Accounting Assistant Career Guide

What is an accounting assistant?

An accounting assistant is a professional who provides crucial support to an accounting department. Their role primarily involves handling basic bookkeeping and accounting tasks, helping ensure financial records are accurate and up to date.

While they often work under the supervision of a senior accountant or accounting manager, their contribution is vital in maintaining an organization’s financial integrity. Their work aids in painting an accurate picture of an organization’s financial health, which is instrumental for managerial decision-making and compliance with regulatory standards.

Duties and responsibilities

Accounting assistants are responsible for various tasks that help streamline the financial processes of an organization. Their duties often include data entry of financial transactions, reconciling bank statements, preparing and sending invoices, assisting with payroll, and maintaining financial records.

They may also be tasked with producing basic financial reports, processing expenses, and supporting the preparation of tax returns. Additionally, these assistants often collaborate closely with other accounting team members, providing the necessary documentation and information to facilitate more complex financial analyses or audits.

Work environment

The typical work environment for an accounting assistant is an office setting, whether within a large corporate environment, a smaller private company, or an accounting firm. The nature of the job requires them to spend substantial amounts of time at their desks, working with computers and various accounting software.

They often have their own workspace but might work in more open environments where collaboration with other members of the accounting and finance teams is frequent. The atmosphere is generally professional, and there’s an emphasis on attention to detail, accuracy, and confidentiality, given the sensitive nature of financial information.

Typical work hours

Accounting assistants usually work standard office hours, from Monday to Friday, totaling around 40 hours per week. However, during certain periods, like the end of the fiscal year or tax season, they might face increased workloads and may need to put in additional hours or work weekends to meet deadlines and complete all necessary tasks.

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How to become an accounting assistant

In order to become an accounting assistant, you will need a combination of education, training, and experience. In this career guide section, we cover the steps you’ll need to take to achieve your goal:

Step 1: Complete education requirements

Once you’ve earned your high school diploma, you’re ready to consider your options for secondary education. For all jobs in accounting, it’s important to have your bachelor’s degree in finance or an accounting-related field. Search for an accredited college or university near you to learn more about their degree programs.

Step 2: Take accounting classes and training

Once you have a bachelor’s degree, you can take some additional classes to earn certifications and add to your resume. There are certifications to prove you have all the basic skills required to complete the job successfully. Here are some of the options available to take while looking for jobs:

• Dive into the specifics of analyzing statements with the Accounting & Financial Statement Analysis training course. You’ll learn to build a balance sheet and understand the accounting equation and the principle of double entry.
• Take the Accounting & Bookkeeping Masterclass from Udemy to bring your understanding of accounting to a new level. You’ll learn about the basics and dive into more complex transactions, like discounts and sales tax. 
• Udemy offers a Financial Accounting course. It covers the basic accounting principles, like debits and credits, financial statements, and the difference between accrual accounting vs. cash accounting. 
• Learn about bookkeeping and become certified with the Intuit Bookkeeping course from Coursera. The certificate shows your knowledge of bookkeeping fundamentals and provides hands-on practice with real-world scenarios. 
• The Fundamentals of Accounting Specialization course from Coursera is an option to learn more about the “language of business.” Accounting is an important aspect to understand for anyone in business.
• Another great option from Coursera that offers a more specific deep dive is Create a Financial Statement using Microsoft Excel. You’ll get the information required to create a transactions page, a profit and loss statement, and a balance sheet, all within Microsoft Excel. It’s a great addition to your resume.
• Accounting for Decision Making is a course that will provide information and tools to help you answer two important business questions, “What do I have?” and “How did I do over time?” This course will help you have more productive conversations in a business environment and highlight the importance of accounting when making decisions.

Step 3: Find a job and gain hands-on training

Start applying for entry-level accounting positions at companies that interest you. They are typically listed on job search engines or job boards. Talk to your faculty advisors in college as well to see if they have any connections for internships or jobs that you can apply for to get started.

Step 4: Continue your education and get certified

Once you’ve started your career and are ready to move up and learn more, consider getting certified in one of the standard accounting certifications or continue your college education and pursue a master’s degree.

• Certified Public Bookkeeper (CPB) – CPBs must pass a four-part exam, complete 24 hours of continuing education each year, and agree to abide by a professional code of conduct.
• Certified Public Accountant (CPA) – A CPA must take a licensure exam; each state’s requirements vary. However, most candidates need a bachelor’s or master’s degree in accounting.
• Certified Management Accountant (CMA) – This certification goes beyond a CPA. Most candidates get a CMA to do so before applying for executive-level positions.

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How much do accounting assistants make?

There are many variables that go into determining how much an accounting assistant makes, from company size to experience to education just to name a few. Here are the top-paying places of employment and specific industries for accounting assistants are (shown in annual mean salary):

• Finance and Insurance – $46,910
• Professional, Scientific, and Technical Services – $46,640
• Wholesale Trade – $45,930
• Healthcare and Social Assistance – $41,100
• Retail Trade – $37,710

Browse accounting assistant salary data by market

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Types of accounting assistants

This career guide section highlights the various career types and areas of specialization for accounting assistants. Below, we highlight the unique attributes and responsibilities of each job title.

Tax accounting assistants

Tax accountants work to prepare tax returns, make payments to the government, and help both individuals and companies minimize the burden of taxes. They work with companies to ensure their financial records are accurate and avoid problems with the government or investors. 

Forensic accounting assistants

Some firms specialize in forensic accounting, which reviews records and looks for any wrongdoing or criminal behavior. These accountants are often called expert witnesses in court cases. Some project-specific accountants work with a project manager to assess the budget and timeline for certain projects, help them cut costs, and stay on top of payments and invoices. 

Government accounting assistants

Government accountants work with cities, counties, states, and federal government groups on their budgets. They help ensure that taxpayer money is spent wisely and keep an eye out for any troublesome transactions. It’s essentially someone responsible for keeping government agencies in line and sticking to their obligations.

Investment accounting assistants

The last major role for accountants is in the investment space. Investment accountants and assistants work primarily with stocks, bonds, ETFs, and other investments. Brokerage firms and asset management firms employ them.

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Top skills for accounting assistants

To become an accounting assistant, you must be an excellent communicator with great time management skills. Accuracy is critical for this role, especially when working closely with financials and numbers. Any administrative experience is great, especially working in a fast-paced environment. Experience dealing with and understanding bank statements and how to process payments will help boost your qualifications. 

Accounting assistants should have some experience working with bookkeeping or accounting software and be skilled with computers since most of their work is done online. Understanding the importance of prioritizing important and time-sensitive tasks is another essential skill. Take some time to understand and become familiar with the financial regulations and procedures in the field that you are interested in, so you can speak to the restrictions in place.

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Accounting assistant career path

Accounting assistants handle most of the basic entry-level accounting work in an organization. There are plenty of places that you can advance to from that spot. With two years of experience, you can move to a staff accountant position and utilize your knowledge to grow your position.

Other common advancement opportunities for accounting assistants include auditors and accounting managers. You can also move to a more administrative role in operations with the experience you receive as an accounting assistant. 

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Similar job titles

• Bookkeeper
• Billing Specialist
• Accounts Payable Specialist
• Accounts Receivable Clerk
• Accounting Clerk
• Staff Accountant
• Accountant
• Certified Public Accountant
• Account Manager

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Accounting assistant position trends and outlook

The increase in automation has replaced some assistant positions in the accounting field. It’s still a great entry-level position for the accounting department, but additional certifications and training will help you reach the top of the list.

Employment projections for accounting assistants

Due to ongoing technological advancements, accounting assistants are on a downward trend. It’s predicted that there will be a decline of 5% in these jobs through 2031. 

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Accounting assistant career tips

Soft skills and traits for accounting assistants

In addition to education and some basic experience with accounting tasks and software, there are a few things you can do to help boost your resume and improve your chances of finding an excellent job. Understand guidelines on confidentiality and financial regulations in your geographical location. Each state and city is different regarding different industries’ laws and operating guidelines. The more you know, the more beneficial you are to a potential employer.

Commonly required skills and qualifications

Practice your math skills and keep your mind sharp regarding numbers. You can play different brain games that continue exercising that part of your brain. Take courses to expand on your Excel knowledge. Pivot tables and spreadsheets are commonly used in accounting departments, so it’s best to feel comfortable. Data-entry skills are important for anyone assisting in an office setting. Practice typing and getting faster and more accurate.

Develop a professional network

Learn about the different industries that accountants work in and take advantage of internship opportunities. There are so many directions you can go with accounting, so if you can gain some experience, you’ll have a better idea of the direction you want to take in your career. One good way to do that is by building a network. Here are a few great networks to check out:

• Institution of Management Accountants (IMA)
• National Society of Accountants (NSA)
• American Accounting Association (AAA)
• Association of Accounting Technicians (AAT)
• LinkedIn Groups

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FAQs