Fund accountant vs general ledger accountant

The differences between fund accountants and general ledger accountants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a fund accountant and a general ledger accountant. Additionally, a fund accountant has an average salary of $60,203, which is higher than the $60,034 average annual salary of a general ledger accountant.

The top three skills for a fund accountant include reconciliations, calculation and securities. The most important skills for a general ledger accountant are reconciliations, GAAP, and balance sheet accounts.

Fund accountant vs general ledger accountant overview

	Fund Accountant	General Ledger Accountant
Yearly salary	$60,203	$60,034
Hourly rate	$28.94	$28.86
Growth rate	6%	6%
Number of jobs	35,702	81,408
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 84%	Bachelor's Degree, 76%
Average age	44	44
Years of experience	4	4

What does a fund accountant do?

A fund accountant provides accounting for an investment portfolio. The investments needed include commodities, securities, and/or real estate in an investment fund like a hedge fund or mutual fund. The role of fund accountants includes activity capturing and recording. Fund accountants prepare accurate and timely values, distributions, yields, and fund accounting output for review. They manage activities associated with fund accounting and domestic equity transactions. Also, they work alongside supervisors when it comes to budget development.

What does a general ledger accountant do?

A general ledger accountant is in charge of ensuring the accuracy of a company's overall accounting processes and information. It is their responsibility to communicate with different departments and officials to gather necessary data, conduct extensive audits, prepare documentation and reports, maintain financial data on the company ledger, and interpret financial information. Furthermore, like a general ledger accountant, it is essential to monitor the progress of accounting processes, all while implementing the company's policies and regulations.

Fund accountant vs general ledger accountant salary

Fund accountants and general ledger accountants have different pay scales, as shown below.

	Fund Accountant	General Ledger Accountant
Average salary	$60,203	$60,034
Salary range	Between $44,000 And $80,000	Between $47,000 And $76,000
Highest paying City	New York, NY	Washington, DC
Highest paying state	New York	California
Best paying company	Warburg Pincus	Citi
Best paying industry	Finance	Technology

Differences between fund accountant and general ledger accountant education

There are a few differences between a fund accountant and a general ledger accountant in terms of educational background:

	Fund Accountant	General Ledger Accountant
Most common degree	Bachelor's Degree, 84%	Bachelor's Degree, 76%
Most common major	Accounting	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Fund accountant vs general ledger accountant demographics

Here are the differences between fund accountants' and general ledger accountants' demographics:

	Fund Accountant	General Ledger Accountant
Average age	44	44
Gender ratio	Male, 61.5% Female, 38.5%	Male, 36.9% Female, 63.1%
Race ratio	Black or African American, 7.6% Unknown, 3.9% Hispanic or Latino, 9.9% Asian, 18.4% White, 59.7% American Indian and Alaska Native, 0.5%	Black or African American, 8.4% Unknown, 4.0% Hispanic or Latino, 10.8% Asian, 15.0% White, 61.4% American Indian and Alaska Native, 0.5%
LGBT Percentage	7%	7%

Differences between fund accountant and general ledger accountant duties and responsibilities

Fund accountant example responsibilities.

Manage fund accounting activities for five funds for an investment manager with $80b in AUM.
Manage accoutningtransition from Quickbooks to Yardi.
Prepare internal financial reports for treasury manage accounts include in external compliance reports.
Record efficiently accounting records, securities positions, corporate actions and journal entries accordance with department policies and procedures.
Process complex transactions for foreign and domestic bonds, equities, futures, and options.
Prepare annual and semi-annual financial statements using GAAP.

General ledger accountant example responsibilities.

Prepare internal financial reports for treasury manage accounts include in external compliance reports.
Perform account analysis, cost accruals, bank reconciliations, inventory reconciliation and analysis; research and recommend transaction corrections.
Maintain ERP general ledger and data in sub module, and perform the expenditure review according to budgeting.
Prepare monthly, reconciliations of subsidiary ledgers to general ledger control accounts.
Reconcile general ledger accounts which including preparing journal entries and accruals in preparation of consolidate financial reports.
Prepare various monthly journal entries to record prepay insurance amortization, payroll deduction liabilities and other liability accruals.

Fund accountant vs general ledger accountant skills

Common fund accountant skills

Reconciliations, 12%
Calculation, 5%
Securities, 5%
GAAP, 5%
Accruals, 5%
Journal Entries, 4%

Common general ledger accountant skills

Reconciliations, 15%
GAAP, 6%
Balance Sheet Accounts, 6%
Payroll, 5%
Accruals, 5%
External Auditors, 4%

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Fund Accountant vs General Ledger Accountant

Updated January 8, 2025

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