Key Responsibilities and Required Skills for Accounts Associate
💰 $45,000 – $60,000 per year
AccountingFinanceAccountsBookkeepingCorporate Finance
🎯 Role Definition
An Accounts Associate is responsible for supporting the finance and accounting functions of an organization by processing transactions, reconciling accounts, and maintaining accurate financial records. This role ensures compliance with company policies and financial regulations while providing essential support to accounting teams in both day-to-day operations and month-end/year-end closing activities.
📈 Career Progression
Typical Career Path
Entry Point From:
- Accounting Clerk
- Accounts Assistant
- Finance Intern
Advancement To:
- Senior Accounts Associate
- Accounting Executive
- Assistant Accountant
Lateral Moves:
- Accounts Payable Specialist
- Accounts Receivable Specialist
Core Responsibilities
Primary Functions
- Process accounts payable and accounts receivable transactions accurately and on time.
- Reconcile vendor and customer accounts, investigating and resolving discrepancies.
- Maintain general ledger entries and ensure proper coding of all financial transactions.
- Assist in month-end and year-end financial close processes, including accruals and reconciliations.
- Prepare and post journal entries to ensure accurate accounting records.
- Monitor outstanding invoices, following up with vendors and clients to ensure timely payments.
- Assist with payroll processing and ensure accurate recording of salaries and deductions.
- Generate financial reports, including cash flow statements, trial balances, and expense summaries.
- Support VAT/GST returns, tax filings, and compliance reporting.
- Track and manage fixed assets, depreciation schedules, and asset reconciliations.
- Assist auditors during internal and external audits by preparing schedules and documentation.
- Maintain organized financial records, both digital and physical, for easy retrieval and audit purposes.
- Verify expense claims, employee reimbursements, and purchase requests in accordance with company policies.
- Support budgeting, forecasting, and financial planning activities by providing relevant data and reports.
- Collaborate with procurement, sales, and other departments to resolve billing, invoicing, and payment issues.
- Assist in the implementation and maintenance of accounting systems and ERP platforms.
- Analyze financial data to identify trends, variances, and opportunities for process improvement.
- Ensure compliance with internal controls, accounting standards, and regulatory requirements.
- Provide training and support to junior staff or interns within the accounts team.
- Maintain confidentiality and safeguard sensitive financial information.
Secondary Functions
- Support ad-hoc financial analyses and management reporting requests.
- Contribute to the development and improvement of accounting policies and procedures.
- Participate in cross-functional projects requiring accounting input.
- Assist in system upgrades, process automation initiatives, and ERP optimizations.
Required Skills & Competencies
Hard Skills (Technical)
- Proficiency with accounting software such as QuickBooks, Xero, Sage, or Oracle.
- Strong knowledge of GAAP, double-entry bookkeeping, and financial reporting standards.
- Advanced Microsoft Excel skills including pivot tables, formulas, and data analysis.
- Ability to reconcile complex accounts and manage high-volume transactions.
- Familiarity with ERP systems and integrated financial platforms.
- Experience with accounts payable, accounts receivable, and general ledger maintenance.
- Understanding of VAT/GST, tax filing, and compliance procedures.
- Knowledge of payroll processing and employee reimbursement systems.
- Competence in preparing financial statements, reports, and reconciliations.
- Strong data entry accuracy and attention to numerical details.
Soft Skills
- Excellent organizational and time-management skills.
- Strong analytical and problem-solving abilities.
- Effective communication and interpersonal skills.
- Ability to work independently and collaboratively within a team.
- High level of integrity and professionalism.
- Adaptability to changing priorities and financial processes.
- Attention to detail and accuracy in financial reporting.
- Proactive attitude in identifying issues and recommending solutions.
- Customer-service orientation in internal and external interactions.
- Continuous learning mindset with focus on improving accounting knowledge.
Education & Experience
Educational Background
Minimum Education:
Associate degree in Accounting, Finance, or Business Administration
Preferred Education:
Bachelor’s degree in Accounting, Finance, or related field
Relevant Fields of Study:
- Accounting
- Finance
- Business Administration
- Economics
Experience Requirements
Typical Experience Range:
1 – 3 years of experience in accounting, finance, or accounts management