How Much Does an Accounting Clerk Make?

The Accounting Clerk Role

An accounting clerk plays a support role within a business’s financial operations. This position involves handling day-to-day transactional accounting tasks that ensure financial records are accurate and up-to-date. Their work maintains the integrity of a company’s financial data.

The responsibilities of an accounting clerk often include processing accounts payable, which involves receiving, verifying, and reconciling invoices, as well as preparing payments to vendors. They also manage accounts receivable, which entails generating invoices, tracking customer payments, and following up on overdue accounts.

Beyond managing invoices and payments, accounting clerks assist with payroll processing. This can involve collecting timekeeping data, calculating wages, and preparing payroll reports. They also perform bank reconciliations, comparing company bank statements with internal financial records to identify and resolve discrepancies.

Maintaining organized financial records is another duty, often involving the accurate filing and archiving of documents like invoices, receipts, and payment records. Accounting clerks also support senior accounting staff by preparing various financial documents, reports, and schedules.

Factors Influencing Accounting Clerk Pay

Several elements contribute to variations in an accounting clerk’s compensation. One factor is the level of experience an individual possesses. Entry-level positions command lower salaries compared to roles requiring several years of experience in financial record-keeping and transaction processing.

Geographic location impacts earning potential due to differences in the cost of living and local market demand. Accounting clerks in major metropolitan areas with a higher cost of living generally receive higher salaries than those in rural or less expensive regions. The concentration of businesses and economic activity also influence competitive wage rates.

The industry in which an accounting clerk is employed also affects their pay. Salaries vary between sectors such as corporate finance, non-profit organizations, government agencies, or specialized industries like technology or healthcare. Larger companies often have more structured compensation packages and higher pay scales compared to smaller businesses.

An individual’s educational background and professional certifications also play a role in determining salary. While an associate’s degree in accounting or a related field is often sufficient, a bachelor’s degree can lead to higher earning potential. Obtaining certifications, such as a Certified Bookkeeper (CB) designation or becoming a QuickBooks ProAdvisor, demonstrates specialized knowledge and enhances market value. Proficiency in specific accounting software like SAP, Oracle, or advanced Excel skills, along with specialized knowledge in areas like sales tax compliance or general ledger maintenance, further contributes to increased earning capacity.

Average Accounting Clerk Salaries

The compensation for an accounting clerk varies across the United States, reflecting factors including experience, location, and specific duties. Nationally, the average annual salary for an accounting clerk typically falls within a range of $40,000 to $55,000. This average encompasses positions from entry-level to those with several years of experience.

For individuals just beginning their careers, annual salaries might start from $35,000 to $42,000. As an accounting clerk gains between one and three years of experience, their earning potential increases to $42,000 to $48,000 per year. Clerks with more than five years of experience can command higher salaries, frequently in the range of $48,000 to $58,000 annually, and sometimes exceeding this in high-demand markets.

Geographical differences present variations. In high cost-of-living areas, experienced accounting clerks might earn upwards of $60,000 or even $65,000 per year. In regions with a lower cost of living, average salaries may be closer to $38,000 to $45,000 for experienced professionals.

Company size also influences pay. A large enterprise might offer an experienced accounting clerk a salary of $55,000, while a small local business might offer $45,000 for a similar role. These figures represent base salaries and do not typically include potential benefits such as health insurance, retirement contributions, or paid time off.

Strategies to Increase Accounting Clerk Earnings

Accounting clerks can pursue strategies to enhance their earning potential. Furthering one’s education, such as pursuing a bachelor’s degree in accounting or finance, can open doors to higher-paying roles.

Obtaining professional certifications can boost marketability and salary. For instance, the Certified Bookkeeper (CB) designation demonstrates mastery of core bookkeeping functions. Becoming a QuickBooks Certified User or a QuickBooks ProAdvisor is also beneficial, as proficiency in widely used accounting software is an asset.

Developing specialized skills in specific areas of accounting can also lead to higher compensation. This includes proficiency in advanced features of spreadsheet software like Microsoft Excel, particularly in data analysis and financial modeling. Gaining expertise in niche areas such as accounts payable automation, complex payroll processing, or general ledger reconciliation can make an accounting clerk more valuable.

Improving negotiation skills is another step for increasing earnings. Researching typical salary ranges for similar roles provides a basis for salary discussions. Highlighting quantifiable achievements, such as process improvements that saved time or money, can strengthen a negotiation position.