what is a part-qualified accountant?
As a part-qualified accountant, you work alongside senior accountants and finance professionals to prepare accounts for businesses. You prepare the financial statements for companies, partnerships and sole traders. Aside from preparing financial records, you complete basic tax compliance work.
You can improve your skills and become a controller when working under a certified accountant's supervision. Since you work with various company stakeholders, you require business acumen to understand the company’s operations. Aside from preparing weekly, monthly and annual financial reports, you also make statutory reports. Your job is to ensure the company is tax compliant. That means you file the company's tax returns and the right taxes associated with the payroll. The role requires attentiveness to details to avoid making mistakes in the financial data. You require a good attitude to professional development to learn new accounting principles continually.
Would working as a part-qualified accountant suit your numerical skills? Then read on to find out what competencies and qualifications you need to thrive in a part-qualified accountant role.
find job vacanciesaverage part-qualified accountant salary
According to ONS, the average salary of a part-qualified accountant is £31,000 per year. When you join the field and have minimal experience, your earnings start at £27,500 yearly. As you improve your skills and experience, your earnings increase to over £40,000 annually.
how to increase your salary as a part-qualified accountant
As a part-qualified accountant, your compensation package depends on your experience. Since it is an entry-level role, you don’t require any experience to start working, but having prior experience in accounting gives you an added advantage. When you have some experience, you are likely to earn more than part-qualified accountants without experience.
The company you work for and your duties also influence your earnings as a part-qualified accountant. When you work for a big organisation, you perform complex tasks depending on the department. In a small start-up, a part-qualified accountant does bookkeeping and other clerical tasks. Multinational companies also have unlimited resources and higher salary scales based on the complexity of the role.
The location of the company can also influence your earnings. When you work in a large city, you are likely to earn more due to the high demand for part-qualified accountants to assist with accounting work.
types of part-qualified accountants
As a part-qualified accountant, you can fill in the following positions in the company:
- assistant accountant: as a part-qualified accountant, you take on ad hoc duties to assist other accountants in the company. For instance, you provide financial information to clients, like preparing invoices and handling budgetary issues. You also prepare monthly and annual reports to keep the financial statements up-to-date.
- payroll administrator: as a part-qualified accountant, you can be assigned duties in human resources. As a payroll administrator, you use your knowledge to prepare monthly payroll and tax returns. You also ensure the statutory deductions are in order and the company complies with various regulations.
- management accountant: as a part-qualified accountant, you assist the management accountant in preparing financial reports. You analyse accruals and prepayments and make balance sheet reconciliations. You also analyse the monthly revenue and expenses and ensure any balances are paid to suppliers.
working as a part-qualified accountant
If you want to work as a part-qualified assistant, check out the role's duties, responsibilities and work environments.
-
part-qualified accountant job description
Some of the duties of a part-qualified accountant include the following:
- completing tax returns: as a part-qualified accountant, you complete the tax returns for the company. You process the taxes to be paid by the business and prepare the tax returns. When you work in the payroll department, you ensure the company complies with the statutory requirements. For instance, you prepare the statutory deductions for employees in the company.
- preparing budget forecasts: as a pre-qualified accountant, you work under an accountant's supervision to prepare the company's budgets. You analyse the records of income and expenditures and prepare a financial forecast that predicts the expenses and income for the month.
- tracking payments: as a part-qualified accountant, you maintain accurate records of the payments made to various internal and external stakeholders. You ensure the payments are timely and issue invoices and reminders to stakeholders with overdue payments.
- managing financial transactions: as a part-qualified accountant, you assist the accounting team with completing monthly, quarterly and annual financial records. You manage all accounting transactions, from receivables to payables. If the company uses accounting software, you feed data into the system.
- assisting with ad hoc projects as required: as a part-qualified accountant, you support various finance and accounting officers. Aside from handling monthly or yearly tax return filling and balance sheet management, you perform other administrative and bookkeeping tasks. For instance, your job can include managing petty cash.
-
work environment
A part-qualified accountant role is a desk job. You spend hours on your computer and indoors analysing financial information and recording accounting transactions. As a part-qualified accountant, you can work in various industries, from financial services to consultancy firms and manufacturing institutions. You work alongside a team of accountants to gain knowledge of various accounting practices. You also have work-from-home opportunities and remote work options.
-
who are your colleagues?
Working as a part-qualified accountant involves collaborating with various professionals in the field. You provide support to accountants, finance officers and controllers. You also work alongside finance managers and payroll specialists. Other professionals whom you are likely to work with include operations managers, management accountants and office managers.
-
work schedule
The typical work schedule of a part-qualified accountant is 37 to 40 hours a week. Since you support various professionals in the finance department, you are likely to work evenings to complete some tasks. You work weekends and late nights during busy seasons to keep up with your work. While most part-qualified accountants work full-time to learn the role, part-time opportunities are also available. Most part-qualified accountants work on short-term contracts as they complete their accounting qualifications.
-
job outlook
As a part-qualified accountant, you have a promising career outlook. You can complete your qualifications and specialise in management accounting or become a qualified financial accountant. Some part-qualified accountants become controllers and progress to managerial roles, like public finance accountants and finance managers.
-
advantages of finding a part-qualified accountant job through randstad
Finding your part-qualified accountant job through Randstad provides important advantages such as:
- a wide variety of training and development opportunities
- an experienced contact person to provide help if needed
- a range of opportunities in your area
- get paid weekly or monthly, depending on the job
- temporary and permanent contracts
Want a permanent contract? A temporary job as a part-qualified accountant is often a stepping stone to an attractive permanent job. Every year, thousands of people earn a permanent contract with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too!
education and skills
You require educational qualifications to become a part-qualified accountant. You don't have to complete accounting certification from ACCA or CPA, but you need a background in accounting. For instance, complete a bachelor's degree in finance or accounting to acquire basic accounting knowledge. Since you also require certification from accounting bodies, it is important to pursue the qualifications. Unlike a qualified accountant, a part-qualified accountant is only expected to complete the first ACCA or CPA training level.
Aside from educational qualifications, learn the basics of using Microsoft Office and accounts packages. Work experience in accounts preparation and tax compliance also prepares you for the role.
part-qualified accountant skills and competencies
A part-qualified accountant requires technical and soft skills to excel in the role. Some of the qualities of a part-qualified accountant include:
- attention to detail: as a part-qualified accountant, you require attention to detail to maintain accurate information. You handle huge amounts of financial data that require analysis. Any simple errors can cause problems. Your detail-oriented skills help you maintain organised accounts to avoid making costly mistakes.
- communication skills: as a part-qualified accountant, you require good communication skills. Listening skills help you gather accurate facts and figures from clients or other stakeholders. Communication skills help you articulate the results of your work when presenting your findings. Written communication skills help you prepare accurate reports.
- business acumen: as a part-qualified accountant, it is important to understand the basic operations of a business to analyse and interpret financial data accurately. When you have a solid foundation in business, you provide context to the financial information that accountants work on daily.
- data analysis: as a part-qualified accountant, you rely on your analytical ability to interpret financial data. Your analytical skills help you identify patterns in financial information to determine trends that could impact company growth.
- mathematics skills: as a part-qualified accountant, you should have exceptional numerical skills since you analyse numerical data. Your maths skills help you calculate financial information, compare figures and complete balance sheet reconciliation.
FAQs about working as a part-qualified accountant
Here, you will find the answers to the most frequently asked questions about the profession of a part-qualified accountant.
-
what does a part-qualified accountant do?
As a part-qualified accountant, you provide support to accountants. Your role involves preparing financial statements, including weekly, monthly and annual reports on sales, expenses and purchases. You also perform bank reconciliations and prepare petty cash reports. Other duties include managing the accrual and prepayment accounts before completing annual returns for the company. Part-qualified accountants also ensure tax compliance and prepare statutory accounts.
-
how much does a part-qualified accountant earn?
As a part-qualified accountant, you earn an average salary of £31,000 per year. Entry-level positions in the role attract a compensation package of £27,500 annually, while experienced part-qualified accountants earn over £40,000 yearly. When you complete your qualifications while working for the company, you can negotiate a higher compensation package. Your location usually influences your earnings, with large cities paying higher salaries due to the high demand for the role.
-
what qualifications do part-qualified accountants have?
As a part-qualified accountant, you require at least a bachelor's degree to understand the basic accounting principles necessary for the role. You should also commence training on professional courses to become a certified accountant. Part-qualified accountants usually complete a few levels in ACCA or CPA qualifications to get a job.
-
what skills does a part-qualified accountant have?
As a part-qualified accountant, you require written and verbal communication skills to communicate well with others and prepare reports. Your attentiveness to details helps you avoid errors when preparing financial statements. You also require maths skills to calculate and analyse complex transactions to ensure proper financial information is recorded. Your analytical ability helps you understand and interpret financial data.
-
is a part-qualified accountant a good job?
Working as a part-qualified accountant prepares you for the role of an accountant. You receive a higher compensation package with minimal experience and qualifications. You also have numerous opportunities for career advancements and job opportunities.
-
how do I apply for a part-qualified accountant vacancy?
Applying for a part-qualified accountant job is easy: create a Randstad profile and search our job offers for vacancies in your area. Then simply send us your CV and cover letter. Need help with your application? Check out all our job search tips here!
