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.
Finance assistant responsibilities
Here are examples of responsibilities from real finance assistant resumes:
- 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.
- Prepare a monthly coding analysis to determine if clinicians are maximizing opportunities to use higher level CPT codes while charting.
- Direct monthly, quarterly, annual financial statement preparation; review and finalize all statements and reports in accordance with GAAP.
- Enter FAFSA information to calculate financial aid disbursement.
- Develop procedures and policies for statewide implementation ensuring compliance with GAAP.
- Provide business relate financial information, analysis and evaluation in a PowerPoint presentation.
- Prepare PowerPoint for speaker to introduce a financial product, including lending policies and procedures
- Determine and screen Medicare/ Medicaid eligibility, initiate and followed-up application process until approval are granted.
- Generate computerized end of month reports and utilize trial balance for various financial schedules using QuickBooks software.
- Provide daily student consultations regarding the FAFSA application process, missing documentation and financial aid disbursement dates.
Finance assistant skills and personality traits
We calculated that 21% of Finance Assistants are proficient in Customer Service, Data Entry, and Payroll. They’re also known for soft skills such as Interpersonal skills, Writing skills, and Organizational skills.
We break down the percentage of Finance Assistants that have these skills listed on their resume here:
- Customer Service, 21%
Scheduled appointments and acted as a customer service representative for families inquiring upon various information pertaining to the financial aid process.
- Data Entry, 10%
Modified screens to more efficiently facilitate data entry and maximized form production with innovative programming techniques.
- Payroll, 9%
Assisted Business Administrator with financial tasks, including payroll and all aspects of contribution management.
- Purchase Orders, 6%
Verified and assisted with collecting inventory data to ensure adequate stock available and created/processed purchase orders when necessary to replenish stock.
- Financial Assistance, 5%
Formulated Temporary Financial Assistance funds to assist homeless veteran families or veteran families at-risk for homelessness sustain or obtain stable housing.
- Credit Card, 4%
Ensured timely and accurate performance of credit card emulation and imported spreadsheets to Microsoft Access, further illustrating exceptional technical skills.
Most finance assistants use their skills in "customer service," "data entry," and "payroll" to do their jobs. You can find more detail on essential finance assistant responsibilities here:
Interpersonal skills. One of the key soft skills for a finance assistant to have is interpersonal skills. You can see how this relates to what finance assistants do because "secretaries and administrative assistants interact with clients, customers, or staff." Additionally, a finance assistant resume shows how finance assistants use interpersonal skills: "provide a high level of customer service and client relations based on outstanding communication and interpersonal skill. "
Writing skills. Another essential skill to perform finance assistant duties is writing skills. Finance assistants responsibilities require that "secretaries and administrative assistants write memos and emails when communicating with managers, employees, and customers." Finance assistants also use writing skills in their role according to a real resume snippet: "analyzed and performed underwriting for business/personal financial statements and tax returns. "
Organizational skills. This is an important skill for finance assistants to perform their duties. For an example of how finance assistant responsibilities depend on this skill, consider that "secretaries and administrative assistants keep files, folders, and schedules in order so that an office runs efficiently." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a finance assistant: "strengthened my organizational skills through filing student financial information, data entry with financial aid platforms and ms excel. ".
The three companies that hire the most finance assistants are:
- Massachusetts Institute of Technology17 finance assistants jobs
- BayCare Health System15 finance assistants jobs
- Wounded Warrior Project15 finance assistants jobs
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Compare different finance assistants
Finance assistant vs. Assistant account executive
An assistant account executive is responsible for managing customer accounts, under the supervision of an account executive. Assistant account executives develop processes and techniques to execute projects based on clients' specifications. They assist account executives with clients' presentations for project updates and status reports. They also manage client requests to increase brand awareness, including maximizing sales strategies and resources and advertising promotions within the budget goals. They must have excellent communication and critical-thinking skills, especially when managing the clients' expectations and marketing the clients' brands to all available platforms for customers' recognition.
While similarities exist, there are also some differences between finance assistants and assistant account executive. For instance, finance assistant responsibilities require skills such as "data entry," "payroll," "financial assistance," and "credit card." Whereas a assistant account executive is skilled in "press releases," "account management," "account executives," and "fact sheets." This is part of what separates the two careers.
Assistant account executives really shine in the professional industry with an average salary of $50,936. Comparatively, finance assistants tend to make the most money in the manufacturing industry with an average salary of $39,521.The education levels that assistant account executives earn slightly differ from finance assistants. In particular, assistant account executives are 0.1% less likely to graduate with a Master's Degree than a finance assistant. Additionally, they're 0.1% less likely to earn a Doctoral Degree.Finance assistant vs. Clerk's assistant/administrative assistant
A clerk's assistant/administrative assistant is responsible for supporting the company's operations and customers' needs by performing administrative and clerical duties as needed. Clerk's assistants/administrative assistants respond to customers' inquiries and concerns, acknowledging and processing orders, and posting their payments. They also sort company documents, manage office supply inventory, submit business transaction reports, schedule appointments, and operate office equipment. A clerk's assistant/administrative assistant must be very organized. They must also have excellent time-management and multitasking skills to perform office duties with high accuracy and efficiency under minimal supervision.
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that finance assistant responsibilities requires skills like "payroll," "financial assistance," "credit card," and "journal entries." But a clerk's assistant/administrative assistant might use other skills in their typical duties, such as, "financial reports," "word processing," "dmv," and "clerical support."
Clerks's assistant/administrative assistant may earn a lower salary than finance assistants, but clerks's assistant/administrative assistant earn the most pay in the government industry with an average salary of $37,752. On the other hand, finance assistants receive higher pay in the manufacturing industry, where they earn an average salary of $39,521.clerks's assistant/administrative assistant earn similar levels of education than finance assistants in general. They're 4.0% less likely to graduate with a Master's Degree and 0.1% more likely to earn a Doctoral Degree.Finance assistant vs. Accounts payable/administrative assistant
An accounts payable/administrative assistant works alongside the department head. This position focuses on the administrative side of a budgeting department. They are responsible for organizing a company's financial records, which include all documentation of financial transactions, such as invoices and receipts. They also manage all paperwork needed by their department.
There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, a finance assistant is likely to be skilled in "payroll," "financial assistance," "financial transactions," and "fafsa," while a typical accounts payable/administrative assistant is skilled in "financial reports," "vendor statements," "process invoices," and "word processing."
Accounts payable/administrative assistants earn the best pay in the construction industry, where they command an average salary of $45,929. Finance assistants earn the highest pay from the manufacturing industry, with an average salary of $39,521.accounts payable/administrative assistants typically earn similar educational levels compared to finance assistants. Specifically, they're 4.0% less likely to graduate with a Master's Degree, and 0.3% less likely to earn a Doctoral Degree.Finance assistant vs. Customer service administrative assistant
A customer service administrative assistant is responsible for responding to customers' inquiries and concerns, alongside performing administrative tasks as required. Customer service administrative assistants must escalate high-level complaints to the appropriate department, organize client meetings, process business letters, assist with developing promotional offers and marketing materials, and research potential clients. They also manage inventories and request stock supplies, create expense reports, and update customer records in the database. A customer service administrative assistant must have excellent customer service skills, as well as the ability to multitask and work under pressure and strict deadlines.
Even though a few skill sets overlap between finance assistants and customer service administrative assistants, there are some differences that are important to note. For one, a finance assistant might have more use for skills like "customer service," "financial assistance," "journal entries," and "general ledger." Meanwhile, some responsibilities of customer service administrative assistants require skills like "customer inquiries," "inbound calls," "customer complaints," and "customer orders. "
Customer service administrative assistants enjoy the best pay in the finance industry, with an average salary of $36,241. For comparison, finance assistants earn the highest salary in the manufacturing industry.In general, customer service administrative assistants hold similar degree levels compared to finance assistants. Customer service administrative assistants are 4.4% less likely to earn their Master's Degree and 0.3% less likely to graduate with a Doctoral Degree.Types of finance assistant
Updated January 8, 2025
