Accounting Technician

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.

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

Additional knowledge of accounts payable and receivable, bank reconciliations, financial reporting and payroll processing will enhance a potential Accounting Technician's ability to land a coveted job. Employers may also appreciate applicants with adequate experience in tax preparation and compliance, industry‑specific software, general financial analysis, and business communication.

Expertise in healthcare, real estate, or manufacturing can further strengthen an applicant's claim to handle industry‑specific accounting needs efficiently.

While pursuing post‑secondary education, students may secure summer internships or part‑time jobs with accounting firms or volunteer as treasurer for a university society to acquire relevant pre‑entry work experience.

The experience may also help determine whether the public, private or…