An assistant controller reports directly to the company’s controller and is responsible for a wide range of tasks, depending on the size of the company. This assistant financial worker oversees many aspects of the financial process, as the controller is in charge of the accounting department. Payroll, receivables, taxes, and audits are just a few of the areas that an assistant controller might be in charge of.
The financial department of a company is in charge of tracking and analyzing profits and expenditures, and the assistant controller spends a significant amount of time doing so. This type of assistant can create and track customer invoices, collect payments from customers, and manage collections. He may also be in charge of a department’s or location’s budget, as well as the company’s overall budget. He could be in charge of the general ledger, which tracks and records the assets and income of a business.
This job may have a variety of general responsibilities. This financial expert is frequently responsible for maintaining the company’s bank accounts as well as analyzing purchasing and profit margins. By developing rules and procedures for others to follow, an assistant controller will work closely with the controller and other members of management to ensure good accounting practices.
An assistant to the controller who specializes in financial reporting is in charge of communicating financial data to other employees as well as clients and outside organizations. A financial reporter will provide detailed reports and analysis to a company’s board of directors, owner, or governmental agencies that require financial information. The creation of monthly reports and inventory tracking are frequently the responsibilities of an assistant controller.
The tracking and management of the payroll process is another important aspect of this job. This person may be in charge of calculating employee pay hours and commissions, as well as issuing paychecks and keeping track of the payroll budget. In larger companies, an assistant controller may oversee a team of employees who perform data entry and payroll duties, or in smaller businesses, he may perform these tasks himself.
This position also necessitates experience with taxes. An assistant controller is usually a key component of the process when a company must submit financial records, such as in the case of an audit. He could be in charge of gathering data and reports, communicating and planning with the management team, and presenting to others. He may also complete and submit tax forms on a regular basis.