Accounting Coordinator Job Description – An Accounting Coordinator is an important part of the financial health of an organization, who is responsible for multiple accounting functions and transactions. This position demands meticulousness, with superior analytical, organizational, and accounting knowledge. The Accounting Coordinator works hand-in-hand with the accounting team, management, and other departments to ensure records are kept accurately for the best financial operations.
Accounting Coordinator Job Description Key Responsibilities:
Accounts Payable Management:
- Review invoices received from vendors ensuring accuracy and compliance with company guidelines
- Make sure that the vendors are paid in time, and by their payment method
- Deal with accounts payable transactions and resolve the discrepancies or issues that come across
- Maintain vendor files and communicate professionally with vendors who are asking for payment
Processing of Accounts Receivable:
- Create timely and accurate customer invoices from sales orders or services delivered
- Review account receivable aging reports and address payments overdue
- Resolve discrepancies by reconciling customer accounts
- Work with sales and customer service on customer inquiries and billing discrepancies
General Ledger Maintenance:
- Enter bookkeeping data correctly in the general ledger, utilizing accounting software
- Create and post journal entries when necessary to accruals, prepayments, and adjustments
- Balance general ledger accounts as part of your monthly close process to validate the financial statements
- Release month-end and year-end closing passes with financial statements detection
Financial Reporting:
- Prepare financial reports by collecting, formatting, analyzing, and explaining information
- Help to prepare budgets and forecasts and give valuable insight into financial performance and trends
- Create reports and analyses for management or stakeholders as needed
Payroll Administration:
- Process payroll data entry; maintain payroll system, including managing payroll calculations, distributing paychecks/direct deposits
- Maintain accuracy of employee time records and compliance with payroll policies and regulations
- Answer employee questions about pay and ensure pay discrepancies are corrected in a timely manner
Audit Support:
- Work with internal & external auditors during financial audits by providing requested documentation/explanations
- Help with the preparation of audit schedules and reconciliations to analyze and verify account balances
- Execute audit suggestions and necessary modifications to internal controls
Challenges from the Compliance and Regulatory Requirements:
- Keep abreast of current developments in accounting standards, tax regulations, and other financial compliance requirements
- Compliance with local, state, and federal financial reporting guidelines and taxation
- Help prepare reports, such as tax filings and compliance reports
Process Improvement:
- Find space to audit accounting processes and enhance efficacy
- Advise on and make improvements to policies, processes, and systems in order to improve efficiency and accuracy
- Work in cross-functional groups for the implementation of any new accounting software or tools and provide training as needed to users
Qualifications and Skills:
- Undergraduate degree in Accounting, Finance, or equivalent degree
- Experience: 2+ years of accounting or finance experience, specifically in corporate environments
- Hands-on experience with accounting software like FreshBooks and QuickBooks
- Good knowledge of accounting principles and practices
- Strong in analysis and problem-solving skills
- Highly logical and accurate data entry and financial analysis skills with an excellent attention to detail
- Excellent written and verbal communication skills
- Highly independent and collaborative with the ability to be self-led in a fast-paced environment
- Expert-level experience with Microsoft Excel and other MS Office applications
- A CPA certification or progress towards certification is a bonus
The role of the Accounting Coordinator job is responsible for the accurate and timely processing and recording of financial information. The Accounting Coordinator job is crucial for the company to succeed and maintain over the long term, being responsible for accounts payable, accounts receivable, general ledger maintenance, financial reporting, payroll administration, audit support, and ensuring compliance meets regulatory requirements. Through their critical eye, problem-solving mindset, and dedication to development, the Accounting Coordinator is responsible for fostering effectiveness, precision, and visibility in financial detail.