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Become A Finance Coordinator

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Working As A Finance Coordinator

  • Getting Information
  • Interacting With Computers
  • Processing Information
  • Documenting/Recording Information
  • Organizing, Planning, and Prioritizing Work
  • Mostly Sitting

  • Repetitive

  • $61,090

    Average Salary

What Does A Finance Coordinator Do

Bookkeeping, accounting, and auditing clerks produce financial records for organizations. They record financial transactions, update statements, and check financial records for accuracy.

Duties

Bookkeeping, accounting, and auditing clerks typically do the following:

  • Use bookkeeping software, online spreadsheets, and databases
  • Enter (post) financial transactions into the appropriate computer software
  • Receive and record cash, checks, and vouchers
  • Put costs (debits) and income (credits) into the software, assigning each to an appropriate account
  • Produce reports, such as balance sheets (costs compared with income), income statements, and totals by account
  • Check for accuracy in figures, postings, and reports
  • Reconcile or note and report any differences they find in the records

The records that bookkeeping, accounting, and auditing clerks work with include expenditures (money spent), receipts (money that comes in), accounts payable (bills to be paid), accounts receivable (invoices, or what other people owe the organization), and profit and loss (a report that shows the organization’s financial health).

Workers in this occupation have a wide range of tasks. Some are full-charge bookkeeping clerks who maintain an entire organization’s books. Others are accounting clerks who handle specific tasks.

These clerks use basic mathematics (adding, subtracting) throughout the day.

Bookkeeping, accounting, and auditing clerks use specialized computer accounting software, spreadsheets, and databases to enter information from receipts or bills. They must be comfortable using computers to record and calculate data.

The widespread use of computers also has enabled bookkeeping, accounting, and auditing clerks to take on additional responsibilities, such as payroll, billing, purchasing (buying), and keeping track of overdue bills. Many of these functions require clerks to communicate with clients.

Bookkeeping clerks, also known as bookkeepers, often are responsible for some or all of an organization’s accounts, known as the general ledger. They record all transactions and post debits (costs) and credits (income).

They also produce financial statements and other reports for supervisors and managers. Bookkeepers prepare bank deposits by compiling data from cashiers, verifying receipts, and sending cash, checks, or other forms of payment to the bank.

In addition, they may handle payroll, make purchases, prepare invoices, and keep track of overdue accounts.

Accounting clerks typically work for larger companies and have more specialized tasks. Their titles, such as accounts payable clerk or accounts receivable clerk, often reflect the type of accounting they do.

The responsibilities of accounting clerks frequently vary by level of experience. Entry-level accounting clerks may post details of transactions (including date, type, and amount), add up accounts, and determine interest charges. They also may monitor loans and accounts to ensure that payments are up to date.

More advanced accounting clerks may add and balance billing vouchers, ensure that account data are complete and accurate, and code documents according to an organization’s procedures.

Auditing clerks check figures, postings, and documents to ensure that they are mathematically accurate and properly coded. They also correct or note errors for accountants or other workers to fix.

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How To Become A Finance Coordinator

Most bookkeeping, accounting, and auditing clerks need some postsecondary education and also learn some of their skills on the job. They must have basic math and computer skills, including knowledge of spreadsheets and bookkeeping software.

Education

Employers generally require bookkeeping, accounting, and auditing clerks to have some postsecondary education, particularly coursework in accounting. However, some candidates can be hired with just a high school diploma.

Training

Bookkeeping, accounting, and auditing clerks usually get on-the-job training. Under the guidance of a supervisor or another experienced employee, new clerks learn how to do their tasks, including double-entry bookkeeping. In double-entry bookkeeping, each transaction is entered twice, once as a debit (cost) and once as a credit (income), to ensure that all accounts are balanced.

Some formal classroom training also may be necessary, such as training in specialized computer software. This on-the-job training typically takes around 6 months.

Licenses, Certifications, and Registrations

Some bookkeeping, accounting, and auditing clerks become certified. For those who do not have postsecondary education, certification is a particularly useful way to gain expertise in the field. The Certified Bookkeeper (CB) designation, awarded by the American Institute of Professional Bookkeepers, shows that those who have earned it have the skills and knowledge needed to carry out all bookkeeping tasks, including overseeing payroll and balancing accounts, according to accepted accounting procedures.

For certification, candidates must have at least 2 years of full-time bookkeeping experience or equivalent part-time work, pass a four-part exam, and adhere to a code of ethics.

The National Association of Certified Public Bookkeepers also offers certification. The Uniform Bookkeeper Certification Examination is an online test with 50 multiple-choice questions. Test takers must answer 75 percent of the questions correctly to pass the exam.

Advancement

With appropriate experience and education, some bookkeeping, accounting, and auditing clerks may become accountants or auditors.

Important Qualities

Computer skills. Bookkeeping, accounting, and auditing clerks need to be comfortable using computer spreadsheets and bookkeeping software.

Detail oriented. These clerks are responsible for producing accurate financial records. They must pay attention to detail in order to avoid making errors and recognize errors that others have made.

Integrity. Bookkeeping, accounting, and auditing clerks have control of an organization’s financial documentation, which they must use properly and keep confidential. It is vital that they keep records transparent and guard against misappropriating an organization’s funds.

Math skills. Bookkeeping, accounting, and auditing clerks deal with numbers daily and should be comfortable with basic arithmetic.

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Finance Coordinator Jobs

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Finance Coordinator Career Paths

Finance Coordinator
Staff Accountant Accounting Manager
Accounting Director
11 Yearsyrs
Accountant Senior Accountant
Accounting Manager
8 Yearsyrs
Accounting Manager Accountant-Contractor Staff Accountant
Accounts Receivable Manager
6 Yearsyrs
Controller Database Administrator Accounts Receivable Specialist
Accounts Receivable/Credit Manager
6 Yearsyrs
Practice Manager Program Manager Program Director
Administrative Director
8 Yearsyrs
Practice Manager Project Manager Property Manager
Administrative Manager
6 Yearsyrs
Finance Analyst Accounting Manager
Assistant Controller
6 Yearsyrs
Finance Manager Sales Manager Office Manager
Business Office Manager
8 Yearsyrs
Account Manager Billing Specialist Collections Specialist
Collections Manager
5 Yearsyrs
Finance Analyst Senior Finance Analyst Finance Manager
Controller
9 Yearsyrs
Accounting Manager Controller
Controller/Office Manager
7 Yearsyrs
Account Manager Bookkeeper Credit Analyst
Credit And Collection Manager
7 Yearsyrs
Controller Tax Preparer Accounts Receivable Clerk
Credit Manager
5 Yearsyrs
Senior Finance Analyst Finance Manager Controller
Finance Controller
9 Yearsyrs
Staff Accountant Payroll Administrator Human Resources Coordinator
Human Resources Supervisor
5 Yearsyrs
Accountant Finance Analyst Senior Finance Analyst
Manager Finance Planning And Analysis
8 Yearsyrs
Finance Manager Account Manager Human Resources Coordinator
Office Manager Of Human Resources
7 Yearsyrs
Human Resources Coordinator Payroll Specialist
Payroll/Human Resource Manager
7 Yearsyrs
Senior Finance Analyst Controller Operations Manager
Practice Manager
9 Yearsyrs
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Help others decide if this is a good career for them

Average Length of Employment
Finance Counselor 3.1 years
Finance Clerk 2.6 years
Finance Assistant 2.2 years
Billing Assistant 2.1 years
Top Employers Before
Internship 5.2%
Accountant 4.4%
Teller 3.8%
Bookkeeper 3.3%
Cashier 2.6%
Top Employers After
Accountant 6.0%
Manager 3.9%
Consultant 3.4%
Bookkeeper 3.3%
Controller 3.2%

Do you work as a Finance Coordinator?

Finance Coordinator Demographics

Gender

Female

76.4%

Male

21.4%

Unknown

2.3%
Ethnicity

White

59.6%

Hispanic or Latino

16.7%

Black or African American

11.2%

Asian

8.6%

Unknown

3.8%
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Foreign Languages Spoken

Spanish

56.8%

French

7.9%

Russian

4.4%

Italian

4.0%

Mandarin

3.1%

Chinese

3.1%

Arabic

3.1%

Hindi

2.6%

Korean

2.2%

Portuguese

2.2%

German

2.2%

Urdu

1.8%

Ukrainian

1.3%

Greek

1.3%

Carrier

1.3%

Japanese

0.9%

Hebrew

0.4%

Romanian

0.4%

Bulgarian

0.4%

Vietnamese

0.4%
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Finance Coordinator Education

Schools

University of Phoenix

25.8%

Strayer University

7.5%

Liberty University

6.0%

Northern Virginia Community College

5.3%

Southern New Hampshire University

4.4%

University of Houston

4.4%

Boston University

4.4%

Texas A&M University

4.1%

Walden University

3.8%

American InterContinental University

3.5%

University of Maryland - University College

3.5%

Troy University

3.1%

New York University

3.1%

Wayne State University

3.1%

Temple University

3.1%

Webster University

3.1%

Villanova University

3.1%

Appalachian State University

2.8%

Michigan State University

2.8%

Florida State University

2.8%
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Majors

Business

33.7%

Accounting

18.1%

Finance

8.4%

Health Care Administration

6.8%

Management

4.0%

Psychology

3.2%

General Studies

2.2%

Communication

2.2%

Human Resources Management

2.2%

Marketing

2.1%

Criminal Justice

2.1%

Political Science

2.1%

Nursing

2.0%

Education

1.8%

Economics

1.7%

Liberal Arts

1.6%

Medical Assisting Services

1.5%

Dental Assisting

1.5%

Legal Support Services

1.3%

Sociology

1.3%
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Degrees

Bachelors

37.6%

Other

23.5%

Masters

18.8%

Associate

11.9%

Certificate

5.9%

Diploma

1.1%

Doctorate

0.6%

License

0.5%
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Internship
Temporary

Real Finance Coordinator Salaries

Job Title Company Location Start Date Salary
Finance Coordinator IBM Corporation Somers, NY Jun 11, 2014 $103,400 -
$123,600
Finance Coordinator IBM Corporation Somers, NY Jun 11, 2011 $100,868
Financial Coordinator The Historymakers Chicago, IL Oct 01, 2015 $100,000
Finance Coordinator IBM Corporation Somers, NY Sep 09, 2016 $94,640 -
$166,001
SAP Finance Coordinator IBM India Private Limited East Peoria, IL Nov 17, 2014 $84,302
Financial Coordinator Willbros United States Holdings, Inc. Houston, TX Jun 04, 2012 $84,000
Financial Coordinator Rightway Fasteners, Inc. Columbus, IN Mar 04, 2011 $78,395
Laboratory Financial Coordinator Mercy Medical Center, Inc. Canton, OH Sep 19, 2016 $71,864
Finance Coordinator IBM Corporation Somers, NY Apr 17, 2011 $71,053 -
$123,408
Financial Coordinator Children's National Medical Center Silver Spring, MD Apr 12, 2012 $68,515
Financial Coordinator Flatiron Hotel Operations LLC New York, NY Sep 24, 2016 $65,200
Financial Coordinator Blue Cross Blue Shield of Michigan NC Jan 13, 2014 $65,000 -
$75,000
Financial Coordinator Blue Cross Blue Shield of Michigan NC Jan 30, 2014 $65,000 -
$75,000
Project Finance Coordinator Kuka Systems North America LLC Sterling Heights, MI Jul 14, 2014 $60,000 -
$70,000
Senior Finance Coordinator III Samsung Electronics America, Inc. Ridgefield Park, NJ Aug 01, 2015 $59,000
Finance Coordinator Kopri USA, LLC Vienna, VA Oct 01, 2012 $59,000
Senior Finance Coordinator III Samsung Electronics America, Inc. Ridgefield Park, NJ Jan 08, 2015 $59,000
Finance Coordinator Megavision Systems Inc. Vienna, VA Oct 01, 2012 $58,950
Laboratory Financial Coordinator Mercy Medical Center, Inc. Canton, OH Jan 05, 2015 $56,701
Financial Coordinator Children's National Medical Center Washington, DC Dec 28, 2009 $56,000
Accounts and Finance Coordinator Lee Litigation Group, PLLC New York, NY Sep 14, 2016 $55,556
Financial Coordinator Northwestern University Chicago, IL Jan 04, 2016 $50,315
Financial Coordinator University of Colorado Denver, CO Mar 01, 2011 $50,055
Financial Coordinator The Historymakers Chicago, IL Oct 01, 2012 $50,000
Finance Coordinator Diamond Game Enterprises CA May 09, 2016 $50,000 -
$60,000
Coordinator for Retail and Finance Hermes of Paris Inc. New York, NY Nov 29, 2010 $48,000
Financial Coordinator Miami University Oxford, OH Jan 07, 2016 $47,380

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Top Skills for A Finance Coordinator

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  1. Insurance Companies
  2. Payroll
  3. Financial Statements
You can check out examples of real life uses of top skills on resumes here:
  • Obtained insurance coverage including Department of Rehabilitation authorizations, and processed payments from primary and secondary insurance companies.
  • Prepared and reviewed biweekly payroll.
  • Designed and prepared consolidated financial statements for 2 domestic and 4 foreign subsidiary companies.
  • Established and managed all operational/financial functions, including purchasing, inventory control, sales quotations, customer service and profitability reporting.
  • Managed accounts receivables with much attention to coding restricted donations.

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Top 10 Best States for Finance Coordinators

  1. Connecticut
  2. District of Columbia
  3. Massachusetts
  4. Rhode Island
  5. Minnesota
  6. Alaska
  7. New Jersey
  8. New Hampshire
  9. Washington
  10. Vermont
  • (160 jobs)
  • (89 jobs)
  • (514 jobs)
  • (53 jobs)
  • (280 jobs)
  • (16 jobs)
  • (304 jobs)
  • (78 jobs)
  • (251 jobs)
  • (23 jobs)

Top Finance Coordinator Employers

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Finance Coordinator Videos

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