Accounting Coordinator Job Description, Skills, and Salary
Get to know about the duties, responsibilities, qualifications, and skills requirements of an accounting coordinator. Feel free to use our Accounting Coordinator job description template to produce your own. We also provide you with information about the salary you can earn as an accounting coordinator.
Who Is an Accounting Coordinator?
An Accounting Coordinator is an individual who ensures that the activities of the accounting department are running smoothly and sees to the communications between the different units of the accounting department and other external bodies. They maintain records, prepare financial reports and paperwork, and make sure that all work is completed promptly and by company, state, and federal financial regulations. They are professionals that manage clients’ accounts with them.
They’re responsible for reviewing correspondence, maintaining budgets, entering complaints or requests from their clients, and liaising between internal brigades. Accounting Coordinators are liable for managing a firm’s financial activities and tracking both accounts receivable and payable. Under the direction of a supervisor like an accounting manager or chief financial officer, the accounting coordinator sees most of the accounting business of an organization and its clients, lenders, and suppliers. He or she might liaise with suppliers and lenders regarding accounts payables, clients regarding accounts receivables, and staff regarding payroll. The account coordinator does not singularly make decisions concerning the timeframe for collecting and making payments for the organization, as this is typically the responsibility of the accounting manager and executives. An accounting coordinator is often entrusted with the responsibilities of bookkeeping and is required to keep track of all receivables and payables. Upon receiving or sending an invoice, the coordinator will input the knowledge of all hard drives into any computer database the organization employs for bookkeeping. He or she could also be responsible for reminding the accounting manager when a payable is overdue or following abreast of a receivable.
Accounting coordinators are also in charge of making sure a payment or receivable is valid., which may include confirming with other members of the organization that an incoming invoice is for legitimate services or products delivered before deeming it payable. Although an accounting coordinator is responsible for an organization’s financial projections and practices, he or she could also be privy to vital information concerning the financial state of the organization. During audits or tax season, the accounting coordinator ensures that all pertinent papers, such as copies of receipts, and other crucial data are filed with the appropriate authorities. The accounting coordinator is credible for the bulk of the accounting communications between an organization and its clients under the direction of a manager such as an accounting manager or chief treasurer. The accounting manager and executives usually make the decisions about the timetable for collecting and making an organization’s payments, so someone in this position does not make those decisions. Accounting coordinators are usually in charge of bookkeeping and must keep track of all receivables and payables. Upon receiving or sending an invoice, the coordinator will input the knowledge into whichever electronic database the organization uses for accounting and file all hard copies.
The accounting coordinator also has to call the attention of the accounting manager when a payable is overdue or following an overdue account receivable. The accounting coordinator is liable for the financial projections and practices of an organization but the incumbent could be privy to confidential information regarding the organization’s financial state. The accounting coordinator is in charge of acquiring all relevant information during tax season or audits, including copies of receipts, to be filed with the appropriate authorities and also other necessary materials required by the firm. The working place for an accounting coordinator is usually an office space, maintaining regular work hours. There could also be some travel required for training or conferences, but it’s not typically a requirement of the job. The accounting coordinator collaborates with the team of accountants and is responsible for keeping the team organized and on track. This position requires a high level of attention to detail and accuracy, also as the ability to work well under pressure. This job comes with a significant amount of stress because deadlines and quotas must be reached. Accounting coordinator responsibilities necessitate a massive amount of attention to detail. Their duty also includes managing the everyday activities of the organization’s accounting department, which suggests they must ensure all financial transactions are properly recorded and processed promptly. Accounting coordinators may also be in charge of overseeing other aspects of their company’s accounting operations, such as ensuring that employees have access to the tools and software they require to do their duties effectively.
Accounting Coordinator Job Description
Below are the Accounting Coordinator job description examples you can use to develop your resume or write an accounting coordinator job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.
The duties and responsibilities of an accounting coordinator include the following:
- Aiding in tax preparation procedures, such as obtaining records from vendors, banks, or other corporations to aid in the preparation of tax returns.
- Developing financial statements such as balance sheets, income statements, and other records to track a company’s success through time.
- Recording accounting transactions in an organization’s ledger.
- Strengthening the accounting of an organization by revamping existing reports and readying new ones as needed to guarantee
- Processing expense reports of employees, taking note of the payments made to vendors and balancing accounts payable with bank statements.
- Coordinating the preparation of payroll by working with Human Resources to gather information about employee salaries, deductions, benefits, and other details.
- Creating annual reports that summarize the organization’s financial activities.
- Processing journal entries to record transactions that directly affect an organization’s financial statements.
- Involving in general office obligations and answerable to assignments from the Director of Accounting.
- Overseeing, distributing, and assessing the work of other staff, and partaking in theirs.
- Participating in tinning and development of work methods relating to the processing of accounting documents.
- To deliver or acquire information, communicating with internal and external components.
- Reproducing data for security reasons, developing credit notes, obtaining notices, making modifications, authorizing non-standard invoicing, and canceling and replacing checks are just a few of the unique procedures that are performed.
- Preparing and balancing sales records.
- Maintaining a file system relating to your area of activity, which incorporates staff files relating to hours of work, absenteeism, and vacation.
- Reading emails from implicit clients who have questions about commodities and making sure complaints get resolved rapidly.
- Producing and applying strategies to induce leads, perform product demonstrations or calls, and support Account Directors.
- Fulfilling Secretary responsibilities or overseeing staff members who are in charge of this task.
- Collecting and organizing account information for duty purposes.
- Communicating with outside parties; this includes: encouraging a budget to fiscal backers or showing records of deposits to a bank.
- Evaluating all the check requests and invoices given.
- Education: Entry-level accounting coordinators are typically required to possess a minimum of a high school diploma or GED. Attaining a Bachelor’s Degree in accounting or a similar course is an added advantage as some employers may prefer candidates with one over their counterparts that have
- Training & Experience: When starting a new position, accounting coordinators often receive on-the-job training in the form of an orientation period. During this era, they study the company’s policies and procedures and become familiar with the software and technology they will use daily.
- License and Certifications: This pair aid professionals in proving their qualifications to future and current employers. Accounting coordinators can earn certifications to realize more theoretical knowledge of their responsibilities, test their professional skills, and further advance their careers.
- Knowledge of relevant computer applications.
- Data input and knowledge management systems expertise.
- Communication: Communication is a crucial ability for an accounting coordinator since it allows you to transmit information to others and understand what they are saying. You’ll be in charge of talking with customers, other departments, and other people. Gathering, relaying, and interpreting information can all be made easier with effective communication.
- Organization: Organization may be a crucial skill for accounting coordinators. They often manage multiple projects and tasks directly, so they need to be ready to prioritize and keep track of all their responsibilities. Accounting coordinators with good organizational abilities can maintain track of vital paperwork and records. Time management and organization are both necessary.
- Attention to detail: Attention to detail may be a crucial skill for accounting coordinators. this is often because they often handle sensitive information and need to ensure that they enter data correctly and accurately. Paying attention to the details will also help you guarantee that invoices are sent to the correct person and that data is entered accurately into the system.
- Problem-solving: Problem-solving is the ability to identify a problem, analyze it, and find an answer. As an accounting coordinator, you’ll be responsible for solving issues that arise in the accounting department. for instance, if a company’s financial records are missing, you’ll be responsible for finding the records and solving the issue.
- Professionalism: The capacity to act respectfully and courteously toward others is defined as proAs an accounting coordinator, you’ll be in charge of managing the schedules of multiple people, so it’s important to be professional when interacting with them.
- Outstanding computer skills (MS Office in particular).
- Hands-on experience with CRM software.
- Marketing/advertising campaign experience.
- In a team-oriented setting, collaborating effectively.
- Demonstrating excellent presentation skills.
- Excellent customer service skills.
- Critical thinking and analytical abilities must be demonstrated.
How to Become an Accounting Coordinator.
Starting your accounting coordinator career, it’s important to think about the type of company you want to work for. It’s also important to give some thought to what type of work you want to do. While this is true, most businesses assume or demand several general standards. Some of those standards are as follows;
- You must complete a post-secondary accounting education degree before working as an accounting coordinator.The typical program lasts three to four years and includes a variety of courses ranging from finance to statistics. Accounting courses are widely offered at both the secondary and university levels, from both formal and online institutions. High school graduation is required, but most employers want more education and experience in the sector. He or she completes an accounting post-secondary educational program, gets relevant work experience, and earns the Certified Professional Accountant (CPA) designation. The overwhelming majority of employers demand that the accounting coordinator complete formal accounting training and hold a professional designation.
- Complete or thorough knowledge of accounting processes and procedures: When working with sensitive financial information, whether for the firm or people, the capacity to act responsibly and ethically is essential. In many companies, the accounting supervisor is responsible for ensuring policy compliance and staff management
- Work experience. Accounting coordinators typically have previous work experience as an accounting analyst, accounts payable or receivable manager, or during a related position. Candidates must have experience working with accounting and providing appropriate reports to various levels of staff in addition to accounting skills.
Where to Work as an Accounting Coordinator
Accounting coordinators can function as accountants or staff accountants. Account managers can work for a variety of companies, like:
- Retail companies or outlets.
- Healthcare sectors, like the hospital and health centers.
- Banking sectors.
- Educational sectors or the teaching institute.
- Governmental agencies.
- Private organizations.
- Accounting firms.
- Supermarkets and boutiques.
- Nongovernmental organizations.
Accounting Coordinator Salary Scale
When comparing location and compensation for an Accounting Coordinator position, perhaps the most essential factor to consider is the likelihood of a lower cost of living. The salary of an accounting coordinator can be impacted by several factors, including the size of the company, the industry, and the location. These are how these things can affect your earnings as an Accounting Coordinator;
For extensive expertise typically, pay increases are related to your degree of experience. In general, the more years you spend working as an accounting coordinator, the more you can expect to earn.
Location: Where you live can also impact how much you can make as an accounting coordinator. Typically, Working in a large metropolitan location is usually associated with a higher wage and a higher cost of living. The compensation of an accounting coordinator is decided by their education, years of experience, firm size, and industry. They may also receive bonuses as additional remuneration.
The median yearly wage is $44,500 ($21.39 per hour).
The top 10% of annual earnings is $70,500 ($33.89/hour).