What is difference between associate accountant and account assistant?

Answer 1

I've been an accountant for the past 22 years and I've managed a $165 million federal government contract for all those years with 334 staff and approximately 1,200 independent contractors. Now I know folks will disagree with me..and that's okay. But in my experience, an "associate accountant" (AA) handles the most basic functions of accounting. They prepare bank deposit slips for cash receipts, stamp company endorsements on the back of checks, but their supervisor signs off on the deposit record (Report of Collection) and signs off when the deposit slip is returned from the bank as received for the same amount as deposited. An AA will match receiving documents with invoices and Purchase Orders. If a lower level staff member can accomplish that, the the AA will review and approve their work. The AA may also enter the invoice into the Accounts Payable module as long as there is a supervisor's review and approval before the invoice is paid. AAs may review and calculate payroll as to hours worked on a time sheet, calculate straight hours, over-time, night differentials, but typically under supervision prior to entry into the payroll module.

As a minimum, AAs have at least two years of college experience with an emphasis on Accounting, Finance or Business Administration, (although I lean towards Accounting). I hire 4 year graduates with the intention of teaching them the business.

An Account Assistant (Account Clerk) is generally a smart individual. Most times they do not have a college education or may be in the process of getting one. They can be relied upon to manage established systems such as matching receiving documents with Purchase Orders, handling Petty Cash under an AA's supervison, initial entry of invoices into an Accounts Payable module with supervision and general clerical duties such as accounts payable file maintenance and photocopying. Please do not discount the value of these individuals. In many instances, they are the core of many financial units. But they are the front line and supervisors should be readily available to answer questions and provide policy and direction.