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Finance assistant vs finance clerk

The differences between finance assistants and finance clerks 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 a finance clerk takes usually requires 4-6 years. Additionally, a finance clerk has an average salary of $39,225, 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 a finance clerk are data entry, purchase orders, and HR.

Finance assistant vs finance clerk overview

Finance AssistantFinance Clerk
Yearly salary$37,926$39,225
Hourly rate$18.23$18.86
Growth rate-8%-5%
Number of jobs118,749143,372
Job satisfaction--
Most common degreeBachelor's Degree, 59%Bachelor's Degree, 44%
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 a finance clerk do?

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.

Finance assistant vs finance clerk salary

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

Finance AssistantFinance Clerk
Average salary$37,926$39,225
Salary rangeBetween $27,000 And $52,000Between $27,000 And $56,000
Highest paying CityWashington, DCNew York, NY
Highest paying stateConnecticutNew York
Best paying companyBoston Consulting GroupUnited States Courts
Best paying industryManufacturingGovernment

Differences between finance assistant and finance clerk education

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

Finance AssistantFinance Clerk
Most common degreeBachelor's Degree, 59%Bachelor's Degree, 44%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Finance assistant vs finance clerk demographics

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

Finance AssistantFinance Clerk
Average age5051
Gender ratioMale, 24.9% Female, 75.1%Male, 26.2% Female, 73.8%
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, 6.9% Unknown, 4.0% Hispanic or Latino, 14.7% Asian, 6.6% White, 67.2% American Indian and Alaska Native, 0.6%
LGBT Percentage6%7%

Differences between finance assistant and finance clerk 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

Finance clerk example responsibilities.

  • Manage resident's private information for insurance verification, billing, and eligibility to apply for Medicaid.
  • Collaborate with insurance company representatives, case managers and physicians to obtain treatment authorization for potential kidney and kidney/pancreas transplant patients.
  • Write checks in the QuickBooks software to vendors and to reimburse employees.
  • Establish customer files in QuickBooks, write and test work instructions for clients, log and close complete files.
  • Produce PowerPoint presentations in order to brief the command team of the on goings within the company.
  • Used an automate information system (PeopleSoft) to edit, modify, and verify customers personal and payment information.
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Finance assistant vs finance clerk skills

Common finance assistant skills
  • Customer Service, 21%
  • Data Entry, 10%
  • Payroll, 9%
  • Purchase Orders, 6%
  • Financial Assistance, 5%
  • Credit Card, 4%
Common finance clerk skills
  • Data Entry, 16%
  • Purchase Orders, 9%
  • HR, 5%
  • Bank Statements, 5%
  • Bank Deposits, 5%
  • Credit Card, 4%

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