WHAT DOES AN ACCOUNTING ASSOCIATE DO?

Updated: Apr 17, 2026. The Accounting Associate supports accounts payable and receivable, reconciliations, financial reporting, and month-end close processes to ensure accurate and timely financial data. The role manages invoicing, expense processing, bank reconciliations, and compliance with internal controls while collaborating with vendors, clients, and internal teams. By maintaining financial accuracy, resolving discrepancies, and supporting audits and reporting, this position strengthens operational efficiency and informed business decision-making.

Key Responsibilities of an Accounting Associate

1. Accounting Associate Duties

  • Payroll Processing: Ensure accurate preparation and processing of weekly payroll, including per diem and manual adjustments.
  • Payroll Adjustments: Handle payroll adjustments, including shortages, garnishments, wage assignments, vacation pay, and bonus calculations.
  • Journal Entries: Record monthly journal entries and perform account reconciliations to ensure reporting accuracy.
  • Employee Support: Respond to employee inquiries regarding paychecks with a high degree of confidentiality.
  • Project Setup: Set up new jobs and projects in accounting software.
  • Record Maintenance: Maintain payroll records and ensure compliance with internal policies and procedures.
  • Data Review: Review payroll data for discrepancies and resolve issues in a timely manner.
  • Team Coordination: Coordinate with internal teams to ensure accurate payroll processing and reporting.
  • Period End Support: Support period-end activities related to payroll accounting and reconciliations.

2. Accounting Associate Details

  • Financial Closing: Support financial closing processes and ensure accurate financial statements and reports.
  • Report Preparation: Prepare financial reports and submit them to relevant government entities.
  • Transaction Accuracy: Ensure complete and accurate supporting information for all financial transactions.
  • Tax Reporting: Prepare statutory reporting on tax and GST.
  • Stakeholder Liaison: Liaise with auditors, solicitors, and bankers on financial matters.
  • Service Coordination: Work with the Shared Service Centre to ensure efficient processing of finance responsibilities.
  • Data Review: Review financial data for accuracy and resolve discrepancies.
  • Documentation Maintenance: Maintain documentation to support reporting and compliance requirements.
  • Process Improvement: Assist in improving financial processes and reporting efficiency.

3. Accounting Associate Responsibilities

  • Invoice Coding: Review and code accounts payable invoices to the correct accounts and departments.
  • Vendor Reconciliation: Reconcile accounts payable matters and contact vendors to resolve discrepancies.
  • Shipment Processing: Process bills of lading for customer shipments.
  • Inventory Control: Evaluate and improve inventory cycle count programs and related activities.
  • Month-End Close: Complete month-end tasks, including journal entries and intercompany reconciliations.
  • Financial Reporting: Prepare financial metric reports using systems and analyze results against budgets and forecasts.
  • Data Collection: Work with site personnel to gather data supporting spend and productivity analysis.
  • Cost Analysis: Communicate cost analysis results with clear conclusions for management decision-making.
  • Reporting Accuracy: Maintain accuracy and consistency in financial reporting and supporting documentation.

4. Accounting Associate Accountabilities

  • Payment Verification: Verify payments and deposits for accuracy and completeness.
  • Invoice Processing: Prepare payments, post invoices, and process staff expense reports.
  • Credit Management: Generate debit and credit notes and manage receipts and collections.
  • Journal Entries: Perform accounting journal entries in the system.
  • Bank Reconciliation: Prepare bank reconciliation reports and resolve discrepancies.
  • Monthly Reporting: Prepare monthly reports, including accounts payable, accounts receivable, inventory, and balance sheet schedules.
  • Corporate Reporting: Assist in corporate reporting, including cash, accounts receivable, credit, and sales reports.
  • Documentation Maintenance: Maintain supporting documentation for all financial transactions and reporting activities.
  • Data Accuracy: Ensure accuracy and timeliness of financial data across reporting processes.

5. Accounting Associate Functions

  • Expense Expertise: Serve as subject matter expert on expense entry processes.
  • Expense Review: Review expense reports and invoices for accuracy, completeness, and proper approvals.
  • System Processing: Process and import approved expense reports and invoice records into the financial system.
  • Status Monitoring: Monitor expense report status to ensure timely recording of project expenses.
  • Rent Invoicing: Prepare and submit monthly rent invoices to tenants.
  • Month-End Support: Assist with month-end close procedures and related tasks.
  • Deposit Handling: Prepare and submit check deposits and confirm receipt by the bank.
  • Receipt Recording: Record checks and electronic receipts in the financial system.
  • Cash Tracking: Maintain a log of unapplied cash receipts and investigate outstanding balances.
  • Administrative Support: Perform general administrative tasks in support of organizational operations.
  • Tax Form Processing: Process and distribute annual tax forms to vendors.
  • Check Follow Up: Review uncashed checks periodically and follow up.
  • Vendor Validation: Validate new vendor credentials and set up vendors in the financial system.
  • Vendor Maintenance: Maintain vendor records, including banking tax forms and contact information.
  • Discrepancy Investigation: Investigate discrepancies for unpaid invoices on reconciliation reports.

6. Accounting Associate Overview

  • Purchase Review: Review and verify purchase requests for accuracy against vendor confirmations and invoices.
  • Order Entry: Enter purchase order information into the accounting system accurately.
  • Discrepancy Resolution: Work with the Purchasing Department, accounts payable, and vendors to resolve discrepancies.
  • Invoice Review: Review vendor invoices for accuracy against purchase order information.
  • Invoice Entry: Enter invoice information into the accounting system accurately.
  • Vendor Coordination: Collaborate with the Purchasing Department and vendors to resolve invoice discrepancies.
  • Record Maintenance: Maintain accurate records of purchase orders and invoices for tracking purposes.
  • Documentation Consistency: Ensure consistency between purchase documentation and accounting system entries.
  • Communication Support: Support the resolution of discrepancies through effective communication with internal and external parties.

7. Accounting Associate Details and Accountabilities

  • Bank Reconciliation: Prepare weekly bank reconciliations and cash position reports.
  • Cash Recording: Record cash receipts in the general ledger.
  • Journal Support: Assist with journal entries and review monthly transactions.
  • Month-End Close: Perform and take responsibility for month-end closing procedures.
  • Client Follow Up: Follow up with clients on backup documentation requests.
  • Revenue Follow Up: Follow up with appropriate entities on outstanding revenues.
  • Financial Statements: Perform month-end close procedures and generate financial statements.
  • Journal Posting: Enter and post journal entries, including accruals.
  • Transaction Review: Review and code credit and debit card transactions.
  • Balance Sheet Support: Prepare balance sheet support schedules, including amortization and fixed assets.
  • Grant Reporting: Assist in preparing grant compliance and budget variance reports.
  • Client Support: Provide support to clients on banking, reporting, and accounting matters.
  • Inquiry Resolution: Assist in resolving inquiries from client agencies and auditors.
  • Audit Support: Support special projects and year-end audit schedule preparation.

8. Accounting Associate Tasks

  • Accounts Payable: Process accounts payable accurately and ensure timely payments while maximizing vendor discounts.
  • Grants Support: Assist the Grants team with reimbursement processing and coordinate research to resolve issues.
  • Compliance Control: Ensure compliance with internal fiscal control procedures during invoice entry and payment processing.
  • Discrepancy Resolution: Work with internal and external customers to resolve invoicing discrepancies.
  • Vendor Follow Up: Contact vendors regarding outstanding checks and coordinate void or reissue actions.
  • Audit Preparation: Assist with annual audit preparation by organizing documentation and coordinating with auditors and vendors.
  • Vendor Setup: Ensure vendor information is complete and accurately set up in the accounting system.
  • Document Tracking: Track and maintain required documents using systems for compliance and audit readiness.
  • Tax Compliance: Ensure tax forms are accurate and distributed on time.
  • Expense Support: Assist with expense reimbursement processing and related support tasks.

9. Accounting Associate Roles

  • Operations Reporting: Create operations reports and adhere to reporting deadlines.
  • Internal Control: Protect assets by establishing policies, procedures, and monitoring internal controls.
  • Audit Monitoring: Monitor financial condition by conducting audits and providing information to external auditors.
  • Cash Management: Maximize cash returns and limit risk through effective cash management and investments.
  • Financial Reporting: Provide financial status by collecting, interpreting, and reporting financial data.
  • Report Analysis: Prepare special reports by analyzing and summarizing information and trends.
  • Legal Compliance: Ensure compliance with legal requirements by monitoring regulations and filing financial reports.
  • Work Coordination: Complete operational requirements by scheduling, assigning, and following up on work.
  • Confidentiality Management: Protect operations by maintaining the confidentiality of financial information and plans.

10. Accounting Associate Additional Details

  • Invoice Processing: Process accounts payable invoices and check requests accurately.
  • Inventory Recording: Process inventory invoices and record them in the inventory system.
  • Card Reconciliation: Perform credit card reconciliations.
  • Lease Maintenance: Maintain lease schedules and related documentation.
  • Closing Support: Assist with monthly closing and prepare account analysis.
  • Ledger Closing: Assist with month-end and year-end general ledger closing.
  • Expense Validation: Validate employee expense reports for accuracy and compliance.
  • Postage Reconciliation: Perform postage activity reconciliations.
  • Tax Support: Support tax filing preparation and related activities.
  • Audit Support: Support annual financial statement audit processes.
  • Record Maintenance: Maintain accounting records by filing documents systematically.
  • Issue Resolution: Research, track, and resolve accounting issues.
  • Document Sorting: Compile and sort invoices and checks for processing.
  • Accounting Support: Support accounting personnel with daily tasks and operations.

11. Accounting Associate Essential Functions

  • ERP Processing: Process invoices in the Enterprise Resource Planning system.
  • Purchase Invoices: Process purchase invoices accurately.
  • Sales Invoices: Process sales invoices accurately.
  • Payment Monitoring: Monitor payments and follow up on outstanding balances.
  • Accounts Payable: Manage accounts payable transactions and records.
  • Accounts Receivable: Manage accounts receivable transactions and collections.
  • Card Posting: Post credit card transactions in the accounting system.
  • Invoice Posting: Post invoices related to credit card transactions.
  • Card Monitoring: Monitor credit card account transactions and resolve inquiries.
  • Customer Communication: Communicate with customers regarding accounts receivable transactions.
  • Supplier Communication: Communicate with suppliers regarding accounts payable transactions.
  • Office Administration: Perform general office tasks, including filing, mail handling, and shipment processing.

12. Accounting Associate Role Purpose

  • Administrative Support: Perform routine and moderately complex clerical, accounting, regulatory reporting, and financial functions.
  • Data Analysis: Analyze routine to moderately complex data and processes.
  • Issue Resolution: Troubleshoot issues and resolve operational problems.
  • Document Preparation: Prepare documents, spreadsheets, graphics, and presentation materials.
  • Process Coordination: Coordinate and administer activities and processes.
  • Communication Handling: Answer telephone calls and manage schedules and office communications.
  • Office Operations: Handle mail and operate office equipment.
  • Record Maintenance: Collect and maintain records, data, and manuals in accordance with procedures.
  • Policy Application: Apply knowledge of department operations using established policies and procedures.
  • Project Support: Participate in projects and support process improvement initiatives.

13. Accounting Associate General Responsibilities

  • Operational Efficiency: Ensure accounting and operational functions are performed efficiently in accordance with standard procedures.
  • Financial Support: Assist in processes to ensure accurate and timely financial statements.
  • Audit Support: Provide audit support for financial activities.
  • Ad Hoc Analysis: Prepare ad hoc analysis and reporting.
  • Compliance Execution: Execute and enforce applicable compliance standards.
  • Team Collaboration: Collaborate with the Finance team and department heads to meet reporting and budgeting needs.
  • Account Reconciliation: Perform and review debit and credit reconciliations and resolve variances.
  • Receivables Management: Create and review receivables and resolve discrepancies.
  • Budget Support: Assist in budgeting and projection processes, including variance analysis and action planning.

14. Accounting Associate Key Accountabilities

  • Team Supervision: Supervise the offshore team and review invoice coding and expense allocations.
  • Bank Reconciliation: Perform daily bank reconciliations and resolve unreconciled items promptly.
  • Treasury Management: Oversee treasury activities, including wire transfer processing and verification of bank instructions.
  • Expense Review: Review expense reports for proper documentation and compliance with policies.
  • Employee Support: Assist employees with inquiries related to expense reporting.
  • Aging Analysis: Analyze accounts payable aging reports and resolve outstanding items.
  • Account Analysis: Analyze and reconcile balance sheet and profit and loss accounts.
  • Project Execution: Complete ad hoc projects.
  • Process Accuracy: Ensure accuracy and consistency in financial processes and reporting.

15. Accounting Associate Roles and Details

  • Invoice Preparation: Prepare invoices and credit memos for parts and leveler orders across divisions.
  • Contract Invoicing: Invoice standard contract jobs across multiple operational departments.
  • Freight Claims: Invoice files and follow up on freight claims.
  • Shipment Billing: Approve drop shipment invoices and invoice customers for products.
  • Record Maintenance: File and maintain records and reports for accounting processes.
  • Team Collaboration: Partner with department members and Customer Service teams.
  • Freight Approval: Approve truck freight invoices and follow up on carrier discrepancies.
  • Freight Reconciliation: Reconcile freight accounts monthly.
  • Backup Support: Provide backup support for invoicing and job cost tasks.
  • Receivables Management: Manage accounts receivable collections and post payments.
  • Audit Support: Support year-end financial statement audits.
  • Project Support: Assist with special projects, including billing procedures and system implementation.
  • Regulatory Support: Support regulatory and internal examinations and respond to client inquiries.

16. Accounting Associate Responsibilities and Key Tasks

  • Client Servicing: Perform accounting and administrative servicing functions for Registered Broker-Dealer and Investment Advisers.
  • Billing Management: Prepare and send monthly invoices, respond to inquiries, and communicate billing information to clients.
  • Account Reconciliation: Prepare monthly accounting reconciliations.
  • Payable Oversight: Oversee accounts payable processing and allocate expenses to various clients.
  • Financial Statements: Assist in preparing monthly and annual financial statements.
  • Audit Support: Support annual audit processes.
  • Regulatory Filing: Assist with regulatory filings related to financial statements and communicate with regulators.
  • Director Support: Support Vigilant Directors in client servicing functions.
  • Compliance Testing: Assist Vigilant Directors in conducting compliance testing and reviews, and produce detailed reports.
  • Policy Review: Support Vigilant Directors in maintaining compliance requirements through policy and procedure review.
  • Compliance Tracking: Utilize compliance systems to track ongoing assessments of policies and procedures.
  • Provider Review: Assist Directors in reviewing service provider compliance policies and summarizing checklists.
  • Compliance Reporting: Support Directors in preparing quarterly and annual compliance reports.
  • Filing Coordination: Coordinate annual and periodic regulatory filings with Directors and Managers.

17. Accounting Associate Duties and Roles

  • Cash Handling: Receive customer cheques via mail, prepare and post bank deposits, and deposit cheques in the bank.
  • Account Monitoring: Monitor customer account details for non-payments, delayed payments, and irregularities.
  • Customer Communication: Communicate with customers and Sales Representatives via phone and email for overdue invoice follow-up.
  • Account Reconciliation: Perform customer account reconciliations and resolve discrepancies through investigation and adjustments.
  • Payment Processing: Process customer credit card and EDI payments.
  • Invoice Verification: Review and verify vendor invoices against purchase orders and process invoices for payment.
  • Vendor Reconciliation: Verify vendor accounts by reconciling statements and coordinating with vendors on discrepancies.
  • Expense Processing: Review and process employee and Sales Representative expense reports, ensuring compliance.
  • Cheque Processing: Prepare and perform cheque runs, ensuring appropriate payment terms.
  • Journal Entries: Post journal entries in the accounting system.
  • Tax Calculation: Compile input tax credit recapture amounts.
  • Record Maintenance: Maintain financial records by filing accounting documents.
  • Period End Support: Prioritize period-end reporting schedules and assist with accruals and closing procedures.
  • Internal Control: Assist with implementing and maintaining internal financial controls and procedures.

18. Accounting Associate Roles and Responsibilities

  • Invoice Management: Enter all invoices and make payments in accordance with agreed terms.
  • Discrepancy Resolution: Reconcile, investigate, and resolve all invoice claims and discrepancies.
  • Accounts Payable Administration: Accurate and efficient administration of accounts payable processes.
  • Payment Processing: Ensure monthly payment runs are completed on time.
  • Data Entry: Perform data entry, including purchase orders, accounts payable, and receivable.
  • Proactive Communication: Proactive communication and follow-up to efficiently resolve all queries with all stakeholders, internal and external.
  • Transaction Allocation: Daily allocation of bank transactions, invoices, and receipts.
  • Query Management: Follow through on all accounts payable-related queries with internal and external stakeholders.
  • Customer Support: Answer customer account queries via phone and ticketing system.
  • Policy Improvement: Maintain and improve the company's accounts policies and procedures.
  • Vendor Bill Management: Manage incoming bills from vendors.
  • Reconciliation: Execute credit card and bank account reconciliation.
  • System Automation: Assist in setting up accounting system automation.
  • Expense Management: Manage expense reimbursement reports.
  • General Ledger Assistance: Assist with general ledger accounting.

19. Accounting Associate Duties

  • Revenue Assurance: Ensure the revenue for the premium invoiced is according to the contract.
  • Transaction Documentation: Document the transactions, GWP, revenue, and COS commission from the partner level to the summary level.
  • Revenue Verification: Ensure the revenue summarized is according to accounting records.
  • Invoicing Accuracy: Ensure the amount invoiced by insurance is according to the revenue recorded.
  • Transaction Management: Manage the insurance payment control function.
  • Trade Payable Oversight: Ensure trade payable aging across the assigned industry.
  • Journal Entry Input: Input necessary accounting journal entries to reflect the revenue amount in the accounting system.
  • Closing Function Execution: Perform closing functions related to these two accounts.
  • Collaboration: Work closely with outsourced accountants, vendors, and other finance team members.
  • Operations Support: Assist with accounting and finance operations (Accounts Payable, Accounts Receivable, Procurement).
  • Data Capture: Help capture data for analysis and reporting.
  • Journal Entry Preparation: Prepare and post journal entries to properly record all activity.
  • Financial Statement Review: Prepare and review financial statements to verify account balances for accuracy and reasonableness.
  • Ledger Reconciliation: Prepare a detailed general ledger account reconciliation workbook to support the financial statements.
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