Salaries of financial clerks vary considerably. The region of the country, size of the city, and type and size of the establishment all influence salary levels. Also, the level of expertise required and the complexity and uniqueness of a clerkŐs responsibilities may affect earnings. Some companies may offer higher salaries to those who are certified in their profession. Median hourly earnings of full-time financial clerks in 2002 were as follows:
| Procurement clerks | $14.23 |
| Payroll and timekeeping clerks | 13.94 |
| Bookkeeping, accounting, and auditing clerks | 13.16 |
| Bill and account collectors | 12.88 |
| Billing and posting clerks and machine operators | 12.55 |
| Gaming cage workers | 10.47 |
| Tellers | 9.81 |
In addition to earning their salaries, some bill and account collectors receive commissions or bonuses based on the number of cases they close.
Financial clerks keep track of money, recording all amounts coming into or leaving an organization. Their records are vital to an organizationŐs need to keep track of all revenues and expenses. While most financial clerks work in offices, maintaining and processing various accounting records, some deal directly with customers, taking in and paying out money. When bills are not paid on time, financial clerks must contact customers to find out why and attempt to resolve the problem. Other clerks keep track of a storeŐs inventory and order replacement stock when supplies are low. (Additional information about specific financial clerks appears in separate statements; see links below.)
Depending on their specific titles, these workers perform a wide variety of financial recordkeeping duties. Bill and account collectors notify customers with delinquent accounts in order to solicit payment. Billing and posting clerks and machine operators prepare bills and invoices. Bookkeeping, accounting, and auditing clerks maintain financial data in computer and paper files. Payroll and timekeeping clerks compute wages for payroll records and review employee timecards. Procurement clerks prepare purchase orders and monitor purchase requests. Tellers receive and pay out money for financial institutions, while gaming cage workers perform many of the same services for casinos.
The duties of financial clerks vary with the size of the firm. In a small business, a bookkeeper may handle all financial records and transactions, as well as payroll and billing duties. A large firm, by contrast, may employ specialized accounting, payroll, and billing clerks. In general, however, clerical staffs in firms of all sizes are increasingly performing a broader variety of tasks than in the past.
Another change in these occupations is the growing use of financial software to enter and manipulate data. Computer programs automatically perform calculations that previously were done manually. Computers also enable clerks to access data within files more quickly and even generate statements automatically. Nevertheless, most workers still keep backup paper records for research, auditing, and reference purposes, although a paperless office is increasingly the goal for many organizations.
Despite the growing use of automation, interaction with the public and with coworkers remains a basic part of the job for many financial clerks. Payroll clerks, for example, answer questions concerning employee benefits, tellers and gaming cage workers help customers with their financial needs, and procurement clerks often have to deal with an organizationŐs suppliers.
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Overall employment of financial clerks is expected to experience slower-than-average growth through 2012. Despite continued growth in the volume of business transactions, rising productivity stemming from the spread of office automation, as well as company downsizing, will adversely affect demand for financial clerks. Turnover in this large occupation, however, will provide the most job openings. As a result, opportunities for full-time and part-time employment should be plentiful as financial clerks transfer to other occupations or leave the labor force.
Many basic data-entry accounting and clerical jobs already have become heavily automated. Productivity has risen significantly, as workers increasingly are using personal computers instead of manual entry and time-consuming equipment such as typewriters, adding machines, and calculators. The growing use of barcode readers, point-of-sale terminals, automated teller machines, and optical scanners that record transactions reduces much of the data entry handled by financial clerks. In addition, the use of local area networks is facilitating electronic data interchange—the sending of data from computer to computer—thereby abolishing the need for clerks to reenter the data. To further eliminate duplicate functions, many large companies are consolidating their clerical operations in a central office where accounting, billing, personnel, and payroll functions are performed for all offices—main and satellite—within the organization. In addition, as more companies merge or are acquired, accounting departments are usually merged as well, reducing the number of financial clerks. More companies also are outsourcing their financial and accounting functions to specialized companies that can do the job more efficiently.
Despite the relatively slow growth of the occupation, some financial clerks will fare better than others. The number of bill collectors is expected to increase as timely payments become a more important goal of companies and more companies offer credit to customers. The health-care services industry is projected to hire more financial clerks—particularly billing clerks—to match the explosive growth of that sector and to process the large amounts of paperwork having to do with patient claims. Tellers also will be needed as banks expand their hours.
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Most financial clerks are required to have at least a high school diploma. However, having completed some college is becoming increasingly important, particularly for those occupations requiring knowledge of accounting. For occupations such as bookkeepers, accounting clerks, and Procurement clerks, an associateŐs degree in business or accounting often is required. Some financial clerks have bachelorŐs degrees in business, accounting, or liberal arts. Although a degree is rarely required, many graduates accept entry-level clerical positions to get into a particular company or to enter the finance or accounting field with the hope of being promoted to professional or managerial positions. Some companies have a set plan of advancement that tracks college graduates from entry-level clerical jobs into managerial positions. Workers with bachelorŐs degrees are likely to start at higher salaries and advance more easily than those without degrees.
Experience in a related job also is recommended for a number of these positions. For example, cash-handling experience is important for gaming cage workers and tellers, and telemarketing experience is useful for bill and account collectors. For other financial clerks, experience working in an office environment or in customer service is always beneficial. Regardless of the type of work, most employers prefer workers with good communication skills and who are computer literate; knowledge of word-processing and spreadsheet software is especially valuable.
gaming cage workers have additional requirements. They must be at least 21 years old and they are required to obtain a license by the State gaming commission or another regulatory body. In addition to a fee, applicants must provide a photograph and proof of age and residence. A background check is conducted to make sure that applicants do not have a criminal history.
Once hired, financial clerks usually receive on-the-job training. Under the guidance of a supervisor or some other senior worker, new employees learn company procedures. Some formal classroom training also may be necessary, such as training in specific computer software. Bill and account collectors generally receive training in telephone techniques, negotiation skills, and the laws governing the collection of debt. Financial clerks must be careful, orderly, and detail oriented in order to avoid making errors and to recognize errors made by others. These workers also should be discreet and trustworthy, because they frequently come in contact with confidential material. In addition, all financial clerks should have a strong aptitude for numbers.
Bookkeepers—particularly those who handle all the recordkeeping for companies—may find it beneficial to become certified. The "Certified BookkeeperÓ designation, awarded by the American Institute of Professional Bookkeepers, assures employers that individuals have the skills and knowledge required to carry out all the bookkeeping and accounting functions up through the adjusted trial balance, including payroll functions. For certification, candidates must have at least 2 years of bookkeeping experience, pass three tests, and adhere to a code of ethics. The American Payroll Association offers two certifications: the Fundamental Payroll Certification (FPC) and the Certified Payroll Professional (CPP). The FPC is mainly for beginning payroll workers and certifies that one has a basic knowledge of payroll issues. The CPP is meant for payroll professionals who are required to have several years of experience dealing with payroll issues before they can become certified. Either certification requires several courses and passing an examination. Tellers can prepare for better jobs by taking courses offered throughout the country by banking and financial institutes, colleges and universities, and private training institutions.
Financial clerks usually advance by taking on more duties in the same occupation for higher pay or by transferring to a closely related occupation. For example, procurement clerks with the appropriate experience often become buyers. Most companies fill office and administrative support supervisory and managerial positions by promoting individuals from within the organization, so financial clerks who acquire additional skills, experience, and training improve their advancement opportunities. With appropriate experience and education, some clerks may become accountants, human resource specialists, or buyers.
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Financial clerks enter data into a computer, handle cash, and keep track of business and other financial transactions. Higher level financial clerks can generate reports and analyze the data. Other occupations that perform these duties include brokerage clerks; cashiers; credit authorizers, checkers, and clerks; loan interviewers and clerks; new-accounts clerks; order clerks; and secretaries and administrative assistants.
For more information on financial clerks, see the statements on bill and account collectors; billing and posting clerks and machine operators; bookkeeping, accounting, and auditing clerks; gaming cage workers; payroll and timekeeping clerks; procurement clerks; and tellers, all following this statement on financial clerks.
While most financial clerks work in offices, maintaining and processing various accounting records, some deal directly with customers, taking in and paying out money. Payroll and timekeeping clerks compute wages for payroll records and review employee timecards. Computers also enable clerks to access data within files more quickly and even generate statements automatically. However, because most casinos are open 24 hours a day, gaming cage workers often work in shifts, including nights and weekends. For example, cash-handling experience is important for gaming cage workers and tellers, and telemarketing experience is useful for bill and account collectors.
Summary of: http://stats.bls.gov/oco/ocos142.htm
In smaller establishments, bookkeeping clerks handle all aspects of financial transactions. They may also prepare bank deposits by compiling data from cashiers, verifying and balancing receipts, and sending the cash, checks, or other forms of payment to the bank. In larger offices and accounting departments, accounting clerks are more specialized. Their title may reflect the type of accounting they do, such as accounts payable clerk or accounts receivable clerk. They post transactions in journals and on computer files, and update these files when needed.
Summary of: http://www.umsl.edu/services/govdocs/ooh9899/9.htm
Some work within business teams, measuring and recording expenditure and keeping track of budgets. Also known as bookkeepers, some specialise in one aspect of accounting, such as cashing up and banking, credit control, sales or purchase ledger, or payroll. Accounts/finance clerks usually work Monday to Friday, 9am to 5pm. Many are self-employed providing bookkeeping services to smaller organisations. No formal academic qualifications are required, although employers may ask for GCSE/S grades (A-C/1-3) in maths and English.
Summary of: http://www.connexions.gov.uk/jobs4u/summary.cfm?id=15
They update and maintain one or more accounting records, including those which tabulate expenditures, receipts, accounts payable and receivable, and profit and loss. They have a wide range of skills and knowledge from full-charge bookkeepers who can maintain an entire companyŐs books to accounting clerks who handle specific accounts. All of these clerks make numerous computations each day and increasingly must be comfortable using computers to calculate and record data. In small establishments, bookkeeping clerks handle all financial transactions and recordkeeping. Bookkeepers also prepare bank deposits by compiling data from cashiers, verifying and balancing receipts, and sending cash, checks, or other forms of payment to the bank.
Summary of: http://www.collegegrad.com/careers/admin08.shtml
In small establishments, bookkeeping clerks handle all aspects of financial transactions. They may also prepare bank deposits by compiling data from cashiers, verifying and balancing receipts, and sending cash, checks, or other forms of payment to the bank. In large offices and accounting departments, accounting clerks have more specialized tasks. Their titles often reflect the type of accounting they do, such as accounts payable clerk or accounts receivable clerk. They post transactions in journals and on computer files and update these files when needed.
Summary of: http://www.umsl.edu/services/govdocs/ooh20002001/61.htm
3 years of law firm exp. is ideal Good communication skills Ability to grow with a national firm Detail oriented Must like working with all levels of staff Good people skills Contact Ms. This person will process new hires, OT sheet and other payroll related materials. 3 years of payroll related experience would be ideal. Salary is commensurate with experience and the firm offers outstanding, vacation, benefits and bonus.
Summary of: http://www.filcro.com/page7.html
Their title may reflect the type of accounting they do. Entry-level accounting clerks enter the details of transactions, such as the amount of the check and the check number. Experienced workers may code documents and post transactions on the computer. They like jobs offering steady employment and good pay. They like to see the results of their work and to use their strongest abilities.
Summary of: http://www.iseek.org/sv/13000.jsp?id=100257
To account for military spending, exact financial records must be kept of these transactions. Finance and accounting specialists organize and keep track of financial records. Civilian Counterparts Civilian finance and accounting specialists work for all types of businesses and government agencies. They perform duties similar to military finance and accounting specialists. Civilian finance and accounting specialists are also called accounting clerks, audit clerks, bookkeepers, or payroll clerks.
Summary of: http://www.iseek.org/sv/12120.jsp?id=41
While the median Chief Corporate Financial Officer makes $100,533 per year, the highest-paid individuals reported in the group make well over $400,000 annually. tell a colleague, your manager, or your HR department about this Far to the other end of the income spectrum, junior account clerks have a median salary of $24,380. Usable survey data for over 2,000 individuals were received from 234 organizations in the business, industry, government, and non- profit fields. Size of Organization Number of employees is not a good predictor of overall income in the accounting/financial field. Supervising Auditors are paid best, followed by Supervising Accountants in accounts payable, payroll, and general accounting functions.
Summary of: http://www.abbott-langer.com/actgsumm.html
Bookkeepers also receive, record, bank and pay out cash. ACCOUNTING CLERKS calculate, post and verify basic financial information used to produce and maintain financial and statistical documents. AUDITING CLERKS review records to determine if the figures and calculations by other workers are accurate. Some also believe that because of computers and automation, there could be less need for these workers. Some employers have fringe benefits such as paid vacations and sick leave, life and health insurance, and bonuses.
Summary of: http://www.calmis.cahwnet.gov/file/occguide/CLERKACC.HTM