Junior Accountant Job Description
Junior accountants support the financial department with daily accounting tasks, such as filing taxes and managing bookkeeping records. This job includes preparing financial statements and reports, correcting errors in data, and ensuring that accounts are up to date with correct invoices and transaction details. This is typically a full-time job during regular business hours, although overtime may be required during busy periods, such as when taxes are due. This job is well suited to people with an aptitude for math, computer skills, great report writing skills, and excellent attention to detail.
Junior Accountant Duties and Responsibilities
The type of organization a junior accountant works for will determine the duties they perform on a regular basis. Based on job listings we analyzed, a junior accountant’s responsibilities typically involve:
Junior accountants create regular written or verbal reports which detail information about the company’s debts, budgets, deficits, and expenditures for that week or month.
Identifying Errors in Data
Junior accountants examine and analyze financial data regularly to identify any errors, which then need to be corrected and reports updated to include these changes so that all information is accurate.
Managing Financial Accounts
For businesses with subsidiary or sister companies, junior accountants are responsible for managing the financial accounts and balancing the books for those companies. They process journal entries to ensure that all business transactions are recorded with as much additional information as possible, and that all invoices are provided.
Filing Company Taxes
Junior accountants deal with the filing of the company’s taxes, which involves maintaining corporate tax records and ensuring that the business’ financial data is accurate and up to date.
Handling Bookkeeping Reports
Junior accountants handle the bookkeeping reports for the company, or for clients, on a quarterly or annual basis, as well as providing an analysis of the financial state of the company. They ensure that all reports and tasks are completed in line with financial and company guidelines.
Junior Accountant Skills and Qualifications
Junior accountants should have an aptitude for math, be able to work independently, have strong writing and speaking skills, and be adept at picking up new computer programs quickly. Typically, employers will require a bachelor’s degree in accounting or a similar subject, as well as the following abilities:
- Math skills – as this job involves carrying out tax assessments, handling bookkeeping tasks, and analyzing financial data, it’s vital that junior accountants have excellent math skills and knowledge of formulas and statistics
- Communication skills – this job involves working as part of a team, so applicants need to have strong communication skills
- Attention to detail – junior accountants need to pick up on errors in data and spot inaccuracies in records or information, so having a keen eye for details is valuable in this job
- Computer proficiency – junior accountants work with accounting software on a regular basis, so it’s important that they have strong computer knowledge to be able to pick up new programs quickly and stay up to date with the latest technology
- Self-motivated – junior accountants should be driven and motivated to work independently without constant monitoring from senior members of the team
Junior Accountant Education and Training
The minimum requirement to become a junior accountant is a bachelor’s degree in accounting, mathematics, or a related field. Applicants with knowledge and experience of computer-based accounting programs such as QuickBooks and PeachTree will have a competitive edge in the job market. Likewise, a background in tax assessment or banking is advantageous, but is not an essential requirement. Junior accountants should maintain their knowledge of best practices within the accounting sector, which may require gaining additional certifications to stay compliant with standards and regulations.
Junior Accountant Salary and Outlook
The median annual salary for junior accountants is nearly $43,000, according to PayScale. Junior accountants in the 10th percentile earn around $34,000 annually, while the highest paid earn close to $55,000 a year. The higher end of the pay scale includes bonuses of up to $4,000 and profit sharing opportunities of over $5,000. Over 60 percent of employers offer dental cover as part of their benefits package, and almost 75 percent provide medical cover. The Bureau of Labor Statistics predicts that the growth rate for this sector is expected to grow by 10 percent through 2026.
We’ve collected some of the best resources to help you learn more about becoming a junior accountant.
Financial Control – this group has a community of over 130,000 people, making it an ideal first stop for those looking to build their contact list and network with others in the industry. Junior accountants can learn from others working in accounting, stay up to date with the latest industry developments, and find out about new job opportunities.
Accountex Report – regularly updated with industry news and trends, this website is a great source of information. From emerging technologies to how to liaise with clients, it’s packed with helpful and informative advice.
Accountants’ Guidebook – updated for its third edition, this book simplifies the knowledge required by accountants to help them with various tasks, such as accounting procedures, payroll management, budgeting, collection tactics, reporting, and much more.
Accounting Principles – this book outlines the most important accounting information, from business growth to the financial challenges of growing a business. Accounting Principles covers a wide range of topics, such as payroll accounting, different accounting methods, budgeting, fraud and internal controls, and more.