Have you always had an interest in maintaining books regarding finances? If so, the job of an accounting clerk might be perfect for you. This career involves bookkeeping to keep track of finances, entering income and costs into the books, create reports regarding finances, double checking financial figures to ensure accuracy, and more. Job security is anticipated to be good in the years ahead. There will likely be many job opportunities for individuals seeking a position as an accounting clerk. Accounting clerks typically work full time, and the pay is pretty good. If this field sounds like it may be of interest to you, here are all the details you need to know about. In this article, you can learn everything from an accounting clerk salary to the accounting clerk job description.
Overview of an Accounting Clerk Salary
According to the BLS, the median annual salary for accounting clerks is $35,170 per year in May 2012 or $16.91 an hour. The lowest 10% of accounting clerks earned less than $21,610, whereas the top 10% of health services managers earned more than $54,310 per year. This is median annual salary is slightly higher than the average median for all occupations which was $34,750 per year as of May 2012. Accounting clerks who have greater levels of education and more years experience are more likely to receive higher annual salaries.
Earning Factors of an Accounting Clerk Salary
The salaries of accounting clerks tend to vary based on what level of education they have (high school diploma, associate’s degree, or bachelor’s degree), how many years of experience they have, what setting they work in, and what region they are employed in. Accounting clerks may be able to earn additional money through profit sharing and bonuses. Annual bonuses may be as much as $3,000 per year. Hours worked over the typical 40 hour work week may also contribute to higher earnings. Individuals who have worked as accounting clerks for many years tend to earn slightly higher salaries than people who are starting out in the field. Entry level salaries for accounting clerks are often right around $31,000, and late career salaries for accounting clerks tend to be right around $35,000. Accounting clerks who work in San Francisco receive an annual salary that is higher than the average. Other high paying cities for accounting clerks include Chicago, New York, Minneapolis, and Austin. The lowest paying cities for accounting clerks are Miami, San Antonio, and Oklahoma City.
Accounting Clerk Job Description
The job of an accounting clerk is ideal for people who enjoy working on computers and maintaining financial records. Typically, accounting clerks work full time (40 or more hours each week.) Depending upon setting in which they work, they may be required to work in the evenings, over the weekends, or extended hours. They may need to work overtime during the holidays or during vacation season. Accounting clerks typically work independently, but they occasionally work in teams with other accounting clerks and accountants. Job satisfaction tends to be rather high for accounting clerks.
A typical accounting clerk job description contains the following items:
- Use bookkeeping software to maintain financial information
- Keep track of financial transactions with bookkeeping software
- Accept and keep track of checks and cash
- Monitor income and expenses and keep track of them by entering them into the software
- Create balance sheets and reports
- Check the accuracy of reports
- Document any notable differences in the financial records
- Assisting certified public accountants
The job responsibilities of accounting clerks may vary. Some accounting clerks may be fully responsible for maintaining the financial books, whereas other accounting clerks may only have certain responsibilities designated to them. Throughout each work day, basic math concepts must be used to complete work assignments. Also, computer proficiency is very important as most accounting clerks use computers to enter and maintain the financial data.
An accounting clerk must have these important qualities:
- Oriented to small details
- Strong computer technology skills
- Solid mathematical skills
- A sense of ethics and integrity
- Communication skills
- Works well under pressure
Most accounting clerks work in offices, and they typically do not have to travel for their job. The job tends to be fast paced and flexible.
Accounting Clerk Job Outlook
The BLS projects that the accounting clerk job outlook is good. The employment rate is anticipated to grow by 11% between the years 2012 and 2022, which is approximately as fast as the rate of growth for all other occupations. The demand for accounting clerks is closely tied to economic growth. More accounting clerks will be needed as more organizations are created and expand. There will be greater demand for accurate bookkeeping. Technological only make accounting clerks’ jobs slightly easier overall. Accounting clerks will still be needed to enter data and ensure accuracy.
Let’s look at the accounting clerk education requirements that will be needed in order to compete for these coveted positions.
Accounting Clerk Education Requirements
An accounting clerk manager education typically consists of a high school diploma or GED. That being said, some employers prefer hiring an individual who has an associate’s degree or bachelor’s degree in accounting or business. Accounting clerks typically receive on the job training. Newly hired accounting clerks are often assigned a supervisor who teaches them how to complete their work tasks. This on-the-job training typically lasts approximately 6 months. Some accounting clerks may also need in the classroom education in specialized areas, especially if they do not have any form of higher education. Individuals who have a bachelor’s degree may be able to be promoted to higher level accounting positions.
Some accounting clerks decide to seek certification. However, certification is not mandatory for accounting clerks. In order to become certified, accounting clerks must have a minimum of 2 years of relevant experience in order to become certified. They must also pass a lengthy exam that contains 4 sections. Additionally, they must agree to follow an accounting clerk code of ethics.
It is possible for accounting clerks to be promoted if they have a combination of education and work experience. A promotion for a qualified accounting clerk would likely be a position as an auditor or an accountant.
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