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Duties and Responsibilities of a Staff Accountant 

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Nyongesa Sande
Nyongesa Sandehttps://bizmart.africa
Nyongesa Sande is a Kenyan blogger, Pan Africanist,c olumnist Political Activist , blogger, informer & businesman who has interest in politics, governance, corporate fraud, human rights and television personality.

Staff accountants work with many aspects of accounting, including financial statements, payroll, taxes, and auditing. As you research staff accountant career opportunities, you’ll find that this profession is vast and diverse, with many changes forthcoming. According to a December 2022 article in the Journal of Accountancy, some of the major areas of focus that will affect the field of accounting in 2023 include [1]:

  • Sustainability and ESG (Environmental, Social, and Governance) investments
  • An increasing need for forensic accounting amid identity theft, employee fraud, and other crimes
  • Changes in how individuals plan their finances, amid inflation, economic uncertainty, and new investment opportunities 

What exactly is a staff accountant?

A staff accountant is a member of the accounting department who performs routine financial and accounting tasks. Staff accountants are often responsible for preparing reports, maintaining general ledgers and accounts payable files, and keeping up with the company’s tax obligations. They ensure that all financial records are in order by following generally accepted accounting principles (GAAP).

Staff Accountant Duties:

  • Prepare and maintain accurate and timely financial statements and reports
  • Maintain accounting records, including sales & use taxes, payroll, accounts payable, and accounts receivable
  • Prepare income tax returns
  • Provide support with budgeting, financial planning, projections, and other financial analyses
  • Prepare payroll, distribute payroll and benefit checks, and reconcile payroll for accuracy
  • Manage inventories, including ordering, receiving, and issuing
  • Monitor cash flow and report financial status to the management team

Staff Accountant Responsibilities:

  • Prepare and review financial reports, payroll, taxes, and other accounting functions
  • Assist with general accounting functions, including accounts payable and receivable, fixed assets, and bank reconciliations
  • Maintain and update accounting records, and file all paperwork appropriately
  • Assist with preparation of annual budgets and operating forecasts
  • Maintain and update all federal and state tax requirements, including quarterly estimated tax payments, filing all required forms, and completing all tax filings
  • Assist with internal recordkeeping requirements
  • Perform other tasks as needed

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