What is a Senior Accountant? What does a Senior Accountant do?
According to wallstreetmojo.com, a Senior Accountant is a person who is responsible for reporting costs, expenditure, profitability, margins, etc., and performs the lead accounting role in the organization. Senior accountant duties are more than those of a junior accountant, who gathers data, prepares journal entries, and populates balance sheets, and less than those of an administrative person, who participates in decision making, new product launches, and changes in management.
The senior accountant position is a vital one. Senior accountants are involved in all accounting aspects of an organization, as well as producing reports that show the company’s cost-efficiency, productivity, revenue, expenditures, and more. The primary responsibilities of a senior accountant fall under the heading of ensuring that an organization is financially in order, running efficiently and in compliance with best practices, rules and regulations.
Senior Accountant Duties
Senior Accountant duties include reconciling account balances and bank statements. They should be able to prepare, analyze, and interpret error-free financial records to aid in the organization’s budgeting and financial forecasts. Senior Accountant roles and responsibilities are also to ensure the accuracy and efficiency of all accounting tasks while managing junior team members. Finally, the ideal candidate should be able to combine excellent analytical skills with a thorough knowledge of accounting principles and provide suggestions to improve the organization’s accounting processes and systems.
Key Responsibilities of a Senior Accountant
The Senior Accountant is expected to maintain the company’s books and records, producing reports such as balance sheets, profit and loss statements, tax liability statements, as well as performing other functions:
- Maintenance of all other financial activities of the organization.
- Preparation of budgets and audit errors, for variance analysis.
- Maintenance of general ledgers as required by the organization.
- Generate and analyze financial records and data for the organization.
- Interpret financial records and suggest ways to improve accounting processes and avoid possible errors.
How to Become a Senior Accountant
- Senior Accountant duties require the person to possess knowledge of both mathematics and accounting, especially the use of accounting software.
- Someone in the Senior Accountant position must pay close attention to details and be able to spot any missing or incorrect data in the records.
- In most instances, companies require Senior Accountants to have a master’s degree. Additionally, having the proper certifications are a plus.
- For those with a bachelor’s degree, an equivalent amount of on-the-job accounting experience can help them become a Senior Accountant.
- Lastly, part of Senior Accountant roles and responsibilities is to exhibit strong leadership in order to guide junior team members and be able to communicate with top-level colleagues in the organization.
Average Salary for a Senior Accountant Position
According to Payscale.com, the average 2022 salary of a Senior Accountant is $70,084 annually. This will of course vary by company, depending on experience, as well as compensation and benefits packages.
If you’re in finance or accounting and thinking of a change, we would love to talk to you about a Senior Accountant position! Check us out at www.seattlefinancial.com for current openings, or give us a call 206-343-8732.