Finance Assistant Job Description

A Finance Assistant provides crucial support to the finance department of an organization, assisting with a wide range of financial tasks and ensuring the smooth operation of financial processes. This role is typically entry-level or junior, offering an excellent opportunity to gain experience in accounting and finance.

Key Responsibilities

• Processing Invoices and Payments: Accurately processing invoices for payment, verifying coding and approvals, and ensuring timely payments to vendors. This includes managing accounts payable records and resolving any discrepancies.
• Managing Accounts Receivable: Generating invoices and statements for customers, tracking payments, and following up on overdue accounts. This may involve communicating with customers regarding billing inquiries.
• Bank Reconciliations: Reconciling bank statements with internal accounting records to identify and resolve any discrepancies, ensuring accurate cash management.
• Data Entry and Record Keeping: Entering financial data into accounting systems with precision, maintaining organized and up-to-date financial records, and ensuring data integrity.
• Assisting with Month-End Closing: Supporting the month-end closing process by preparing journal entries, assisting with reconciliations, and providing supporting documentation as needed.
• Preparing Financial Reports: Assisting in the preparation of basic financial reports, such as balance sheets, income statements, and cash flow statements, under the supervision of senior finance staff.
• Expense Reporting: Processing employee expense reports, ensuring compliance with company policies, and reconciling expense reports with supporting documentation.
• Budget Support: Assisting with the budget preparation process by collecting data, preparing spreadsheets, and providing support to budget managers.
• Maintaining Financial Files: Organizing and maintaining financial files and records, ensuring compliance with record retention policies and making information readily accessible.
• Responding to Inquiries: Responding to inquiries from internal and external stakeholders regarding financial matters, providing accurate and timely information.
• General Administrative Support: Providing general administrative support to the finance department, including answering phones, handling mail, and ordering office supplies.

Required Skills and Qualifications

• Education: A high school diploma or equivalent is typically required. An associate’s or bachelor’s degree in accounting, finance, or a related field is often preferred.
• Experience: Prior experience in a finance or accounting role is a plus, but not always required. Entry-level positions are common.
• Technical Skills: Proficiency in Microsoft Office Suite, particularly Excel, is essential. Experience with accounting software such as QuickBooks, SAP, or Oracle is highly desirable.
• Attention to Detail: Meticulous attention to detail is crucial for ensuring accuracy in data entry and financial reporting.
• Organizational Skills: Strong organizational skills are necessary for managing financial records and maintaining an efficient workflow.
• Communication Skills: Effective written and verbal communication skills are important for interacting with colleagues, vendors, and customers.
• Problem-Solving Skills: The ability to identify and resolve discrepancies or issues that arise in financial transactions.
• Teamwork: The ability to work effectively as part of a team and collaborate with colleagues.

Career Progression

With experience and further education, a Finance Assistant can progress to roles such as Accountant, Senior Accountant, or Finance Analyst. Opportunities may also exist to specialize in areas such as accounts payable, accounts receivable, or financial reporting.