Accounting Technician

Alison; United Kingdom; On-site; GBP 25,000 - 45,000

Job description

Math whizzes who revel in paying meticulous attention to detail, Accounting Technicians unlock the secret language of numbers to steer a business with precision and creativity towards balanced success.

What do Accounting Technicians do?

An Accounting Technician would typically need to:

1. Collate, check, analyse, and prepare the financial information professional accountants and business managers need to make decisions or give financial advice.
2. Handle basic bookkeeping tasks; examine vouchers and purchase orders, process and pay invoices, and record receipts and payments.
3. Compute charges for services or goods, prepaid expenses, preliminary tax entries, and depreciation for bookkeeping and tax purposes.
4. Prepare cheques; make bank deposits and ensure the accurate reconciliation of bank transactions.
5. Monitor company expenses; perform accurate data entry and analysis for the financial year to track transactions efficiently; resolve and report discrepancies.
6. Help with account preparation; prepare, analyse, and reconcile ledger balances, journal entries, and monthly/annual accounts.
7. Manage payroll systems for staff wages and salaries; ensure tax returns, VAT (value-added tax) returns, and insurance contributions comply with legislation.
8. Prepare periodic statements and assist with the remittance of end-of-year accounts from a tax standpoint.
9. Calculate inventory costs, implement internal controls, and protect the company's assets; identify and close out overdue accounting transactions.
10. Offer assistance and recommendations during inspections, audits, budgeting and year-end closing.
11. Use industry-specific software for financial management, financial reporting, planning and budget control; notify systems developers of user requirements.
12. Recommend procedural changes and innovative solutions to increase accuracy and prevent discrepancies.
13. Liaise with managerial staff, colleagues, and clients; train, mentor, manage, and lead a team of junior accounting technicians and clerks.

Accounting Technicians generally work in comfortable, well-lit office buildings in various industry settings. Their work includes being on a computer system for long hours and regular interaction with colleagues, clients, and managers. One may have to travel to clients' businesses to assist accountants with audits.

Professional organisations offer accounting or public finance and accountancy apprenticeship training programmes to aspiring Accounting Technicians. Some regions offer intermediate, advanced, and higher/degree apprenticeships with varying prerequisites.

The typically one- to three-year-long scheme allows apprentices to earn a handsome stipend while they master in-demand skills and knowledge under an experienced mentor. Successful apprenticeships lead to an industry-recognised credential and may facilitate a debt-free college degree and full-time employment.

Individuals with at least a few years of experience as an office clerk or bookkeeper can work their way up to an Accounting Technician's position within the same organisation after meeting specific requirements.

Entry-level positions and internships in the accounting/finance departments of non-profit organisations or government agencies can also help acquire experience in maintaining financial records, recording transactions, and entering data into accounting software.

Detail-oriented individuals with relevant educational qualifications and certifications in finance or accounting, practical experience with accounts and bookkeeping, and problem-solving, teamwork, and collaborative skills, have the best job prospects.

Continuing professional development (CPD) will help an active Accounting Technician build personal skills and proficiency through work-based learning, a professional activity, formal education, or self-directed learning.

Most employers provide on-the-job training to familiarise new hires with the company's accounting software and procedures, including recording cash expenses and income. Besides, many employers are willing to support their employees' professional development; they sponsor further education and grant adequate study leave.

While an employer may have the final say in the promotion, incumbents may find investing in relevant certifications and a master's degree in accounting or business administration worth the while.

Technicians who could not do so earlier make the most of part-time study or distance learning options to obtain the CAT qualification that paves fast-track routes to chartered accountancy and a boost up the career ladder.

Accounting Technicians may also need to undergo an employment background check, including but not limited to a person's work history, education, credit history, motor vehicle reports (MVRs), criminal record, medical history, use of social media, and drug screening.

A passion for complex problem-solving, an eye for detail, and a drive to make numbers dance breathe life into an accomplished Accounting Technician's meticulous efforts to bring financial order and prosperity to a business.