly. In large industries, accounts assistants work in teams to complete large amounts of work. Accounts assistants can also work remotely or from home.
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who are your colleagues?
Whether you work in a consultancy or a private business, your colleagues might include credit controllers, bookkeepers and accounts technicians. You might also be working in close proximity to part-qualified accountants, auditors, mortgage brokers, as well as other specialists that could include credit managers, sales promoters, sales administrators, commercial agent roles and office managers.
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work schedule
The work schedule of accounts assistants is quite straightforward as the roles are generally fixed. Expect to work full-time with a 9 am to 5 pm weekday schedule. In most cases, accounts assistants do not work at night or over the weekend, especially on Sundays when most financial businesses are not open.
While you typically work 35 hours a week, you must occasionally work overtime to meet special deadlines. These usually include peak workdays when accounting reports for fiscal year ends are due. In these cases, you are compensated for overtime work. If you're a self-employed accounts assistant, your work hours are irregular. You work either part-time or on a contract basis for different firms. Due to this, your schedule includes travelling to offer services.
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job outlook for an accounts assistant
Job prospects are great for accounts assistants since they have various opportunities to specialise. Despite introducing accounting software, businesses still need junior accounting professionals to manage basic bookkeeping tasks. Accounts assistants can specialise in becoming accounts receivable or accounts payable experts. You can become an accountant or auditor when you have a few years of experience before moving to managerial positions like finance manager.
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advantages of finding an accounts assistant job through Randstad
Working with Randstad offers you a range of benefits:
- always a contact person you can fall back on and ask for help from
- many training opportunities
- a range of jobs in your area
accounts assistant education and skills
To become an accounts assistant in Canada, a common educational path is to obtain a diploma or degree in accounting, finance, or a related field. Many employers prefer candidates with formal education in accounting principles, financial management, and relevant software applications. Some accounts assistants may also pursue professional certifications, such as the Chartered Professional Accountant (CPA) designation, to enhance their qualifications. While specific educational requirements can vary among employers, having a foundation in accounting through formal education is generally advantageous for pursuing a career as an accounts assistant in Canada.
skills and competencies
Accounts assistants need a particular set of skills to carry out various accounting responsibilities competently. They include:
- analytical skills: mathematics is at the core of accounting. As an accounts assistant, you collect necessary financial data, analyse it, and make accurate calculations and conclusions. Strong mathematical and analytical skills enable you to notice disparities between reports and solve bookkeeping problems.
- computer skills: to make their work possible, accounts assistants rely on computer apps and software such as spreadsheets to record and store volumes of data. Therefore, you have to be knowledgeable about computing and have some experience with the relevant accounting software.
- listening and communication skills: since accounts assistants work in collaboration with other accounting experts, it's necessary to have the ability to interact and communicate well with other people. As an accounts assistant, you need good listening skills to learn from your superiors fast. You should also be very clear when passing on information. Constant communication will help you avoid errors in accounting records.
- strong attention to detail: precision is important for success as an accounts assistant. Being thorough when handling accounting records helps you deliver high-quality work. In accounting, the smallest errors can cause problems for even a large company if they're not resolved promptly.
- organisational skills: as an accounts assistant, your work can be complex, especially when dealing with many records in a large firm. You must be good at organising your work to beat deadlines and deliver exceptional results.
FAQs
Here are the most asked questions about working as an accounts assistant:
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what does an accounts assistant do?
The main duty of an accounts assistant is to help accountants and financial managers with their daily duties. You assist in implementing accounting procedures, filing tax returns and doing departmental budgeting. As an accounts assistant, you must track company transactions and ensure all payments are correct and on time. You also keep all financial documents updated and organised.
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what qualifications do you need to be an accounts assistant?
To qualify for an accounts assistant position, you need to prove your competence in financial matters. For instance, you need a degree in finance, accounting or mathematics. Having an ACCA or AAT certification also boosts your chances.
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is an accounting assistant role a good job?
While it takes a while to become an expert, an accounts assistant job is very rewarding. It is stable and involves a regular work schedule. Gaining more experience in the position also gets you better opportunities to work in different companies. With a background as an accounts assistant, you will find it easy to further your studies and obtain an accountancy position.
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how much do assistant accountants make?
On average, accounts assistants make about $50,000 annually. However, this varies across industries. For instance, although accounting assistants working as agents for professional public figures earn good salaries, they're lower than those in insurance.
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how do I apply for the accounts assistant job?
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