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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

  • $47,000

    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 Career Paths

Finance Coordinator
Finance Analyst Senior Accountant Accounting Manager
Assistant Controller
6 Yearsyrs
Finance Analyst Senior Finance Analyst
Manager Finance Planning And Analysis
8 Yearsyrs
Finance Analyst Consultant Office Manager
Business Office Manager
7 Yearsyrs
Accountant Senior Finance Analyst Finance Manager
Senior Finance Manager
11 Yearsyrs
Accountant Office Manager
Office Manager Of Human Resources
6 Yearsyrs
Accountant Consultant Office Manager
Accountant And Office Manager
6 Yearsyrs
Accounts Receivable Specialist Staff Accountant Accounts Payable Supervisor
Accounts Payable Manager
7 Yearsyrs
Accounts Receivable Specialist Staff Accountant Cost Accountant
Plant Controller
10 Yearsyrs
Accounts Receivable Specialist Credit Analyst
Credit Manager
5 Yearsyrs
Executive Assistant Manager Controller
Accounting Director
11 Yearsyrs
Executive Assistant Consultant Controller
Finance Controller
9 Yearsyrs
Executive Assistant Business Analyst Senior Accountant
Senior Accounting Manager
10 Yearsyrs
Senior Finance Analyst Accounting Manager
Manager, Accounting Operations
7 Yearsyrs
Team Leader Customer Service Manager Collections Manager
Credit And Collection Manager
7 Yearsyrs
Team Leader Senior Consultant Accounting Manager
Comptroller
6 Yearsyrs
Team Leader Manager Controller
Assistant Director Of Finance
7 Yearsyrs
Senior Accountant Accounts Payable Manager
Accounts Receivable Manager
6 Yearsyrs
Finance Specialist Payroll Administrator Accountant And Office Manager
Account Human Resources Manager
6 Yearsyrs
Finance Specialist Administrator Office Manager/Administrative Assistant
Office And Operations Manager
6 Yearsyrs
Finance Specialist Staff Accountant Project Accountant
Management Accounts Manager
5 Yearsyrs
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Help others decide if this is a good career for them

Average Length of Employment
Bookkeeper 4.0 years
Finance Secretary 3.8 years
Finance Officer 3.5 years
Account Technician 3.4 years
Accounting Clerk 3.4 years
Fiscal Assistant 3.3 years
Finance Clerk 2.7 years
Finance Assistant 2.2 years
Top Careers Before Finance Coordinator
Internship 4.7%
Accountant 4.2%
Cashier 4.2%
Bookkeeper 3.5%
Manager 2.6%
Top Careers After Finance Coordinator
Accountant 6.1%
Manager 3.5%
Controller 3.3%
Consultant 3.3%
Bookkeeper 3.2%

Do you work as a Finance Coordinator?

Average Yearly Salary
$47,000
View Detailed Salary Report
$34,000
Min 10%
$47,000
Median 50%
$47,000
Median 50%
$47,000
Median 50%
$47,000
Median 50%
$47,000
Median 50%
$47,000
Median 50%
$47,000
Median 50%
$66,000
Max 90%
Best Paying Company
Brown University
Highest Paying City
Portland, OR
Highest Paying State
Oregon
Avg Experience Level
3.1 years
How much does a Finance Coordinator make at top companies?
The national average salary for a Finance Coordinator in the United States is $47,796 per year or $23 per hour. Those in the bottom 10 percent make under $34,000 a year, and the top 10 percent make over $66,000.

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 30, 2014 $65,000 -
$75,000
Financial Coordinator Blue Cross Blue Shield of Michigan NC Jan 13, 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 Jan 08, 2015 $59,000
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
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
Finance Coordinator Diamond Game Enterprises CA May 09, 2016 $50,000 -
$60,000
Financial Coordinator The Historymakers Chicago, IL Oct 01, 2012 $50,000
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

  1. Insurance Companies
  2. Financial Statements
  3. General Ledger Accounts
You can check out examples of real life uses of top skills on resumes here:
  • Established a good working relationship with collection and insurance companies to maximize accounts receivable.
  • Designed and prepared consolidated financial statements for 2 domestic and 4 foreign subsidiary companies.
  • Assisted with applying incoming funds to proper General Ledger accounts * Developed monthly mark-to-market reports
  • Managed accounts receivables with much attention to coding restricted donations.
  • Deliver professionalism in several facets of the company by providing exceptional customer service to enhance customer relationships and vendor satisfaction.

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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)

Finance Coordinator Resume Examples And Tips

The average resume reviewer spends between 5 to 7 seconds looking at a single resume, which leaves the average job applier with roughly six seconds to make a killer first impression. Thanks to this, a single typo or error on your resume can disqualify you right out of the gate. At Zippia, we went through over 7,811 Finance Coordinator resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

Learn How To Create A Top Notch Finance Coordinator Resume

View Resume Examples

Finance Coordinator Demographics

Gender

Female

68.3%

Male

20.1%

Unknown

11.7%
Ethnicity

White

58.7%

Hispanic or Latino

18.4%

Black or African American

11.2%

Asian

7.9%

Unknown

3.7%
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Foreign Languages Spoken

Spanish

54.9%

French

9.6%

Mandarin

3.9%

Russian

3.6%

Chinese

3.6%

Italian

3.3%

Portuguese

3.0%

Arabic

2.7%

German

2.4%

Hindi

2.1%

Japanese

1.8%

Urdu

1.5%

Korean

1.2%

Ukrainian

1.2%

Carrier

1.2%

Vietnamese

0.9%

Cantonese

0.9%

Greek

0.9%

Amharic

0.9%

Romanian

0.6%
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Finance Coordinator Education

Schools

University of Phoenix

28.7%

Strayer University

9.7%

University of Houston

5.6%

Kaplan University

4.6%

Northern Virginia Community College

4.3%

University of Maryland - University College

4.1%

University of Washington

4.0%

Liberty University

3.8%

Florida International University

3.6%

Northeastern University

3.6%

Boston University

3.2%

New York University

3.2%

Walden University

2.9%

Southern New Hampshire University

2.9%

Temple University

2.7%

American InterContinental University

2.7%

DePaul University

2.7%

University of California - Los Angeles

2.6%

Ashford University

2.6%

Texas A&M University

2.4%
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Majors

Business

33.4%

Accounting

18.8%

Finance

8.8%

Health Care Administration

6.8%

Management

3.8%

Psychology

3.2%

Marketing

2.4%

Communication

2.4%

Human Resources Management

1.9%

Economics

1.9%

General Studies

1.9%

Education

1.8%

Criminal Justice

1.8%

Nursing

1.8%

Dental Assisting

1.7%

Liberal Arts

1.7%

Medical Assisting Services

1.7%

Political Science

1.7%

English

1.3%

Sociology

1.3%
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Degrees

Bachelors

40.0%

Other

22.1%

Masters

18.2%

Associate

11.9%

Certificate

5.7%

Diploma

1.2%

License

0.5%

Doctorate

0.5%
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