“Every skill you acquire doubles your odds of success.”
Everyone needs a good accountant. Because of that, there are basic accounting skills that are essential across all companies and industries. If you have a knack for numbers, are analytical and like to see the inner workings of a company, a role in Accounting and Finance might be the right fit for you. Several positions are available in accounting—bookkeeper, accounting clerk, auditor, controller, and many more. Accounting knowledge is highly valuable and developing that skill set can lead to greater opportunities and more growth.
Here are the top accounting skills that anyone seeking an accounting position should have.
Of all the basic accounting skills, this one is possibly the most vital. At its core, accounting is parsing, analyzing and organizing data. Accountants need to pay close attention to every detail to ensure that all reports and financial statements are accurate. So when accountants receive receipts, invoices, reports and other documents from different departments, they have to enter and categorize them correctly within their system to produce balance sheets, income statements and reports that are free of errors.
This is one of the most important skills for accountants. Accountants must be strong problem-solvers and decision-makers. They must be able to analyze, interpret, and compare figures and data. This accounting skill is critical for all roles as accurate financial information will help indicate where a company is at and where it is going.
3. Highly Organized
While this is more a general quality than an accounting skill, being highly organized is definitely among the best skills for accountants. This includes being able to prioritize a wide array of different tasks and concentrate on different data from clients, operations and departments within the company. To do this, the accountant must have an efficient system that will help to keep track of all the portfolios that they have to manage, significant dates and deadlines, and transactions such as accounts receivable and payable.
4. Tech and System-Savvy
In the age of state-of-the-art cloud- and web-based systems, technical accounting skills have never been more important. Accounting professionals are expected to be well-versed in a variety of software and systems, as well as how to ensure the security and integrity of the information entrusted to them. Ideally, an accountant should be proficient in the use of advanced Excel functions and formulas. Having these accounting skills will definitely advance your career in this or related fields.
5. Strong Communicator
To make sure that accountants are able to connect with the clients and stakeholders, the ability to communicate clearly and strongly is a vitally important accounting skill. An accountant’s role may require communicating with clients and coworkers by email, phone, or in person. Also, accounting positions often involve making presentations to top management about the financial status of the company.
Aside from these top accounting skills, it will also help to develop soft skills to balance technical accounting skills so that accountants can provide well-rounded support to clients and stakeholders.
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