Defining the Job Description for an Accounting Technician Job
Most accounting technicians are expected to perform and complete the entire accounting cycle at micro-levels. In which case, this accounting professional should:
- Be able to work without supervision.
- Understand the transactions that link other types of industries to that of his employer’s. This pertains to banking, investing, and financing transactions and facilities as well as the task of accounting and reconciling funds deposited, invested, or received. These may include government grants and/or NGO-assisted projects.
- Prepare payroll and remit the monthly, quarterly, and annual federal and statutory tax requirements.
- Maintain the general ledger books by performing the related bookkeeping tasks.
- Perform year-end closing and adjusting procedures as a prelude to financial statement preparations.
- Budget preparations and analysis of its variances against actual data.
- Prepare financial statements and ensure their timely submission to regulatory bodies.
- Other functions that may be assigned from time to time may include but are not limited to:
- Analyzing and testing the impact of latest technological developments that could affect his employer’s business.
- Evaluating the effects of the latest government regulations and, if necessary, presenting cost-reduction solutions compliant with the GAAP rules and standards.
- Conducting studies and evaluating products or incentives being offered as cost-efficient alternatives as a means to gain an edge over the employer’s business competitors.
In larger companies, accounting technicians perform these functions by specializing on a particular account and coordinating with other accounting technicians that provide support to the unit head and the accounting manager. As an example, one may be assigned to handle the accounting of the collections section with a job title of Accounting Technician II.
In this case, the technician’s main concern is the accounts receivable account, and the bookkeeping and analytical work performed on the subsidiary ledgers, aging reports, provisions for bad debts allowance, and recommendations for write-offs, as well as the preparation of payment reminders and collection letters.