Accounts payable associate vs finance assistant

The differences between accounts payable associates and finance assistants can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become an accounts payable associate, becoming a finance assistant takes usually requires 1-2 years. Additionally, an accounts payable associate has an average salary of $39,270, which is higher than the $37,926 average annual salary of a finance assistant.

The top three skills for an accounts payable associate include customer service, data entry and purchase orders. The most important skills for a finance assistant are customer service, data entry, and payroll.

Accounts payable associate vs finance assistant overview

	Accounts Payable Associate	Finance Assistant
Yearly salary	$39,270	$37,926
Hourly rate	$18.88	$18.23
Growth rate	-5%	-8%
Number of jobs	30,845	118,749
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 50%	Bachelor's Degree, 59%
Average age	51	50
Years of experience	6	2

What does an accounts payable associate do?

An accounts payable associate is primarily responsible for processing bills and payments for a company, ensuring accuracy and timeliness. Moreover, they are also responsible for maintaining records of all transactions, liaising with external agencies, coordinating with different departments to gather data, receiving and monitoring invoices, and obtaining approval from managers or supervisors when it comes to payments as needed. An accounts payable associate may also produce financial reports and statements, create presentations, train new members of the workforce, and assist audits, all while adhering to the company's policies and regulations.

What does a finance assistant do?

A finance assistant is responsible for supporting the financial department with daily operations by doing administrative and clerical tasks as needed. Finance assistants' duties include sorting financial records, updating account spreadsheets, assisting on bank statements reconciliation, processing payments, generating an invoice, auditing financial statements, escalating financial discrepancies for review, and reviewing cost analysis reports. A finance assistant must be knowledgeable of the financial industry and accounting processes, as well as have strong analytical and organizational skills.

Accounts payable associate vs finance assistant salary

Accounts payable associates and finance assistants have different pay scales, as shown below.

	Accounts Payable Associate	Finance Assistant
Average salary	$39,270	$37,926
Salary range	Between $31,000 And $49,000	Between $27,000 And $52,000
Highest paying City	Cambridge, MA	Washington, DC
Highest paying state	Alaska	Connecticut
Best paying company	Accenture	Boston Consulting Group
Best paying industry	Construction	Manufacturing

Differences between accounts payable associate and finance assistant education

There are a few differences between an accounts payable associate and a finance assistant in terms of educational background:

	Accounts Payable Associate	Finance Assistant
Most common degree	Bachelor's Degree, 50%	Bachelor's Degree, 59%
Most common major	Accounting	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Accounts payable associate vs finance assistant demographics

Here are the differences between accounts payable associates' and finance assistants' demographics:

	Accounts Payable Associate	Finance Assistant
Average age	51	50
Gender ratio	Male, 20.6% Female, 79.4%	Male, 24.9% Female, 75.1%
Race ratio	Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.5% Asian, 6.6% White, 67.6% American Indian and Alaska Native, 0.6%	Black or African American, 9.3% Unknown, 3.9% Hispanic or Latino, 16.3% Asian, 3.8% White, 66.0% American Indian and Alaska Native, 0.7%
LGBT Percentage	7%	6%

Differences between accounts payable associate and finance assistant duties and responsibilities

Accounts payable associate example responsibilities.

Manage the PeopleSoft PO/Voucher/Receiver matching process for all business units.
Prepare A/R reports for BCBSM, Medicare, Medicaid and multiple HMO's.
Complete various seminars on Medicare and Medicaid.
Process and verify employees' expense reports to ensure compliance with GAAP and company policy.
Perform GL coding for expense invoices along with processing both ACH payments and check payments on a daily basis.
Verify which vendors need W9 to be mail to them at the beginning of the year for tax purposes.

Finance assistant example responsibilities.

Manage finance operations of assign USPS location.
Manage patient and insurance account receivables, perform patient account reconciliations, account audits, process insurance billing/correspondence.
Maintain cash receipts and disbursement records using QuickBooks and prepare bank reconciliations.
Provide emergency Medicaid screening for undocument patients, and perform necessary follow-up calls pertaining to NYC Medicaid applications.
Interpret information requests and correspond with patients and agencies in accordance with hospital, state and HIPAA regulations.
Schedule appointments, request prior authorization with appropriate CPT and ICD-9 codes, coordinate surgeries, procedures, etc.

Accounts payable associate vs finance assistant skills

Common accounts payable associate skills

Customer Service, 11%
Data Entry, 9%
Purchase Orders, 8%
Vendor Statements, 6%
Vendor Invoices, 6%
Expense Reports, 5%

Common finance assistant skills

Customer Service, 21%
Data Entry, 10%
Payroll, 9%
Purchase Orders, 6%
Financial Assistance, 5%
Credit Card, 4%

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Office and Administrative Industry
Accounts Payable Associate
Accounts Payable Associate vs Finance Assistant

Updated January 8, 2025

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