A remote accountant career path is an excellent option for a skilled accountant. It offers more freedom, career growth, and a way to increase earning potential.
If you’re thinking about a career in accounting or thinking about transiting from other career paths, you probably know that there are many different paths to take.
Even if you have already begun a career in this area and want to take it to the next level? I’ll guide you through a step-by-step process of how you can broaden your horizons as a remote accountant. Before we get started, let’s look at what a remote accountant is all about.
Who Is a Remote Accountant?
A remote accountant works from home or any location and specializes in accounting for their clients. They may provide financial advice and analysis or help people improve their financial management.
Apart from having extensive knowledge of the local tax laws and regulations, as well as local accounting standards, they work with various software like Zoom, Slack, Trello, Google drive, and other digital tools to communicate and collaborate with teams and clients to get the work done.
As a remote accountant, you might be needed to assist small business owners in quickly setting up accounting software, chart of accounts, updating entry backlogs, preparing financial statements, managing receivables and payables, filing tax returns, preparing annual budgets, and other back office support tasks within a short span of time and at a reasonable fee.
Now that you know a little about remote accountants and what they do or are expected to do, let’s move on to the criteria you need to become a remote accountant.
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Why Work as A Remote Accountant?
After the Coronavirus outbreak, there has been a lot of transition from in-house accounting to virtual accounting for various reasons, including reducing commute time and health benefits.
Others include;
- The opportunity to work on your terms and schedule to help you spend more time with friends or family.
- A chance to improve your health and well-being. Working from home allows you to make healthier meals and work in a cleaner and healthier office environment.
- Saves you a lot of commute time and money because you don’t have to be in the office every day, only when required to.
What Qualifies You to Work as A Remote Accountant
You need to cross various criteria and stages before becoming a remote accountant. I will discuss some of those criteria below.
1. Educational Background
To become a remote accountant, you must have an accounting or business administration undergraduate degree. You can add an additional credential by earning a master’s degree in business administration (MBA). This will give you more options and opportunities for higher pay.
2. Skills Requirement
Since you are going to be working remotely, there are some skills that you need to have in addition to the basic skills needed in the field of accountancy. From my research, I have been able to filter some skills that will help you function as a remote accountant.
Basic tech skills
If you are going to be working remotely, you need to have knowledge about some technical tools like Zoom( video conferencing), Slack or Trello for team collaboration, Google Drive or Dropbox for cloud storage.
Strong analytical and problem-solving skills.
You will be to analyze data and make decisions independently, which means you should be able to think critically.
Excellent written and verbal communication skills.
You need to communicate effectively with your clients, employers, and fellow employees. You must be able to communicate in an easy-to-understand way and make sure that everyone understands what you are trying to say. Furthermore, your written skills should be top-notch as you might have to draft reports, emails, and analyses.
The ability to work well under pressure.
Remote work can be stressful at times, especially when deadlines are tight or when you have multiple projects going on at once. It helps if you can handle these situations well without getting stressed out or losing focus on your tasks.
Excellent time management skills
You need to be able to manage your time well to meet all deadlines, deadlines, and other commitments related to your work. You must also be able to prioritize tasks based on their importance so that you can complete them in the least amount of time possible or when they are most convenient for you.
Excellent attention to detail
Being a remote accountant means working from home, so it’s important that you pay close attention to detail so that everything is done correctly from start to finish without any mistakes being made along the way.
Excellent problem-solving skills
Your job as a remote accountant involves solving problems for your clients or employers, which means that it’s necessary for you to have excellent problem-solving skills to be able to deal with various issues quickly without wasting.
3. Certification
To become a remote accountant, you must first be certified in your industry. This means that you have completed a certification program and passed a test that proves your knowledge and skills. Some of the most common certifications include:
- CPA (certified public accountant)
- CMA (certified management accountant)
- CMA (chartered management accountant)
- CAIA (chartered accountants in Australia)
- CGA (Chartered Government Auditor)
- CAI (Chartered Accredited Investment Analyst)
- CPAA – Certified Practising Accountant (CPA Australia)
- ACCA – Chartered Accountants Australia and New Zealand
- CIMA – Chartered Institute of Management Accountants
- The Institute of Chartered Accountants of Nigeria (ICAN)
4. Industry Experience
Industry experience can be a great way to get a feel for the industry and its challenges. It may not be an ideal way to become a remote accountant, but if you want to work in accounting or financial services, it’s an essential step. Becoming an accountant is a long process that takes years of study, training, and experience before you can apply for your CPA license.
In addition to these, you also need experience working in a professional environment. You can gain this experience by working as an intern at a company or by completing internships with companies specializing in accounting or financial services. You may also choose to work part-time while studying full-time at university to earn money for your studies. Industry experience will make your transition into a full remote accountant much easier.
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Job Responsibilities of A Remote Accountant
A remote accountant is expected to work similarly to a traditional accountant. However, where an in-house accountant might be slightly restricted, remote accountants will have more flexibility.
- In elaboration, you might be asked to prepare accounting reports and statements using computer software or other tools.
- Preparing financial statements that present the company’s financial position at any given time.
- Preparing balance sheets, income statements, and cash flow statements.
- Preparing tax returns for various companies, such as CFCs, LLPs, etc., which issue shares to their shareholders.
- Keeping records of transactions with clients’ accounts.
- Investigating whether there is any fraud or not when it comes to the accounts of a company or organization.
Remote Accountant Job Description Sample
Here is a job description sample that can be posted by a potential client. Remember that every recruiter is different, and they might require different qualifications when they hire for a remote accountant role. But here is just a general sample.
Job Summary
We are looking for a remote accountant to join our team. You will be responsible for performing financial analysis and reporting for clients, including but not limited to financial statement preparation, tax planning, budgeting, and forecasting. This position requires analysis of client data and reporting on that analysis to senior management as well as other members of the team. You will manage client relationships and support the senior accountants on the team.
You must use various software applications such as Quickbooks or Peachtree Accounting to complete your daily tasks. You must communicate effectively with customers via telephone or internet chat. In addition, you must be able to support other staff members with their tasks, such as filing and copying documents.
Responsibilities
- Prepare and review monthly financial statements, perform year-end close, prepare and distribute tax returns, prepare and process journal entries, and checkbook reconciliations.
- Maintain accurate accounting controls to ensure proper recording of all transactions.
- Perform period-end closing procedures following the rules and requirements prescribed by the organization.-
- Process sales invoices accurately, timely, and following the organization’s policies.
Requirements
- A university graduate with a degree in accounting or a related field or equivalent experience.
- CPA certification or any other relevant certificates
- Excellent communication skills in both written and verbal forms. Must be able to demonstrate excellent interpersonal skills.
- Ability to work under pressure, handle multiple tasks simultaneously, and meet deadlines in a fast-paced environment, which includes working independently and with others in a team setting for larger projects or special projects.
Frequently Asked Questions Remote Accountant Career Path
1. Can accountant do their job remotely, solely over the internet?
Not all accounting jobs can be done remotely online, like the IRS audit in the United States. Working remotely is certainly possible if you are handling things such as reconciliations, forecasting, financial statements, and analysis. However, if you need to handle original documents and some data entry, it will be much more difficult. Those documents really should not leave the office.
2. How can I find a fully remote accounting job?
To find remote jobs in accounting is not that difficult, there are numerous opportunities over the internet that fit your criteria. However, there are some websites you might want to visit which can give you an upper hand. Upwork, Fiverr, and glassdoor are among the job website known globally. Alternatively, you might want to create a LinkedIn profile and if you have the money, you can subscribe to their premium plan.
3. How much does a remote accountant make?
According to ZipRecruiter, a remote accountant in the United States makes $68,651 a year. This is about $33.01 an hour. This is the equivalent of $1,320/week or $5,720/month.
Conclusion
If you are a self-starter, want to work for yourself, and can deliver quality in the accounting field, then freelancing as an accounting professional might very well be for you. In summary, remote accounting positions can be rewarding and exciting but are also very demanding in time and effort.
So, before applying for a remote accounting job, give yourself a reality check by thinking carefully about your work-from-home style, interpersonal skills, and career goals. If you’re ready to commit to this new way of working, then welcome back to the workforce!