Accountable clerk vs payment processor

The differences between accountable clerks and payment processors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both an accountable clerk and a payment processor. Additionally, an accountable clerk has an average salary of $38,120, which is higher than the $34,030 average annual salary of a payment processor.

The top three skills for an accountable clerk include data entry, financial reports and purchase orders. The most important skills for a payment processor are customer service, patients, and data entry.

Accountable clerk vs payment processor overview

	Accountable Clerk	Payment Processor
Yearly salary	$38,120	$34,030
Hourly rate	$18.33	$16.36
Growth rate	-5%	-5%
Number of jobs	81,209	33,161
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 35%
Average age	51	51
Years of experience	6	6

What does an accountable clerk do?

The duties of an accountable clerk vary in one's industry of employment. Typically, their responsibilities revolve around overseeing the financial aspects of a company, including revenue and budget. They mostly process payments and income, ensuring accuracy in every detail and transaction. An accountable clerk may also have clerical tasks such as producing progress reports, answering calls and correspondence, coordinating with various department personnel, and maintaining a database of information. Should there be any issues, it is essential to report to a manager right away.

What does a payment processor do?

A payment processor is responsible for managing and informing the clients of their payment obligations for the services offered by a financial institution or other related organizations. Payment processors record transactions and ensure the timely completion of account statements. They discuss the terms and conditions of the service contract with the clients and respond to their inquiries and concerns. A payment processor must have excellent communication and organizational skills, especially in coming up with repayment plans and solutions for clients who are not able to pay services in time.

Accountable clerk vs payment processor salary

Accountable clerks and payment processors have different pay scales, as shown below.

	Accountable Clerk	Payment Processor
Average salary	$38,120	$34,030
Salary range	Between $29,000 And $49,000	Between $27,000 And $42,000
Highest paying City	New Haven, CT	San Jose, CA
Highest paying state	Massachusetts	Alaska
Best paying company	Wayne County, Michigan	University of California, Berkeley
Best paying industry	Government	Insurance

Differences between accountable clerk and payment processor education

There are a few differences between an accountable clerk and a payment processor in terms of educational background:

	Accountable Clerk	Payment Processor
Most common degree	Bachelor's Degree, 41%	Bachelor's Degree, 35%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Accountable clerk vs payment processor demographics

Here are the differences between accountable clerks' and payment processors' demographics:

	Accountable Clerk	Payment Processor
Average age	51	51
Gender ratio	Male, 19.1% Female, 80.9%	Male, 21.5% Female, 78.5%
Race ratio	Black or African American, 6.7% Unknown, 4.0% Hispanic or Latino, 14.2% Asian, 6.5% White, 68.0% American Indian and Alaska Native, 0.6%	Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.5% Asian, 6.6% White, 67.4% American Indian and Alaska Native, 0.6%
LGBT Percentage	7%	7%

Differences between accountable clerk and payment processor duties and responsibilities

Accountable clerk example responsibilities.

Manage the accurate and timely processing of AP invoices for multiple companies.
Manage resident's private information for insurance verification, billing, and eligibility to apply for Medicaid.
Scan incoming A/P, A/R, bank statements, mail, etc.
Review AR aging to ensure compliance.
Process, distribute, and maintain AR invoices.
Review and handle in-clearing reject items (ACH and checks) and process check adjustments.

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Payment processor example responsibilities.

Manage and review all incoming discounts and electronic contractual adjustments for accuracy per the negotiated Medicaid and Medicare contracts ;.
Maintain daily transactions for customer payments and various bank accounts using Quickbooks to track transactions.
Prepare and print all reports for EDI processing.
Maintain client customer confidentiality and HIPAA regulations with all data handling and transfers.
Uphold and reinforce compliance with hospital policies and federal regulations such as HIPAA.
Investigate and take corrective action regarding invoices reject by system or through EDI.

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Accountable clerk vs payment processor skills

Common accountable clerk skills

Data Entry, 11%
Financial Reports, 10%
Purchase Orders, 8%
Customer Service, 8%
Process Payroll, 8%
Office Equipment, 4%

Common payment processor skills

Customer Service, 15%
Patients, 10%
Data Entry, 10%
ACH, 8%
Phone Calls, 5%
Credit Card Payments, 4%

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Updated January 8, 2025

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