An Accounting Support is a professional who provides support in various accounting and financial tasks within an organization. They work closely with accountants, bookkeepers, and other members of the finance team to ensure accurate and efficient financial operations. In this blog post, we will define the role of an Accounting Support and provide an overview of their primary responsibilities. Furthermore, we will explore the most in-demand hard and soft skills necessary to thrive in this position.

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Main Responsibilities of Accounting Support

The following list describes the typical responsibilities of an Accounting Support:

Aid in

• Aid in cash flow management and forecasting activities.

• Aid in the preparation of budgets and forecasts.

Analyze

• Analyze and validate fuel information from stores.

• Analyze financial data for inconsistencies or anomalies.

Answer

Answer telephone, respond to inquiries, and refer caller to appropriate party.

Assist in

• Assist in all audits at the property.

• Assist in financial planning and analysis activities.

• Assist in internal and external audit processes.

• Assist in managing the general ledger and ensure data accuracy.

• Assist in organizing paperwork.

• Assist in tax return preparation and compliance.

• Assist in the development and implementation of financial controls.

• Assist in the preparation of Medicaid, resource assessments, and state/federal annual reviews.

• Assist students, scientists, staff, and faculty in processing travel-related documents, explaining organizational policies/procedures as required.

• Assist with accounting reconciliations.

• Assist with accounts receivable and application of customer payments.

• Assist with annual budget preparation.

Attach

Attach checks to invoices and forward to Controller for approval.

Calculate

Calculate conversion rates for foreign travel.

Collaborate with

• Collaborate with cross-functional teams on financial projects.

• Collaborate with the finance team to ensure accurate and timely financial reporting.

Collect

Collect supporting documentation.

Communicate

• Communicate effectively with internal and external stakeholders regarding financial matters.

• Communicate sufficiently to answer questions and provide information about assigned work.

• Communicate to the Chemistry Department about updates or changes to accounting, travel, etc. protocols.

• Communicate with customers regarding payments, refunds and statements.

• Communicate with divisions and stores to furnish or obtain information concerning various issues. Requires tact to avoid misunderstanding.

• Communicate with Tax and Accounting offices to complete accounting processes correctly with the most updated protocol.

• Communicate with vendors to obtain invoices and resolve disputes.

Compare

Compare information and recognize discrepancies.

Compile

Compile budgetary estimates and allotments and prepares budget worksheets on receipts and expenditures.

Complete

Complete all training as directed by supervisor.

Conduct

• Conduct periodic internal reviews of financial procedures.

• Conduct research and analysis to support financial decision-making.

Contribute to

Contribute to the preparation and analysis of financial statements.

Coordinate

• Coordinate Accounts Payable process – review invoice coding and approvals, and ensure proper audit trail is in place.

• Coordinate payroll reporting process.

• Coordinate purchases, inventory, and sales of minimart.

Create

• Create and maintain necessary manual and computerized files and filing systems.

• Create and type correspondence and reports.

Ensure

• Ensure accurate balancing of the Servicing System.

• Ensure attorney remittances are formatted appropriately, are accurate and balance to check values.

• Ensure proper controls are in place by auditing cashier balancing reports.

Enter

• Enter expense reports and miscellaneous payments for approval in Workday.

• Enter expense reports and spend authorizations for approval, cross-referencing as necessary.

• Enter financial and other data on computer terminal and balances source data to computer printouts.

Establish

Establish and maintain effective working relationships with residents and their families, co-workers, vendors, departmental officials, and the public.

Exercise

Exercise discretion with sensitive and confidential information.

Follow

• Follow policies and procedures as set forth in Employee Handbook.

• Follow written directions such as code books, chart of accounts, and purchasing manuals.

Gather

Gather financial and statistical data and prepares reports of program activities.

Handle

• Handle accounts payable and accounts receivable tasks efficiently.

• Handle customer service requests by internal and external parties in the appropriate manner with necessary feedback and/or documentation.

Identify

Identify cost-saving opportunities and suggest process improvements.

Input

Input invoices in Workday for services provided to external customers.

Investigate

Investigate and resolve problems associated with processing of invoices and purchase orders.

Maintain

• Maintain accounts receivable, billing and accounts payable records.

• Maintain an inventory of supplies and equipment and orders replacements as needed to insure adequate stock.

• Maintain change in petty cash box (stock with adequate change).

• Maintain complete and accurate paid invoice files by vendor.

• Maintain confidentiality when handling financial information.

• Maintain files and documentation and educate department personnel on policies.

• Maintain financial records and prepare financial reports.

• Maintain records in accordance with the University’s record retention policy.

• Maintain sales information.

• Maintain various Excel worksheets.

• Maintain well-organized and easily accessible financial files and documentation.

Make

Make journal entries appropriate to daily sales.

Monitor

• Monitor account balances, maintains open encumbrances, process journals and budget adjustments.

• Monitor and process expense reimbursements accurately.

• Monitor cash receipts.

Organize

Organize workload to meet required deadlines.

Oversee

• Oversee Accounts Receivable process.

• Oversee multiple bank and resident trust accounts.

• Oversee fiscal requirements of assigned grants and contracts to ensure compliance with Federal, State, and Local requirements.

• Oversee the accounts payable processing in the field.

Participate in

• Participate in daily reconciliations.

• Participate in inventory management tasks.

Pay

Pay miscellaneous invoices.

Perform

• Perform daily balancing and reconciliation of transactions.

• Perform precise data entry and maintain organized financial records.

• Perform tenant ledger reconciliations.

Post

• Post receivable checks to accounts.

• Post receipts and/or disbursements to appropriate ledger(s), journal(s), and or report(s), that insures that accounts balance.

Prepare

• Prepare and distribute monthly financial reports.

• Prepare and verify purchase orders for payment of bills.

• Prepare check returned for insufficient funds for collection and makes necessary adjustments to accounting records.

• Prepare daily deposits and takes to the Treasury Section of the County Clerk's Office or to the bank, as appropriate.

• Prepare deposits and withdrawals based on availability of funds.

• Prepare financial reports, including balance sheets and income statements.

• Prepare, maintain and verify records and reports for mileage, fuel usage, or other data.

• Prepare monthly journal entries, financial statement preparation and bank reconciliations.

• Prepare quarterly reports - quarterly forecast preparation, and provide support to the corporate office in gathering information for the quarterly financial reports.

• Prepare reports at regular intervals reflecting disbursements and/or receipts by category and/or project.

Print

Print checks for payment.

prioritize

prioritize and complete work by established deadlines.

Process

• Process and disburse checks for refunds, invoice payments, proper distribution of receipts or other appropriate purpose.

• Process changes in information system to support accurate and efficient billing process and financial close.

• Process daily bank deposits.

• Process fuel invoices for the fuel sites within the fuel accounting system.

• Process invoices for payment and maintain accurate records.

• Process ISDs in Workday after PI approval.

• Process manual payments as directed by Property Controller, VP/Controller or CFO.

• Process ProCards for the department, coding for accurate budget reporting for all cardholders.

• Process supplier invoices for payment.

• Process transfers of funds among accounts and/or projects.

Provide

• Provide Accounts Receivable support.

• Provide accurate and timely work.

• Provide administrative support to the accounting department.

• Provide copies of Internal Service Deliveries to Principal Investigators (PIs) for review and approval.

• Provide daily payment information and reports to Treasury and other departments as needed.

• Provide exceptional customer service to both internal and external clients.

• Provide reconciliation support for annual budget process.

• Provide support in all mail activities.

Receive

Receive requests for reimbursements.

Reconcile

• Reconcile bank statements and resolve discrepancies promptly.

• Reconcile invoices with receiving documents and/or verify approval of invoices prior to payment.

• Reconcile multiple accounts.

Record

Record financial transactions and update the accounting system.

Respond to

• Responds to inquiries about the department or division, especially related to financial transactions.

• Respond to vendor inquiries and payment requests promptly.

Review

• Review and bill tenant recurring charges and billing adjustments.

• Review attorney remittances before submission to the Payment Processing Team for posting.

• Review contracts, statements of work, and federal, state and county reporting requirements.

• Review invoices for accuracy and correct coding.

Stay updated on

Stay updated on relevant accounting principles and regulations.

Supervise

Supervise cash management procedures – audit petty cash, oversee service center cash procedures and gift certificate procedures.

Support

• Support additional payment processing and accounting requests.

• Support internal and external audit activities.

• Support month-end and year-end closing procedures.

• Support payroll processing and ensure timely and accurate payroll calculations.

• Support third party payment vendors in resolving any discrepancies that affect daily balancing and create outstanding reconciliation items.

Train

Train new employees on assigned responsibilities.

Undertake

Undertake special accounting projects and prepare special reports as assigned.

Verify

• Verify accuracy of invoices entered in the system as to amount, general ledger coding, date, vendor name and address, terms, and proper approval.

• Verify receipts and/or cash register tapes to checks and cash received, identifies errors and makes necessary corrections

Most In-demand Hard Skills

The following list describes the most required technical skills of an Accounting Support:

• Proficiency in accounting software such as QuickBooks, SAP, or Xero.

• Strong knowledge of financial statements, including balance sheets, income statements, and cash flow statements.

• Experience with accounts payable and accounts receivable processes and software.

• Proficiency in Microsoft Excel for data analysis and financial modeling.

• Familiarity with payroll processing systems and software.

• Understanding of tax laws and regulations to ensure compliance.

• Knowledge of budgeting and forecasting principles and software.

• Ability to perform financial analysis and interpret financial data.

• Experience with financial reporting and generating accurate financial statements.

• Familiarity with inventory management systems and procedures.

• Proficiency in data entry and maintaining data accuracy.

• Knowledge of cost accounting principles and techniques.

• Ability to reconcile financial records and resolve discrepancies.

• Experience with financial audit preparation and collaboration with auditors.

• Proficiency in using financial management software and tools.

• Understanding of financial controls and compliance procedures.

• Knowledge of international accounting standards.

• Ability to work with automated accounting systems.

• Strong analytical and problem-solving skills.

• Attention to detail and accuracy in financial record-keeping.

Most In-demand Soft Skills

The following list describes the most required soft skills of an Accounting Support:

• Excellent attention to detail and organizational skills.

• Strong communication and interpersonal skills to effectively collaborate with team members and stakeholders.

• Ability to work effectively in a team environment, fostering cooperation and synergy.

• Time management and prioritization skills to meet deadlines and manage multiple tasks simultaneously.

• Adaptability and flexibility to navigate changing priorities and work in a dynamic environment.

• Analytical thinking and problem-solving abilities to identify and resolve financial issues.

• Ethical conduct and integrity when handling sensitive financial information.

• Strong numerical aptitude and mathematical skills for accurate calculations.

• Professionalism and a strong work ethic to maintain a high level of productivity and accountability.

• Customer service orientation to provide prompt and courteous assistance to internal and external clients.

Conclusion

Accounting Supports play a crucial role in supporting financial operations by performing a wide range of responsibilities. Their proficiency in technical skills such as accounting software, financial analysis, and reporting is complemented by essential soft skills like communication, teamwork, and time management. By possessing a combination of hard and soft skills, Accounting Supports can contribute to the success of an organization and excel in their roles.