What does an accounts assistant do?
An accounts assistant is a key figure within the finance department of a company, involved in a myriad of operations that ensure the business’s fiscal health. Their duties range from managing petty cash to processing invoices and preparing financial reports. By learning more about the role of an accounts assistant, you can decide whether this career path aligns with your interests and skill set.In this article, we discuss the role of an accounts assistant, what skills they need, their typical salaries and how to find a job in this field.
What does an accounts assistant do?
As an accounts assistant, you will find yourself at the heart of a finance team, supporting the team with its daily operations and ensuring accurate record-keeping. Your role would involve diverse responsibilities that organise and maintain financial transparency. Below is a list of common responsibilities for an accounts assistant.
Processing invoices
Managing and inputting invoices is one of your main responsibilities as an accounts assistant. Ensuring these are correctly recorded is vital for maintaining accurate financial records.
Petty cash management
Managing petty cash entails recording minor company expenses. As an accounts assistant, you’ll need to record these transactions correctly and receipts are kept systematically for audit.
Payroll assistance
Administration of the payroll might also fall under your umbrella of responsibilities, where accuracy and confidentiality are key.
Preparing financial reports
Your responsibility could also extend towards collating and preparing periodic financial reports that could inform company decisions.Related: Accounting assistant skills: definition and examples
Where does an accounts assistant work?
An accounts assistant has the flexibility to work in a variety of settings, including:
- accounting firms
- corporate organisations
- small and medium-sized businesses
- government agencies
- non-profit organisations
As an accounts assistant, your role can vary significantly depending on the scale and nature of your organisation. The broad skill set you develop can offer you a variety of positions in finance and accounting.Read more: What is an accounting assistant? (With skills and duties)
Is it hard to become an accounts assistant?
Becoming an accounts assistant is a process that involves education and a level of relevant experience, but it’s attainable with the right study and dedication. A minimum of a high school diploma or equivalent is a standard requirement, although many employers prefer candidates with a bachelor’s degree in accounting, business administration or similar fields. Experience within a finance role could be beneficial, but many organisations are happy to offer on-the-job training for recruits with limited experience. A good understanding of popular software applications like Microsoft Excel and various accounting software can also be useful.Please note that none of the companies, institutions or organisations mentioned in this article are affiliated with Indeed.
Skills for an accounts assistant
As an accounts assistant, there is a certain skill set you will need to possess to perform your duties effectively. In this role, hard and soft skills matter, as you need a blend of technical know-how and interpersonal skills to succeed there. Below is a list of essential skills for an accounts assistant:
Strong numeric skills
Since the role necessitates daily dealing with numbers and financial data, having strong numeric skills enables you to interpret and accurately input this data quickly.
Attention to detail
Attention to detail is essential to prevent errors in data entry or financial reporting. Little inaccuracies can lead to substantial discrepancies over time.
Excellent organisational skills
Between managing petty cash, processing invoices and preparing financial reports, being organised is key to juggling your responsibilities effectively.
Communication skills
As you will be liaising with different departments within the company, strong communication skills will ensure smooth inter-departmental transactions and clear financial reports.Remember that these skills can be developed over time, and with the right dedication and practice, you can excel as an accounts assistant.
Average salary and job outlook for an accounts assistant
In the UK, the average salary of an accounts assistant ranges between £18,000 and £25,000 a year. Experience, the size of the organisation and the location can significantly impact these figures. For example, roles in London and other major cities tend to offer higher salaries commensurate with the cost of living. Similarly, larger companies with more complex financial structures may pay more due to increased responsibilities and demands.According to the National Careers Service, employment of accounting and auditing clerks, which includes accounts assistants, is projected to see little or no change. While job prospects are generally stable, those with recognised certifications such as AAT (Association of Accounting Technicians) may have better job prospects.Salary figures reflect data listed on Indeed Salaries at the time of writing. Salaries may vary depending on the hiring organisation and the candidate’s experience, academic background and location.
Jobs that are similar to an accounts assistant
If you’re interested in finance but unsure if the accounts assistant role suits you, there is a list of similar jobs to an accounts assistant below.
1. Accounting clerk
National average salary: £38,145
Primary duties: Accounting clerks are responsible for supporting accounting supervisors and other managers within the department by maintaining accounting document files, including daily work and accounts payable.Find accounting clerk jobs
2. Bookkeeper
National average salary: £25,852
Primary duties: Bookkeepers record financial transactions, update statements and check financial records for accuracy. It’s essential in ensuring a company’s financial data is up-to-date and valid.Find bookkeeper jobs
3. Payroll clerk
National average salary: £24,548
Primary duties: A payroll clerk primarily ensures employees are paid correctly and on time. This role involves data entry, reconciliation of timecards, paycheck distribution and providing statements to various departments.Find payroll clerk jobs
4. Financial analyst
National average salary: £38,631
Primary duties: A financial analyst examines financial data and uses their findings to help companies make business decisions. This could involve forecasting future financial performance, analysing business trends and aiding senior management in strategic planning.
