Main Responsibilities and Required Skills for an Accounting Administrator
An Accounting Administrator plays a critical role in managing financial records, maintaining accurate bookkeeping, and supporting various accounting functions within an organization. They ensure the smooth operation of financial processes, compliance with regulations, and effective communication with stakeholders. In this blog post, we will explore the primary responsibilities and the most in-demand hard and soft skills for Accounting Administrators.
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Main Responsibilities of Accounting Administrator
The following list describes the typical responsibilities of an Accounting Administrator:
Administer
Administer inventory receiving and deliveries.
Analyze
Analyze and recommend improvements to recording and control of inventory.
Analyze transactions to ensure compliance with financial policies and procedures.
Answer
Answer inquiries by telephone and in person.
Assess
Assess current practices and procedures and make recommendations for improvements.
Assist in
Assist CEO / Controller / President with special projects.
Assist in other accounting functions as required.
Assist in the completion of periodic VAT, GST and VIES filings.
Assist in the month-end close process.
Assist in the new system post go-live by converting legacy reports and configuring recoveries.
Assist in wire transfer processing.
Assist in year-end Audit process & data collection projects as assigned.
Assist with general accounting tasks and other ad hoc projects.
Assist with minor HR tasks such as benefits enrolment, and other duties as assigned.
Assist with month end accounting entries, reconciliations, and financial statement preparation.
Assist with other office administrative duties like filing.
Assist with quarterly, annual financial reports and MD&A preparation.
Attach
Attach any credit card receipts and / or additional backup from divisions to Settlement report.
Balance
Balance Daily Parts & Service Cash and do Daily Bank Deposits.
Calculate
Calculate, reconcile and record month end tank dip inventory adjustments.
Carry out
Carry out additional related duties and help with special projects on an as-needed basis.
Code
Code documents using the proper classification of expenditure codes and accounting codes.
Code costs & rates on Delivery Slips.
Collect
Collect client payments as required, ensures the security of payments.
Complete
Complete reports and documents as required by CRA, Service Canada, and other agencies.
Complete routine accounting activities including accounts payable and receivable processing.
Complete special projects and other assignments as delegated by management.
Conduct
Conduct clerical duties, including filing, answers phone calls, responds to emails.
Consolidate
Consolidate Special Purpose Ledger numbers.
Consult
Consult user guides, technical manuals and other documents to research and implement solutions.
Contribute to
Contribute to a positive work environment / culture.
Coordinate
Coordinate government grant audits and provide reconciliations.
Create
Create and manage company budget.
Create dockets and file accordingly.
Create / Maintain services within AutoTask.
Develop
Develop strong working relationships with other operational team members.
Distinguish
Distinguish between stock / sold / fleet, and stock them into VMS.
Distribute
Distribute incoming mail / Faxes.
Embed
Embed and deliver additional financial reporting activities as migrated.
Ensure
Ensure proper backup is attached to all invoices before processing is initiated.
Ensure transactions contain accurate coding (divisions must be listed separately).
Enter
Enter and reconciling bank transactions made for vendor payments.
Enter AP within required timeframe (weekly and for month end).
Enter bank transactions made for vendor payments.
Enter data into computer systems using defined computer programs (ERP, Payroll).
File
File provincial annual returns.
Follow-up
Follow-up on any discrepancies internally and / or with suppliers, as required.
Follow-up with customers to resolve delinquent accounts and billing issues.
Forward
Forward cheques to Vice President for signature, and distributes / mails signed cheques.
Gather
Gather all documentation required and prepares customer invoices for all divisions.
Gather, sort and match supplier invoice to PO's, quotes, and other back up.
Gather time sensitive documents to prepare A / P cheque run packages for processing.
Generate
Generate payroll reports as required.
Identify
Identify and address discrepancies.
Index
Index Supply and Freight invoices in Global Search Data Management System.
Input
Input all labour, material, rental and subcontractor tracking for quoted and chargeable jobs.
Input payment documents into Quickbooks ensuring accuracy and appropriate use of coding.
Install
Install and train users on software.
Investigate
Investigate and resolve discrepancies.
Investigate questionable data and recommend actions to resolve discrepancies.
Liaise with
Liaise with employees on accounting policies.
Liaise with audit firm for annual audit / review.
Look
Look after Accounts Payable including data entry of all supplier invoices.
Maintain
Maintain 5S in all responsible areas.
Maintain an accurate customer data base.
Maintain an accurate vendor data base.
Maintain and assists accounts payable and receivable modules in accounting databases.
Maintain a positive work atmosphere by acting and communicating in a manner.
Maintain Company Insurance Policies.
Maintain current signatories.
Maintain Customer Master log and Customer Master folders.
Maintain detail tooling cost information with copies of invoices by project.
Maintain documented system of accounting policy and procedures.
Maintain financial records and prepare monthly financial statements.
Maintain general accounting e-mail, where invoices all come into.
Maintain open purchase order (PO) file for inventory items.
Maintain proper filing of processed documents.
Maintain the AP filing system.
Maintain the appropriate filing of accounting records and monthly reconciliations.
Maintain the overall organization and cleanliness of the office.
Make
Make bank deposits into the designated property account.
Manage
Manage accounts payable and receivable.
Manage Accounts Receivable and Accounts Payable.
Manage boardroom calendars.
Manage obligations to suppliers, customers and third-party vendors.
Manage reception, including welcoming visitors (automated visitor check-in).
Manage the maintenance and general organization of the office, including boardrooms and kitchen.
Match
Match invoices with packing slips / purchase orders.
Match signed packing slips with purchase orders and enter receipt into accounting system.
Monitor
Monitor AR status in the Tracker report.
Monitor customer account details for non-payments, delayed payments, and other irregularities.
Notify
Notify Collector of declined charges or waiver requested.
Order
Order and maintain office equipment and supplies.
Order entry and processing.
Oversee
Oversee monthly invoice process.
Oversee travel bookings and ensure adherence to the travel and expense policy.
Perform
Perform ad hoc analysis and projects as requested.
Perform adhoc assignments when required.
Perform backup functions as required and participate in cross-training initiatives.
Perform gift card reconciliation (AR, payments and deactivations).
Perform month-end duties for given companies.
Perform other ad hoc duties as needed.
Perform other duties as required.
Perform other related duties and participate in special projects as assigned.
Post
Post customer cash receipts and investigate discrepancies.
Post customer payments by recording cash, checks, and credit card transactions.
Post revenues by verifying and entering transactions form lock box and local.
Post transactions into iSeries accordingly.
Post Wholesale deals, and related reconciliations to balance payments.
Prepare
Prepare accounting reconciliations.
Prepare Accounts Receivable invoices as directed.
Prepare and maintain monthly budget.
Prepare and submit bi-weekly payroll.
Prepare and submit quarterly GST returns.
Prepare financial reports and present findings and recommendations to management.
Prepare Fixed Asset and AUC schedules and reconciliations.
Prepare journal entries and other reports - bad debt reserve, Assurant transactions, AR aging, etc..
Prepare monthly bank reconciliations and credit card statement reconciliations.
Prepare monthly profit and loss statement for managerial review.
Prepare reports and reconciliations for auditing purposes and other special reports as required.
Prepare semi-monthly payroll in collaboration with the Director of Finance.
Prepare staff expense claims and track mileage.
Print out Bills of Lading (BOL) as they arrive.
Print reports listing total daily receipts.
Process
Process accounts payable for company expenses including payments to Broker clients.
Process accounts payable & receivable entries for non-account transactions.
Process approved Adjustments in iSeries by close of fiscal month.
Process AR invoicing within the required deadlines (weekly and for month end).
Process a variety of deposit, capital, and utility invoices.
Process benefit enrollments, changes, and terminations.
Process credit card transactions in PayPal emailed directly to Payments.
Process employee timesheet & delivery slips.
Process fleet deals (including rentals) , and code cheque / EFT for deposit.
Process invoices and issue payments to Dedicated Freight Carriers (Canada Cartage, United).
Process invoices and payments and assists with client enquires as required.
Process invoices for payment including verifying accounts and prepare cheques.
Process Journal entries and assists in year-end reconciliation.
Process pre-payments and ensure timely transfer of prepayments upon receiving of Supplies.
Process semi-monthly payroll.
Process, verify and balance various accounting records in a timely and accurate manner.
Process yearend adjustments, taxable benefits and tax documents.
Protect
Protect organization's value by keeping information confidential.
Provide
Provide assistance to others in department to accommodate workload.
Provide backup to Customer Master as needed.
Provide back up to other staff in areas as needed.
Provide export and Scrap check copies at fiscal month-end to Asset Management.
Provide input on policies and operational requirements to the Director of Finance.
Provide order entry and logistics assistance for the outside sales associates.
Provide reception relief to the office.
Provide solutions to control issues.
Provide Switchboard relief for receptionist for breaks, holidays.
Provide Tax Accountant copies of tax Adjustments.
Provide time information for payroll.
Purchase
Purchase Order / Sales Order tracking and follow up.
Receive
Receive and sort timesheets from vendors.
Receive incoming dealer trade requests, prepare cheque, and stock in VMS and Accounting.
Reconcile
Reconcile and code company credit card transactions.
Reconcile bank transactions daily.
Reconcile benefit premiums for payment to carriers.
Reconcile inventory counts and record in accounting system.
Reconcile monthly inventory.
Reconcile payables issues (internal and with suppliers).
Reconcile bank accounts monthly.
Reconcile customer accounts and collects delinquent accounts.
Reconcile records with internal company employees and management, or external vendors or customers.
Reconcile statements from supplier and audit confirmations.
Reconcile various accounting schedules.
Reconcile vendor statements.
Reconcile vendor statements and resolve any discrepancies.
Record
Record Inventory adjustments (Spills, DNS etc.).
Reproduce
Reproduce, diagnose and resolve technical problems encountered by users.
Research
Research and resolve payment and expense discrepancies.
Resolve
Resolve payroll discrepancies by collecting and analyzing information.
Respond to
Respond to employee and government payroll inquiries.
Respond to emails received from divisions and customers in a timely manner.
Review
Review and update account information based on daily control reporting as require.
Review and verifies packing slips, weigh slips and ticket backup for invoices.
Review, codes, costs and processes Sub-Contractor invoices daily.
Review daily remittances to investors and submit wire payments for approval.
Review, enter and record production formulas (BOM) into accounting system.
Review formulas (BOM) from subsidiary for accuracy, and record in accounting system.
Review for proper approvals, code and enter vendor invoices.
Review supplier invoices periodically to ensure that all invoices are processed by due dates.
Review vendor statements and reconcile differences in Quickbooks.
Scan
Scan separate copies of checks for Rentals, Scrap and Tax refunds.
Seize
Seize opportunities to produce results without direct supervision.
Send
Send out monthly invoices for Deferred Purchase Price to investors and process journal entries.
Sort
Sort mail received from Lockbox and forward to appropriate division.
Store
Store inquiries - Responds to store inquiries regarding A / R in timely manner.
Submit
Submit various external reporting and statistics to government bodies.
Supervise
Supervise semiannual and annual inventory counts.
Support
Support accounting team where needed.
Support inbound calls and orders.
Take
Take the lead on administrative and office projects as assigned and recommend improvement projects.
Track
Track outstanding employee and Sub-Contractor time.
Trouble
Trouble shoot IT issues, and escalate major issues to external IT consultant.
Understand
Understand the aspirations of seniors and respond with innovative supports.
Update
Update receivables by totaling unpaid invoices.
Upload
Upload, enter, and process invoices into our accounting system.
Utilize
Utilize a number of sources to create statements and reports.
Verify
Verify Customer doesn't already exist by double-checking iSeries for same address and phone number.
Verify the correctness of the invoices and enter into accounting system.
Verify vendor statements monthly and make payments to vendors monthly.
Work with
Work closely with internal stakeholders.
Work in compliance with Stackpole FPS Quality, Safety & Environmental Systems.
Work on special projects occasionally.
Work with Finance Assistant.
Work with global Parent Company when requested.
Work with internal vendors for various requirements.
Work with operations staff to resolve any invoice queries.
Work with other Departments to understand any new offerings and how to set up in Autotask.
Work with the global team of finance when required.
Most In-demand Hard Skills
The following list describes the most required technical skills of an Accounting Administrator:
Proficiency in using accounting software (e.g., QuickBooks, SAP, Xero).
Strong knowledge of accounting principles and practices.
Experience with financial reporting and analysis.
Ability to prepare and interpret financial statements.
Proficient in Microsoft Excel for data analysis and financial modeling.
Familiarity with payroll processing and relevant software.
Knowledge of taxation regulations and compliance requirements.
Understanding of budgeting and forecasting processes.
Competence in using accounting databases and record-keeping systems.
Experience with accounts payable and accounts receivable procedures.
Knowledge of financial auditing principles and procedures.
Familiarity with cost accounting methods and cost control techniques.
Understanding of financial risk management concepts.
Ability to conduct financial reconciliations and resolve discrepancies.
Knowledge of relevant accounting standards (e.g., GAAP, IFRS).
Proficiency in using financial management software and tools.
Ability to analyze financial data and generate meaningful insights.
Experience with financial planning and budgeting software.
Understanding of inventory management and valuation.
Familiarity with cash flow management and forecasting techniques.
Most In-demand Soft Skills
The following list describes the most required soft skills of an Accounting Administrator:
Attention to Detail: Accurate financial record-keeping and attention to detail are vital to ensure data integrity and minimize errors.
Time Management: The ability to prioritize tasks, meet deadlines, and manage multiple responsibilities is crucial in a fast-paced accounting environment.
Analytical Thinking: Strong analytical skills help in interpreting financial data, identifying trends, and making informed decisions.
Problem Solving: Accounting Administrators must be adept at identifying and resolving issues related to financial records, transactions, and processes.
Communication Skills: Effective communication, both written and verbal, is essential for interacting with colleagues, clients, and stakeholders.
Teamwork and Collaboration: Collaborating with colleagues from different departments and working as part of a team fosters a harmonious work environment and enhances overall productivity.
Ethics and Integrity: Handling financial information requires a high level of integrity, confidentiality, and ethical behavior.
Adaptability: Being open to change, learning new technologies, and adapting to evolving accounting practices and regulations are key traits for success.
Organizational Skills: The ability to organize financial records, documents, and tasks contributes to efficiency and effective workflow management.
Customer Service: Accounting Administrators often interact with internal and external clients, so providing excellent customer service and addressing inquiries professionally is essential.
Conclusion
Accounting Administrators play a vital role in maintaining accurate financial records, supporting accounting processes, and ensuring compliance with regulations. Their responsibilities encompass various aspects of financial management, from record-keeping and reporting to analysis and communication. In this blog post, we explored the primary responsibilities of Accounting Administrators, highlighting their involvement in financial transactions, reporting, and compliance. We also discussed the most in-demand hard skills, emphasizing proficiency in accounting software, financial analysis, and knowledge of regulations. Additionally, we identified essential soft skills such as attention to detail, communication, and problem-solving abilities that contribute to success in this role. By possessing a combination of these hard and soft skills, Accounting Administrators can effectively manage financial data, contribute to informed decision-making, and support the financial stability and growth of their organizations.
