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