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Staff Accountant

Staff Accountant

A staff accountant is a profession that helps keep an organization’s financial records in order. A staff accountant works directly with the company to maintain and improve their finances. The job requires training and education, such as earning an associate degree in accounting or a bachelor’s degree. Experienced accountants may become staff accountants after years of work.

The job of a staff accountant is to make sure an organization’s finances are put in order. This means they must take care of all the company’s financial records and data. They may also be tasked with making sure corporate income taxes and payroll taxes are filed properly. Staff accountants may work with an organization’s revenue and expenses to ensure that they are running smoothly. They will often keep the books straight for a company, such as keeping track of all their assets and liabilities.

Job NameStaff Accountant
Job CategoryBusiness
Skills requiredFinancial Reporting, MS Excel, General Ledger Reporting, Database Management & Reporting
Avg. Salary$51,887/year
Educational Qualifications requiredBachelor's Degree and Master's Degree
Popular EmployersEY, Enterprise Holdings, Moss Adams LLP, CliftonLarsenAllen

Staff Accountant Job Description

Staff accountants work in a variety of fields. Some examples include banks, insurance companies, and other organizations that require financial recordkeeping. The accountant’s job is to maintain the organization’s finances for a specific department or company as a whole. They do this by reviewing reports from other employees and making sure their figures are accurate. They also make sure the company’s finances follow certain policies, such as those related to accounting and auditing procedures.

Duties and responsibilities

A staff accountant’s main responsibility is to make sure that the company’s financial records are accurate and in good order. They do this by reviewing reports from employees, making corrections when necessary, or verifying information with other members of the team. In addition, a staff accountant maintains an organization’s policies and procedures related to accounting and auditing. This includes helping with the organization of records, maintaining spreadsheets that show financial information, running audits, checking transactions for accuracy, and producing reports based on this information.

A staff accountant has to perform these duties –

  1. Prepare and enter transactions into the accounting system
  2. Process journal entries to prepare financial statements, such as balance sheet or income statement for tax return preparation
  3. Maintain accounting ledgers and prepare trial balances from dual entry bookkeeping records
  4. Prepare financial reports according to company’s instructions
  5. Prepare accounts payable documents to ensure that all bills are paid
  6. Assist with the preparation of payroll, including processing checks and distributing reports to appropriate personne
  7. Maintain proper files for assets, liability, capital stock, income tax records and other relevant documentation
  8. Work with accountants to ensure that the company’s accounting system complies with generally accepted accounting principles
  9. Prepare projected budget and monitor actual expenditures
  10. Calculate, file and prepare tax returns such as payroll taxes, sales tax etc.
  11. Communicate effectively with internal and external clients, vendors and other internal departments
  12. Follow accounting software to ensure compliance with company policies.

How is an accountant different from a staff accountant?

The accounting profession is a broad one and includes many different areas of specialization. A staff accountant’s job description varies based on the organization they work for.

For example, an employee who works in banking will perform duties such as reviewing loan applications and making sure money transfers go smoothly between banks. Staff accountants who work in insurance companies will review claims, check the accuracy of insurance policies, and monitor company monetary funds. These accountants may also be assigned tasks such as preparing tax forms for employees or non-profit organizations.

The difference between staff accountants and other types of accountants is related to their level of experience. A staff accountant’s duties are more limited than an experienced accountant who is responsible for managing the finances of a private business or public corporation.

For example, a staff accountant working in banking may be assigned to work with only one type of loan. An experienced accountant would have more responsibility and could manage multiple loan types.

So, the duties & responsibilities of a staff accountant vary from that of an entry-level accountant who just started his/her career in the field. In contrast, an experienced accountant in any sector will have more authority, duties, and responsibilities than a staff accountant.

Education Qualifications & Skills Required

Becoming a staff accountant requires both education and professional experience. The exact requirements for each company will differ from one to the next, but in general, most companies require at least an associate degree or a bachelor’s degree in accounting.

Some companies will require auditing certification, which may take several years to complete. A master’s degree in accounting can also be helpful for people who want to work higher up in the firm.

For example, a staff accountant may become an accounting manager if they hold an MBA and prove their leadership skills.

The educational qualification for a staff accountant generally needs to include coursework in business, accounting, computer science, and math.

Some examples of courses that may be required for this profession include:

  • Communications – Staff accountants must communicate effectively with other employees and clients within the organization. This might mean dealing with sensitive confidential information, such as the company’s financial records. A staff accountant needs to be able to write and speak in a professional manner, but also create positive relationships with their coworkers.
  • Financial Accounting – This course will teach students about the principles of accounting, including bookkeeping and budgeting for organizations. Students may learn how to use accounting software or other computer programs to help companies track their finances.
  • Cost Accounting – This course helps students learn how to perform cost analysis for a company’s products and services. The accountant can then use this data to create optimal pricing strategies that will maximize the company’s profits.
  • Auditing – Auditors examine a company’s financial records to make sure they are accurate and according to the laws of accounting. The accountant will use this information for creating new policies and procedures regarding finances, as well as improving their existing systems.

What skills are required for staff accountants?

Having certain skills will help you get a staff accountant job in a reputed firm or company. Skills also help you in getting promoted with which you’ll be paid more than what you currently earn.

These are some skills you need –

  1. General Ledger Accounting: General Ledger Accounting is the process of recording transactions in accounts, which are later used for financial reporting. It’s a system that records all revenues and expenses to help you understand how much money your company has made or lost. For example, if your business charges customers $100 each month for their services then this transaction will be recorded in the general ledger. Then your company will deduct costs which are required to run it’s business, for example, you may have spent $30 each month on office supplies which would be deducted from the revenue. It is very important that these transactions are recorded correctly so that there isn’t an overlap or underlap of money.
  2. Accounting Software: The most common accounting software is QuickBooks, however more complex businesses may require something like SAP or Oracle. These are used to record transactions and print reports that can be supplied to clients or auditors of your company. This package allows you to create financial statements, invoices, payroll reports and much more.
  3. Analytical Skills: Staff accountants need to be able to analyse financial data, in order to ensure that it’s accurate. When conducting audits staff accountants look for transactions that don’t fit the usual pattern of spending or revenue. They also like looking at how many transactions are made each month or year to analyse the growth of the company.
  4. Audit Skills: Audits are conducted to ensure that your company is following all relevant regulations, for example, income tax regulation or environmental regulations. During audits staff accountants will make sure that you have enough evidence to support transactions and also verify records to make sure they are accurate.
  5. Microsoft Excel: Microsoft Excel is a very popular software that allows you to create spreadsheets. This will help you with your day-to-day tasks, such as creating invoices or calculating payroll. It also allows you to analyse data and draw conclusions based on the information presented in the spreadsheet.
  6. Computer Literacy: Staff accountants need to be able to use a computer. This is because staff accountants work with software such as QuickBooks and Excel, which require a high degree of computer literacy.
  7. Taxation: A staff accountant must have knowledge of tax laws in his/her state. He must know what records to keep and how to file them with the Internal Revenue Service (IRS) or other agency. He also should know about tax exemptions for certain types of companies, such as non-profit organizations that benefit the public. A staff accountant may have to prepare tax forms for the company on a regular basis.

Staff Accountant Salary

The average base salary of a Staff Accountant working in the US is $51,885/year which translates to around $21/hour. Entry-level staff accountants will get paid up to $38,000 per annum whereas the annual pay of an experienced staff accountant will be around $66,000.

How much do Staff accountants make?

The minimum hourly rate of a staff accountant is $15 in the United States whereas the maximum one can earn is $30/hr. Remember that these salary numbers are derived by taking into what thousands of staff accountants make in the U.S and don’t reflect the actual salary of any individual.

Staff Accountant salary by state

How much do Staff Accountants make per hour or week or month or year? Which is the best state to work as a staff accountant? All your questions are answered in this paytable below –

StateAvg. Salary of Staff Accountant
Alabama$43,835/year
Alaska$47,362/year
Arizona$56,191/year
Arkansas$41,531/year
California$56,924/year
Colorado$57,556/year
Connecticut$67,883/year
Delaware$54,963/year
Florida$42,304/year
Georgia$44,885/year
Hawaii$46,435/year
Idaho$52,973/year
Illinois$54,780/year
Indiana$55,347/year
Iowa$52,292/year
Kansas$55,785/year
Kentucky$50,347/year
Lousiana$44,472/year
Maine$55,591/year
Maryland$59,271/year
Massachusetts$61,662/year
Michigan$50,372/year
Minnesota$58,374/year
Mississippi$53,737/year
Missouri$51,082/year
Montana$51,178/year
Nebraska$56,207/year
Nevada$54,375/year
New Hampshire$58,248/year
New Jersey$56,656/year
New Mexico$56,678/year
New York$68,430/year
North Carolina$54,624/year
North Dakota$53,013/year
Ohio$51,157/year
Oklahoma$51,962/year
Oregon$56,920/year
Pennsylvania$47,121/year
Rhode Island$57,363/year
South Carolina$52,834/year
South Dakota$48,327/year
Tennessee$52,863/year
Texas$58,811/year
Utah$54,056/year
Vermont$55,583/year
Virginia$59,282/year
Washington$62,601/year
West Virginia$50,717/year
Wisconsin$56,029/year
Wyoming$49,567/year

Staff Accountant FAQs

What is the salary range for a staff accountant?

$38,000 to $66,000 per annum is the salary range for the staff accountant job in the U.S. However, this range varies with experience, skillset, company, and a lot more other factors. The salary of an entry-level Staff Accountant will be very low ($16/hour) compared to a staff accountant with 20+ years of experience ($32/hour).

Which state pays the most for Staff Accountants?

Washington state pays the most for Staff Accountants compared to all other states in the United States. States with high salaries for Staff Accountants include –
1. Washington
2. New York
3. California
4. Illinois
5. Massachusetts
These are the five states with great hourly wages for Staff Accountants in the U.S. Location is one of the biggest factors that have an impact on your salary.

Do staff accountants get bonuses?

If an accountant has done their job well, they may receive a bonus. For example, if the company’s profits increased while the staff accountant was working on it, then he or she may receive a nice bonus along with other employees. Usually, most companies offer a bonus anywhere between the $499 and $6,000 range.

How much does a staff accountant make at Deloitte?

A Staff Accountant at Deloitte makes an average salary of $52,851/year. The avg. base salary at Deloitte for Staff Accountants in 2021 is in the range of $49,000 and $55,000. Early-stage staff accountants at Deloitte are getting paid around $49k per annum whereas experienced accountants have an annual salary of about $55,000. The actual salary may vary with location & overall experience in the field.

What does a staff accountant at KPMG do?

A Staff Accountant at KPMG has to provide assurance services to clients, act as a financial adviser to the company, make sure KPMG is following tax-compliant practices, and also assess risk in matters like insurance & other financial things.

How much do KPMG staff accountants make?

KPMG staff accountants make anywhere between $45k and $60k. The average base salary that KPMG pays to its staff accountants is $52,751/year. The company provides medical, dental, and vision benefits to all its employees in addition to the wage.

How much does a staff accountant at EY make?

The average staff accountant salary at EY (Ernst & Young) is $57,026/year. The gross income of staff accountants at EY before taxes & any deductions will usually be in the range of $50k to $66k. The company also gives bonuses to its staff accountants which usually range between $983 and $8,000 on an annual basis.

What does a senior staff accountant do?

The duty of a senior staff accountant is to perform accounting tasks that need to be done on a regular basis. This can include anything from maintaining company financial records, balancing account books, and processing invoices. Senior staff accountants usually work closely with the chief financial officer (CFO) and other senior management members in order to ensure that all accounting needs are met.

Is Staff Accountant an entry-level job?

Yes, being a staff accountant is an entry-level job. A person with this position will typically work closely with senior accountants on tasks that need to be completed quickly and efficiently. These jobs are great for people who want to gain experience in the field of accounting but aren’t sure if they want to pursue it as a career.

Are staff accountants exempt or non-exempt?

Most staff accountants in the U.S are exempt. The California law allows professionals licensed by the government to work for a certain number of hours without being paid extra fees as overtime. These professionals include, but are not limited to: lawyers, doctors, dentists, and accountants. This means that these professionals can be allowed to work longer than what is considered legal in other professions. However, non-certified staff accountants who just do bookkeeping are non-exempt.

How to become a staff accountant?

To become a staff accountant –
1. A degree in accounting or a related field is usually necessary. Some companies may require a graduate degree, particularly for senior staff accountant jobs.
2. A staff accountant needs to obtain a license from the state in which he/she works. This will ensure that the person is qualified to perform accounting tasks for his/her employer.
3. Once an individual has obtained a license, he or she can move up into supervisory and managerial roles within their company’s accounting department.

How to apply for a staff accountant job?

To apply for a staff accountant job –
1. Check your company’s website for job postings, or contact the Human Resources department to determine if any jobs are available.
2. Complete an application form and submit it via email or in-person to the appropriate department head (Human Resources, Office Manager, etc.). If you don’t hear back from the company within a few weeks, follow up with an email or phone call to inquire about the status of your application.
3. Prepare for and pass any necessary tests (i.e., drug test, background check). If you are offered the job after taking these steps, you can start work shortly thereafter.

Is staff accountant a good job?

A staff accountant is a good job for someone who wants to get professional experience in the field of accounting. It’s also a great way to become familiar with different aspects within the field, without having to commit to one specific area.

What does an entry-level staff accountant do?

Entry-level staff accountants are responsible for doing accounting tasks that need to be completed on a regular basis. This can include anything from maintaining company financial records, balancing account books, and processing invoices. They may also have certain responsibilities such as making sales reports or reviewing bank statements for the company.

Can you be a staff accountant without a degree?

Yes, you can be a staff accountant without a degree. However, most companies will expect an applicant with this job title to have at least some experience in accounting. The majority of employers are also interested in candidates who possess an associate’s or bachelor’s degree in accounting. And moreover, you will not be eligible to take the CPA exam that gets you a certification in accounting & makes you a professional recognized by the government.

How to switch from staff accountant to financial analyst?

To switch from being a staff accountant to a financial analyst, you will need to have some experience in the field relating to Net Present Value (NPV), 3-statement financial modeling, and also forecasting methodologies. You should also possess an associate’s or bachelor’s degree in accounting, as well as good communication skills. This way, you can easily showcase your knowledge and skill set during your interview, and prove that you are a good fit for the position.

What is the role of a staff accountant?

Staff Accountants play an important role in the accounting department of a company. They provide assistance to internal or external clients, perform data entry and create financial records for various departments within the business.

Why work as a staff accountant?

Staff accountants may have a variety of career opportunities in the future. They can move up to supervisory positions or even become chief financial officers (CFOs) of a company. Staff accountants who work at large companies usually receive good benefits, including health care and paid leave. In addition, staff accountants may have the opportunity to travel and move to a different state or country. So, becoming a staff accountant can be a rewarding career choice, as staff accountants can work at many different types of companies and in various locations.