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Finance assistant vs accounts payable assistant

The differences between finance assistants and accounts payable assistants 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 accounts payable assistant takes usually requires 4-6 years. Additionally, a finance assistant has an average salary of $37,926, which is higher than the $37,145 average annual salary of an accounts payable assistant.

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

Finance assistant vs accounts payable assistant overview

Finance AssistantAccounts Payable Assistant
Yearly salary$37,926$37,145
Hourly rate$18.23$17.86
Growth rate-8%-5%
Number of jobs118,74931,341
Job satisfaction--
Most common degreeBachelor's Degree, 59%Bachelor's Degree, 49%
Average age5051
Years of experience26

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 accounts payable assistant do?

An accounts payable assistant is responsible for monitoring the company's billing transactions, ensuring the accurate and efficient completion of the business' financial obligations. Accounts payable assistants process invoices, resolve account discrepancies, manage bank reconciliation, create expense reports, and updating account information on the company's database. They work within a team of the accounting and finance department, assisting with tax filing and audit processes as needed. An accounts payable assistant must have excellent knowledge of the financial industry and accounting principles to perform various duties, as well as doing administrative and clerical tasks as needed.

Finance assistant vs accounts payable assistant salary

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

Finance AssistantAccounts Payable Assistant
Average salary$37,926$37,145
Salary rangeBetween $27,000 And $52,000Between $29,000 And $46,000
Highest paying CityWashington, DCSanta Cruz, CA
Highest paying stateConnecticutCalifornia
Best paying companyBoston Consulting GroupEmerson College
Best paying industryManufacturingConstruction

Differences between finance assistant and accounts payable assistant education

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

Finance AssistantAccounts Payable Assistant
Most common degreeBachelor's Degree, 59%Bachelor's Degree, 49%
Most common majorBusinessAccounting
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Finance assistant vs accounts payable assistant demographics

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

Finance AssistantAccounts Payable Assistant
Average age5051
Gender ratioMale, 24.9% Female, 75.1%Male, 15.2% Female, 84.8%
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, 6.8% Unknown, 4.0% Hispanic or Latino, 14.4% Asian, 6.5% White, 67.7% American Indian and Alaska Native, 0.6%
LGBT Percentage6%7%

Differences between finance assistant and accounts payable assistant 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

Accounts payable assistant example responsibilities.

  • Manage revenue ledger including other subsidiary ledgers and responsible for the reconciliation of various income accounts to ensure accuracy of postings.
  • Issue weekly payments to vendors by check, ACH, domestic wire, and international wire in USD and other currencies.
  • Assist in accounts payable/receivable including check deposits, credit card payments, ACH payments, credits, check runs, etc.
  • Compose effective accounting reports summarizing accounts payable data using QuickBooks.
  • Prepare payroll for salary and hourly personnel, including necessary reports for regulatory bodies.
  • Respond to payroll accounting inquires; provide resolution, information, or direction accordingly.
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Finance assistant vs accounts payable assistant skills

Common finance assistant skills
  • Customer Service, 21%
  • Data Entry, 10%
  • Payroll, 9%
  • Purchase Orders, 6%
  • Financial Assistance, 5%
  • Credit Card, 4%
Common accounts payable assistant skills
  • Data Entry, 15%
  • Purchase Orders, 10%
  • Vendor Invoices, 9%
  • Payroll, 6%
  • Vendor Statements, 5%
  • Financial Reports, 4%

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