Account Officer Job Description, Skills, and Salary
Are you searching for an account officer job description? Get to know about the duties, responsibilities, qualifications, and skills requirements of an account officer. Feel free to use our account officer job description template to produce your own account officer job description. We also provide you with information about the salary you can earn as an account officer.
Who is an Account Officer?
The account simply means a registry of all written or printed transactions or of all other minor aspects which require review. An Account Officer is an individual who manages the daily financial transaction and bookkeeping of a business or organization. An account officer’s daily responsibilities are processing invoices, recording payments, and tracking expenses of the organization…
Account officers must be very much focused to cross-check the corresponding invoice, to ensure that the billing is accurate or verified. Communication is what an account officer cannot do without. Most companies hire account officers to help them oversee their bookkeeping. Companies today employ account officers supervised by the chief accounting officer. Good account officers must know how to balance financial literacy and management skills. An in-depth understanding of mathematics is very essential to perform the duties of the position. An account officer may also perform a managerial function by supervising another team of account clerks and other bookkeeping professionals.
Why an Account Officer is different from an Accountant?
An Account Officer and Accountant perform the same responsibility or duties but this solely depends on the organization they work for. For instance, both Accountants and Account Officers oversee the teams of financial professionals and make sure their company’s bookkeeping records are authenticated.
The discrepancy is that their qualification and training are not the same. Accountants are required to earn a bachelor’s degree in financial accounting or a related field before they can practice. They also need to acquire licensure and write exams to become a Certified Public Accountant.
Account Officers on the other hand are not required to earn a four-year degree before they practice; their minimum qualification is a high school diploma. Many account officers need soft skills paramount for the position; they can start their careers as account clerks before being promoted to Account Officers.
Account Officer Job Description
What is an account officer job description? An account officer job description is simply a list of duties and responsibilities of an account officer in an organization. Below are the account officer job description examples you can use to develop your resume or write an account officer job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.
- Manages accounts payable and receivable
- Spearhead all financial reports on a day-to-day basis
- Administer all accounts and various departments, perform audits on tax and prepare reports
- Coordinate with internal and external auditors to supervise the work of all accountants
- Evaluate management performance and oversee the effectiveness of their work
- Coordinate with the chief financial officer and evaluate fiscal policies and recommend an improvement for programs
- Develop and establish all accounting policies for banks
- Work closely with the accounting and finance department to prepare financial statements every month
- Prepare various financial reports and submit them to regulatory agencies
- Coordinate with internal and external legal advisors and senior bank personnel
- Oversees all communications with investors and also earning releases
- Manages all accounting functions for acquisition and integration of processes
- Oversee all functions of corporate controller and subsidiaries
- Works together with investor relations of an organization and participates in various meetings for all potential investors
- Resolves accounts to the general ledger
- Communicates with clients about transactions and invoices
- Handles queries that deal with accounts
- Cross-check invoices frequently
The qualification of an account officer is that first of all to obtain a high school diploma and then you can proceed to gain a bachelor’s degree which will increase your chances of securing a job. One of the aspects of the job position of an accountant most employers consider is the skills and expertise the account officer possesses. These skills can only be honed if you enroll in job training that will expose you to these skills. The following are the skills an account officer needs to qualify mathematics skills, written and verbal communication skills, ability to handle multiple projects, technological skills, and computer skills. One of the core skills an account officer needs is computer skills because to become an account officer, you have to know how to utilize spreadsheets such as Microsoft Word, Microsoft Excel, and other application spreadsheets that are relevant to the profession. You can enroll in computer training to master all these spreadsheets. An account officer also needs to keep up with the emerging trend in the industry; this industry is highly diverse and there are chances of more increase in employment opportunities. An account officer should meet up with the ongoing trend in order not to be old-fashioned.
There are essential skills and competencies account officers must have to perform their responsibility efficiently and they are:
- Organization Skills: Account officers must be highly organized to keep records of financial statements, meet clients’ deadlines and follow proper reporting guidelines. Each accounting responsibility has a significant amount of documentation and accountants who are disorganized may find it very difficult to keep track of important paperwork.
The best way to meet up with deadlines is to become organized but account officers need to enhance or develop their organizational skills before venturing into the profession.
- Communication: Account officers assess all financial records of the company; it is their core responsibility to interpret their findings for coworkers and clients who may have a shallow comprehension of financial ideas. Account officers use their communication skills to simplify vast amounts of data for easy comprehension and this makes the presentation more accessible.
- Analyzing: The job of an account officer requires a meticulous and detail-oriented person. Account officers must always cross-check financial records to ensure that the details are accurate and current. Failure to analyze a financial report properly may lead to an inconsistent result which can put their career in jeopardy.
- Critical Thinking: Account officers regularly encounter errors, inaccuracies, and discrepancies in the course of their work. If not discovered and resolved, these errors can cause colossal damage to employers and clients. To solve all these complex problems, account officers must approach a circumstance critically by considering all variables and the risk involved.
- Familiarity with how the Industry Works: Account officers must have a broad knowledge of the accounting industry; the knowledge they must acquire is about the financial transactions and how they work. They need to have technical expertise in specific areas of accounting to comprehend different topics such as Leger Skills which helps them to comprehend credits and debits, while knowledge of standard reconciliation skills helps accountants to differentiate between ledgers and trial balance.
- The Ability to Use Spreadsheets: Account officers of today depend on several software programs to complete different tasks. They need to be familiar with the following application; Microsoft Excel, Quick Books, and other spreadsheet platforms. The accounting profession is unique and no matter the field of accounting you want to pursue; the knowledge of how to utilize a spreadsheet is very paramount. This skill is very important because it will distinguish you from other potential job candidates. An individual aspiring to become an account officer can take a course on Microsoft Excel and other spreadsheet applications that are essential to the accounting field.
- Adapting: the accounting profession is always growing with emerging trends in technology, and some changes usually take place as a result of the nature of the profession. Accountants should always is patient to adapt to changing standards and new trends in their profession. The changes could also be a result of technological advancement, workplace dynamics, and new platforms for client interaction. New clients will always come on board with different demands and so there is a necessity to change the rules. A good account officer should accept and execute new changes in the profession
- Time-Management: Most account officers are given so many projects to work on at once. They must be able to multi-task and effectively manage their time in order not to disappoint clients. Management of time is very paramount to the success of an account officer’s career. They should be able to handle a variety of projects and do their best to manage the deadline. Many account officers are usually bombarded with a lot of responsibility which leads to unprepared deadlines.
How to Become an Account Officer
- Earn an Education
To become an account officer; you need to obtain a high school certificate. During your high school studies focus on subjects such as mathematics and financial accounting. A degree certification will open more doors of job placement for you in this profession. Some employers have a preference for candidates who have acquired a degree in accounting, finance, business management, or a related field. Other employers can hire candidates with little experience such as a candidate that just graduated from high school and can start working as an accounting clerk before being promoted to the role of an Account officer.
You can also enroll in a community college and acquire knowledge about basic accounting and bookkeeping. The course topics you will learn are; analysis and reporting of financial data, bookkeeping procedures, tax preparation, computer concepts, and payroll accounting.
You need to have at least two years’ experience before you take the exams. The exam is divided into four segments and it covers payroll, inventory adjusting bookkeeping entries, and fraud prevention.
Certification is also very essential because most companies love to employ those candidates who are certified in relevant certifications such as Certified Public Accountant or Certified Bookkeeper designation. There are accounting bodies that offer certification in bookkeeping. Certification will distinguish you from other potential candidates
- Gain Professional Experience
As an account officer; you need to gain relevant job experience because no employer wants to hire a novice. Although most employers love to hire a candidate that has accounting and bookkeeping experience that is not always the case. Most organizations have diverse strategies for handling bookkeeping systems, invoice methods, and accounting practices and so being trained in a particular way of handling all these practices will help you adjust to an organization.
Look for an accounting firm or financial institution and volunteer to be an account officer to harness essential skills that you will need in the job market. Organizations usually sought for candidates with relevant experience. Many job candidates can also harness these skills in similar job positions such as a Financial Analyst, Accountant, or Credit Officer.
- Earn a Promotion
Most account officers do not start their careers as account officers especially those that are employed with high school diploma certificates. Most people launch their careers as accounting clerks before being promoted to the role of account. If you are such a person, you need to be very committed to your job so that you can be promoted to the role of an account officer. You can establish a relationship with the account officer so that you can understand the field of accountancy better.
- Create your Resume
Account officers should have certain skills showcased in their resume; the skills should be both hard and soft skills to perform their jobs. When assessing a prospective account officer’s resume, employers ensure they have the appropriate education and training skills to perform the job.
Look out for job placement available in your locality; you can also look out for open positions online.
Where to Work as an Account Officer?
Account officers can work in different places managing the bookkeeping and financial transaction of the organization. They can work in the following places:
- Companies or Firms: Account officers can be employed in companies or firms handling financial transactions. Most organizations or establishments; have a department known as the Account department and account officers can work there under the supervision of the chief accountant. They work alongside the Principal Accountant, auditors, accounting clerk, and accounting executive. Smaller companies or firms may not have an accounting department but an accounting officer can also work there independently help them to manage their financial transaction.
- Schools or Academic Institutions: Account officers can work in a school vicinity and manage all the financial transactions of that institution. They can be in the school account department office if the school has one.
- Government Organizations
- Non-Governmental Organization
Account Officer Salary
- In the United States, the earning or salary of an account officer is $57968. Although this solely depends on the experience of the account officer.
- In Nigeria, the salary of an account officer is 325,500NGN per year. The salary may be slightly different based on the experience and qualifications of the account officers. Account officers who are degree holders will earn more than account officers who just have a high school diploma.