Accounting Specialist Salary
Job Description for Accounting Specialist
Accounting specialists are responsible for executing accounting tasks and strategies for their organizations and performing day-to-day financial activities including completing tax forms, logging revenues and expenses, and balancing checkbooks. They are also tasked with providing support to the financial department to find discrepancies in billing, payroll, and expenses, and must have strong problem-solving skills to find innovative solutions to save company resources and reduce expenses.Read More...
Accounting specialists work in an office environment and use a personal computer to make calculations, write reports, and use spreadsheet software, and they work closely with vendors and accounts payable and receivable to keep accurate records for future reference. They must follow strict privacy guidelines to protect confidentiality and help organize accounting procedures and prioritize deadlines to ensure that important documents are sent to the right places. They should also work well in a team setting with other accounting specialists to achieve all objectives in a timely manner.
Accounting specialists must share information with other departments to reconcile accounting accuracy, and they are also responsible for preparing account statements, responding to correspondence, distributing invoices, and keeping track of client billing. They must pay close attention to detail during file reading to find errors in accounting to communicate to tax and audit representatives, and they also complete complex transactions and organize financial data in readable formats.
A bachelor's degree in accounting, finance, or a related field is generally required for this position, and prior experience in the field is highly beneficial. Industry and financial certifications are also helpful.
Accounting Specialist Tasks
- Manage various forms of accounting data, such as that related to accounts payable and accounts receivable.
- Contribute to maintenance of accounting data and provide support as needed to accounting department.
- Processes documents related to expenses, such as checks.
Common Career Paths for Accounting Specialist
Accounting Specialists' salaries may rise greatly for those who assume a higher-end position such as a Financial Controller. The average Financial Controller brings home $77K per year. When Accounting Specialists are ready for the next step in their careers, they often become Staff Accountants or Accounting Managers. Those roles pay an additional $4K and $21K, respectively.
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Popular Skills for Accounting Specialist
Survey takers working as Accounting Specialists report using a large range of professional skills. Most notably, skills in SAP SAP Financial Accounting and Controlling, Reconciliation, Financial Reporting, and Bookkeeping are correlated to pay that is above average, with boosts between 3 percent and 10 percent. At the other end of the pay range are skills like Data Entry and Microsoft Office. Those proficient in Accounts Payable are, more often than not, also skilled in Microsoft Excel and Financial Reporting.
Pay by Experience Level for Accounting Specialist
Median of all compensation (including tips, bonus, and overtime) by years of experience.
The average beginner in this position makes around $37K, but folks who have been around for five to 10 years see a markedly higher median salary of $41K. People with 10 to 20 years of experience make an average of about $43K in this role. Respondents who boast more than two decades on the job don't boast commensurate pay, unfortunately; these veterans see average earnings of only $41K.
Pay Difference by Location
Home to some of the best pay for Accounting Specialists, Seattle offers exceptional salaries, 19 percent above the national average. Accounting Specialists can also look forward to large paychecks in cities like Chicago (+19 percent), Denver (+15 percent), Dallas (+13 percent), and Atlanta (+10 percent). The smallest paychecks in the market, 13 percent south of the national average, can be found in Tulsa. Below-median salaries also turn up in Cedar Falls and Portland (7 percent lower and 5 percent lower, respectively).
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