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Key Responsibilities and Required Skills for Assistant Accountant

💰 $35,000 - $55,000

AccountingFinanceBookkeeping

🎯 Role Definition

The Assistant Accountant supports the finance team by maintaining accurate ledgers, processing accounts payable and receivable, preparing reconciliations and routine financial reports, and assisting with month‑end and year‑end close activities. This role is ideal for detail‑oriented professionals who want to develop accounting expertise using ERP/accounting software and contribute to strong internal controls, timely reporting, and process improvements.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Bookkeeper with experience in ledger maintenance and vendor payments
  • Accounts Clerk or Finance Assistant handling transactional accounting
  • Payroll Assistant or Billing Clerk with invoicing experience

Advancement To:

  • Senior Accountant
  • Accounting Supervisor / Assistant Finance Manager
  • Financial Analyst or Management Accountant
  • Finance Manager or Head of Accounting

Lateral Moves:

  • Accounts Payable Specialist
  • Credit Controller
  • Payroll Specialist
  • Revenue Analyst or Billing Coordinator

Core Responsibilities

Primary Functions

  • Maintain and reconcile the general ledger by preparing and posting accurate journal entries, accruals, prepayments, and adjustments to support month‑end and year‑end closing procedures.
  • Execute full-cycle accounts payable processing: receive and validate supplier invoices, match purchase orders and goods receipts, code transactions, obtain approvals, schedule payments, and maintain vendor records.
  • Manage accounts receivable tasks including invoicing customers, applying cash receipts, monitoring aging balances, issuing statements, and following up on overdue accounts to improve collections and DSO.
  • Perform regular bank reconciliations (daily/weekly/monthly) for multiple bank accounts, investigate reconciling items, and liaise with treasury to resolve discrepancies and ensure accurate cash position reporting.
  • Prepare and maintain balance sheet reconciliations for key control accounts (e.g., intercompany, payroll, VAT/GST, fixed assets), identify reconciling items, and drive timely resolution.
  • Support month‑end close by compiling schedules, variance analyses, supporting documentation, and preliminary financial statements for review by senior accounting staff.
  • Assist with the preparation of statutory and management reports, ensuring accuracy, consistency, and timely delivery to internal stakeholders and external parties.
  • Support tax and compliance activities: compile VAT/GST returns, sales and use tax documentation, assist with payroll tax remittances, and prepare supporting schedules for tax filings.
  • Maintain and reconcile the fixed asset register: process additions, disposals, transfers, calculate depreciation, and ensure accurate capitalization according to company policy.
  • Process payroll data inputs, reconcile payroll clearing accounts, assist external payroll providers as needed, and support payroll month-end accounting and reporting.
  • Prepare cost center or departmental expense allocations and assist in analyzing variances against budgets and forecasts to support financial planning.
  • Assist with financial audits by preparing audit schedules, gathering supporting documents, responding to auditor queries, and implementing auditor recommendations to improve controls.
  • Monitor and maintain petty cash, corporate credit card reconciliations, and employee expense reimbursements in accordance with company policy.
  • Support intercompany accounting tasks: prepare and reconcile intercompany invoices, balances, and settlement transactions in multi-entity environments.
  • Execute supplier statement reconciliations and resolve payment or invoice discrepancies through direct communication with vendors and procurement teams.
  • Create and maintain accounting policies, procedures, and process documentation; recommend and implement process improvements to increase efficiency and reduce risk.
  • Operate and maintain accounting software and ERP modules (e.g., QuickBooks, Xero, Sage, NetSuite, SAP) for transactional accuracy and reporting readiness.
  • Prepare supporting schedules and inputs for budgeting and forecasting processes, and contribute to scenario analysis and cash flow projections.
  • Ensure timely and accurate posting of recurring entries and automated journal schedules, monitoring system controls and exceptions for potential errors.
  • Provide support for ad hoc financial analyses, management information requests, and cross‑functional projects such as system implementations or upgrades.
  • Maintain strict confidentiality of financial and personnel data while ensuring compliance with company policies and local regulatory requirements.
  • Collaborate with procurement, operations, sales, and HR to ensure accounting treatment aligns with business transactions and company policy.
  • Assist in onboarding and training of junior accounting staff and temporary resources during peak periods to build team capability.
  • Monitor and report on key accounting KPIs (e.g., days payable outstanding, days sales outstanding, month‑end close cycle time) and recommend corrective actions where needed.

Secondary Functions

  • Support special projects such as ERP implementations, process automation, and finance transformation initiatives by gathering requirements and testing accounting flows.
  • Prepare and deliver periodic internal accounting training to non-finance colleagues to improve invoice processing and expense reporting compliance.
  • Liaise with banks and financial institutions for account setup, electronic payments, direct debits, and banking confirmations.
  • Assist with regulatory filings and company secretarial support as required, escalating complex issues to senior management.
  • Provide quality assurance for data migrated during system upgrades and run validation checks to ensure integrity of financial data.
  • Participate in continuous improvement workshops, identify bottlenecks in transactional processing, and pilot small process changes to increase throughput.
  • Produce documentation and SOPs for recurring accounting routines to ensure consistent application of rules across the finance team.

Required Skills & Competencies

Hard Skills (Technical)

  • Full cycle Accounts Payable (AP) and Accounts Receivable (AR) processing with strong transactional accuracy.
  • General Ledger accounting: journal entries, accruals, prepayments, and month‑end close procedures.
  • Bank and credit card reconciliations, cash management support, and treasury communication.
  • VAT/GST and indirect tax return preparation, and basic understanding of sales and use tax compliance.
  • Fixed asset accounting and depreciation calculations; maintenance of fixed asset register.
  • Payroll accounting support and payroll clearing account reconciliation.
  • Proficiency in accounting/ERP systems such as QuickBooks, Xero, Sage, Oracle NetSuite, Microsoft Dynamics, or SAP.
  • Advanced Microsoft Excel skills: pivot tables, VLOOKUP/XLOOKUP, INDEX/MATCH, conditional formatting, and reconciliation templates.
  • Experience preparing schedules for audits, supporting external auditors, and responding to audit queries.
  • Financial reporting basics: preparing trial balances, balance sheet reconciliations, and management reporting packs.
  • Experience with electronic payments, bank file uploads, and AP automation tools (e.g., Bill.com, Tipalti).
  • Familiarity with internal controls, SOX readiness (where applicable), and process documentation.

Soft Skills

  • Strong attention to detail and accuracy in processing high volumes of transactional data.
  • Excellent written and verbal communication skills for cross‑functional collaboration and vendor negotiation.
  • Time management and prioritization: ability to meet tight monthly and quarterly deadlines.
  • Problem solving and investigative skills to identify root causes of discrepancies and implement corrective actions.
  • High level of integrity and ability to handle confidential financial information discreetly.
  • Team player mentality with the ability to work independently when required.
  • Adaptability and willingness to learn new systems, tools, and accounting standards.
  • Customer service orientation for internal stakeholders and external vendors.
  • Initiative to streamline processes, propose improvements, and implement changes.
  • Analytical mindset with the ability to present data-driven insights to non-finance stakeholders.

Education & Experience

Educational Background

Minimum Education:

  • Diploma or Associate degree in Accounting, Finance, or related field; or equivalent bookkeeping certification with relevant experience.

Preferred Education:

  • Bachelor's degree in Accounting, Finance, Business Administration, or Economics.
  • Progress toward or completion of professional qualifications such as ACCA, CIMA, CPA, or equivalent is a plus.

Relevant Fields of Study:

  • Accounting
  • Finance
  • Business Administration
  • Economics
  • Accounting Technology / Bookkeeping

Experience Requirements

Typical Experience Range: 1–4 years of accounting or bookkeeping experience in a corporate, nonprofit, or public accounting environment.

Preferred: 2–5 years of progressive experience working with general ledger, AP/AR, reconciliations, and month‑end close cycles; experience using ERP systems (NetSuite, SAP, Sage, QuickBooks) and exposure to audits or tax filings preferred.

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