What is the accounting department doing in the bank

What exactly does an accountant do and what types are there?

Everyone is familiar with the job of an accountant. Due to digitization, however, some processes have changed in recent years. So what exactly is an accountant and what are his responsibilities?

What exactly is an accountant?

A Accountant is an employee in the companywho works in accounting. Since accounting is a broad term with many sub-categories and the term is not protected, training in the commercial sector is sufficient for this designation. Many accountants have a degree in economics or business administration.

With an apprenticeship, training to become an accountant often has to take a few months to a year to complete before you can work in the company's accounting department. The skills that an accountant must have as a prerequisite are the learned use of booking software, basic knowledge of labor, social security and wage tax law and a good feeling for dealing with numbers. It is also an advantage if the accountant has analytical skills and knowledge of foreign languages.

Likewise, one can become an accountant through advanced training programs - a well-respected management position in the company.

Which tasks are part of the job?

An accountant is responsible for the booking of all business transactions in a company. This includes a profit and loss account with all income and expenses as well as assets and liabilities, wages and salaries, the annual financial statements and, if necessary, interim reports such as half-yearly financial statements.

In addition, an accountant has to contact customers and employees from other departments in the event of complications and clarify them.

The annual financial statements are an important part of this, as they show how the company has developed financially. Depending on the company, a balance sheet is drawn up using the income and loss account or the profit and loss account.

The EÜR is only permitted for small businesses and the self-employed, while all other companies are subject to double-entry bookkeeping and must therefore prepare an income statement. The books of account are kept on this basis.

Accountants are therefore an important part of the company, as the results of their work form the basis for decisions within a company.

The term "financial accounting" is also often used for the profession of accountant.

What types are there?

As already mentioned, you can the term accountant again in different areas of responsibilitye subdivide the accounting.

The umbrella term financial accounting can be divided into accounts payable and accounts receivable. The accounts payable clerk takes care of the booking of all incoming invoices from the company's suppliers or service providers. There are also the accounts receivable clerks who take care of the outgoing invoices that still have to be paid by the company's customers.

In addition, there are the so-called payroll clerks. A payroll clerk takes care of the payment of wages and salaries to the employees and the timely and correct payment of all duties and taxes.

The so-called asset management deals with those assets of the company that are immaterial, such as real estate and machines.

Dunning and invoicing are used to automate processes and thus increase efficiency. There should be ready-made documents for certain processes so that, for example, in the event of late payment, an automatic reminder can be sent to the person concerned.

Who does an accountant work with?

An accountant should always be in close contact with all departments in the company in order to be aware of any changes.

A In this respect, accountants work together with the tax officethan submitting the completed documents to the tax office and being in contact with them in the event of problems or questions.

Tax advisors take on a large part of the accounting work and are therefore an alternative to bookkeepers. So if a company decides to entrust this work to a tax adviser, he or she takes on the most important tasks.

The accounting only needs to be prepared. This decision should be carefully considered, as an accounting department makes sense in many companies in order to guarantee a good traceability and flow of information within the company. In addition, a tax advisor can mean high costs.

How should a company arrange the accountants department?

The Structure of accounting in a company depends largely on the size of the company, the number of customers, the complexity of the processes and the number of business transactions. In small companies, there is often only one person responsible, while in larger companies several people are employed for individual areas of accounting.

In summary, an accountant takes over the accounting work. This means the booking of all business transactions in a company. The prerequisite for exercising this profession is an apprenticeship in a commercial profession or a degree in business administration or economics. There are different subdivisions, depending on the size of the company.

Many companies differentiate between accounts payable, accounts receivable and payroll clerks. The umbrella term for accounts payable and accounts receivable accountant is financial accountant. There is also asset management, dunning and invoicing.

The tasks of an accountant include the profit and loss account and the resulting balance sheet, wages and salaries, the annual financial statements and any interim reports. The annual financial statements are particularly important because they contain an overview of all costs and thus form the basis for decisions in the company.

It is essential that accountants are in constant contact with all departments in order to stay informed about changes, as these could be important for the accounting.

The structure of the accounting in a company depends primarily on the size of the company and the number of business transactions. A tax advisor is a good option for some companies, but it can be expensive and it is often beneficial to have a good overview of the numbers in-house.

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