Accounting Assistant Salary
Accounting Assistants in the United States take home an average $15.38 per hour. Total cash compensation for Accounting Assistants runs from $25K to $46K depending on bonuses that can occasionally exceed $4K and profit sharing that can reach almost $5K. The most important factor affecting compensation for this group is geographic location, followed by years of experience and the individual firm. There are far more female Accounting Assistants who answered the questionnaire than men, making up 87 percent. Unfortunately, some people in this line of work are without benefits — just under a third lack coverage. On the flip side, the larger part have medical insurance and the greater part receive dental plans. The majority of workers are highly satisfied with their job. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
Job Description for Accounting Assistant
An accounting assistant supports a company in its day-to-day accounting duties. One of the main differences between an accountant and an accounting assistant is that an accounting assistant focuses on administrative, clerical, and data-entry duties. For example, the accounting assistant may upload and scan documents for entry into the company's document-tracking software. The accounting assistant may perform other duties such as processing invoices; filing, sorting, and faxing documents and correspondence; answering phone calls; reviewing documents for accuracy and completeness; tracking inventory; and working on spreadsheets.Read More...
The accounting assistant may report directly to a senior accountant or controller. Accounting assistants work in indoor office environments where they deal mostly with computers and office equipment. An accounting assistant will most likely not be called upon to exert significant physical effort, though on some occasions the accounting assistant may be called upon to lift boxes or perform similar tasks. These professionals will most likely work standard office hours, though some companies may occasionally require extra hours on nights and weekends.
Accounting assistants usually must have at least a high school degree, though some positions may require some college experience or prior work experience. Typically, they are expected to have some bookkeeping knowledge or experience, especially in generally accepted accounting principles. An accounting assistant will also most likely be expected to be proficient with standard office software such as Microsoft Word and Excel, as well as accounting and bookkeeping software such as Quickbooks.
Accounting Assistant Tasks
- Monitor and follow up on outstanding claims every 14 days.
- Perform billing-related duties as necessary.
- Compile reports for insurance billings.
- Update phone numbers and addresses, and keep payers up to date.
Common Career Paths for Accounting Assistant
Accounting Assistants sometimes assume positions such as Financial Controllers. That role pays $77K per year on average. When Accounting Assistants are ready for the next step in their careers, they often become Staff Accountants or Accountants. Those roles pay an additional $9K and $10K, respectively.
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Popular Employer Salaries for Accounting Assistant
Those at Fresenius Medical Care Holdings, Inc. can expect to make the most, with the company offering a median salary of $42K.
Popular Skills for Accounting Assistant
Survey takers working as Accounting Assistants report using a large range of professional skills. Most notably, skills in Financial Reporting, Payroll Administration, Accounts Payable, and Billing are correlated to pay that is above average. Skills that seem to negatively impact pay include Quickbooks, Customer Service, and Office Administration. Those proficient in Accounts Payable are, more often than not, also skilled in Microsoft Excel and Data Entry.
Pay by Experience Level for Accounting Assistant
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Accounting Assistants, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. Salaries for the relatively untried average out to around $32K, but survey participants with five to 10 years of experience earn a significantly higher median of $37K. The average pay reported by folks with 10 to 20 years of experience is around $38K. Folks who have racked up more than 20 years in the field report incomes that aren't that much higher than less experienced individuals' earnings; the veterans make just $39K on average.
Pay Difference by Location
Accounting Assistants will find that San Francisco offers an impressive pay rate, one which exceeds the national average by 25 percent. Accounting Assistants can also look forward to large paychecks in cities like New York (+16 percent), Seattle (+9 percent), Minneapolis (+8 percent), and Milwaukee (+7 percent). With compensation 2 percent below the national average, Miami is not known for hefty paychecks and actually represents the lowest-paying market.
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