A general ledger accountant is responsible for most basic accounting functions of an organization – and some complex ones too.
These people are a step above accounting clerks in hierarchy – an accounting clerk who has had some experience working in this capacity, and can now manage the work at a slightly higher level, is usually hired at this position.
The work of a general ledger accountant is somewhat complicated, as even the most simple of entries are prone to discrepancies.
In order to be considered for general ledger accountant position, you have to possess a high school diploma. But if you have an accounting degree, you will be considered a good option to hire. But educational background is not the only thing that one has to possess when hoping to work as a general ledger accountant. Apart from this, it is imperative to possess some personality traits such as great analytic skills, and the ability to manage several tasks at the same time. Moreover, it is important for general ledger accountants to be exceptionally well-versed in handling complex accounting entries, along with the ability to manage discrepancies as and when they occur.
Working as a general ledger accountant is no walk in the park. However, you can do justice to it if you are analytic of mind. Here is a list of duties that you will be performing in the role of a general ledger accountant:
• Maintain accurate accounting records and entries, according to specified protocols.
• Review detailed ledger transactions, and historical activities, to ensure accurate reporting.
• Analyze complex accounting transactions, and prepare correlating journal entries.
• Create and maintain consolidated entries to accurately reflect the organization’s financial position and situation.
• Handle reconciliation of intercompany payables and receivables, and research and correct discrepancies before they make a negative impact.
• Review transactions to ensure that proper classifications of capital and operational expenditures are managed.
• Maintain records of liabilities and fixed assets, and prepare tax forms, on an annual basis.
• Prepare and administer accounts receivable transactions, such as preparing invoices, and entering receipts of payments into the system.
• Review newly executed contracts to validate that financial systems are properly and accurately updated.
• Prepare monthly balance sheet reconciliation of outlined asset and liability accounts.
• Analyze various general ledger accounts and reconcile deferred revenue, and prepaid accounts.
• Complete daily deposits, and create daily sales entries, along with creating periodic sales entries.
• Assist in the preparation of annual budgets, through analysis of accounts, and reports compilation.