What Are the Job Duties of an Account Reconciler?
Many entry-level accountants enter the field as an account reconciler. For smaller companies, one account reconciler will reconcile all of the company's accounts, but in larger companies the responsibility is usually broken up by the type of account. Often, these positions are listed as bookkeeping or staff accountant jobs, but whatever the name in the job description -- the job duties remain the same.
The payroll reconciler is responsible for ensuring that accounting for payroll is correct and is completed in a timely manner. While the specifics of this position vary by the size and nature of the company, payroll reconcilers may calculate sales commissions, ensure that funds are transferred to payroll bank accounts, balance payroll accounts or process raises and incentive pay. Payroll reconcilers must be able to process sensitive information and protect the privacy of employees.
Cash reconcilers are responsible for the cash accounting of a business. This position may require employees to process bank deposits, withdraw cash for petty cash operations, prepare bank reconciliations, and monitor cash reserves. Cash reconcilers must operate with the utmost honesty and care, as they are being entrusted with the company's cash. For this reason, many companies will not hire a cash reconciler with any history of past theft or embezzlement.
Fixed Assets Reconciler
Also known as a fixed assets accountant, fixed asset reconcilers are responsible for ensuring that the company is properly depreciating fixed assets. On a monthly basis, this employee will determine if assets have been bought and sold and record the monthly amounts of depreciation for each asset or class of assets. In companies that keep separate sets of accounting records for tax and for external accounting, this position can be complicated. To be a successful fixed asset reconciler, an accountant must be detail-oriented and able to closely follow depreciation policies.
A company's revenue accounting staff is responsible for ensuring that the company books the correct amount of revenue each month and that deferred revenue balances are recorded accurately. This position varies greatly by company. For companies that have relatively simple revenue accounting, revenue accountants may simply be performing checks to see that accounting systems are correctly processing transactions. However, in companies that have complex revenue transactions, such as long-term contracts or software sales, this position quickly becomes more complex.
John Freedman's articles specialize in management and financial responsibility. He is a certified public accountant, graduated summa cum laude with a Bachelor of Arts in business administration and has been writing since 1998. His career includes public company auditing and work with the campus recruiting team for his alma mater.