In Summary - Accounting Technician
Accounting Technicians typically work in the following Career Sectors:
Videos & Interviews
Sophie Ellis, Accounting Technician Apprentice
Sophie Ellis is in her first year of the Accounting Technician Apprenticeship programme. Sophie chose to take this route to gain her qualification as it focuses on the practical side of the job and allows her to emmerse herself in real life situations in the workplace.
Videos on the Web
- Accounting Technician- from: Youtube Search
- Accounting Technician - from: YouTube Video
The Work - Accounting Technician
Accounting Technicians are qualified accounting professionals employed throughout all levels of finance. They perform a wide range of roles including:
- Financial Accounting & Budgeting
- Costing & Credit Control
- Payroll Administration
- Tax Returns
They are involved in the day-to-day practical work of accountancy, including the preparation of information and accounts and the interpretation of computer information.
Qualified Accounting Technicians work for many types of organisation including:
- Accounting Practice Firms
- Financial Services and Broader Industry
- Accounting function in in SME and large organisations
- Public Sector organisations
- Sole Traders
They may also be self-employed.
An Accounting Technician is not a qualified accountant. Young men and women who qualify as Accounting Technicians should be seen as persons who provide support services for management in their organisations. If they wish to, and have the ability to do so, they may progress to professional status and in due course become members of one of the senior accounting bodies.
Accounts maintenance is a fundamental element of any business, from a sole trader to large multinational. An Accounting Technician can support all elements of the accounts function, including income and expenditure, balance sheet transactions, statutory returns and payroll requirements.
The Accounting Technician is concerned with bookkeeping, including processing all accounts payable and receivable which supports the preparation of periodic accounts. This entails recording and monitoring income and expenditure including accrued and deferred income.
Completion of regular bank reconciliations may be required with statutory returns accounted for and completed. Regular analysis and reporting is undertaken to contribute to the overall accounts production.
The Accounting Technician may produce Management Accounts and supplies vital financial information as to the running of the Company. They have the ability to do costing and cost controls.
The Accounting Technician may prepare Company annual budgets and monitor the progress of this throughout the year. They may prepare or assist in the preparation of Company year-end financial statements.
On successful completion, the Accounting Technician will perform:
- Financial Accounting Fundamentals
- Double-Entry Bookkeeping and Accounting Systems
- Regulatory Requirements
- Financial Statements preparation
- Annual Budgets
- Cost control
- Costings across a range of goods and services
- Business Functions & Context
- Business Ethics
- Legal Requirements
- Company Law
- Data Protection
- Corporate Governance
- Company Tax Administration and Procedures
- Personal Taxation
- Accounting Systems
Most commonly reported Work Tasks
- Prepare, examine, or analyze accounting records, financial statements, or other financial reports to assess accuracy, completeness, and conformance to reporting and procedural standards.
- Report to management regarding the finances of establishment.
- Establish tables of accounts and assign entries to proper accounts.
- Develop, implement, modify, and document recordkeeping and accounting systems, making use of current computer technology.
- Compute taxes owed and prepare tax returns, ensuring compliance with payment, reporting or other tax requirements.
- Maintain or examine the records of government agencies.
- Advise clients in areas such as compensation, employee health care benefits, the design of accounting or data processing systems, or long-range tax or estate plans.
- Develop, maintain, and analyze budgets, preparing periodic reports that compare budgeted costs to actual costs.
- Provide internal and external auditing services for businesses or individuals.
- Analyze business operations, trends, costs, revenues, financial commitments, and obligations, to project future revenues and expenses or to provide advice.
Most commonly reported Work Activities
- Interacting With Computers Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
- Processing Information Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
- Getting Information Observing, receiving, and otherwise obtaining information from all relevant sources.
- Evaluating Information to Determine Compliance with Standards Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
- Organizing, Planning, and Prioritizing Work Developing specific goals and plans to prioritize, organize, and accomplish your work.
- Analyzing Data or Information Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Communicating with Supervisors, Peers, or Subordinates Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
- Updating and Using Relevant Knowledge Keeping up-to-date technically and applying new knowledge to your job.
- Making Decisions and Solving Problems Analyzing information and evaluating results to choose the best solution and solve problems.
- Establishing and Maintaining Interpersonal Relationships Developing constructive and cooperative working relationships with others, and maintaining them over time.
Interests - Accounting Technician
This occupation is typically suited for people with the following Career Interests:
Administrative people are interested in work that offers security and a sense of being part of a larger process. They may be at their most productive under supervisors who give clear guidelines and while performing routine tasks in a methodical and reliable way.
They tend to enjoy clerical and most forms of office work, where they perform essential administrative duties. They often form the backbone of large and small organisations alike. They may enjoy being in charge of office filing systems, and using computers and other office equipment to keep things running smoothly. They usually like routine work hours and prefer comfortable indoor workplaces.
Enterprising people like situations that involve using resources for personal or corporate economic gain. Such people may have an opportunistic frame of mind, and are drawn to commerce, trade and making deals. Some pursue sales and marketing occupations. Many will eventually end up owning their own business, or in management roles in larger organisations. They tend to be very goal-oriented and work best when focused on a target. Some have an entrepreneurial inclination.
As an accounting technician you must work accurately and methodically with figures. You must also be capable of compiling and analysing information. This includes writing reports.
Experienced technicians are expected to show initiative and may be in charge of a team of junior technicians and clerical staff.
- Process Accounts Receivable and Payable, Sales, Purchases and nominal ledger administration.
- Maintenance of bookkeeping records o Account for Accruals and Prepayments
- Support the budget preparation process
- Support the preparation of accounts
- Analysis of monthly expenses, credit cards, Vat analysis
- Ensure timely and accurate completion of statutory obligations
- Complete bank reconciliations
- Analyse and interrogate data and provide a high level overview
- Produce reports
- Credit control
- Responsibility for petty cash
- Tax - Completion & filing of VAT Returns. Deal with Revenue queries.
- Payroll - Setup of new staff, Issuing P45s, Completing Social Welfare Forms, Processing monthly payroll, Preparing payroll Journals.
- Audit - Support the preparation for the annual audit o Computer skills - Including MS Excel, Word and PowerPoint. Knowledge of accounting software including Sage/Relate Accounts Production
- Operates with a high level of integrity, diplomacy, tact and professionalism
- Strong interpersonal and communication skills, both written and orally
- Report Writing
- Customer Service Skills, helpful and approachable o Strong organisational skills, with ability to manage multiple tasks and resources.
- Time management including prioritising schedules and timelines o Attention to detail and problem solving
- Ability to work as part of a team and on their own initiative.
- Maths, Accounting, English, Computer skills
- Professional competence and due care
- Professional behaviour
- Attention to detail
- Strong communicator
- Ability to multi task
- Ability to cope under pressure
- Strong numeracy skills
Entry Requirements - Accounting Technician
The official entry route for a Accounting Technician is through undertaking an apprenticeship.
Accounting Technicians are qualified accounting professionals and as such must complete a professional qualification.
The Diploma for Accounting Technicians consists of two elements, which can be completed simultaneously or at different stages:
- Two year programme of study
- Two year work based learning
To gain entry to the qualification students who are under 21 must meet certain academic requirements in their Leaving Certificate, though these requirements are less restrictive than most third level courses. For those 21 or over, they can gain entry as a mature student and are not required to provide any academic qualifications.
Accounting Technicians Ireland courses are available at over 70 colleges throughout the Republic of Ireland and Northern Ireland. These currently include ETBs and Institutes of Technology, and leading private and community colleges. Programmes are also delivered in the Republic of Ireland through SOLAS in a number of their training centres.
In addition to passing exams, students must also have two years relevant work experience to complete the qualification. Work experience requirements are based on two years full-time employment (or the equivalent part-time) and can be gained at any time from before, during or after you have completed your exams.
The Diploma for Accounting Technicians is fully approved as a Level 6/7 on the National Framework of Qualifications in Ireland. This equates to a Level 5 on the Qualifications and Credit Framework (QCF) in England, Wales and Northern Ireland.
The relevant professional bodies are:
- Chartered Accountants Ireland (CAI)
- Chartered Institute of Management Accountants (CIMI)
- The Association of Chartered Certified Accountants (ACCA)
- Institute of Certified Public Accountants in Ireland (CPA)
- Accounting Technicians Ireland (ATI)
To register with one of these bodies you must meet their minimum educational requirements. If you exceed the minimum entry requirements you may be exempted from certain professional accountancy exams.
A New Apprenticeship route to becoming an Accounting Technician is available from September 2016.
Last Updated: March, 2015
Pay & Salary - Accounting Technician
Salary Range (thousands per year)* 22k - 35k
Sigmar / Abrivia
Last Updated: February, 2017
* The lower figures typically reflect starting salaries. Higher salaries are awarded to those with greater experience and responsibility. Positions in Dublin sometimes command higher salaries.