What does a Staff Accountant do?
Staff accountants are employees who are part of the company's accounting department. They are usually certified public accountants (CPAs). Staff accountants should be familiar with accounting tasks. Previous accounting experiences play a huge advantage in their success. They perform a variety of accounting responsibilities such as information verification and analysis, financial report preparation and presentation, financial account reconciliation, billing and payment receiving activities, vendor database management, and invoice processing requirements. They should also know how to do bookkeeping. Staff accountants should have good communication skills, analytical skills, and decision-making skills. They should also be organized and trustworthy since they will be handling confidential information.
Staff accountant responsibilities
A staff accountant plays a vital role in an organization's financial health. They manage various aspects of accounting, including cash receipts and disbursements, and execute general ledger functions. They also analyze monthly departmental profit and loss statements for unusual trends. Dr. Mohamed Abualhaija, Associate Professor of Accounting at Eastern Oregon University, emphasizes the importance of soft skills for staff accountants, stating, "In the corporate world, soft skills are critical. These skills help people deal with diverse situations at work and communicate with others more effectively." In addition to these responsibilities, staff accountants may also assemble and analyze data for financial reports, participate in tax planning, and manage treasury-related activities.
Here are examples of responsibilities from real staff accountant resumes:
- Manage and monitor accounting procedures for compliance with Sarbanes-Oxley and coordinate and facilitate external audit requirements.
- Contribute revenue accruals using job cost system, fix assets including reclassification, reconciliation and depreciation.
- Prepare month-end journal entries and assist in compilation of financial statements, reconcile bank statements and general ledgers.
- Complete audit-quality account reconciliations monthly for balance sheet accounts including the capital projects in progress accounts and miscellaneous revenue accounts.
- Assume responsibility for cash management encompassing wire and ACH transfers processing, bank activity confirmation, and monthly bank account reconciliations.
- Handle all A/R and A/P, payroll, change orders, collections, lien placement and release, vendor account management.
- Record financial activities and assist CPA in preparing financial statements.
- Monitor internal control procedures regulate by corporation and assist outside CPA firm on year-end audit.
- Handle tax returns, assist in incorporation and tax planning, assist in QuickBooks consultation/ implantation
- Perform inventory transfers and adjustments on QuickBooks to ensure accuracy of inventory quantity and cost.
- Provide required documentation and maintain appropriate source documents and other relate records in support of SOX compliance.
- Perform audits, reviews, compilations, and corporate & individual taxation for domestic and multinational corporations.
- Supervise accounting functions including bank reconciliations, draft reconciliations, accounts receivable, store documentation and inter-departmental billings.
- Perform trend analyses to identify financial statement variances and apply fundamental GAAP principles until all discrepancies are resolved.
- Perform month-end financial close responsibilities by generating monthly standard journal entries, generating appropriate accruals, researching variances.
Staff accountant skills and personality traits
We calculated that 15% of Staff Accountants are proficient in Reconciliations, Account Reconciliations, and GAAP. They’re also known for soft skills such as Analytical skills, Communication skills, and Detail oriented.
We break down the percentage of Staff Accountants that have these skills listed on their resume here:
- Reconciliations, 15%
Recruited to conduct daily deposit reconciliation for over 300 retail units and monthly bank statement reconciliations for 50 financial institutions.
- Account Reconciliations, 7%
Performed account reconciliations and general ledger entries Prepared and examined financial records Assisted accounting manager with financial statements Processed month end close
- GAAP, 6%
Audit principles and terminology associated with GAAP and governmental accounting standards, including the preparation of accounting statements and budgeting techniques.
- General Ledger Accounts, 4%
Administered the general bookkeeping aspect of client accounts, and maintained general ledger accounts for financial statement analysis and budgeting purposes.
- External Auditors, 4%
Interacted with external auditors on communicating and presenting the supporting documentation to complete the internal control and financial statement audits timely.
- Internal Controls, 4%
Conducted financial and operational audits daily by examining and verifying accounting and operational records to ensure all internal controls/procedures are met.
Most staff accountants use their skills in "reconciliations," "account reconciliations," and "gaap" to do their jobs. You can find more detail on essential staff accountant responsibilities here:
Communication skills. Another essential skill to perform staff accountant duties is communication skills. Staff accountants responsibilities require that "accountants and auditors must be able to listen to and discuss facts and concerns from clients, managers, and other stakeholders." Staff accountants also use communication skills in their role according to a real resume snippet: "maintain open and regular communication with hr and with employees regarding pay. "
Detail oriented. Another skill that relates to the job responsibilities of staff accountants is detail oriented. This skill is critical to many everyday staff accountant duties, as "accountants and auditors must pay attention to detail when compiling and examining documents." This example from a resume shows how this skill is used: "posted detail business transactions such as allotments, cash receipts, cash disbursements, and revenues. "
Math skills. For certain staff accountant responsibilities to be completed, the job requires competence in "math skills." The day-to-day duties of a staff accountant rely on this skill, as "accountants and auditors must be able to analyze, compare, and interpret facts and figures." For example, this snippet was taken directly from a resume about how this skill applies to what staff accountants do: "complied financial reconciliation statistics for financial reports. "
Organizational skills. Another common skill required for staff accountant responsibilities is "organizational skills." This skill comes up in the duties of staff accountants all the time, as "strong organizational skills are important for accountants and auditors, who often work with a range of financial documents for a variety of clients." An excerpt from a real staff accountant resume shows how this skill is central to what a staff accountant does: "utilized excellent organizational and communication skills to arrange and coordinate special events for vendors and clients. "
The three companies that hire the most staff accountants are:
- Robert Half1,000 staff accountants jobs
- Northpoint158 staff accountants jobs
- Interim HealthCare102 staff accountants jobs
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Compare different staff accountants
Staff accountant vs. Accounting associate
An accounting associate is responsible for supporting the operations of the accounting department, ensuring the stability of the financial services and status of an organization. Accounting associates process invoices, update client accounts on the database, manage financial reports, assist with tax auditing and processing, monitoring the financial statements and activities of the organization, escalate financial disputes, and verify accounts receivable. An accounting associate must have excellent knowledge of the accounting industry, as well as exceptional analytical and time-management skills to perform clerical duties as needed under minimal supervision.
While similarities exist, there are also some differences between staff accountants and accounting associate. For instance, staff accountant responsibilities require skills such as "external auditors," "balance sheet accounts," "payroll tax returns," and "strong analytical." Whereas a accounting associate is skilled in "customer service," "data entry," "purchase orders," and "work ethic." This is part of what separates the two careers.
Accounting associates earn the highest salaries when working in the finance industry, with an average yearly salary of $52,406. On the other hand, staff accountants are paid more in the government industry with an average salary of $57,168.The education levels that accounting associates earn slightly differ from staff accountants. In particular, accounting associates are 2.9% less likely to graduate with a Master's Degree than a staff accountant. Additionally, they're 0.1% more likely to earn a Doctoral Degree.Staff accountant vs. Finance analyst/accountant
In a company setting, a finance analyst/accountant is in charge of handling and monitoring financial activities, ensuring efficiency and accuracy. Their responsibilities revolve around preparing financial reports, performing audits and risk assessments, and identifying any errors and inconsistencies, resolving them promptly and efficiently. They also conduct research and analysis to identify new business opportunities, evaluate the existing procedures to determine its strengths and weaknesses, and recommend solutions to optimize operations for financial growth. Furthermore, as a finance analyst/accountant, it is essential to uphold the company's policies and regulations, including its vision and mission.
In addition to the difference in salary, there are some other key differences worth noting. For example, staff accountant responsibilities are more likely to require skills like "payroll tax returns," "credit card," "income tax returns," and "excellent organizational." Meanwhile, a finance analyst/accountant has duties that require skills in areas such as "payroll," "process improvement," "pivot tables," and "erp." These differences highlight just how different the day-to-day in each role looks.
Finance analyst/accountants earn a higher average salary than staff accountants. But finance analyst/accountants earn the highest pay in the finance industry, with an average salary of $78,897. Additionally, staff accountants earn the highest salaries in the government with average pay of $57,168 annually.In general, finance analyst/accountants achieve similar levels of education than staff accountants. They're 4.1% more likely to obtain a Master's Degree while being 0.1% less likely to earn a Doctoral Degree.What technology do you think will become more important and prevalent for Staff Accountants in the next 3-5 years?
Terri Walsh
Professor/Program Manager, Accounting, Seminole State College of Florida
Staff 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.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from staff accountant resumes include skills like "cpa," "payroll tax returns," "income statement," and "income tax returns," whereas an accounting analyst is more likely to list skills in "customer service," "payroll," "pivot tables," and "process improvement. "
Accounting analysts earn the highest salary when working in the finance industry, where they receive an average salary of $66,550. Comparatively, staff accountants have the highest earning potential in the government industry, with an average salary of $57,168.accounting analysts typically earn similar educational levels compared to staff accountants. Specifically, they're 1.0% more likely to graduate with a Master's Degree, and 0.1% more likely to earn a Doctoral Degree.Staff accountant vs. Accountant internship
An accounting intern is responsible for assisting an organization's accounting department, observing practical applications and processes, and performing accounting duties under the supervision of tenured accounting staff. Accounting interns support the accounting operations by preparing and organizing financial reports, helping with accounts reconciliation, researching financial and stock market trends, utilizing various accounting software, and managing feedback from their mentors. An accounting intern must be detail-oriented and a fast-learner, immediately adjusting to the company's culture and actively cooperating with the team to ensure a smooth flow of operations.
Types of staff accountant
Updated June 25, 2024
