Finance technician vs accounts payable assistant

The differences between finance technicians and accounts payable assistants 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 technician and an accounts payable assistant. Additionally, a finance technician has an average salary of $45,251, which is higher than the $37,145 average annual salary of an accounts payable assistant.

The top three skills for a finance technician include financial reports, financial management and review contracts. The most important skills for an accounts payable assistant are data entry, purchase orders, and vendor invoices.

Finance technician vs accounts payable assistant overview

	Finance Technician	Accounts Payable Assistant
Yearly salary	$45,251	$37,145
Hourly rate	$21.76	$17.86
Growth rate	-5%	-5%
Number of jobs	89,668	31,341
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 48%	Bachelor's Degree, 49%
Average age	51	51
Years of experience	6	6

What does a finance technician do?

Finance technicians are professionals who perform various tasks that are related to financial accounting for an organization. These technicians are required to provide monthly transaction reports and perform forecasts on their future budget requirements to ensure proper financial management for the organization. They must assist in preparing financial statements to analyze and summarize accounting data for the organization's senior management. Finance technicians must also research and resolve any disputes that involve financial transactions while informing the senior management about any financial discrepancies.

What does an accounts payable assistant do?

An accounts payable assistant is responsible for monitoring the company's billing transactions, ensuring the accurate and efficient completion of the business' financial obligations. Accounts payable assistants process invoices, resolve account discrepancies, manage bank reconciliation, create expense reports, and updating account information on the company's database. They work within a team of the accounting and finance department, assisting with tax filing and audit processes as needed. An accounts payable assistant must have excellent knowledge of the financial industry and accounting principles to perform various duties, as well as doing administrative and clerical tasks as needed.

Finance technician vs accounts payable assistant salary

Finance technicians and accounts payable assistants have different pay scales, as shown below.

	Finance Technician	Accounts Payable Assistant
Average salary	$45,251	$37,145
Salary range	Between $30,000 And $67,000	Between $29,000 And $46,000
Highest paying City	New York, NY	Santa Cruz, CA
Highest paying state	New York	California
Best paying company	Ernst & Young	Emerson College
Best paying industry	Government	Construction

Differences between finance technician and accounts payable assistant education

There are a few differences between a finance technician and an accounts payable assistant in terms of educational background:

	Finance Technician	Accounts Payable Assistant
Most common degree	Bachelor's Degree, 48%	Bachelor's Degree, 49%
Most common major	Business	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Finance technician vs accounts payable assistant demographics

Here are the differences between finance technicians' and accounts payable assistants' demographics:

	Finance Technician	Accounts Payable Assistant
Average age	51	51
Gender ratio	Male, 41.2% Female, 58.8%	Male, 15.2% Female, 84.8%
Race ratio	Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.4% Asian, 6.5% White, 67.8% American Indian and Alaska Native, 0.6%	Black 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%
LGBT Percentage	7%	7%

Differences between finance technician and accounts payable assistant duties and responsibilities

Finance technician example responsibilities.

Develop expertise in use of PeopleSoft system to manage balance accounts for quarterly investment portfolio.
Transmit data to MAJCOM, HQ USAF, & DoD timely.
Provide debt management for the DOD and service members.
Process and review documents associate with PCS, ETS, retirement and/or separation.
Ensure that obligations are correct, record, and submits vouchers to DFAS for processing.
Network and coordinate with DFAS, civilian personnel or other resources to resolve complex problems.

Accounts payable assistant example responsibilities.

Manage revenue ledger including other subsidiary ledgers and responsible for the reconciliation of various income accounts to ensure accuracy of postings.
Issue weekly payments to vendors by check, ACH, domestic wire, and international wire in USD and other currencies.
Assist in accounts payable/receivable including check deposits, credit card payments, ACH payments, credits, check runs, etc.
Compose effective accounting reports summarizing accounts payable data using QuickBooks.
Prepare payroll for salary and hourly personnel, including necessary reports for regulatory bodies.
Respond to payroll accounting inquires; provide resolution, information, or direction accordingly.

Finance technician vs accounts payable assistant skills

Common finance technician skills

Financial Reports, 15%
Financial Management, 13%
Review Contracts, 10%
Financial Transactions, 8%
Treasury, 6%
Bonds, 4%

Common accounts payable assistant skills

Data Entry, 15%
Purchase Orders, 10%
Vendor Invoices, 9%
Payroll, 6%
Vendor Statements, 5%
Financial Reports, 4%

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Finance Technician
Finance Technician vs Accounts Payable Assistant

Updated January 8, 2025

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