Inventory accountant vs general ledger accountant

The differences between inventory 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 an inventory accountant and a general ledger accountant. Additionally, a general ledger accountant has an average salary of $60,034, which is higher than the $59,285 average annual salary of an inventory accountant.

The top three skills for an inventory accountant include reconciliations, financial statements and external auditors. The most important skills for a general ledger accountant are reconciliations, GAAP, and balance sheet accounts.

Inventory accountant vs general ledger accountant overview

	Inventory Accountant	General Ledger Accountant
Yearly salary	$59,285	$60,034
Hourly rate	$28.50	$28.86
Growth rate	6%	6%
Number of jobs	56,492	81,408
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 71%	Bachelor's Degree, 76%
Average age	44	44
Years of experience	4	4

What does an inventory accountant do?

An inventory accountant is in charge of overseeing and managing the costs involving a company's inventory operations. It is their duty to monitor transactions, update general ledgers, gather and analyze data, perform audits and assessments, and produce regular inventory reports. They must also observe and be alert for any inconsistencies and discrepancies, dealing with them according to the policies and regulations. Moreover, an inventory accountant must maintain an active communication line with staff for a smooth and efficient workflow.

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.

Inventory accountant vs general ledger accountant salary

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

	Inventory Accountant	General Ledger Accountant
Average salary	$59,285	$60,034
Salary range	Between $46,000 And $76,000	Between $47,000 And $76,000
Highest paying City	San Francisco, CA	Washington, DC
Highest paying state	California	California
Best paying company	RH	Citi
Best paying industry	Energy	Technology

Differences between inventory accountant and general ledger accountant education

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

	Inventory Accountant	General Ledger Accountant
Most common degree	Bachelor's Degree, 71%	Bachelor's Degree, 76%
Most common major	Accounting	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Inventory accountant vs general ledger accountant demographics

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

	Inventory Accountant	General Ledger Accountant
Average age	44	44
Gender ratio	Male, 50.6% Female, 49.4%	Male, 36.9% Female, 63.1%
Race ratio	Black or African American, 8.9% Unknown, 4.0% Hispanic or Latino, 11.2% Asian, 12.1% White, 63.4% 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 inventory accountant and general ledger accountant duties and responsibilities

Inventory accountant example responsibilities.

Prepare internal financial reports for treasury manage accounts include in external compliance reports.
Collaborate with external CPA firm in recording accumulate amortization/depreciation and extend tax returns.
Provide monthly consignment inventory balances to customers, roll-forward reports and reconciliations for goods in transit.
Perform both wire and ACH transfers on a weekly basis.
Prepare checks, including ACH transactions, wire transfers, web payments.
Review and verify paperwork for all vehicle purchases to satisfy SOX and internal audit procedures and standards.

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.

Inventory accountant vs general ledger accountant skills

Common inventory accountant skills

Reconciliations, 11%
Financial Statements, 4%
External Auditors, 4%
Internal Controls, 4%
Account Reconciliations, 4%
GAAP, 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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Inventory Accountant vs General Ledger Accountant

Updated January 8, 2025

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