What does a grant accountant do?
A grant accountant is responsible for overseeing financial and grant services in an organization. They are responsible for performing accounting and administrative tasks such as gathering and analyzing data, preparing and processing financial statements, conducting audits and assessments, identifying and resolving discrepancies, and handling taxes. They may also prepare forecasts and models, supervise budgets, and submit regular reports to managers. Moreover, a grant accountant must comply with the state, federal, and local financial laws and regulations, keeping abreast of the latest changes.
Grant accountant responsibilities
Here are examples of responsibilities from real grant accountant resumes:
- Manage sub-awards to ensure compliance with federal and state regulations, and OMB circulars prior to payment process.
- Manage all daily and biweekly payroll processes in accordance within establish deadlines.
- Manage derivative accounting at global level and ensure accounting and economic hedging objectives are align.
- Perform grant-related post-award functions, including budget and expense analysis, financial reporting and reconciliations.
- Coordinate audit process with outside CPA firm, audit lead schedules, reports.
- Supervise monthly payroll processing and tax calculations.
- Maintain expertise with the OMB circulars and other regulatory publications
- Prepare journal entries and perform account reconciliations in conjunction with monthly closing procedures.
- Prepare daily SOX audit documentation, ensuring that bank account activity have been reconcile and to identify any outstanding variances.
- Update process flows and flow charts for policies and procedures for identify tasks within derivative accounting for internal control purposes.
- Conduct research in FASB for accounting pronouncements and application of FASB standards.
- Manage derivative accounting at global level and ensure accounting and economic hedging objectives are align.
Grant accountant skills and personality traits
We calculated that 9% of Grant Accountants are proficient in Reconciliations, Grants Management, and GAAP. They’re also known for soft skills such as Analytical skills, Communication skills, and Detail oriented.
We break down the percentage of Grant Accountants that have these skills listed on their resume here:
- Reconciliations, 9%
Maintained State & Federal Quarterly Reports of Expenditures and Revenue and calculated all reconciliations.
- Grants Management, 5%
Prepared and issued accurate and timely quarterly reports using the Grants Management Information System.
- GAAP, 5%
Served as principal financial resource and contact for subcontractors to ensure fiscal compliance of GAAP and OMB circulars.
- Payroll, 5%
Managed all daily and biweekly payroll processes in accordance within established deadlines.
- Financial Analysis, 4%
Reported on financial analysis, project status, and funding availability.
- Expenditure Reports, 4%
Prepare or assist in the preparation of audit grant expenditure reports for each program and grant files for submission to auditors.
Common skills that a grant accountant uses to do their job include "reconciliations," "grants management," and "gaap." You can find details on the most important grant accountant responsibilities below.
Communication skills. Another soft skill that's essential for fulfilling grant accountant duties is communication skills. The role rewards competence in this skill because "accountants and auditors must be able to listen to and discuss facts and concerns from clients, managers, and other stakeholders." According to a grant accountant resume, here's how grant accountants can utilize communication skills in their job responsibilities: "prepare sales & use tax, resort and tourism tax, communications tax, and beverage surcharge tax returns. "
Detail oriented. grant accountants are also known for detail oriented, which are critical to their duties. You can see how this skill relates to grant accountant responsibilities, because "accountants and auditors must pay attention to detail when compiling and examining documents." A grant accountant resume example shows how detail oriented is used in the workplace: "prepare financial schedules detailing grant accounting transactions, cash receipts and drawdowns of federal funds. "
Math skills. A big part of what grant accountants do relies on "math skills." You can see how essential it is to grant accountant responsibilities because "accountants and auditors must be able to analyze, compare, and interpret facts and figures." Here's an example of how this skill is used from a resume that represents typical grant accountant tasks: "assisted with all aspects of month end closing including compiling statistics and financial reports. "
Organizational skills. A commonly-found skill in grant accountant job descriptions, "organizational skills" is essential to what grant accountants do. Grant accountant responsibilities rely on this skill because "strong organizational skills are important for accountants and auditors, who often work with a range of financial documents for a variety of clients." You can also see how grant accountant duties rely on organizational skills in this resume example: "maintain accounting records of financial transactions for organizational teams. "
The three companies that hire the most grant accountants are:
- Robert Half10 grant accountants jobs
- State Of Montana4 grant accountants jobs
- Children's Shelter/The
3 grant accountants jobs
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Compare different grant accountants
Grant 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.
These skill sets are where the common ground ends though. The responsibilities of a grant accountant are more likely to require skills like "grants management," "expenditure reports," "federal regulations," and "financial management." On the other hand, a job as an accounting analyst requires skills like "customer service," "account reconciliations," "strong analytical," and "pivot tables." As you can see, what employees do in each career varies considerably.
Accounting analysts earn the highest salaries when working in the finance industry, with an average yearly salary of $66,550. On the other hand, grant accountants are paid more in the professional industry with an average salary of $57,999.accounting analysts tend to reach lower levels of education than grant accountants. In fact, accounting analysts are 5.6% less likely to graduate with a Master's Degree and 0.4% less likely to have a Doctoral Degree.Grant 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.
Each career also uses different skills, according to real grant accountant resumes. While grant accountant responsibilities can utilize skills like "grants management," "expenditure reports," "federal regulations," and "financial management," accountant/consultants use skills like "account management," "product knowledge," "strong analytical," and "leveraged."
Accountant/consultants earn a higher average salary than grant accountants. But accountant/consultants earn the highest pay in the finance industry, with an average salary of $68,479. Additionally, grant accountants earn the highest salaries in the professional with average pay of $57,999 annually.In general, accountant/consultants achieve lower levels of education than grant accountants. They're 6.0% less likely to obtain a Master's Degree while being 0.4% less likely to earn a Doctoral Degree.What technology do you think will become more important and prevalent for grant accountants in the next 3-5 years?
Terri Walsh
Professor/Program Manager, Accounting, Seminole State College of Florida
Grant 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.
There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, a grant accountant is likely to be skilled in "grants management," "expenditure reports," "federal regulations," and "financial management," while a typical senior accountant analyst is skilled in "account reconciliations," "balance sheet accounts," "strong analytical," and "sox."
Senior accountant analysts earn the best pay in the finance industry, where they command an average salary of $89,199. Grant accountants earn the highest pay from the professional industry, with an average salary of $57,999.senior accountant analysts typically earn similar educational levels compared to grant accountants. Specifically, they're 2.8% less likely to graduate with a Master's Degree, and 0.3% less likely to earn a Doctoral Degree.Grant accountant vs. Certified public accountant
A certified public accountant (CPA) acts as an advisor to small businesses and chief financial officers to Fortune 500 companies. They typically work for both small and large public accounting firms. They offer advice on many issues, such as accounting and taxation. They aid businesses and individuals to plan and achieve their financial goals. There are several requirements to become a CPA, including having a degree in accounting, passing the CPA examination, and obtaining a CPA license to practice.
Types of grant accountant
Updated January 8, 2025
