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Key Responsibilities and Required Skills for Accounting Intern

💰 $15 - $25/hour

AccountingFinanceInternshipBookkeepingFinancial Operations

🎯 Role Definition

An Accounting Intern supports the finance and accounting team by assisting in day-to-day accounting tasks, maintaining financial records, and gaining practical experience in accounting principles and procedures. This entry-level role is designed to provide exposure to accounts payable, accounts receivable, reconciliations, and reporting, while developing essential skills for a future career in finance and accounting.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Accounting Student
  • Finance Student
  • Business Administration Student

Advancement To:

  • Junior Accountant
  • Accounts Clerk
  • Accounting Assistant

Lateral Moves:

  • Finance Intern
  • Accounts Payable Intern

Core Responsibilities

Primary Functions

  1. Assist in recording financial transactions into the accounting system.
  2. Prepare and process invoices, receipts, and expense reports under supervision.
  3. Perform account reconciliations for bank accounts, credit cards, and petty cash.
  4. Assist with monthly, quarterly, and year-end closing activities.
  5. Support accounts payable and accounts receivable functions.
  6. Help prepare financial reports and summaries for review by senior staff.
  7. Verify invoices and payment requests against purchase orders and contracts.
  8. Maintain organized and accurate filing of accounting documents and records.
  9. Assist in payroll preparation and calculation under supervision.
  10. Monitor and track outstanding balances and assist with collections follow-ups.
  11. Prepare and update schedules for fixed assets, depreciation, and amortization.
  12. Support preparation of tax filings and compliance documentation.
  13. Assist with budget tracking and financial variance analysis.
  14. Participate in internal audits and provide documentation as requested.
  15. Collaborate with finance team members to resolve accounting discrepancies.
  16. Help implement and maintain accounting systems and ERP software.
  17. Assist in preparing management reports, dashboards, and KPIs.
  18. Learn and follow internal controls, company policies, and GAAP standards.
  19. Support ad-hoc financial analysis and project-based assignments.
  20. Attend training sessions and mentorship meetings to enhance accounting knowledge.

Secondary Functions

  • Support ad-hoc financial and data requests from the accounting team.
  • Contribute to process improvement initiatives and system upgrades.
  • Participate in cross-functional finance projects and team meetings.
  • Provide administrative assistance and organizational support to senior accountants.

Required Skills & Competencies

Hard Skills (Technical)

  • Basic understanding of accounting principles and GAAP
  • Familiarity with accounting software (QuickBooks, SAP, Oracle, or similar)
  • Knowledge of accounts payable and accounts receivable processes
  • Basic general ledger and journal entry understanding
  • Microsoft Excel proficiency (formulas, basic pivot tables)
  • Experience with financial reporting and reconciliations (academic or internship exposure)
  • Knowledge of budgeting and expense tracking
  • Data entry accuracy and attention to detail
  • Ability to assist with payroll and tax calculations
  • Familiarity with ERP systems or financial management tools

Soft Skills

  • Strong attention to detail and organizational skills
  • Excellent written and verbal communication skills
  • Analytical thinking and problem-solving ability
  • Ability to manage time and prioritize tasks effectively
  • Team collaboration and interpersonal skills
  • Professionalism and ethical handling of sensitive data
  • Adaptability and eagerness to learn new accounting processes
  • Customer service orientation and client interaction skills
  • Initiative and proactivity in completing assigned tasks
  • Ability to work efficiently in a fast-paced, deadline-driven environment

Education & Experience

Educational Background

Minimum Education:
Enrolled in a Bachelor’s Degree program in Accounting, Finance, or Business Administration

Preferred Education:
Pursuing a degree with coursework in financial accounting, corporate finance, or related fields

Relevant Fields of Study:

  • Accounting
  • Finance
  • Business Administration

Experience Requirements

Typical Experience Range:
Entry-level internship, 0–1 year of professional accounting experience

Preferred:
Previous internship or practical experience in accounting, bookkeeping, or financial operations is a plus.

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