Accounting technician jobs are that have been around since the dawn of time. This career path remains one of the most promising today, despite the fact that job competition has increased exponentially over the years and technology is changing the way we work.
A career as an accounting technician, like nearly everything else in life, has advantages and disadvantages. However, the truth is that the career is not good or bad in and of itself, but rather that it is the right fit for some people and not for others.
What you think about accounting technician jobs is determined by your personality, work style, and life priorities. You can make an informed decision once you understand the potential benefits and drawbacks of a career in accounting.
So, is accounting technician a good career for you? To help you decide, continue reading the article till the end.
What is an accounting technician?
An accounting technician is a professional who performs tasks in the areas of accounting, finance, and taxation to assist accountants in their work.
Accounting technicians may work under the supervision of an accountant and are responsible for updating, checking, and analyzing financial records that accountants can then use.
As an accounting technician, you can also provide independent accounting services, which can help you expand your professional portfolio. An independent accounting technician can handle complex tasks like consulting and advisory.
You could work as part of a large team or as the only financially trained member of staff in a small business. Accounting technicians can work in industry, commerce, or the government. Most people in this field begin their careers in finance support.
What is the job of accounting technician?
Accounting technicians perform a variety of practical accounting tasks aimed at the collection, verification, and analysis of financial data for use by accountants.
Wherever you work as an accounting technician, your job will include the following:
- assisting with account preparation
- dealing with fundamental bookkeeping
- invoice processing and payment
- keeping track of receipts and payments
- preparing and reviewing ledger balances as well as other monthly and yearly accounts
- preparing and submitting tax returns, VAT returns, and NI contributions
- handling company expenses and payroll systems that pay wages and salaries
- using computerized accounting systems.
- Examine the data to ensure its accuracy.
- collaborating with clients to create budgets, accounts, and other financial statements
- Administrative duties include organizing payroll.
Accounting technician job description
The following are some of the accounting technician job description:
- Using manual and computerized bookkeeping systems, keep financial records and establish, maintain, and balance various accounts.
- Post journal entries and reconcile accounts, prepare trial balances, keep general ledgers up to date, and prepare financial statements.
- Calculate and prepare payroll checks as well as utility, tax, and other bills.
- Compile and submit tax remittance forms, workers’ compensation forms, pension contribution forms, and other government documents.
- Preparation of tax returns and other personal bookkeeping services
- Prepare other statistical, financial, and accounting reports.
Even though they regularly collaborate and assist chartered accountants, many offer independent accounting services.
Accounting technicians who work for themselves typically take on more complex tasks, such as:
- calculating end of year accounts
- ensuring taxation legislation compliance
- advising on and managing income and expense budgets
As you gain experience, you may be able to take on supervisory responsibilities and more complex tasks, such as:
- preparing financial reports
- planning and budget control
- assisting qualified accountants with account audits
Why a career as an accounting technician
Here are some of the benefits of working as an accounting technician:
- The pay is great.
- You are at liberty to move into other fields.
- There is career stability.
- Job flexibility
- Accounting technician careers are always in demand.
- Potential for career advancement
The pay is great
Earning a large enough salary to cover your expenses and live comfortably appears to be a pipe dream. A career as an accounting technician role may be able to provide you with that lifestyle.
You are at liberty to move into other fields
A career as an accounting technician does not always imply becoming a public accountant or a bookkeeper. Your company’s diversity and transferable skills will make it easy for you to transition into another department if you ever feel the need for a change.
You can get a taste of any relevant field with many opportunities that will open up over time.
There is career stability
An accounting technician job can provide career stability because the skill set is always in demand. Accounting and financial expertise will be required by all companies, large or small, making this a stable field to work in. Accountants are required by businesses on both good and bad days.
Regular hours, a salary that increases over time, leave, and the ability to plan for the future are among the benefits.
These are important considerations when starting a family or settling down. So you can rest assured that your family and health will never be jeopardized.
A job in the accounting industry allows you to work whenever and wherever you want. To find work in some fields, you may need to change your lifestyle and relocate to an industry hub.
Accounting, on the other hand, is a universal requirement. Everyone, from farmers to software development firms, could benefit from the services of an accountant, analyst, or another accounting role. This gives accountants and others in the industry a lot of leeway in terms of where they want to travel or settle down.
Accounting technician careers are always in demand
The job of an accounting technician is an important part of any business, regardless of where you live or how the economy is doing. Accounting technicians and bookkeepers are constantly needed by governments, businesses, individuals, and non-profit organizations to manage budgets, deal with taxes, do financial reporting, and complete audits.
Accounting is not a profession that can easily be outsourced because the accountant must have a thorough understanding of local taxes and business practices.
In other words, there will always be a job for you in this industry, especially if you do your best and stay current on legislative and technological changes.
Potential for career advancement
Accounting is a career with a lot of room for advancement. This refers to the ability to advance through job tiers or positions with greater perks or benefits.
Accountants technician can begin their careers as staff accountants, junior accountants, or auditing associates. After demonstrating their abilities in these areas, individuals can advance to mid-level accounting jobs, senior-level accounting jobs, or top-tier positions.
Accounting is all about keeping track of your spending and saving money. As an accountant gains entry-level experience, they accumulate a wealth of data and figures to demonstrate why they should advance to higher-level positions.
Salary for accounting technician
Salary for accounting technician in the USA
Accounting Technician salaries in the U.S. ranged between $37,908 and $47,401 on average. Salary ranges can vary significantly depending on a variety of factors such as education, certifications, additional skills, and years of experience in your field.
Accounting technician salary in the United Kingdom
In the United Kingdom, the average annual salary for an accounting technician is £24,018.
Accounting technician salary in Texas
In Texas, the average hourly wage for an accounting technician is $24.03.
Accounting technician salary Montreal
In Montreal, Accounting Technicians earn an average of $47,527 per year.
Accounting without degree
Finding accounting jobs without a degree will be difficult, but not unattainable. Some people use this as a chance to obtain work experience in the field before finishing their degree and entering the job market. So, once again, this is a possibility.
However, without a 4-year degree, you will be unable to become a professional accountant or a Certified Public Accountant (CPA). More on how to obtain your CPA later. Having said that, there are some accounting jobs that you can get without a degree.
Here are a few examples:
- Accounting Clerk
- Administrative Assistant
- Tax Preparation
As previously stated, if you want to work in management accounting, it may be easier to get in without a degree. It all comes down to your future goals and what you hope to achieve in the job market.
Accounting technician certificate
The Association of Chartered Certified Accountants in the United Kingdom offers the Certified Accounting Technician qualification. After passing the exams and gaining the necessary practical work experience, the Certified Accounting Technician graduate will be able to apply to use the letters CAT after their name.
Although CAT can be obtained as a stand-alone qualification, it is more common for individuals to study for CAT as an introductory qualification in accountancy before enrolling in the ACCA Professional Scheme to become a Chartered Certified Accountant. The nine CAT exams are typically completed in one and a half years. There is, however, no limit to the number of papers that can be attempted at each sitting.
Association of Accounting Technicians
With over 150,000 members worldwide, the Association of Accounting Technicians (AAT) is the world’s leading professional body for Accounting Technicians. According to Financial Reporting Council records, AAT has 150,000 members (FRC).
Also, licensed bookkeepers are included. It also includes AAT Licensed Accountants, who provide accounting, tax, and business advice to thousands of individuals, sole proprietors, and small and medium-sized British businesses.
Where can accounting technicians work in USA
Accounting technicians work in a wide range of organizations in all areas of business, industry, and commerce. Many start their careers in the offices of chartered or certified accountants. Changing employers during training may be possible. Employers frequently request either part-time or full-time accounting technicians.
Accounting technicians may find work in the following industries:
- accounting firms
- banks and building societies
- educational institutions
- health authorities
- insurance companies
- local government
- the media
- public utilities
- retail companies
- service industries
Also, you could also become self-employed. The number of AAT members who work for themselves is growing. Accounting technicians who work as freelancers offer specialized services to a variety of businesses.
Accounting technicians work as the accountant’s assistants. They assist the accountant with tasks that the accounting clerk is unable to complete. They also keep accounting records and prepare and review the company’s year-end entries.
Also, the accounting technician learns quickly as the accountant’s second-in-command. This allows them to advance quickly toward an accounting position.
FAQs About accounting technician
Depending on your career goals, either path is preferable. Accounting technicians work as the accountant’s assistants. They assist the accountant with tasks that the accounting clerk is unable to complete. They also keep accounting records and prepare and review the company’s year-end entries.
Accounting technicians assist accountants and other financial professionals with a variety of tasks and responsibilities.
The Association of Accounting Technicians offers accounting and finance qualifications, professional membership, and staff training.
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