Loan clerk vs accounting clerk

The differences between loan clerks and accounting clerks can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a loan clerk, becoming an accounting clerk takes usually requires 4-6 years. Additionally, an accounting clerk has an average salary of $38,683, which is higher than the $26,552 average annual salary of a loan clerk.

The top three skills for a loan clerk include customer service, loan payments and financial data. The most important skills for an accounting clerk are data entry, customer service, and purchase orders.

Loan clerk vs accounting clerk overview

	Loan Clerk	Accounting Clerk
Yearly salary	$26,552	$38,683
Hourly rate	$12.77	$18.60
Growth rate	-3%	-5%
Number of jobs	75,101	106,969
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 49%
Average age	42	51
Years of experience	4	6

Loan clerk vs accounting clerk salary

Loan clerks and accounting clerks have different pay scales, as shown below.

	Loan Clerk	Accounting Clerk
Average salary	$26,552	$38,683
Salary range	Between $19,000 And $35,000	Between $29,000 And $51,000
Highest paying City	Newark, NJ	Washington, DC
Highest paying state	California	New York
Best paying company	UFCU	Wilson Elser Moskowitz Edelman & Dicker Llp
Best paying industry	Finance	Government

Differences between loan clerk and accounting clerk education

There are a few differences between a loan clerk and an accounting clerk in terms of educational background:

	Loan Clerk	Accounting Clerk
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 49%
Most common major	Business	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Loan clerk vs accounting clerk demographics

Here are the differences between loan clerks' and accounting clerks' demographics:

	Loan Clerk	Accounting Clerk
Average age	42	51
Gender ratio	Male, 16.9% Female, 83.1%	Male, 20.0% Female, 80.0%
Race ratio	Black or African American, 12.9% Unknown, 4.7% Hispanic or Latino, 14.6% Asian, 7.0% White, 60.3% American Indian and Alaska Native, 0.5%	Black or African American, 6.9% Unknown, 4.0% Hispanic or Latino, 14.6% Asian, 6.6% White, 67.2% American Indian and Alaska Native, 0.6%
LGBT Percentage	7%	7%

Differences between loan clerk and accounting clerk duties and responsibilities

Loan clerk example responsibilities.

Manage A/R transactions, prepare weekly account reconciliation's, perform research/ adjustments on A/P and A/R discrepancy accounts.
Monitor UCC filings and updates.
Prepare SBA loans using WordPrefect.
Record UCC filings on-line and by mail.
Review loan files, facilitate and verify loss mitigation application request, determine eligibility for clients requesting foreclosure financial assistance.
Work with HUD the VA and FHA to make sure all requirements are completed.

Accounting clerk example responsibilities.

Manage revenue ledger including other subsidiary ledgers and responsible for the reconciliation of various income accounts to ensure accuracy of postings.
Perform balance sheet reconciliations and resolve open items by notifying employees and vendors of transaction discrepancies.
Assist in monthly financial close process by analyzing preliminary departmental expense reports and making necessary adjustments and accruals.
Develop a spreadsheet that pulls all data relate to project hours by operation from the ERP system.
Process all incoming payments receive via ACH, EFT, or the web; ensure accounts are accurately balance and reconcile.
Digitize proof of delivery receipts into ERP system (AS400) serving as an easy backup for employees to verify occurrence.

Loan clerk vs accounting clerk skills

Common loan clerk skills

Customer Service, 22%
Loan Payments, 12%
Financial Data, 10%
Mortgage Loans, 5%
Credit Reports, 4%
General Ledger Accounts, 3%

Common accounting clerk skills

Data Entry, 15%
Customer Service, 10%
Purchase Orders, 9%
Reconciliations, 6%
Vendor Invoices, 6%
QuickBooks, 3%