What does a finance technician 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.

There are some key differences in the responsibilities of each position. For example, finance technician responsibilities require skills like "financial management," "review contracts," "financial transactions," and "treasury." Meanwhile a typical accounts payable assistant has skills in areas such as "purchase orders," "vendor invoices," "payroll," and "vendor statements." This difference in skills reveals the differences in what each career does.

Bookkeepers are employees who are in charge of the company's general ledger. They are well-versed in basic accounting principles, and they apply these in their work. Bookkeepers manage the entry of items in the general ledger, assign items into their proper categories, and ensure that the entries are balanced. They also act as auditors by checking the accuracy and veracity of the receipts or vouchers in their possession before entering them into the system. Bookkeepers ensure that their files are up to date and free of errors.

While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that finance technician responsibilities requires skills like "financial management," "review contracts," "treasury," and "bonds." But a bookkeeper might use other skills in their typical duties, such as, "payroll tax returns," "general ledger accounts," "hr," and "purchase orders."

A payment processor is responsible for managing and informing the clients of their payment obligations for the services offered by a financial institution or other related organizations. Payment processors record transactions and ensure the timely completion of account statements. They discuss the terms and conditions of the service contract with the clients and respond to their inquiries and concerns. A payment processor must have excellent communication and organizational skills, especially in coming up with repayment plans and solutions for clients who are not able to pay services in time.

The required skills of the two careers differ considerably. For example, finance technicians are more likely to have skills like "financial management," "review contracts," "treasury," and "bonds." But a secretary-book keeper is more likely to have skills like "process payroll," "bank accounts," "bank statements," and "balance sheet."