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Duties of A Staff Accountant

Duties of A Staff Accountant – The Staff Accountant is in charge of billing for different grants, reconciling the general ledger account and bank statements, making journal entries and financial statements, making and keeping track of periodic reports, maintaining the fixed asset system, helping with the annual budget, putting together grant applications and spending reports, making statistical and financial reports for creditors and agencies, keeping records, and helping the Chief Financial Officer.Duties of A Staff Accountant

Bookkeeping, the organization of financial records, and the performance of the computations required to file taxes are the responsibilities that fall under the purview of staff accountants. To obtain a position in the industry, you will typically need to possess a bachelor’s degree in accounting, and certain businesses give preference to those who are working toward earning their Certified Public Accountant designation (CPA)


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A Staff Accountant is an extremely valuable asset to the financial department of a medium-sized to large-sized business. Staff Accountants are responsible for the preparation of documents and tax returns, as well as the writing of invoices and the delivery of reports. Staff Accountants also assist senior Accountants with a variety of financial responsibilities. They may also take on advising roles and execute responsibilities such as conducting forecasting analyses, tracking spending, offering budget proposals, and assisting with audits. They may also take on consulting positions. Information Guide Nigeria

Staff accountants are responsible for a diverse array of tasks, the majority of which are associated with maintaining financial records and filing taxes. Some staff accountants report directly to a certified public accountant (CPA), for whom they provide assistance in the organization of financial documentation, the maintenance of compliance with government rules, and the preparation of tax returns for clients. Others find employment with businesses, typically working under the supervision of a senior accountant, performing tasks such as payroll, receivables, and financial statements.

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Duties of A Staff Accountant
Photo Source: Job Descriptions WIKI

Duties of A Staff Accountant

  • As assigned, close and manage financials for subsidiary companies/divisions. (Duties include, but are not limited to, journalizing accounting entries, estimating accruals, reconciling accounts, producing schedules, reconciling bank accounts, preparing divisional allocations, and preparing executive reports.)
  • In the Blackline Accounting system, reconcile and certify journals, accounts, and tasks.
  • Conduct financial research and analysis at the account, entity, division, department, and customer levels.
  • Provide written and verbal financial outcomes communication to Executive Management.
  • In the IBM Planning Analytics (TM1) system, analyze budget and forecast data.
  • Assist in the preparation of internal and external audit samples
  • Effective communication and problem-solving abilities are required.
  • Accounting, billing, spreadsheet, and presentation applications are all used.
  • Carry out a variety of difficult account analyses and reconciliations.
  • Reconciles the general operating account and payroll bank statements, as well as the cash journals, and inserts them into General Ledger.
  • Prepares reports using statistical, economic, and financial principles and procedures, such as the state Annual Report of Clinics and federal Uniform Data System reports.
  • All grant application budgets are assisted by the Financial Analyst for assessment by the Controller and Chief Financial Officer.
  • Complex analysis and reasonableness checks are applied to the budgeting process for federal and state programs.
  • DFAFS reports are electronically submitted to federal agencies based on grant receipts.
  • Prepares numerous financial paperwork for regulatory compliance.
  • Coordination and maintenance of various grant billings and reports; verification that all billings are complete and reconciled to the general ledger; and compilation of sophisticated grant expense reports as requested by grantors.Β 10 Best Companies to Work in Canada as a Foreigner
  • All periodic financial papers required by interested creditors, grants, and government agencies are monitored and submitted for mailing.
  • Maintains a records retention log to aid in the organization of permanent records and the adherence to record preservation policies. Good Morning My Love Message
  • Assist with the month-end closure process, which includes performing research and creating corrective journal entries for account discrepancies, preparing closing journal entries, posting accrual entries, and preparing financial statements.
  • Assists the Chief Financial Officer in putting together a variety of private reports for use in collective bargaining unit talks.
  • During vacations and absences, assists and backs up the Payroll Clerk while preserving strict secrecy.
  • Maintains the finest fixed asset system, which includes journal entry preparation, general ledger reconciliation to the fixed asset system, and depreciation schedule development for budgeting purposes.
  • Keeping an up-to-date record of accounting files
  • Creating cost reports and budget projections

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  • Assisting with the handling and processing of tax payments
  • Communicating with clients to help them comprehend their accounting concerns
  • Preparation of month-end and annual reports
  • Keeping a general ledger and cost and asset records
  • Reconciliation of bank statements, balance sheets, and tax forms
  • Assisting with document preparation for internal and external audits
  • Providing financial assistance to clients
  • Following accounting laws and requirements
  • Coordination of daily accounting procedures with the Accounting Manager
  • Maintaining a calendar of finance processing and reporting deadlines
  • Accounting software is used to record everyday financial transactions and activities.
  • Creating spreadsheets and checking financial transactions JAMB Portal
  • Email and phone calls are used to follow up on payments and disbursements.
  • Examining internal accounting practices/procedures and making recommendations for changes/improvements
  • Financial data research, evaluation, and interpretation
  • Maintain the general ledger and a variety of financial records for the company.
  • Create financial reports to present department heads, the CEO, and shareholders with regular updates.
  • To offer new organizational and reporting strategies, review the company’s historical tax records, financial statements, and other pertinent data.
  • Carry out daily bookkeeping and administrative chores.
  • Maintain accountability and conformance to local, state, and federal accounting regulations by monitoring the company’s financial transactions for appropriate usage.

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  • In order to compile financial accounts, invoices, journal entries, and budget sheets, gather information and data from all relevant parties.
  • Create invoices and request payment from various parties for services rendered.
  • To ensure the timeliness and correctness of compensation, keep a list of firms, invoices, and services.
  • As needed, compute figures for various staff employees.
  • Meet with clients and advise businesses to acquire information about tax breaks or incentives.
  • Reimbursement requests must be processed. NYSC Portal
  • Make recommendations on how to boost company savings, maximize budget, and improve ROI.
  • To evaluate and review balances, use an automatic consolidation system.
  • Update financial information on spreadsheets on a regular basis and keep accurate records of spending, deductions, and revenue at all times.
  • Analyze the present accounting procedures in the financial department and give recommendations for increased accuracy and continuity.Β 15 Best Photochromic Glass and their Prices in Nigeria
  • Respond to financial inquiries by finding pertinent information about tax procedures, policies, and laws.
  • Accounting support is provided to senior accountants and supervisors through a variety of duties such as account reconciliation, account assignment, and disbursement requests.
  • Using Microsoft Excel, do balance analyses and record updates.
  • Make budget recommendations after reviewing financial transactions.
  • Monthly closings and financial reports must be prepared and carried out.
  • Assist the senior accountant with the review and audit of the annual budget.
  • Examine payroll records for accuracy and punctuality.
  • Other responsibilities may be allocated. Romantic Love Message

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Conclusion

We hope that you will find this article useful. You can also use this as a guide to know the duties of a staff accountant if you are hoping to work as one.

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