If you’re looking to learn the process of keeping, analyzing, verifying, and reporting financial records, you may want to consider a career in Accounting administration. Accounting and payroll administration go hand-in-hand.
What is accounting administration?
Accounting administration involves the practice of:
- Keeping financial records for future use
- analyzing these records
- verifying and as well reporting the available results.
Oftentimes, account administrators are involved in budgets, forecasts, and projections of the financial year.
Duties of the Account Administrator
- Processes bank deposits both inward and outward from customers and for the business.
- Account administrator prepares and stores invoices as a record for future purposes.
- Keep in touch with customers, reminding them to pay in for their debt settlements timely.
- Where there are irregularities, the administrator regularizes and reconciles books of original entries.
- Reconcile the bank statement in time, identify possible loopholes, shortfalls, and make a recommendation with recourse to the period under review.
- Submitting tax forms.
The duties are more than this, and we can’t mention them all at this time. That said, one can only get to understand this subject better by interweaving payroll administration elaborately too.
Accounting Administrator Salary Expectations
You should expect around $20/hour, which should amount to $41,000 annually for median salary and $32/hour, which amounts to $66,000 annually for high-end salary earners
Becoming an Accounting Administrator
The fastest route into the Canadian labour market is through a diploma program. Given this, a diploma in accounting and payroll administration has the potential to put you in the driving seat because every business in Canada needs this service for its finances and employee compensation.