Main Responsibilities and Required Skills for an Accounts Assistant

An Accounts Assistant is a professional who plays a crucial role in managing the financial activities of an organization. They provide support to the accounting department by performing various tasks related to financial transactions, record-keeping, and data analysis. In this blog post, we describe the primary responsibilities and the most in-demand hard and soft skills for Accounts Assistants.

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Main Responsibilities of an Accounts Assistant

The following list describes the typical responsibilities of an Accounts Assistant:

Assist in

Assist in 5-day payables and accrual close process.
Assist in financial planning and analysis.
Assist in improving financial controls and processes.
Assist in the audit process by providing necessary documentation and support.
Assist in the development and implementation of financial policies and procedures.
Assist in the preparation of financial forecasts and budgets.
Assist in the preparation of financial presentations for management.
Assist in the preparation of financial projections and variance analysis.
Assist in the preparation of financial statements and reports.
Assist in the preparation of tax returns and ensure compliance.
Assist in traditional and digital marketing strategy with the Account Executives and Media Buyers.
Assist the controller in the day to day operations of the accounting department.
Assist the Head of Finance with preparing management accounts on a monthly basis.
Assist the Management Accountant with any adhoc tasks.
Assist with budget preparation and expense tracking.
Assist with financial audits and inspections.
Assist with other finance tasks as required.
Assist with preparation of budgeting.
Assist with preparation of year-end statutory accounts including exposure to the audit process.
Assist with the internal and external statutory audit process.

Check

Check of credit amounts across different systems.
Check spreadsheets for accuracy.

Clean

Clean code and functional applications.

Code

Code data for input to financial data processing system according to company procedures.

Collaborate with

Collaborate with team members for smooth financial operations.

Collect

Collect, record and process payments.

Communicate

Communicate with other team members to obtain required documentation and financial information.
Communicate with patients, insurance carriers and other outside entities in a professional manner.

Compile

Compile and sort documents, such as invoices and checks, substantiating business transactions.

Complete

Complete all administration in a timely manner (including timesheets) and to a high standard.
Complete other accounting related duties, as required.

Conduct

Conduct financial analysis and generate reports.
Conduct periodic reviews of financial processes and suggest improvements.
Conduct research on accounting regulations and best practices.

Contribute

Contribute in building a high-performing team.

Coordinate

Coordinate employee expense claims.
Coordinate the submission of employee time sheets.
Coordinate with internal teams and external stakeholders regarding financial matters.
Coordinate with Purchasing team to resolve billing issues and any outstanding questions.

Cover

Cover for Bank reconciliations in absence of other team members.

Create

Create new supplier records in MS Dynamics Great Plains accounting system.

Discover

Discover, map and maintain key stakeholder relationships for an account.

Distribute

Distribute incoming faxes to appropriate patient accounts team member.

Download

Download daily bank statement updates.

Ensure

Ensure all vendors are paid in a timely manner.
Ensure that credit terms are met for both debtors and creditors.

Enter

Enter financial transactions into internal databases.

Generate

Generate financial reports.

Handle

Handle payroll tasks, including salary and deduction calculations.
Handle queries, answering emails and phone calls.

Help

Help with the preparation of budgets & forecasting reports.

Input

Input of receipts and payments from the bank statement into the general ledger system.
Input of stock invoices, stock supplier reconciliations and weekly payment run.

Interact with

Interact with different departments to improve processes and systems.

Investigate

Investigate errors in reconciliations and reports.

Issue

Issue invoices to customers and external partners, as needed.
Issue statements to customers.

Keep

Keep abreast of changes in financial regulations and legislation.

Liaise with

Liaise with external accountants.
Liaise with staff, clients and suppliers.
Liaise with the external accountants in the preparation of VAT / Tax returns.

Maintain

Maintain accounting ledgers by verifying and posting account transactions.
Maintain accurate and up-to-date financial records.
Maintain a variety of different spread sheets to monitor financial and contractor information.
Maintain confidentiality and data integrity of financial information.
Maintain digital and physical financial records.
Maintain historical records by filing documents.
Maintain the integrity of the Supplier Master Files and Ledger entries.

Manage

Manage accounts mailbox on a rotational basis.
Manage accounts payable and accounts receivable.
Manage and maintain digital and hardcopy filing.
Manage and maintain Petty Cash records.
Manage rent roll, leases, and vendor contracts.
Manage staff and credit card expenses.

Match

Match stock invoices to purchases orders and post invoices onto Exact system.

Monitor

Monitor and analyze financial data to identify trends and issues.
Monitor and control expenses.
Monitor and manage stock invoices received.
Monitor cash flow and manage petty cash.
Monitor Client creditor reports and follow up older items for closure.

Organise

Organise customer refunds.
Organise Direct Debit for payments.

Own

Own employee expenses, making sure they are allocated accurately and timely.
Own transport to travel to any of the three offices when required.

Participate in

Participate in professional development activities to enhance skills and knowledge.
Participate in quarterly and annual audits.

Perform

Perform general administrative tasks related to accounting.

Prepare

Prepare accurate payroll journal entry, and payroll related analysis and reconciliations.
Prepare expenses report and invoice chargeable expenses to clients.
Prepare journal entries for the month-end close process for revenue, and balance sheet accounts.
Prepare quarterly VAT returns and reconciliation.
Prepare, scan, and balance check payments received through mail.
Prepare, scan, verify, and file documents in EMR using file resource to ensure accurate filing.
Prepare weekly payment runs.
Prepare wire transfer payments and update cash management system.

Process

Process accounts payable, receivable and payroll.
Process all company expenses and provide support to other employees where necessary.
Process daily bank and portfolio reconciliations.
Process invoices, receipts, and payments.
Process non-purchase order invoices in the purchasing system.
Process operational and brokerage invoices.
Process purchase invoices.
Process sales invoices in Xero and send out to customers.
Process supplier invoices.
Process transactions in accordance with company financial policies and procedures.

Produce

Produce and analyse management information.

Protect

Protect organisation's value by keeping information confidential.

Provide

Provide assistance to finance team for AP and AR postings.
Provide clerical and administrative support to management as requested.
Provide information to the external accountant who creates the company's financial statements.
Provide support across the wider finance team.
Provide support during financial system implementations or upgrades.
Provide support on an ad hoc basis in other business operations areas as required.

Raise

Raise invoices for customers, import invoices from suppliers.
Raise manual payments i.e. intercompany, as and when required.
Raise sales invoices and manage debt collection.

Reconcile

Reconcile bank accounts and other control accounts on a frequent basis.
Reconcile bank statements and resolve discrepancies.
Reconcile invoices and identify discrepancies.
Reconcile monthly control accounts.
Reconcile processed work by verifying entries and comparing system reports to balances.
Reconcile report discrepancies and problems.
Reconcile Supplier statements.

Research

Research and resolve invoice discrepancies and issues.
Research tells us that some candidates are put off from applying because they cannot tick every box.
Research, track and restore accounting or documentation problems and discrepancies.

Resolve

Resolve portfolio queries.

Review

Review and analyse credit card spend monthly.
Review and authorise supplier statement reconciliations.
Review and file payroll documents.
Review and investigate debtors listing frequently.
Review supplier contracts regularly e.g. utilities.
Review VAT treatments and identifies any VAT anomalies.

Run

Run an Aged Creditors report on a weekly basis.

Schedule

Schedule weekly for account payable.

Stay up-to-date with

Stay up-to-date with accounting principles and regulations.

Support

Support the preparation of the monthly turnover reconciliation and postings.
Support the production of regulatory reporting.
Support with monthly internal wages run.
Support with the preparation if the Monthly Management Accounts.

Track

Track and manage inventory and fixed assets.
Track and resolve accounting problems and discrepancies as needed.

Type

Type accurately, prepare and maintain accounting documents and records.

Understand

Understand our target audience better, delight them.
Understand portfolio basics (balance, arrears, interest, ledger etc).

Update

Update cashbooks for payments and receipts.
Update customer PO trackers with new CCNs, SOWs and PO's.
Update system with current job status.

Upload

Upload customer and supplier invoices onto Sage – both Accounts Receivable & Payable.

Utilize

Utilize accounting software and tools for daily tasks.
Utilize Concur (travel & expense system) to process expense reports.

Verify

Verify and reconcile financial documents and statements.
Verify vendor accounts by reconciling monthly statements and related transactions.

Work with

Work closely with internal stakeholders.
Work closely with the IT team in joint projects and initiatives to improve reporting.
Work is an independent media and marketing services agency.
Work well in a team but can work autonomously when necessary.

Most In-demand Hard Skills

The following list describes the most required technical skills of an Accounts Assistant:

Proficiency in accounting software (e.g., QuickBooks, SAP, or Xero).
Knowledge of financial principles and accounting standards.
Ability to perform bank reconciliations and handle financial transactions.
Understanding of financial statements and their analysis.
Experience in using spreadsheets and data analysis tools (e.g., Microsoft Excel or Google Sheets).
Familiarity with payroll processing and relevant regulations.
Knowledge of tax regulations and ability to prepare tax returns.
Ability to work with financial databases and generate reports.
Understanding of inventory management and cost control.
Proficiency in using financial modeling and forecasting tools.
Knowledge of budgeting and expense management.
Ability to perform financial analysis and interpret data.
Understanding of internal controls and risk management.
Knowledge of financial software and ERP systems.
Ability to handle multiple tasks and prioritize work effectively.
Attention to detail and accuracy in financial record-keeping.
Proficiency in MS Office Suite (Word, PowerPoint, etc.).
Understanding of project accounting and cost allocation.
Knowledge of financial regulations and compliance requirements.
Ability to adapt to new technologies and accounting practices.

Most In-demand Soft Skills

The following list describes the most required soft skills of an Accounts Assistant:

Strong attention to detail and high level of accuracy.
Excellent organizational and time management skills.
Strong communication skills, both written and verbal.

Ability to work well in a team and collaborate with colleagues.

Analytical thinking and problem-solving abilities.
Good numerical and mathematical skills.
Integrity and ethical behavior in handling financial information.
Adaptability and flexibility to handle changing priorities.
Strong work ethic and ability to meet deadlines.
Excellent interpersonal skills and professional demeanor.
Proactive approach to identifying and resolving financial issues.
Ability to maintain confidentiality and handle sensitive information.
Attention to detail and a meticulous approach to work.
Strong critical thinking skills and the ability to make sound judgments.
Effective decision-making skills based on financial analysis.
Ability to work independently and take ownership of assigned tasks.
Customer service orientation and responsiveness to queries.
Strong problem-solving skills and the ability to find innovative solutions.
Resilience and ability to work under pressure.
Continuous learning mindset to stay updated with industry trends and regulations.

Conclusion

An Accounts Assistant plays a vital role in supporting the accounting function of an organization. They have various responsibilities related to financial management, record-keeping, analysis, and reporting. Along with the required hard skills, possessing essential soft skills is equally important to excel in this role. By developing a combination of technical expertise and interpersonal abilities, Accounts Assistants can contribute significantly to the financial success of their organizations.