Accounting Jobs – Are You Focussed Enough?

A hard-working and knowledgeable accountant is an invaluable asset to any company, large or small. Accountants are highly-trained in the areas of math and finance, which allows them to calculate and keep track of how well a company is doing financially. However, accountants do more than just crunch numbers — here are some of the common, and lesser-known, job functions of an accountant.

Payroll
One of an accountants main duties is to calculate the total salaries or wages of each employee within the company. The accountant also totals information for the employee’s year-to-date earnings, taxes and other deductions. Accountants also make and distribute employee checks, which includes a check stub that lists the above information. Because payroll is such a complex and time-consuming tasks, many companies outsource this task to accounting firms or banks.

Recording Transactions
Another one of an accountant’s most basic, and perhaps most important, duties is to keep track of a company’s cash received. Each transaction must be accurately recorded, and the cash must be deposited into the correct company account. The accountant also keeps an accurate record of who has paid the company, and how much money others still owe the business.

Fraud Discovery and Prevention
Though accountants within a company keep financial records, there are also outside accounts who perform audits, or evaluations, of those same records. During an audit, an outside accountant will compare a company’s invoices, receipts, purchase orders and other records with the records that the company’s accountant produced. If things have been done correctly and honestly, an audit will not reveal anything. However, if the company’s accountant has produced records that contain falsified information, an outside accountant will discover it during an audit.

Disbursements
When a business needs to send out a check, the accountant is the person responsible for making the check and passing it along to an individual who is authorized to sign it. In addition, the accountant keeps documentation that tells them when a check needs to be written and the amount it should be written for. This ensures that any companies or individuals are paid in an accurate and timely manner.

Offering Financial Advice
Accountants may also be called upon to help companies make tough financial decisions in times of crisis or uncertainty. Because financial and tax laws are always changing, accountants should be up-to-date on what is happening in their field so they can help their company make decisions that could have harsh financial consequences.