Main Responsibilities and Required Skills for an Accounting Supervisor
An Accounting Supervisor is a professional who oversees and manages the accounting department of an organization. They play a crucial role in maintaining financial accuracy, ensuring compliance with regulations, and providing leadership to a team of accountants. In this blog post, we will describe the primary responsibilities and the most in-demand hard and soft skills for Accounting Supervisors.
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Main Responsibilities of Accounting Supervisor
The following list describes the typical responsibilities of an Accounting Supervisor:
Advise
Advise on the procedures and financial management as well as developing policies.
Analyze
Analyze and reconciles balance sheet accounts.
Analyze employee benefit programs and costs.
Analyze expenses on an ad hoc basis.
Analyze financial data to ensure accuracy, completeness and compliance with GAAP.
Analyze, research, and resolve complex problems.
Answer
Answer and discuss client's questions building a positive a relationship.
Assess
Assess the financial impact of proposed legislation.
Assist in
Assist Accounting Manager with reviewing bookkeepers' work for accuracy.
Assist and coach the staff in the preparation of monthly financial accounting reports and workpapers.
Assist ATR MP Leader to deliver business case of each initiative.
Assist auditors and SOX testers.
Assist AVP and Regional Director in the annual compensation review cycle.
Assist Chief Accounting Officer with other projects as needed.
Assist clients with QuickBooks setup and training.
Assist HR with management and reconciliation of firm group insurance and benefit plans.
Assist HR with the management of the firm's retirement and 401 (k) tax-deferred savings plans.
Assist in implementing the coordination of new business and product implementations and conversions.
Assist in preparation of Board of Directors' memo.
Assist in the preparation of monthly financial statements and sales tax returns.
Assist Property Management and planning staff with capital and expense projects.
Assist with ad hoc reports, as required.
Assist with budgets, audits, forecast and other.
Assist with completion of annual audit.
Assist with month end adjustment journal entries and balance sheet reconciliations.
Assist with month end close and financial reporting.
Assist with month-end, quarter-end, and year end close.
Assist with special projects as requested.
Assist with the month end close process.
Assist with the preparation of job forecasts, as required.
Attend
Attend or delegates attendance of Weekly Group Resume Meeting.
Balance
Balance sheet reconciliations.
Build
Build and maintain positive working relationships with internal production teams.
Build constructive and effective relationships.
Close
Close properties for year-end.
Communicate
Communicate and meet with clients to discuss their financial administration needs.
Communicate financial information to a variety of audiences, and provide policy recommendations.
Compile
Compile, review and submit monthly sales commission reports to be approved by management.
Complete
Complete applications for new acquisitions, prepare monthly B&O backup for Washington State.
Complete bookkeeping as needed.
Complete government surveys as required.
Complete internal audit procedures as needed to ensure policies are followed.
Complete specific financial analyses as needed.
Complete tax return documents related to CAT, Direct Pay, and sales and use tax in multiple states.
Conduct
Conduct internal compliance audits and coordinate with various auditors on an annual basis.
Conduct performance evaluations for accounting team members.
Coordinate
Coordinate activities with other work units or departments.
Coordinate, direct and work closely with a small team of accountants.
Coordinate employee benefit programs with internal and external parties.
Coordinate operational workload around vacations and time off for accounting staff.
Count
Count, balance, organize and monitor own Bank and safe.
Create
Create Journal Entries as part of the month end closing process, as required.
Develop
Develop and manage the process for approving changes to the Division's financial structure.
Develop annual goals for each direct report and meet regularly to discuss progress.
Develop financial and accounting processes, standards and procedures.
Develop processes to help speed up close times or reduce control risk.
Develop, track and report key financial metrics and performance indicators.
Develop training programs to develop and refine the skills of the finance and accounting team.
Direct
Direct reports of 5 staff.
Document
Document internal processes and procedures related to duties and responsibilities.
Drive
Drive problem investigations and resolutions as required.
Ensure
Ensure accuracy of balance sheet account reconciliations in the general ledger.
Ensure accuracy of the general ledger, billing and month end processing.
Ensure alignment to Macro Processes, Risk Management, Routine Management with Global BSC.
Ensure all fixed assets are accounted for and reconciled monthly.
Ensure an efficient and functional backup structure . ›.
Ensure compliance and successful completion of applicable financial controls.
Ensure compliance with accounting and tax regulations.
Ensure controls include the correct balance of preventative and detective controls.
Ensure entries are processed correctly and in a timely manner.
Ensure monthly account reconciliations are completed for material balance sheet accounts.
Ensure payments made on time and accurately.
Ensure proper internal controls in BSC ensuring no material weaknesses possible, and MICS compliance.
Establish
Establish and maintain effective working relationships with other stakeholder groups.
Establish and maintain local policies and procedures inventory control and HVH revenue, payments.
Establish plan for new client setup and transitions.
Forecast
Forecast and plans according to fiscal needs.
Gather
Gather and compile data for the annual insurance renewal process.
Handle
Handle daily Warehouse activity review and reporting.
Hold
Hold self and team accountable to the deliverables and due dates.
Identify
Identify areas for improvement and make constructive suggestions for change.
Identify, discuss and collaborate on process / system improvement opportunities to management.
Identify measures to resolve variances.
Identify potential problems and provide recommendations.
Implement
Implement process improvements or efficiencies with the department.
Implement strategic initiatives to support company goals and objectives.
Influence
Influence and negotiate with others within Head Office and Real Estate Office to meet deadlines.
Input
Input and maintaining all financial records.
Investigate
Investigate reporting discrepancies and communicate issues as they arrive in a timely manner.
Investigate variances in general accounting, reporting, budgets and internal controls.
Issue
Issue Cashier Banks and assign safety deposit boxes for safekeeping of the Banks.
Lead
Lead a team of 4-6, making sure they stay on task with daily and monthly duties.
Lead in the timely and accurate preparation of payroll balance sheet reconciliation.
Lead small teams on special projects assigned by management.
Lead, train, and motivate a successful accounting team.
Lead year-end fiscal processes, including preparation of reports.
Liaise with
Liaise with facility management vendors (landlord, cleaning, security, etc.).
Maintain
Maintain a general ledger of all financial transactions.
Maintain and implement finance, accounting and billing, procedures.
Maintain and oversee all accounting procedures and processes.
Maintain customer financial information and status in ConnectWise.
Maintain fixed asset listing and depreciation schedules for clients.
Maintain harmonious and professional relationship with all departments.
Maintain levels of insurance monthly / as needed.
Maintain the general ledger and various sub-ledgers.
Maintain weekly and monthly recurring entries.
Make
Make petty cash disbursements according to established guidelines.
Manage
Manage all client government remittances to ensure deadlines are met.
Manage and complete client onboarding and transition.
Manage and monitor the accounting team's daily activities.
Manage and monitor the timing and quality of client deliverables.
Manage and supervise accounting department employees.
Manage collection efforts of and report on past due accounts.
Manage escalations / offer solutions . ›.
Manage fund accounting recruitment, training and performance evaluations.
Manage general ledger and intercompany account reconciliations.
Manage, lead, mentor & train a team of 2-4 degreed professionals.
Manage monthly reconciliations of all accounting ledgers.
Manage regional audit requirements with external and internal auditors, as applicable.
Manage team's activities in order to meet SLA / KPI requirements at optimal cost.
Manage the payment of international retail vendors.
Measure
Measure KPI's to assess team performance and report achievements / development plans.
Monitor
Monitor bank wires and transfers and maintain banking relationships.
Monitor customer account details for non-payments, delayed payments, and other irregularities.
Monitor of accruals, and review payroll entries.
Monitor Finance Charges on Group Accounts for the month - write offs where applicable.
Monitor the City Ledger Aging - delegating collection assignments for both Hotel & Club member.
Oversee
Oversee and complete audits and tax audits.
Oversee budget reports, preparation of budgets, and analysis of budgets.
Oversee day to day Account to Report Process activities to meet SLA / KPI requirements for service.
Oversee general accounting, accounts payable and cash receipts.
Oversee online accounting applications.
Oversee Sales & Use Tax returns.
Oversee the accounts payable and accounts receivable processes, and assist when needed.
Oversee the monthly and annual close.
Oversee the smooth operation of the Invoice and Expense modules.
Oversee the Visa credit card system as administrator.
Own
Own and manage AP processes for the company.
Participate in
Participate in and support all related and cross-functional initiatives.
Participate in special projects, prepare ad hoc reports, and other duties as required.
Perform
Perform a broad range of accounting functions and process management.
Perform accounts receivable and accounts payable.
Perform an analytical review and variance analysis of all P& L accounts on a monthly basis.
Perform and / or review complex accounting reconciliations and balance sheet trend analysis.
Perform any additional duties as assigned by the Director of Finance or Controller.
Perform day to day accounting functions in compliance with US GAAP.
Perform other duties as assigned.
Perform other duties as assigned by manager.
Perform reconciliations of all Balance Sheet accounts on a monthly basis.
Prepare
Prepare and analyze monthly financial statements.
Prepare and interpret the biweekly cash report.
Prepare and issue monthly management reports for various departments.
Prepare and review financial statements for clients.
Prepare and review investor capital call and distributions.
Prepare and review trial balances and other work papers.
Prepare and review trial balances and workpaper product.
Prepare detailed journal entries and account analysis.
Prepare financial statements and analysis for the whole of the company.
Prepare government remittance reports.
Prepare Individual, Business and Not for Profit Income Tax Returns.
Prepare internal records for independent review / audit.
Prepare monthly financial statements, cash flow reports, and financial analyses.
Prepare reconciliations and detailed analysis.
Prepare reports for management.
Prepare the Daily Cash Report.
Prepare the month end Aging ANALYSIS.
Prepare various reports upon management's requests to support the leadership team.
Prepare various technical accounting analyses, policies, and procedures.
Prepare yearly tax provision workpapers and corporate income tax workpapers.
Process
Process capital calls, distributions, and statements for the PE accounts.
Process funding requests and settlements.
Process HST and code documents.
Produce
Produce and provide variance analysis property reporting packages for joint venture partners.
Provide
Provide back-up support to the receiving, billing and accounts payable functions, as necessary.
Provide coverage for payroll preparation.
Provide daily support to the finance staff ensure daily tasks are complete and accurate.
Recommend
Recommend improvements to Financial processes to the Director of Finance and Controller.
Record
Record and research all financial information for analysis.
Report
Report on the financial status on a regular basis and create ad-hoc reports when needed.
Research
Research and resolve discrepancies.
Resolve
Resolve any queries related to A / R or invoices.
Resolve fund accounting enquiries escalated by Supervisor or Administrator.
Resolve work related problems.
Review
Review accounts for balances that require further investigation.
Review and correct material errors and close out retained earnings.
Review and post journal entries.
Review cash flow and foreign purchases for weekly AP payments.
Review cheque listing and vouchers to verify correct payments.
Review customers to ensure appropriate levels of Trade Credit Insurance are applied.
Review GL accounts periodically throughout month, proposing corrections as needed.
Review invoicing for reimbursable real estate taxes.
Review month-end journal entries and forwards results to Controller for further analysis.
Review monthly financials provided by third-party manager and post activity in Yardi.
Review private equity fund clients partnership agreements, PPMs, and other materials.
Review results with department heads as needed.
Review tasks, account reconciliation.
Review the work of 3 Accountants.
Seek
Seek increased responsibilities.
Set
Set and track financial KPIs.
Stay
Stay apprised of changes in sales tax rates and communication changes accordingly.
Supervise
Supervise accounting staff, including accounts payable, accounts receivable, billing, and payroll.
Supervise and develop accounting team members.
Supervise a team of 2-3 direct reports, including A / P and A / R..
Supervise Mortgage Accountant.
Supervise one employee and support other members of the Finance team.
Supervise professional and technical staff in the Finance & Accounting Support Unit.
Supervise Staff Accountants.
Supervise the accounts payable function.
Supervise, train, and manage personnel on accounting systems and procedures.
Supervise two or more team members.
Support
Support and manage the procure to pay process and manage the bi-weekly payment runs.
Support Cash Flow Analysis (AP to AR).
Support OPCO finance leads with ad hoc reporting.
Support staff in financial and accounting functions.
Support the team in setting up the project cost codes and the project baseline budget.
Support Treasury team with new vendor setup, property tax payments, and various other tasks.
Take
Take independent actions and calculated risks.
Take ownership of designated tasks on an individual and team basis.
Track
Track and manage invoices.
Track asset purchases and retires, calculate and post depreciation for fixed assets.
Train
Train, motivate and develop staff of accountants.
Train new employees as needed.
Train staff and act as a leader.
Train workers in duties and policies.
Verify
Verify existence of receivable accounts and aging.
Work with
Work closely with the Controller to ensure accounting deliverables are met within set timelines.
Work collaboratively with the accounting team to ensure all accounts are accurate.
Work effectively as a leader within a team environment.
Work on multiple projects simultaneously, with shifting priorities and tight deadlines.
Most In-demand Hard Skills
The following list describes the most required technical skills of an Accounting Supervisor:
Advanced knowledge of accounting principles and financial reporting standards (e.g., GAAP, IFRS).
Proficiency in using accounting software and enterprise resource planning (ERP) systems.
Expertise in financial analysis, budgeting, and forecasting.
Strong understanding of tax regulations and compliance requirements.
Experience with internal controls and risk management.
Knowledge of cost accounting principles and methodologies.
Familiarity with financial auditing processes and procedures.
Proficiency in using financial reporting and business intelligence tools.
Advanced Excel skills for financial modeling and data analysis.
Ability to interpret and analyze complex financial data.
Understanding of international accounting standards and currency exchange.
Knowledge of financial planning and cash flow management.
Experience with fixed asset accounting and depreciation.
Familiarity with project accounting and cost control.
Competency in using financial management software and systems.
Understanding of regulatory filings and compliance requirements.
Strong technical acumen and ability to adapt to evolving accounting technologies.
Knowledge of inventory management and valuation.
Proficiency in financial consolidation and reporting for multiple entities.
Skill in financial systems implementation and process improvement.
Most In-demand Soft Skills
The following list describes the most required soft skills of an Accounting Supervisor:
Leadership: Demonstrating strong leadership qualities and the ability to motivate and guide a team.
Communication skills: Effectively communicating complex financial information to stakeholders at various levels of the organization.
Analytical thinking: Applying critical thinking skills to solve problems, identify trends, and make informed financial decisions.
Attention to detail: Ensuring accuracy and precision in financial reporting and analysis.
Time management: Prioritizing tasks, meeting deadlines, and managing multiple responsibilities effectively.
Collaboration: Working well with cross-functional teams and fostering a collaborative work environment.
Adaptability: Being flexible and open to change in a dynamic accounting and business environment.
Integrity and ethics: Upholding the highest ethical standards and maintaining confidentiality in handling financial data.
Decision-making: Making informed and sound decisions based on financial analysis and organizational goals.
Continuous learning: Keeping up with industry trends, accounting regulations, and emerging technologies to enhance skills and knowledge.
Conclusion
Accounting Supervisors play a pivotal role in ensuring the accuracy, compliance, and integrity of an organization's financial operations. Their responsibilities span from leading and supervising accounting teams to overseeing financial reporting, analysis, and compliance. Possessing a combination of hard and soft skills is essential for success in this role.
