Accounting Associate

Balancing is as much a part of an Accounting Associate's job as it is of a tightrope walker's life. Contrary to stereotypical images of accountants peering at spreadsheets all day, it can be quite exciting to lay the groundwork for accounting procedures and get a behind-the-scenes glimpse into organisational functions.

An Accounting Associate would typically need to:

• Assist top-level accountants, auditors, and finance employees within a company.
• Undertake bookkeeping and accounting work, such as data entry, reconciling accounts, and preparing accounting reports.
• Assist with the preparation of budgets and financial statements.
• Help with tax filings, accounts receivables, accounts payables, and payroll processing.
• Manage insurance claims and assess financial data.
• Comply with federal, state, and local legal regulations and requirements.
• Answer calls and manage routine correspondence with clients.
• Handle payments made by or to the company; prepare invoices, statements of accounts, vouchers, and other documents.
• Keep track of and resolve overdue accounts and outstanding payments.
• Ensure proper review of accounts for appropriate supervision of transactions.
• Manage cash with investment brokers and banks daily.
• Compile and review financial information; maintain accounting journals.
• Record fiscal transactions and balancing/reconciling accounts.
• Acquire, process, and register customer invoices using various accounting software.
• Liaise regularly with co-workers, supervisors, managers, and other personnel.
• Evaluate and update information; verify the accuracy of data.

The Accounting Associate is an entry-level position typically answerable to either the financial services manager or a senior accountant. Accounting Associates usually work in a comfortable indoor office setting with accountants, although some may work from home. Exposure to video terminal displays is the norm, and work may call for some travel to verify data.

Working full time is the norm, although part-time, job-share, and flexible opportunities may exist. Experience in roles such as accounts payable clerk, accounting clerk, or administrative assistant will equip you with relevant experience. About four years of professional accounting experience will enhance your chances of landing advanced positions.

As in any career, reading about the profession and interviewing those working as Accounting Associates are important ways to explore your interest. An accounting internship can help you discover and develop the skills needed in the workplace, which include rigor, an affinity for numbers, and being tech-savvy.

While not essential, acquiring a four-year bachelor's degree in accounting, business, or finance-related courses from a well-ranked university would give you an edge in the employment market. Candidates with associate degrees or high school diplomas may also find jobs as Accounting Associates but may fill lower-paid entry-level positions.

Continuing professional development (CPD) is the holistic commitment of Accounting Associates towards enhancing personal skills and proficiency throughout their careers. CPD allows individuals to upskill continually, regardless of their age or level of knowledge.

Professional development, coupled with experience on the job, will enhance your accountancy skillset and enrich your value to organisations and clientele. Make sure to keep track of your goals and achievements.