Finance Assistant Job Description: Top Duties and Qualifications

A Finance Assistant, or Finance Clerk helps handle a company’s day-to-day financial matters. Their duties include overseeing the company ledger, organising accounting documents and managing company payroll.

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Finance Assistant duties and responsibilities

Finance Assistants must be prepared to multi-task as they will be expected to work on multiple administrative projects at the same time. Some of their main responsibilities include:

  • Processing and paying invoices
  • Preparing and distributing checks to employees and vendors
  • Processing bank transfer requests
  • Completing and submitting tax returns, VAT returns and National Insurance contributions
  • Checking and updating ledger balances
  • Scanning, filing and logging account documents
  • Updating computerised accounting systems
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What does a Finance Assistant do?

A Finance Assistant helps with the general bookkeeping and accounting within an organisation. They are well versed with all administrative tasks associated with a finance department. They are responsible for overseeing and keeping appropriate documentation on payroll, bank transfers, National Insurance contributions, VAT returns and invoices. As this is an Assistant role, they may be asked to help out with various other tasks in the finance or accounting department. 

Finance Assistant skills and qualifications

A strong understanding of the basic financial principles that dominate the industry is essential for all applicants. A successful Finance Assistant candidate will also have various prerequisite skills and qualifications that typically include:

  • Thorough attention to detail
  • Excellent maths knowledge
  • The ability to use their own initiative
  • Customer service skills
  • Flexibility and open-mindedness
  • The ability to work in a fast-paced environment
  • The ability to work well with others
  • Understanding of how to use common industry software

Finance Assistant experience requirements

This can be listed as an entry-level position, requiring applicants to only have a university diploma or college course. College courses are usually certified by The Association of Accounting Technicians (AAT) and the Association of Chartered Certified Accountants (ACCA). If this is a mid-level position, employers may ask that applicants have some experience working in an accounting or finance department. All applicants must have experience working in an office. It’s also helpful to have an understanding of accounting software and spreadsheets. 

Finance Assistant education and training requirements

There are many routes an applicant might take towards becoming a Finance Assistant. Many employers prefer those who have attended university and received a diploma in a financial subject such as accounting or business studies. Some organisations only require applicants to have taken college courses that have been accredited by the Association of Accounting Technicians or the Association of Chartered Certified Accountants, such as a Level 2 Foundation Certificate course in Accounting. 

Some employers will accept several years of experience and training instead of formal education. This may include completing a higher apprenticeship as a Taxation Technician or perhaps spending a few years at a company, starting as an Accounts Clerk or Bookkeeper, and working their way up to Accounting Technician or Finance Assistant.

Finance Assistant salary expectations

According to Indeed Salaries, the average salary for a Finance Assistant  in the UK is £22,246 per year. Salary for this position is usually dependent on the company, location and experience.

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Finance Assistant job description FAQs

Who does a Finance Assistant report to?

This will depend on the size and hierarchy of a company, but generally a Finance Assistant reports to the Finance Manager. In a large company, a Finance Assistant may work in a specific department such as payroll or invoicing and report both to their direct Manager and the overall Head of the Finance Department. A Finance Assistant in a small company will only need to report to their direct Manager. In all companies, a Finance Assistant must be able to complete their work transparently, showing their work to Managers and Executives whenever necessary. 

How can I make my Finance Assistant job description stand out?

Focus on the competitive benefits that your organisation offers such as salary, pension scheme, flexible working and annual leave allowance. Explain how these benefits fit with your company culture and the type of environment an applicant will be working in. Mention any access to career development they will gain from working in your company. Many applicants may want to further their career in the finance hierarchy, and it’s beneficial to explain how your company can help them reach their potential. 

Do Finance Assistant's have different responsibilities in different industries?

Finance Assistants can be found in multiple industries such as healthcare, nonprofits and the government. The financial rules and procedures will vary in each industry, and this may result in a change in the types of tasks expected of a Finance Assistant. However, they will generally always be responsible for reporting and recording the daily financial activities within the company. 

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