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Finance assistant vs accountant

The differences between finance assistants and accountants can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a finance assistant, becoming an accountant takes usually requires 2-4 years. Additionally, an accountant has an average salary of $54,890, which is higher than the $37,926 average annual salary of a finance assistant.

The top three skills for a finance assistant include customer service, data entry and payroll. The most important skills for an accountant are reconciliations, general ledger accounts, and account reconciliations.

Finance assistant vs accountant overview

Finance AssistantAccountant
Yearly salary$37,926$54,890
Hourly rate$18.23$26.39
Growth rate-8%6%
Number of jobs118,74960,073
Job satisfaction-3
Most common degreeBachelor's Degree, 59%Bachelor's Degree, 71%
Average age5044
Years of experience24

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.

What does an accountant do?

An accountant is an individual whose primary task is to prepare, keep, examine, and interpret financial records. Most accountants are in charge of a wide scope of finance-related tasks, either for private individuals or for large-scale businesses and organizations they are employed with. They make sure that financial statements and records are accurate and comply with laws and regulations. They also compute for taxes, prepare tax returns, and ensure being paid properly and on time. As they keep track and record the flow of money, they can offer guidance on how to reduce costs, enhance revenue, and help in profit maximization.

Finance assistant vs accountant salary

Finance assistants and accountants have different pay scales, as shown below.

Finance AssistantAccountant
Average salary$37,926$54,890
Salary rangeBetween $27,000 And $52,000Between $41,000 And $72,000
Highest paying CityWashington, DCWashington, DC
Highest paying stateConnecticutNew York
Best paying companyBoston Consulting GroupMeta
Best paying industryManufacturingTechnology

Differences between finance assistant and accountant education

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

Finance AssistantAccountant
Most common degreeBachelor's Degree, 59%Bachelor's Degree, 71%
Most common majorBusinessAccounting
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Finance assistant vs accountant demographics

Here are the differences between finance assistants' and accountants' demographics:

Finance AssistantAccountant
Average age5044
Gender ratioMale, 24.9% Female, 75.1%Male, 38.2% Female, 61.8%
Race ratioBlack 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%Black or African American, 8.6% Unknown, 4.0% Hispanic or Latino, 10.9% Asian, 15.0% White, 61.1% American Indian and Alaska Native, 0.5%
LGBT Percentage6%7%

Differences between finance assistant and accountant duties and responsibilities

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.
  • Show more

Accountant example responsibilities.

  • Manage preparation of the statutory financial statements and financial aggregates in compliance with IFRS and local applicable norms.
  • Manage personnel financial matters including salaries, taxation procedures and other relate issues.
  • Manage and monitor accounting procedures for compliance with Sarbanes-Oxley and coordinate and facilitate external audit requirements.
  • Reconstruct and improve many balance sheet account reconciliations for easier reading and interpretation by senior level management.
  • Perform complex general accounting functions, including preparation of journal entries, account analysis and balance sheet reconciliations.
  • Maintain general ledgers and preparation of monthly and other periodic financial reports in accordance with GAAP and international accounting standards.
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Finance assistant vs accountant skills

Common finance assistant skills
  • Customer Service, 21%
  • Data Entry, 10%
  • Payroll, 9%
  • Purchase Orders, 6%
  • Financial Assistance, 5%
  • Credit Card, 4%
Common accountant skills
  • Reconciliations, 14%
  • General Ledger Accounts, 6%
  • Account Reconciliations, 6%
  • GAAP, 5%
  • Payroll Tax Returns, 5%
  • Customer Service, 5%

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