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The differences between payment processors and accounting assistants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a payment processor and an accounting assistant. Additionally, an accounting assistant has an average salary of $39,569, which is higher than the $34,030 average annual salary of a payment processor.
The top three skills for a payment processor include customer service, patients and data entry. The most important skills for an accounting assistant are data entry, customer service, and reconciliations.
| Payment Processor | Accounting Assistant | |
| Yearly salary | $34,030 | $39,569 |
| Hourly rate | $16.36 | $19.02 |
| Growth rate | -5% | -5% |
| Number of jobs | 33,161 | 63,945 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 35% | Bachelor's Degree, 55% |
| Average age | 51 | 51 |
| Years of experience | 6 | 6 |
A payment processor is responsible for managing and informing the clients of their payment obligations for the services offered by a financial institution or other related organizations. Payment processors record transactions and ensure the timely completion of account statements. They discuss the terms and conditions of the service contract with the clients and respond to their inquiries and concerns. A payment processor must have excellent communication and organizational skills, especially in coming up with repayment plans and solutions for clients who are not able to pay services in time.
An accounting assistant is responsible for supporting the daily operations of the business' accounting department, from reviewing financial transactions to the submission of financial reports. Accounting assistants' duties include performing data entry and clerical tasks, maintaining a safe record of account statements, updating and analyzing transactions, verifying the accuracy of financial records, and managing customers and vendors' inquiries as immediate as possible. An accounting assistant must have a broad knowledge of the accounting principles and processes, as well as excellent communication and time-management skills, especially on meeting strict deadlines and doing complex tasks as needed.
Payment processors and accounting assistants have different pay scales, as shown below.
| Payment Processor | Accounting Assistant | |
| Average salary | $34,030 | $39,569 |
| Salary range | Between $27,000 And $42,000 | Between $30,000 And $50,000 |
| Highest paying City | San Jose, CA | Washington, DC |
| Highest paying state | Alaska | New York |
| Best paying company | University of California, Berkeley | Los Alamos National Laboratory |
| Best paying industry | Insurance | Finance |
There are a few differences between a payment processor and an accounting assistant in terms of educational background:
| Payment Processor | Accounting Assistant | |
| Most common degree | Bachelor's Degree, 35% | Bachelor's Degree, 55% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between payment processors' and accounting assistants' demographics:
| Payment Processor | Accounting Assistant | |
| Average age | 51 | 51 |
| Gender ratio | Male, 21.5% Female, 78.5% | Male, 20.1% Female, 79.9% |
| Race ratio | Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.5% Asian, 6.6% White, 67.4% American Indian and Alaska Native, 0.6% | Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.5% Asian, 6.6% White, 67.5% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 7% | 7% |