Main Responsibilities and Required Skills for Accounting Associate
An Accounting Associate is a professional who supports the work of accountants and helps maintain a company's financial records. They record transactions, perform tasks for billing and invoicing, and assist with budget preparation. In this blog post we describe the primary responsibilities and the most in-demand hard and soft skills for Accounting Associates.
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Main Responsibilities of Accounting Associate
The following list describes the typical responsibilities of an Accounting Associate:
Adhere to
Adhere to deadlines and commitments, follow up as needed.
Administer
Administer Federations' Assessments Billings, Payments, and Balances.
Advise
Advise stores, operations and security on all accounts where procedure wasn't followed.
Analyze
Analyze and reconcile general ledger accounts.
Assemble
Assemble paper cheques for suppliers with the related supplier invoices.
Assist in
Assist in annual budgeting and quarterly forecasting exercises.
Assist in building policies and procedures to help automate the department 10%.
Assist in development and implementation of job costing and PO system.
Assist in preparing and analyzing pricing and valuation materials.
Assist in preparing monthly financial reporting packages for senior management.
Assist in the creation of the annual plan and quarterly forecasts for the client group.
Assist in the month end accounting process.
Assist Property Management with the collections process.
Assist the Senior Accountant with the calculation and review of commission revenue and payments.
Assist with annual grant audits, budget modifications, and grant closeouts.
Assist with daily foreign exchange hedging.
Assist with Global and other department projects and initiatives on an ad hoc basis.
Assist with monthly interest allocations and assist in interest inquiries.
Assist with or perform client research and analysis.
Assist with preparation and posting of general, adjusting and closing journal entries.
Assist with preparation of tax package for CPA.
Assist with projects and initiatives as required.
Assist with special projects and other duties that may arise.
Assist with the calculation of fees (i.e. Management and Incentive) as needed.
Assist with the coordination and organization of tax information.
Assist with updates to data within Tango to reflect the most recent agreements.
Attend
Attend and contribute to meetings for client engagements.
Close
Close accounting books on a timely fashion at the end of each month.
Code
Code and process monthly credit card statements.
Communicate
Communicate and present monthly reviews of P&L performance and ad-hoc metrics.
Communicate effectively with internal audiences and client groups.
Compare
Compare invoices with contracts to ensure proper billing and revenue recognition.
Compare payroll hours clocked against employee schedules.
Compile
Compile and analyze financial information for management reports.
Compile and collect documentation and data required for internal or external audits.
Compile sourcing documents for credit card statements and reconcile company credit card statements.
Complete
Complete ad hoc customer credits and rebill invoicing as requested by Customer Service.
Complete monthly and monthly sales reports and analysis.
Conduct
Conduct bank statement reconciliations, prepare trial balances and verify other accounting records.
Contribute
Contribute on a variety of client projects and ad hoc analysis.
Coordinate
Coordinate purchase order and invoice processing activities.
Create
Create and support the company's Indirect Procurement activities.
Create and update financial models and provide ad-hoc financial analysis.
Create program sheets for new product and enter masters in Storis.
Deposit
Deposit and reconcile payments from developers, ensuring completeness of payments.
Deposit checks and cash received though remote deposit or at the bank.
Develop
Develop and oversee staff in delivery of services.
Develop budgets and projections.
Develop and nurture prospect pipeline, driving a high level of lead generating activities.
Document
Document financial transactions by entering lease information to payment system, Tango.
Ensure
Ensure all balance sheet reconciliations are completed in a timely and accurate manner.
Ensure an accurate and timely month end close.
Ensure proper information is given for payment of debts.
Ensure that available technology is fully utilized in the most efficient manner.
Ensure that balance sheet reconciliations are completed in a timely and accurate manner.
Ensure we obtain W-9 forms as needed and maintain our Form W-9 file.
Enter
Enter invoices into the ERP system.
Enter and post deposits.
Enter the check payments into the Cumulative Deposits spreadsheet.
Enter the deposits into GP.
Establish
Establish accounting practices.
Execute
Execute on daily payables and ensure payables are current.
File
File invoices and maintain organized vendor files.
Fill in
Fill in forms for new Suppliers.
Follow up
Follow up with the sales reps until the invoices are approved on a weekly basis.
Handle
Handle coding changes and invoice approvals to client and other data driven reports.
Identify
Identify and resolve complex accounting issues with minimal supervision or assistance.
Identify and assist Finance Manager in the implementation of process improvements.
Investigate
Investigate and resolve customer queries.
Lead
Lead client execution and act as main point of contact on accounts.
Liaise with
Liaise with operations team on fund transactions and activities.
Maintain
Maintain accounts payable data for multiple non-profit agencies.
Maintain accurate inventories.
Maintain a full understanding of the Company's retention agreements, processes and procedures.
Maintain an accurate aging report.
Maintain Buyer Assortment book and open PO summary.
Maintain Conference Schedule.
Maintain financial security by following internal controls.
Maintain general ledger by transferring account summaries.
Maintain historical records by filing documents.
Maintain instruction manuals and procedures.
Maintain spreadsheets, accounting and scheduling system export files.
Maintain supporting schedules, as needed, utilizing Excel spreadsheets.
Maintain the accuracy and timeliness of data entered in the Company's General Ledger.
Maintain the accuracy of the ledgers and financial systems.
Maintain various monthly schedules and reports.
Maintain vendor spreadsheet and contact vendors as needed.
Maintain vendor's profiles.
Make
Make recommendations to improve quality of invoicing.
Manage
Manage accounts payable, accounts receivable, and daily credit card reconciliations.
Manage inbound and outbound communications via team mailbox, ticketing system.
Manage secure files related to these donations.
Manage the full cycle of books and records for assigned clients.
Manage the Pending Billing Report to ensure A / P is current.
Monitor
Monitor accounts payable mail box.
Monitor and drive progress on the resolution of accounting issues.
Monitor deposit accounting queues to insure that state timeline guidelines are followed.
Own
Own communication with operations team to resolve issues.
Participate in
Participate in quarterly and annual audits.
Perform
Perform administrative support in order to insure effective and efficient office operations.
Perform all department of accounting filing.
Perform bad debt write off function in the database.
Perform daily Fund Settlements.
Perform financial analysis on determining liability of unprocessed core part claims.
Perform key role in data entry and review of invoices associated with the Account Payable process.
Perform monthly reconciliations to ensure accuracy and closeout.
Perform other client accounting services and comprehension of various accounting software.
Perform reconciliation and true-up of funding vs.
Perform tasks for billing, invoicing, project setup, client setup and vendor setup.
Perform tenant ledger reconciliation to ensure proper cash application.
Perform the invoice cut-off procedures to enable invoicing.
Prepare
Prepare account reconciliations such as gift cards, sales taxes, AR, AP, etc.
Prepare ad hoc analyses and presentations as required.
Prepare all paper cheques for mailing.
Prepare and enter manual billing adjustments.
Prepare and maintain various reports.
Prepare and post journal entries on a daily basis.
Prepare and recommend a monthly distribution to agencies using specific formula per agency.
Prepare and reviews Notice to Reader Financial Statements.
Prepare and track accrual entries.
Prepare and track accruals and accrual entries.
Prepare assigned balance sheet account reconciliations and workpapers for audits.
Prepare cheques, wire payments and on-line payments on a weekly basis.
Prepare daily and monthly monitoring reports on receipts and disbursements.
Prepare daily, monthly, and annual credit card donations reports.
Prepare, deposit and post daily bank transactions, both EFT and cash.
Prepare, deposit, and post daily bank transactions, both EFT and cash.
Prepare duty log report activities.
Prepare financial reports by collecting, analyzing, and summarizing account information and trends.
Prepare internal monthly financial packages and submit for review and approval.
Prepare inventory reports and other statistical data.
Prepare journal entries and account reconciliations as part of monthly close process.
Prepare management fee calculations in compliance with contract terms.
Prepare monthly actual vs budget / forecast variance analyses and commentary.
Prepare payroll journal entry and reconcile all payroll general ledger accounts.
Prepare and post receipts & trust cheques for daily closings.
Prepare remittance forms and other accounting forms.
Prepare supporting schedules and process flows as required.
Prepare timely and accurate journal entries and properly document them on the Team's shared drive.
Prioritize
Prioritize workload efficiently.
Process
Process AP invoices in GP, including coding and data entry.
Process bi-weekly commission payments.
Process Coop for floor sample agreements.
Process credit memos when applicable.
Process month-end and year-end closing of books.
Process payments to vendors and / or payments from customers.
Process payroll and related remittances.
Process, post and apply payments.
Process, post and mail customer invoices and credit memos.
Propose
Propose and enter journal entries to record transactions.
Provide
Provide administrative support and other duties to management, as required.
Provide aid in researching problems and resolving discrepancies as required.
Provide back up to the firm's bank runner.
Provide daily support for internal customers.
Provide finance operations support to multiple business segments.
Provide follow up on requests that cannot be immediately resolved.
Provide information / support & explanations to internal and external auditors.
Provide insightful variance analysis and commentary to drive profitable growth and mitigate risks.
Provide support and updates Tango system to get all information that is in the system is correct.
Provide support during audits.
Read
Read, write, fluently speak, and understand the English language.
Reconcile
Reconcile accounts receivables to ensure that payments are accounted for and properly posted.
Reconcile and analyze general ledger accounts as directed by Controllers.
Reconcile general ledger accounts and prepare journal entries monthly.
Reconcile inventory invoices to verify quantities and costing.
Reconcile bank and credit card accounts.
Reconcile financial discrepancies by collecting and analyzing account information.
Record
Record and analyze federation commitments to Fair Share, Birthright.
Record cash receipts and receivables as appropriate.
Record student billing and credit card deposits in accounting software.
Request
Request vendor statements and reconcile.
Research
Research, tracking, and resolution of discrepancies.
Resolve
Resolve client banking inquiries received from internal staff.
Respond to
Respond to inquiries from staff regarding their budgets.
Respond to vendor inquiries in a timely and professional manner.
Review
Review all vendor invoices for accuracy, approvals and paperwork.
Review and approve sales quotes, convert to sales orders.
Review and maintains company accounts payable and receivable.
Review and resolve vendor statements or inquiries.
Review easement agreements and loan agreement to comply with financial deadlines.
Review expense reports for accuracy and compliance with corporate guidelines.
Review invoice coding and approvals and ensure proper audit trail is in place.
Review leases and leasing activity to ensure accurate billing.
Run
Run budget reports for distribution to budget managers monthly and as requested.
Scan
Scan and / or file invoices.
Scan invoices, file electronically, rename files to proper naming convention.
Set
Set up new customer accounts in Epicor.
Support
Support month-end and year-end close process.
Support the Controller in ad hoc tasks.
Support the Controller with the financial and accounting activities of the company.
Track
Track and create project budgets and reports.
Track open items and report out regularly.
Transfer
Transfer collections files to the collections vendor.
Update
Update and distribute buyers' markdown list / s to merchandising managers.
Update and maintain vendor contact / payee information in Sage50 Accounting.
Update computerized office applications and accounting systems.
Update internal accounting databases and spreadsheets.
Update payment plan information on the spreadsheet maintained for this purpose.
Update Training Calendar for Store and track floor sample PO's.
Validate
Validate and record daily credit card and banking transactions.
Work with
Work closely with clients to resolve queries and provide first level accounting escalation support.
Work closely with the sales team and other key players in accounting.
Work with confidential / sensitive information.
Most In-demand Hard Skills
The following list describes the most required technical skills of an Accounting Associate:
Computer
CPA
Microsoft Office
Real Estate
MS Outlook
Pivot Tables
Accounting Principles
Business
Accounting Software
Accounts Payable
Fixed Assets
Most In-demand Soft Skills
The following list describes the most required soft skills of an Accounting Associate:
Written and oral communication skills
Attention to detail
Organizational capacity
Analytical ability
Multi-task
Problem-solving attitude
Work ethic
Interpersonal skills
Self-starter
Time-management
Take on new challenges and responsibilities
Work successfully under pressure
Effectively prioritize
Interact effectively with business partners
Manage time and workload to meet client needs
