General Ledger Accountant Salary
The average General Ledger Accountant in the United States can expect to rake in roughly $52K annually. In the world of General Ledger Accountants, overall cash allowance can occasionally include more than $5K from bonuses and, in some exceptional cases, $4K from profit sharing, causing incomes to vary widely between $38K and $68K. Location is the biggest factor affecting pay for this group, followed by years of experience. Most enjoy medical while a large number get dental coverage. Vision coverage is also available to a strong majority. Most workers in this position report high levels of job satisfaction. Men are in the minority of survey respondents, with female General Ledger Accountants making up 73 percent. This overview is based on answers to PayScale's salary questionnaire.
Job Description for General Ledger Accountant
Companies keep accounting records - comprising a general ledger - for a variety of reasons, from planning future sales and marketing projects to reporting necessary financial information to regulatory agencies and shareholders. The general ledger accountant is responsible for making sure that the general ledger is a complete and accurate record of the company's financial transactions. Depending on the size of their organization, the general ledger accountant may be an accounting team member specializing in specific aspects of the accounting process; they may also oversee the entire process, supervising subordinate accountants and the acting as the final arbiter of the ledger. These accountants generally works in an office environment during regular business hours, although overtime may be required as deadlines approach.Read More...
A bachelor's degree in accounting is a typical minimum requirement for this position. Three to five years of experience in an accounting or bookkeeping capacity is generally required or preferred. In addition, status as a certified public accountant (CPA) may be preferred by employers as well. Any accounting role requires sharp attention to detail, well-developed mathematics skills, and a strong understanding of accounting principles. The general ledger accountant must also have excellent organizational and communication skills, as well as the leadership skills needed to supervise an accounting team.
General Ledger Accountant Tasks
- Reconcile balance sheets, accounts, and invoices.
- Prepare monthly, quarterly, and ad hoc reports with variance explanations.
- Prepare and post entries to the general ledger and manage the monthly close process.
- Prepare and implement audit schedules and process re-engineering to reduce financial errors.
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Popular Skills for General Ledger Accountant
Survey results imply that General Ledger Accountants put a diverse skill set to use. Most notably, facility with Cost Accounting and Financial Analysis are correlated to pay that is significantly above average, leading to increases of 31 percent and 3 percent, respectively. Accounting and Accounts Receivable, on the other hand, are typically associated with much lower pay. Most people familiar with General Ledger Accounting also know Financial Analysis.
Pay by Experience Level for General Ledger Accountant
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For General Ledger Accountants, experience does not seem to be a major factor in determining pay. The average inexperienced worker's salary is approximately $49K, and people with five to 10 years of experience bring in more at around $52K on average. The average pay reported by folks with 10 to 20 years of experience is around $54K. In the end, the overall pattern seems to be that more experience generally corresponds to higher pay; a General Ledger Accountant with more than 20 years of experience can earn $59K on average.
Pay Difference by Location
For General Ledger Accountants, working in the bustling city of San Francisco has its advantages, including an above-average pay rate. General Ledger Accountants can also look forward to large paychecks in cities like San Jose (+19 percent), San Antonio (+11 percent), Salt Lake City (+9 percent), and Seattle (+6 percent). Compared to the national average, Minneapolis General Ledger Accountants have considerably lower salaries, 24 percent below the national average to be exact. Location appears to be a major driving force in pay for those in this profession. Workers in Nashville and Dallas earn less than others in this profession; their salaries fall short of the national average by 12 percent.