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What does a Fixed Asset Accountant do?

Updated January 8, 2025
8 min read
Quoted Expert
Ken Johnston Ph.D.
What does a Fixed Asset Accountant do

A fixed asset accountant is responsible for processing statement reports for the company's assets, organizing account records, and handling bank reconciliations and disputes. Fixed asset accountants must have excellent knowledge of the accounting principles to determine and track the assets dispositions in various accounting systems for reference. They also ensure the accurate balance and calculate the value of all fixed assets for reports. A fixed asset accountant should be highly analytical to measure asset obligations and provide recommendations for asset acquisition.

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Fixed asset accountant responsibilities

Here are examples of responsibilities from real fixed asset accountant resumes:

  • Lead the discussions on the level of asset componentization with respect to compliance IFRS standards.
  • Prepare internal financial reports for treasury manage accounts include in external compliance reports.
  • Monitor purchase orders and calculate month-end accruals.
  • Support internal and external audit requirements and verify SOX documentation.
  • Calculate and reconcile deferred rent liability accruals for office leases.
  • Set up a consolidate and centralize SOX depository for require documentation.
  • Perform cost adjustments, depreciation/amortization, retirement or disposal consistently with GAAP.
  • Review potential fix asset invoices in accordance with capitalization policies and GAAP.
  • Conduct various general ledger entries for inter-company transactions, various operating items and monthly reconciliations for general ledger accounts.
  • Resolve technical coding issue in GSEC entity where securities are being inaccurately release, decreasing deficit numbers and analysis time.
  • Track, analyze and interpret trends in ACH transmission data.
  • Provide QuickBooks training and support to firm clients and internal staff.
  • Record bills, purchase orders, check payments, credit card payments, and W-9s into QuickBooks with accurate departmental coding.
  • Perform consolidations and general ledger management using Lawson software.

Fixed asset accountant skills and personality traits

We calculated that 16% of Fixed Asset Accountants are proficient in Fixed Assets, Reconciliations, and Asset System. They’re also known for soft skills such as Organizational skills, Analytical skills, and Communication skills.

We break down the percentage of Fixed Asset Accountants that have these skills listed on their resume here:

  • Fixed Assets, 16%

    Managed the fixed assets of the corporation and instrumental in implementing a projecting tracking system to help streamline identification of assets

  • Reconciliations, 8%

    Participated in the monthly closing process by preparing applicable journal entries and General Ledger account reconciliations for Capital Assets.

  • Asset System, 6%

    Review monthly asset additions and construction in process assets and enter into fixed asset system for proper depreciation calculations.

  • GAAP, 5%

    Performed cost adjustments, depreciation/amortization, retirement or disposal consistently with GAAP.

  • Financial Statements, 4%

    Supervised monthly closing procedures of retail operations and review financial statements for differences to the annual sales and operating budgets.

  • Account Reconciliations, 4%

    Maintained Access databases ensuring their accuracy and completeness for the purpose of posting automated general ledger entries and prepare account reconciliations.

Common skills that a fixed asset accountant uses to do their job include "fixed assets," "reconciliations," and "asset system." You can find details on the most important fixed asset accountant responsibilities below.

Organizational skills. To carry out their duties, the most important skill for a fixed asset accountant to have is organizational skills. Their role and responsibilities require that "strong organizational skills are important for accountants and auditors, who often work with a range of financial documents for a variety of clients." Fixed asset accountants often use organizational skills in their day-to-day job, as shown by this real resume: "set up new account, location and organizational codes in the costpoint asset module. "

Communication skills. Another skill that relates to the job responsibilities of fixed asset accountants is communication skills. This skill is critical to many everyday fixed asset accountant duties, as "accountants and auditors must be able to listen to and discuss facts and concerns from clients, managers, and other stakeholders." This example from a resume shows how this skill is used: "analyzed and reconciled general ledger accounts on a monthly basis for a multi-million dollar telecommunications corporation. "

Detail oriented. A big part of what fixed asset accountants do relies on "detail oriented." You can see how essential it is to fixed asset accountant responsibilities because "accountants and auditors must pay attention to detail when compiling and examining documents." Here's an example of how this skill is used from a resume that represents typical fixed asset accountant tasks: "develop and maintain detailed procedures for asset management functions. "

Math skills. Another common skill required for fixed asset accountant responsibilities is "math skills." This skill comes up in the duties of fixed asset accountants all the time, as "accountants and auditors must be able to analyze, compare, and interpret facts and figures." An excerpt from a real fixed asset accountant resume shows how this skill is central to what a fixed asset accountant does: "prepared the financial sections of the monthly project status reports, involving accruals and projections of financial statistics for project engineers. "

Most common fixed asset accountant skills

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Compare different fixed asset accountants

Fixed asset accountant vs. Accounting analyst

An accounting analyst is responsible for supporting the accounting operations of an organization, analyzing financial transactions and financial statements, and resolving account discrepancies. Accounting analysts interpret financial data by consolidating account transactions, performing account reconciliation, and managing account receivables. They also assist in preparing and releasing invoices, issuing billing statements, and creating comprehensive financial reports on the company's budget and expenses. An accounting analyst must have excellent knowledge of the accounting principles and disciplines, as well as extensive analytical and communication skills to perform duties and meet deadlines under minimal supervision.

We looked at the average fixed asset accountant salary and compared it with the wages of an accounting analyst. Generally speaking, accounting analysts are paid $1,292 lower than fixed asset accountants per year.While their salaries may differ, the common ground between fixed asset accountants and accounting analysts are a few of the skills required in each roleacirc;euro;trade;s responsibilities. In both careers, employee duties involve skills like fixed assets, reconciliations, and gaap.

While similarities exist, there are also some differences between fixed asset accountants and accounting analyst. For instance, fixed asset accountant responsibilities require skills such as "asset system," "financial statements," "cip," and "asset accounts." Whereas a accounting analyst is skilled in "customer service," "strong analytical," "process improvement," and "financial analysis." This is part of what separates the two careers.

Accounting analysts earn the highest salaries when working in the finance industry, with an average yearly salary of $66,550. On the other hand, fixed asset accountants are paid more in the energy industry with an average salary of $65,229.The education levels that accounting analysts earn slightly differ from fixed asset accountants. In particular, accounting analysts are 0.9% less likely to graduate with a Master's Degree than a fixed asset accountant. Additionally, they're 0.1% less likely to earn a Doctoral Degree.

Fixed asset accountant vs. Accountant/consultant

Accountants/consultants perform accounting tasks for organizations or companies. The accountants improve accounting practices and prepare financial statements at the end of every year. They analyze financial data and offer advice on regulatory compliance issues to the finance department. It is their job to make sure that the online system is secure. Most of the day, they organize invoices, prepare statements, and supervising systems. They should be equipped with analytical skills, industry knowledge, critical thinking, and interpersonal communication.

A career as a accountant/consultant brings a higher average salary when compared to the average annual salary of a fixed asset accountant. In fact, accountant/consultants salary is $4,607 higher than the salary of fixed asset accountants per year.While the salary may differ for these jobs, they share a few skills needed to perform their duties. Based on resume data, both fixed asset accountants and accountant/consultants have skills such as "fixed assets," "reconciliations," and "gaap. "

While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that fixed asset accountant responsibilities requires skills like "asset system," "financial statements," "cip," and "asset accounts." But an accountant/consultant might use other skills in their typical duties, such as, "account management," "product knowledge," "strong analytical," and "leveraged."

Accountant/consultants earn a higher average salary than fixed asset accountants. But accountant/consultants earn the highest pay in the finance industry, with an average salary of $68,479. Additionally, fixed asset accountants earn the highest salaries in the energy with average pay of $65,229 annually.Average education levels between the two professions vary. Accountant/consultants tend to reach similar levels of education than fixed asset accountants. In fact, they're 1.3% less likely to graduate with a Master's Degree and 0.1% more likely to earn a Doctoral Degree.

What technology do you think will become more important and prevalent for Fixed Asset Accountants in the next 3-5 years?

Ken Johnston Ph.D.Ken Johnston Ph.D. LinkedIn Profile

Associate professor of finance, Berry College

Depending on what area of finance you plan on pursuing, there are many different professional designations you can get a significant jump start on. Some examples are: Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), Certified Management Accountant (CMA), Certified Fund Specialist (CFS), Certified Financial Modeling and Valuation Analyst (FMVA) and Chartered Life Underwriter (CLU). It is all about increasing the value of your human capital in your field of choice. Use this time to your advantage.

Fixed asset accountant vs. Account analyst

Account analysts are responsible for analyzing account statements and financial transactions of an organization, resolving billing discrepancies, and managing account receivables. They assess the company's financial stability and identify opportunities to improve data analysis techniques by adhering to accounting principles and the company's operational protocols. Account analysts prepare financial reports, evaluate accounts payable, assist in tax audits, and release invoices. They should have excellent analytical and communication skills, especially on posting accurate account reports on the database.

On average scale, account analysts bring in lower salaries than fixed asset accountants. In fact, they earn a $3,862 lower salary per year.By looking over several fixed asset accountants and account analysts resumes, we found that both roles require similar skills in their day-to-day duties, such as "fixed assets," "reconciliations," and "gaap." But beyond that, the careers look very different.

The required skills of the two careers differ considerably. For example, fixed asset accountants are more likely to have skills like "asset system," "cip," "asset accounts," and "capital projects." But a account analyst is more likely to have skills like "customer service," "patients," "powerpoint," and "balance sheet."

Account analysts earn the highest salary when working in the finance industry, where they receive an average salary of $71,221. Comparatively, fixed asset accountants have the highest earning potential in the energy industry, with an average salary of $65,229.account analysts typically earn similar educational levels compared to fixed asset accountants. Specifically, they're 3.4% less likely to graduate with a Master's Degree, and 0.1% less likely to earn a Doctoral Degree.

Fixed asset accountant vs. Senior accountant analyst

As a senior accountant analyst, your main role is to provide professional guidance to a company. You need to have excellent preparation skills to create financial reports that clearly state the expenses and forecast the company's financial future. You should always aim for accuracy and compliance. Moreover, as a senior accountant analyst, you are supposed to give general operational assistance to the company's management.

Senior accountant analysts tend to earn a higher pay than fixed asset accountants by an average of $15,591 per year.According to resumes from fixed asset accountants and senior accountant analysts, some of the skills necessary to complete the responsibilities of each role are similar. These skills include "fixed assets," "reconciliations," and "gaap. "Each job also requires different skills to carry out their responsibilities. A fixed asset accountant uses "asset system," "financial statements," "cip," and "asset accounts." Senior accountant analysts are more likely to have duties that require skills in "financial analysis," "strong analytical," "erp," and "income statement. "The finance industry tends to pay the highest salaries for senior accountant analysts, with average annual pay of $89,199. Comparatively, the highest fixed asset accountant annual salary comes from the energy industry.In general, senior accountant analysts hold similar degree levels compared to fixed asset accountants. Senior accountant analysts are 1.9% more likely to earn their Master's Degree and 0.0% more likely to graduate with a Doctoral Degree.

Types of fixed asset accountant

Updated January 8, 2025

Zippia Research Team
Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

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