The Role Of An Accountant In An Organization

Accounting is a profession that seems straightforward at a glance. I mean, it’s just crunching numbers, right? While financial data is a core part of accounting, there are other things involved. E.g. leveraging assets, managing budgets, achieving financial efficiencies, and maximizing investments are just some operations that accountants handle in an organization.

As a business owner, you need an accountant to handle the finances of your business. Initially, it might seem like it’s not necessary, especially when the business is small. However, as you continue expanding, There is so much you need to keep track of. You have your accounts payable, accounts receivable, sales figures, annual statements, payroll, projections, cash flow, and taxes, to name a few considerations. The hours can really add up, especially on the taxes. Here is where the accountant comes in.

Below we highlight some of the tasks that an accountant performs in an organization:

  • Examining bank statements and reconciling them with general ledger entries

  • Examining expenses submitted by employees

  • Keeping an eye on incoming payments from accounts receivable and outgoing payments from accounts payable

  • Creating company financial reports with the above information included

  • Analyzing data collected in order to determine the state of the company’s financial health