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Finance coordinator vs finance clerk

The differences between finance coordinators and finance clerks can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a finance coordinator and a finance clerk. Additionally, a finance coordinator has an average salary of $49,358, which is higher than the $39,225 average annual salary of a finance clerk.

The top three skills for a finance coordinator include patients, customer service and payroll. The most important skills for a finance clerk are data entry, purchase orders, and HR.

Finance coordinator vs finance clerk overview

Finance CoordinatorFinance Clerk
Yearly salary$49,358$39,225
Hourly rate$23.73$18.86
Growth rate-5%-5%
Number of jobs106,187143,372
Job satisfaction5-
Most common degreeBachelor's Degree, 58%Bachelor's Degree, 44%
Average age5151
Years of experience66

What does a finance coordinator do?

Finance coordinators are skilled professionals who are employed by all types of industries to manage their financial records accurately. Under the supervision of financial managers, they correlate the company's accounts receivables and payables. They should be able to keep records together with documentation effectively to ensure precision and punctuality of deliverables. Their responsibilities include ensuring accurate billing of customers, managing billing issues and disputes, and making required adjustments to clients' accounts. Candidates for the job must be organized, detail-oriented, able to multi-task as well as cautiously handle sensitive information.

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 coordinator vs finance clerk salary

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

Finance CoordinatorFinance Clerk
Average salary$49,358$39,225
Salary rangeBetween $34,000 And $71,000Between $27,000 And $56,000
Highest paying CityWashington, DCNew York, NY
Highest paying stateMarylandNew York
Best paying companyMcKinsey & Company IncUnited States Courts
Best paying industryProfessionalGovernment

Differences between finance coordinator and finance clerk education

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

Finance CoordinatorFinance Clerk
Most common degreeBachelor's Degree, 58%Bachelor's Degree, 44%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Finance coordinator vs finance clerk demographics

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

Finance CoordinatorFinance Clerk
Average age5151
Gender ratioMale, 22.1% Female, 77.9%Male, 26.2% Female, 73.8%
Race ratioBlack 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%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 Percentage7%7%

Differences between finance coordinator and finance clerk duties and responsibilities

Finance coordinator example responsibilities.

  • Manage patient and insurance account receivables, perform patient account reconciliations, account audits, process insurance billing/correspondence.
  • Construct posts featuring highlights of past events on Facebook.
  • Enter EOB payments and denials and perform follow up with insurance company on denials.
  • Create promotional flyers for annual concerts and fundraisers which are posted through via Facebook and local areas.
  • Review and process EOB's daily, entering comments into the bill comment log as to status of follow up.
  • Produce basic PowerPoint presentation materials, including graphical renderings for illustration.
  • 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.
  • Show more

Finance coordinator vs finance clerk skills

Common finance coordinator skills
  • Patients, 21%
  • Customer Service, 11%
  • Payroll, 5%
  • Reconciliations, 4%
  • Data Entry, 3%
  • Insurance Benefits, 3%
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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