Duties and Responsibilities of a Financial Accountant

Financial accountants are experts who play a major role in the proper running of the financial and accounting activities of an organisation. These professionals ensure the integrity and accuracy of financial and accounting management. Thoroughly exploring the answer to “what does a financial accountant do?” can help you learn more about the profession and determining if it’s the right career path for you. In this article, we discuss what financial accounting is, explore their typical duties and responsibilities, share the average salary for the role and explain the prerequisites you may consider fulfilling to start your career. Financial accountant

Financial Accountant Duties:

Maintain financial records for assigned clients and ensure that monthly financial reports are complete and accurate
Maintain all financial records of accounts
Maintain all ledger records
Maintain accounts payable and receivable
Liaise with clients and vendors regarding all payments
Analyze financial statements for variances and outliers
Resolve any accounting issues
Provide support for business proposals and projects
Maintain all records and reports for assigned clients

Financial Accountant Responsibilities:

Prepare and maintain all financial, general ledger, and payroll records
Review and approve invoices, purchase orders, and other payment documents
Manage accounts payable and receivable
Prepare monthly financial statements, including balance sheet, income statement, and cash flow statement
Manage monthly reconciliations for accounts payable and receivable, general ledger, and other financial accounts
Make sales tax and income tax payments
Prepare financial reports, including monthly performance reports and quarterly budgets
Assist with regulatory filings, tax filings, and audits
Maintain asset and liability records and reconcile balance sheet accounts
Monitor and analyze performance of financial departments

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