Sample Job Description for an Accounts Clerk in a Law Firm
An accounts clerk records a law firm's operating transactions and works under the direction of a senior professional to prepare the firm's financial statements. This employee also ensures that accounting records are correct and that financial processes are adequate. An accounting clerk is an entry-level role; a specialist typically holds a two-year college degree in accounting or finance.
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Responsibilities
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An accounts clerk in a law firm may perform a variety of functions and work in different corporate departments. As a tax clerk, an employee may partner with senior tax accountants to review a firm's fiscal reporting mechanisms and detect ways to save on tax expenses and comply adequately with federal, state and local tax laws. An accounting clerk also could work in a financial accounting and reporting department. As an accounting clerk, this employee makes journal entries---account debits and credits---in accounting ledgers and ensures that financial data is "fair," complete and in compliance with generally accepted accounting principles (GAAP), industry standards and regulatory requirements ("fair" means "correct" or "objective" in accounting or finance terminology). Complete financial records include a balance sheet, a statement of profit and loss (P&L), a statement of cash flows and a statement of shareholders' equity. A clerk also could work under the direction of an audit professional to evaluate a firm's internal controls---procedures and policies---and recommend improvements to senior management.
Education/Training
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An accounts clerk working for a law firm usually holds a two-year or a four-year degree in accounting, finance, taxation or auditing. A clerk also may hold a liberal arts degree in psychology, law, literature or philosophy combined with on-the-job training. A clerk may attend training sessions, conferences and seminars every year to learn new accounting or legal principles.
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Salary
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An accounts clerk's salary depends on the size of the law firm, industry, the clerk's academic qualifications, length of service and experience. The U.S. Labor Department reports that median wages of law firm accounting clerks were $32,510, with the top 10 percent earning more than $49,260 and the bottom 10 percent earning less than $20,950, as of June 2010.
Career Development
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An accounts clerk may increase career growth opportunities by graduating from college with a bachelor's degree in accounting, taxation, auditing or finance. An employee with a master's or a doctorate degree typically doesn't perform clerk functions after graduation. A clerk may move to an accountant or a senior accountant role after three to five years.
Work Hours/Locations
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A law accounting clerk generally works on weekdays during regular working hours (i.e., 8 a.m. to 5 p.m.) but may remain at the office longer to aid in seasonal business processes. These processes could include month-end close procedures, quarterly Securities and Exchange (SEC) corporate filings and year-end Internal Revenue Service (IRS) tax reporting. This employee typically lives in a metropolitan area but may travel periodically to meet with clients or work with colleagues in other offices.
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References
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