What does an accounting internship do?
An accounting internship is a trainee who reports to an organization's accountant in order to learn about the accounting field, complete financial projects and files taxes, and financial reports. An intern should be a graduate of a Bachelor's or Master's in Accounting and should have an aptitude for mathematics and proficiency with computers. In order to prepare financial reports, an intern should possess knowledge with bookkeeping software. An intern must also know how to handle sensitive information with honesty and integrity.
Accounting internship responsibilities
Here are examples of responsibilities from real accounting internship resumes:
- Acquire training on the automated ADP payroll system which lead to a recommendation for the payroll manager position.
- Manage revenue ledger including other subsidiary ledgers and responsible for the reconciliation of various income accounts to ensure accuracy of postings.
- Prepare and process accounts payable checks and ACH payments.
- Code diagnosis and add appropriate modifiers to CPT codes.
- Prepare and maintain monthly departmental reports to maintain SOX compliance.
- Demonstrate knowledge of medical terminology, ICD-9 codes, and CPT codes.
- Complete a fix asset inventory project of assets on site for SOX compliance.
- Review and communicate instructions and notices regarding important tax documents between clients and the IRS that are reviewed by the CPA.
- Examine, analyze and interpret financial statements and prepare for CPA review
- Prepare required audit schedules in accordance with GAAP and Sarbanes-Oxley regulations.
- General analysis of accounting records to ensure financial statement compliance with GAAP
- Reconcile bank statements and account transfers while developing understanding of QuickBooks software.
- Perform bank reconciliation, bookkeeping, and prepare financial statements for corporations by using QuickBooks.
- Monitor outstanding balances and provide financial counseling to assist patients with payment arrangements as indicated.
- Perform reconciliation for accounts receivable for all parent companies and assist with preparation of bank reconciliations.
Accounting internship skills and personality traits
We calculated that 14% of Accounting Interns are proficient in Reconciliations, Data Entry, and Payroll. They’re also known for soft skills such as Computer skills, Detail oriented, and Integrity.
We break down the percentage of Accounting Interns that have these skills listed on their resume here:
- Reconciliations, 14%
Recorded monthly Account Payable activities and performed General Ledger and bank reconciliations for an affiliated non-profit organization.
- Data Entry, 7%
Assisted financial manager in data entry and analysis for end-of-month report and account revenue procedures.
- Payroll, 6%
Provided administrative support to management: Payroll, food/beverage inventory, making employee schedules and correspondence.
- First Hand, 6%
Assisted impoverished, local citizens with job searching and basic resume building while learning about local economy first hand.
- Work Ethic, 6%
Rehired for a second summer internship based on a strong work ethic and outstanding performance.
- Account Reconciliations, 5%
Computed account reconciliations and generated bank deposit reports in Excel linking data to a complex company coding system.
Common skills that an accounting internship uses to do their job include "reconciliations," "data entry," and "payroll." You can find details on the most important accounting internship responsibilities below.
Computer skills. The most essential soft skill for an accounting internship to carry out their responsibilities is computer skills. This skill is important for the role because "bookkeeping, accounting, and auditing clerks need to be comfortable using computer spreadsheets and bookkeeping software." Additionally, an accounting internship resume shows how their duties depend on computer skills: "ensured accurate data entry of vendor payments in computerized ledger system. "
Detail oriented. Another soft skill that's essential for fulfilling accounting internship duties is detail oriented. The role rewards competence in this skill because "bookkeeping, accounting, and auditing clerks are responsible for producing accurate financial records." According to an accounting internship resume, here's how accounting interns can utilize detail oriented in their job responsibilities: "prepared detailed trial balance and detailed financial statements for auditors. "
Integrity. This is an important skill for accounting interns to perform their duties. For an example of how accounting internship responsibilities depend on this skill, consider that "bookkeeping, accounting, and auditing clerks have control of an organization’s financial documentation, which they must use properly and keep confidential." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of an accounting internship: "entrusted with a variety of other accounting tasks, including financial statement analysis, bank reconciliation and trial balances. ".
Math skills. A big part of what accounting interns do relies on "math skills." You can see how essential it is to accounting internship responsibilities because "bookkeeping, accounting, and auditing clerks deal with numbers daily and should be comfortable with basic arithmetic." Here's an example of how this skill is used from a resume that represents typical accounting internship tasks: "utilized vlookup, mathematical functions, concatenation, and pivot tables. "
The three companies that hire the most accounting internships are:
- Wipfli132 accounting interns jobs
- KPMG LLP55 accounting interns jobs
- Enterprise Holdings14 accounting interns jobs
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Compare different accounting interns
Accounting internship vs. Bookkeeper
Bookkeepers are employees who are in charge of the company's general ledger. They are well-versed in basic accounting principles, and they apply these in their work. Bookkeepers manage the entry of items in the general ledger, assign items into their proper categories, and ensure that the entries are balanced. They also act as auditors by checking the accuracy and veracity of the receipts or vouchers in their possession before entering them into the system. Bookkeepers ensure that their files are up to date and free of errors.
While similarities exist, there are also some differences between accounting interns and bookkeeper. For instance, accounting internship responsibilities require skills such as "payroll," "first hand," "work ethic," and "account reconciliations." Whereas a bookkeeper is skilled in "payroll tax returns," "customer service," "hr," and "credit card accounts." This is part of what separates the two careers.
Bookkeepers really shine in the manufacturing industry with an average salary of $42,063. Comparatively, accounting interns tend to make the most money in the telecommunication industry with an average salary of $34,961.The education levels that bookkeepers earn slightly differ from accounting interns. In particular, bookkeepers are 5.7% less likely to graduate with a Master's Degree than an accounting internship. Additionally, they're 0.0% less likely to earn a Doctoral Degree.Accounting internship vs. Finance clerk
Finance clerks are financial professionals who are responsible for performing various administrative tasks such as keeping financial records, preparing bills, and delivering excellent customer service. These clerks are required to process bills, checks, receipts, and other documents to ensure that they are all properly signed and distributed. They must verify financial and other data so that they can enter those data into the database and maintain updated records. Finance clerks must also assist with account reconciliations and should report the status of accounts and discrepancies to the management.
Each career also uses different skills, according to real accounting internship resumes. While accounting internship responsibilities can utilize skills like "reconciliations," "payroll," "first hand," and "work ethic," finance clerks use skills like "hr," "bank statements," "credit card," and "telephone calls."
On average, finance clerks earn a higher salary than accounting interns. Some industries support higher salaries in each profession. Interestingly enough, finance clerks earn the most pay in the government industry with an average salary of $40,090. Whereas accounting interns have higher pay in the telecommunication industry, with an average salary of $34,961.finance clerks earn lower levels of education than accounting interns in general. They're 5.8% less likely to graduate with a Master's Degree and 0.0% more likely to earn a Doctoral Degree.Accounting internship vs. Finance coordinator
Finance coordinators are skilled professionals who are employed by all types of industries to manage their financial records accurately. Under the supervision of financial managers, they correlate the company's accounts receivables and payables. They should be able to keep records together with documentation effectively to ensure precision and punctuality of deliverables. Their responsibilities include ensuring accurate billing of customers, managing billing issues and disputes, and making required adjustments to clients' accounts. Candidates for the job must be organized, detail-oriented, able to multi-task as well as cautiously handle sensitive information.
The required skills of the two careers differ considerably. For example, accounting interns are more likely to have skills like "first hand," "work ethic," "account reconciliations," and "internal audit." But a finance coordinator is more likely to have skills like "patients," "customer service," "insurance benefits," and "insurance verification."
Finance coordinators earn the highest salary when working in the professional industry, where they receive an average salary of $53,893. Comparatively, accounting interns have the highest earning potential in the telecommunication industry, with an average salary of $34,961.Most finance coordinators achieve a similar degree level compared to accounting interns. For example, they're 1.1% less likely to graduate with a Master's Degree, and 0.0% less likely to earn a Doctoral Degree.Accounting internship vs. Account technician
Account technicians are skilled professionals who are responsible for gathering data and preparing financial statements and reports from the account records they have maintained. These technicians are required to settle accounts with insurance companies and maximize benefits payments received from those companies. They must maintain a client management system for multiple accounts and coordinate marketing outreach for potential and existing clients. Account technicians must also monitor and compile all documents of the department, such as invoices, checks, and financial records.
Types of accounting internship
Updated January 8, 2025
