Accounting Technology Tasks, Responsibilities, Outlook, and Advancement

Accounting skills are needed in every U.S. industry.

Persons who hold an associate degree in accounting technology are entry-level candidates for employment as accounts receivable/payable clerks, bookkeepers, collections specialists, and payroll specialists.

Accounts clerks and bookkeepers provide financial record-keeping services. They keep accounting records, including those used to calculate expenditures, receipts, accounts payable and receivable, and profit and loss. They bring a wide range of skills from maintaining a company’s financial books and general ledgers to specific accounting tasks.

Accounting and bookkeeping services represent a major occupation that normally offers plentiful job opportunities, even in a soft economy. Data from the Bureau of Labor Statistics projects steady growth in bookkeeping, accounting, and auditing professionals.

Career outlooks are brightest for those who have multiple accounting skills, as well as those with experience using various financial software packages.

Bookkeepers and accounts clerks advance through promotions that require them to assume additional duties for higher pay or through a lateral transfer. Those who have additional skills, experience, and training improve their advancement opportunities. With appropriate experience and education, some bookkeeping, accounting, and auditing clerks may become accountants or auditors.

In addition, they can take a test to earn a Certified Bookkeeper (CB) designation awarded by the American Institute of Professional Bookkeepers. Certified bookkeepers must complete a continuing education requirement every three years to maintain certification.

Collections specialists—also called bill and account collectors—work with people to pay past-due bills.  They work for third-party collections agencies or directly for the lenders as in-house collectors.

Collections specialists use computers to identify and track down debtors. Once they make contact with a debtor, they discuss repayment plans with debtors and create payment plans to which debtors can adhere. They can refer them to financial counselors as well to ensure debtors do not fall into further debt.

Collections specialists must have a solid understanding of the laws in the state where they are targeting their efforts, as well as Federal regulations on debt collection.

Today’s employers prefer collections specialists to hold at least an associate degree. This will become more important as the field is projected to grow faster than the average for all occupations. Growth is expected to be most significant in the healthcare industry.

Collectors with more experience usually see more success, which in turn increases their commissions. They are often given larger accounts that can earn them more money. Some become team leaders or supervisors.

Payroll specialists collect employee timesheets and payroll data to compile paychecks. Today, much of this is done electronically.

This is an excellent entry-level position for recent graduates. Turnover is high since good clerks are often promoted into other positions, thus opening new positions.

Persons who enjoy the position and wish to stay with it can get certification that says they can handle more complex technology, providing another avenue for advancement.

Anthem College Online offers an Associate of Science degree in Accounting Technology. If these types of jobs interest you, please visit our web site to learn more about this program, or call us at 1.866.837.1010.

Source: US Bureau of Labor Statistics