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The differences between cash accountants and fund accountants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a cash accountant and a fund accountant. Additionally, a fund accountant has an average salary of $60,203, which is higher than the $57,971 average annual salary of a cash accountant.
The top three skills for a cash accountant include reconciliations, cash management and general ledger accounts. The most important skills for a fund accountant are reconciliations, calculation, and securities.
| Cash Accountant | Fund Accountant | |
| Yearly salary | $57,971 | $60,203 |
| Hourly rate | $27.87 | $28.94 |
| Growth rate | 6% | 6% |
| Number of jobs | 40,765 | 35,702 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 84% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
Cash accountants are accounting professionals who are responsible for recording revenues and expenses during the period when cash is received and paid, respectively. These accountants are required to prepare journal entries and perform cash account reconciliations to balance bank and book balances during month-end closing activities. They must prepare all bank deposits and generate financial and payroll reports that are submitted to the operational and executive management team. Cash accountants must also provide analysis and resolution about the discrepancies in the bank and general ledger entries to internal departments and bank representatives.
A fund accountant provides accounting for an investment portfolio. The investments needed include commodities, securities, and/or real estate in an investment fund like a hedge fund or mutual fund. The role of fund accountants includes activity capturing and recording. Fund accountants prepare accurate and timely values, distributions, yields, and fund accounting output for review. They manage activities associated with fund accounting and domestic equity transactions. Also, they work alongside supervisors when it comes to budget development.
Cash accountants and fund accountants have different pay scales, as shown below.
| Cash Accountant | Fund Accountant | |
| Average salary | $57,971 | $60,203 |
| Salary range | Between $44,000 And $76,000 | Between $44,000 And $80,000 |
| Highest paying City | - | New York, NY |
| Highest paying state | - | New York |
| Best paying company | - | Warburg Pincus |
| Best paying industry | - | Finance |
There are a few differences between a cash accountant and a fund accountant in terms of educational background:
| Cash Accountant | Fund Accountant | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 84% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between cash accountants' and fund accountants' demographics:
| Cash Accountant | Fund Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 31.2% Female, 68.8% | Male, 61.5% Female, 38.5% |
| Race ratio | Black or African American, 8.6% Unknown, 4.0% Hispanic or Latino, 11.0% Asian, 12.2% White, 63.8% American Indian and Alaska Native, 0.5% | Black or African American, 7.6% Unknown, 3.9% Hispanic or Latino, 9.9% Asian, 18.4% White, 59.7% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 7% |