what is an accounting technician?
As an accounting technician, you assist accountants and finance professionals with basic accounting tasks. You perform administrative and data entry tasks related to the preparation of financial records. Your duties include overseeing the filing and recording of financial documents, such as purchase orders and vendor contracts. Aside from recording customer bills and accounts receivables, you perform routine tasks to ensure accurate records are kept, including reconciling monthly bank statements and auditing financial statements.
Since your role generally involves handling the technical aspects of financial support tasks, you set up the company's accounting software and ensure accurate data entry. Other duties include filling out tax remittance forms and calculating taxes for individual employees to ensure compliance with statutory requirements.
As an accounting technician, you can work in any industry, from retail companies to consultancy services and manufacturing companies. For instance, you may work for charities or non-governmental organizations, as well as in the public sector, managing government finances in various offices.
Due to the accuracy expected in recording financial transactions, you should be attentive to details. Your detail-oriented skills help you when preparing tax remittance forms and reconciling bank statements. You also require analytical skills in order to handle large amounts of data and generate accounting reports.
Would working as an accounting technician suit your attentiveness to details? Then read on to find out what competencies and qualifications you need to thrive in an accounting technician role.accounting technician jobs
average accounting technician salary
According to Job Bank, the average salary of an accounting technician in Canada is $52,819 per year. In an entry-level role, you start with a lower salary of $42,907 annually. However, with experience, you can take home over $60,416 per year.
how to increase your earnings as an accounting technician
Your salary depends on your experience and qualifications. Hence, the best way to boost your salary is to improve your skills and gain additional qualifications. For instance, if you have done the first level of accounting professional course, consider obtaining the certification to increase your earnings. Gaining experience in using accounting software also boosts your earnings significantly.
The complexity of your duties influences your earnings. When starting, you perform basic bookkeeping tasks, like recording financial transactions and customer bills. With experience, you can perform complex tasks, such as calculating taxes on employees' salaries and filling out tax forms. When you perform complex tasks, you will likely earn more than accounting technicians who carry out basic data entry tasks.
Working as an accounting technician for a large company can also improve your earning prospects. Large companies handle huge financial transactions, requiring accurate financial records to avoid discrepancies.
types of accounting technicians
As an accounting technician, you can work as an entry-level clerk in charge of recording billing and other financial transactions or focus on maintaining the books. In an entry-level accounting technician position, you record customer billings, account receivables and accounts payables. You also maintain the organization's accounting software to ensure all transactions are available in the system for generating financial reports. In a bookkeeping capacity, you focus on maintaining the company's books of accounts. That includes monitoring company accounts, paying bills on time, and keeping track of expenses.
working as an accounting technician
If you are good at math and enjoy working in an accounting environment, becoming an accounting technician could be the right job for you. Let's explore the duties, work environments and career opportunities in the role.
accounting technician skills and education
Some of the educational requirements for becoming an accounting technician include:
- College program: some employers expect accounting technicians to have completed secondary school education. If the employer doesn’t provide on-the-job training, pursue a college program in bookkeeping or accounting. Alternatively, complete the first two years of a professional program like Certified General Accounting (CGA) or Chartered Professional Accounting (CPA)
- Work experience: since the accounting technician role is not regulated in Canada, you don't need professional certification. However, you require knowledge of International Financial Reporting Standards (IFRS). You can gain experience by working as a data entry or accounting clerk in the accounting or finance department.
competencies and characteristics of accounting technicians
Aside from educational qualifications, you require the following attributes to excel as an accounting technician:
- Computer skills: most companies use computer software to record accounting transactions. Hence, you require computer skills and proficiency in using specialized accounting software. Your computing skills help you record financial transactions, track expenses and update accounts. Since accounting software keeps changing, you should stay updated with the latest developments to improve your skills.
- Detail-oriented skills: as an accounting technician, being attentive to details helps you avoid making errors in your bookkeeping tasks. Precision is required during data collection and calculations; even minor errors lead to significant consequences. Your detail-oriented skills help you detect any errors and inconsistencies in financial reports.
- Communication skills: as an accounting technician, you work with other professionals in the accounting department. You rely on your communication skills to express your ideas and thoughts concisely, verbally and in writing. Listening skills are also important to understand instructions from senior accountants.
- Organization skills: as an accounting technician, you require organization skills to manage your tasks. Being organized gives you adequate time to perform accounting operations accurately. Organization skills help you prioritize tasks, manage schedules and coordinate accounting activities.
- Analytical skills: your job involves analyzing large amounts of data on behalf of other accountants. With your analytical skills, you can create accurate reports and detect inconsistencies in financial data.
Here, you will find the answers to the most frequently asked questions about the profession of an accounting technician.
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