Accounting Clerks: Balancing the Books

Accounting Clerks: Job Summary, Key Skills, and Balancing the Books

Every business, from small startups to multinational corporations, depends on accurate financial records. At the heart of this process are accounting clerks, the professionals who ensure all accounts are balanced, reconciled, and ready for decision-making.

According to the U.S. Bureau of Labor Statistics, bookkeeping, accounting, and auditing clerks earned a median annual wage of $49,210 as of May 2024, with about 170,000 job openings projected annually despite automation-driven declines.

This blog covers everything you need to know: the accounting clerk job summary, essential skills, the meaning of balancing the books, industry trends, and career opportunities in 2025 and beyond.

Accounting Clerk Job Summary (What They Do)

Accounting clerks are responsible for maintaining accurate daily financial records. Their work ensures businesses know exactly how much they earn, spend, and owe.

Typical tasks include:

• Recording daily transactions
• Reconciling accounts (bank, AP, AR)
• Preparing trial balances and reports
• Assisting accountants with audits or tax filings
• Managing payroll and invoices

Core Responsibilities of an Accounting Clerk

While titles differ (e.g., accounts payable clerk, payroll clerk), common responsibilities include:

• Recording Transactions – Entering daily sales, payments, invoices, and expenses.
• Maintaining Ledgers – Tracking AP/AR balances and aging schedules.
• Reconciling Accounts – Matching internal ledgers with bank/credit statements.
• Preparing Reports – Monthly expense reports, trial balances, and summaries.
• Checking Accuracy – Reviewing invoices, totals, and postings for errors.
• Routine Financial Tasks – Processing payroll, deposits, and maintaining records.

A Clerk’s Daily Workflow

To give you a clearer picture of how accounting clerks manage their time, here’s an example of what a typical workday might look like:

Essential Skills & Tools for Balancing the Books

To succeed, clerks need a mix of technical skills and personal qualities:

• QuickBooks/Xero/Wave proficiency
• Excel lookups, pivots, and formulas
• Detail orientation & confidentiality
• Strong communication & organization

Skills & Tools Comparison

Here’s a breakdown of the most important tools and skills for clerks, along with why each one is vital for keeping books balanced:

How to Balance Your Business Books (Step-by-Step)

Balancing the books means verifying that all accounts are accurate and debits equal credits.

Steps to Balance

• Record daily activity.
• Reconcile cash and credit accounts.
• Check AP/AR subledgers.
• Run a trial balance.
• Adjust and close the period.

1. Record All Daily Financial Activity

Start by logging every financial move your business makes. That includes:

• Sales and cash receipts

• Vendor payments and bills

• Bank fees, deposits, and transfers

• Small expenses like office supplies

Use accounting software or even a simple spreadsheet to keep things organized. The key is consistency—do this daily or weekly so you don’t fall behind.

2. Reconcile Cash and Credit Accounts

Once your transactions are recorded, match them with your bank and credit card statements. This is called reconciliation.

Go line by line:

• Check that each deposit and withdrawal in your books appears in your bank statement

• Look for missing charges or duplicate entries

• Mark cleared items to keep track of

If something doesn’t match, find the error and fix it. Maybe a payment didn’t go through, or you entered the wrong amount. Catching these early prevents bigger issues later.

3. Review Accounts Payable and Accounts Receivable

These are your unpaid bills (AP) and money customers owe you (AR). They’re tracked in subledgers—mini-accounts that feed into your main books.

Check that:

• All invoices you’ve sent are recorded

• Payments received are marked as paid

• Bills you owe are up to date

This helps you know how much cash is coming in and what you’ll need to pay soon.

4. Run a Trial Balance

Now pull a trial balance report from your accounting system. This shows all your account totals—like cash, equipment, loans, and revenue—and checks if total debits equal total credits.

If they don’t match, there’s an error somewhere. Common causes:

• A transaction entered twice

• A number typed wrong

• Something was posted to the wrong account

Go back and double-check recent entries until the numbers line up.

5. Make Adjusting Entries and Close the Period

Before wrapping up, make any final tweaks. For example:

• Record expenses that haven’t been billed yet (like utilities)

• Adjust inventory or prepaid expenses

• Account for depreciation

Once everything’s accurate, close the accounting period. This locks the books for that month or quarter, so you can start fresh next time with clean, reliable data.

Book Balance vs. Bank Balance

One of the most common reconciliation tasks involves comparing book balances with bank balances. Here’s a quick comparison of what each term means:

Balanced books ensure correct reporting, fraud detection, and cash flow visibility.

Common Bookkeeping Mistakes to Avoid

Mistakes & Fixes

Accounting clerks often run into recurring problems. This table highlights the most common mistakes, why they matter, and how to fix them:

Salary, Outlook & Career Path

• Median Pay (2024): $49,210
• 10th Percentile: ~$32,000
• 90th Percentile: ~$72,000
• Job Outlook: –6% (2024–2034), but ~170,000 annual openings remain strong.

Career Path:

• Entry-level clerk → Senior clerk or assistant (Curious about the difference? See Accounting Assistant vs. Accounting Clerk)
• With a degree → Staff accountant, auditor
• With CPA/CMA → Controller, analyst, or finance manager

How to Become an Accounting Clerk

• Education: HS diploma minimum; associate degree preferred. Many employers value candidates who have completed specialized training, such as the CCI Business & Accounting Coursework, which covers QuickBooks, Excel, payroll, and other essential skills.
• Training: QuickBooks, Excel, payroll systems, and cloud accounting tools.
• Certifications: Certified Bookkeeper (CB) adds credibility.
• Experience: AP/AR or finance office roles, internships, or bookkeeping for small businesses.
• Growth: Pursue staff accountant or CPA-track roles with additional education and certifications.

Cost Accounting Clerk – A Specialized Path

While many clerks work in general bookkeeping, others specialize as cost accounting clerks. These professionals focus on tracking and analyzing costs tied to production, projects, or services.

Key duties include:

• Recording and monitoring material, labor, and overhead costs.
• Preparing management reports on production costs and profitability.
• Supporting budget planning and cost-control initiatives.
• Reconciling cost ledgers with general accounts.

For businesses, cost accounting clerks provide insights into efficiency and profitability. For clerks, this specialization is a great entry point into management accounting or financial analysis.

How to Balance Your Business Books – Practical Tips

Knowing the steps is one thing—doing them consistently is another. Here are some practical tips:

• Use software wisely – Automate recurring entries and set reconciliation alerts.
• Do weekly mini-checks – Reconcile small batches instead of waiting for month-end.
• Separate finances – Avoid mixing personal and business transactions.
• Use checklists – Keep a recurring monthly close checklist for consistency.
• Review reports regularly – Income and cash flow statements reveal imbalances early.

Following these practices makes balancing the books a smooth, ongoing process rather than a stressful monthly scramble.

Emerging Trends in Accounting Clerk Roles

Technology is reshaping clerical work. Key trends include:

• Automation tools – AI bookkeeping reduces manual entry but needs oversight.
• Hybrid roles – Clerks now combine finance + admin responsibilities.
• Remote work – Online bookkeeping roles are growing.
• Data analysis focus – Clerks help identify financial trends, not just transactions.

Future-ready clerks master both tech tools and analytical thinking.

Why Businesses Can’t Afford Unbalanced Books

Keeping track of money isn’t just a task—it’s the backbone of any business. When books aren’t balanced, the damage goes far beyond a simple math mistake. It can shake the foundation of a company, sometimes beyond repair.

Failing to maintain accurate financial records creates real, serious risks that can sneak up fast:

• Cash flow issues – You might think you have money to spend, but without balanced books, you could be overspending and run out of cash when you need it most.
• Tax problems – Mistakes in records often lead to errors on tax filings. That means audits, fines, or even legal trouble with tax authorities.
• Poor business decisions – Managers and owners rely on financial reports to make choices. If those numbers are off, they could invest in the wrong areas, hire too many people, or miss real opportunities.
• Investor mistrust – People who put money into your business want to see clean, clear records. Sloppy books make them question your credibility. No investor wants to fund a business that can’t track its own money.

At the end of the day, balanced books aren’t just about rules—they’re about survival. And who helps keep everything on track? Often, it’s the accounting clerks. 

They may not be in the spotlight, but they’re the ones catching errors, organizing data, and making sure the numbers add up. They’re the quiet safety net that keeps a business running smoothly.

Conclusion

Accounting clerks may not grab headlines, but their work underpins every financial decision a company makes. From reconciling accounts to balancing books, they ensure accuracy, compliance, and stability. With technology changing their role, those who adapt with new tools and certifications will remain invaluable in finance departments for years to come.

Ready to start your accounting career? Talk to an Admissions Advisor. Learn the tools employers expect: Explore Business & Accounting Coursework.