A Finance Clerk's Job Description
A finance clerk works under the leadership of a senior professional to record a corporation's transactions in accounting ledgers or journals. A finance clerk also may work in the tax department and ensure that a corporation files income data with fiscal authorities on time.
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Responsibilities
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A finance clerk may perform various duties, depending on staffing needs and corporate departmental structure. He may work under the guidance of an accountant and record corporate transactions via journal entries to asset, liability, expense or revenue accounts. Alternatively, he may help a tax accountant compute sales taxes due and ensure that fiscal authorities receive payments on time. A finance clerk also may perform basic auditing procedures such as reviewing sales or purchasing policies and guidelines.
Education and Training
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A finance clerk typically holds an associate's degree in accounting, business, auditing or taxation. A clerk who works for a small company may only need a high school diploma because transactions are not complex. However, a finance clerk working for a large organization often may need a bachelor's degree in accounting or finance. An employer sometimes can hire a liberal arts major and train her before she starts working.
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Salary
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A finance clerk's compensation generally depends on the company size, the industry and staffing needs. Individual factors, such as length of service, academic training or professional certifications, also can affect a finance clerk's pay. According to the Bureau of Labor Statistics, median annual wages of finance clerks were $32,510 in 2008, with the middle half of the occupation earning from $26,350 to $40,130. The same research shows that the top 10 percent of finance clerks earned more than $49,260 and the bottom 10 percent earned less than $20,950.
Career Development
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A finance clerk can improve his chances of promotion by enrolling in a college's four-year accounting, auditing or finance degree program and receiving a bachelor's degree. Alternatively, he may seek a master's degree in financial analysis. A professional certification, such as a certified public accountant (CPA) designation, is usually a major career booster. A competent and productive finance clerk may move to a senior role within two to four years.
Working Conditions
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A finance clerk has a standard 40-hour per week, 8 a.m. to 5 p.m. schedule. However, some situations may require a finance clerk to work late. These requirements may result from periodic business needs such as quarterly regulatory filings or monthly accounting processes. For example, a finance clerk may help corporate accountants file forms with the Securities and Exchange Commission (SEC) at the end of the quarter.
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References
- Photo Credit finance #3 image by Adam Borkowski from Fotolia.com
