Finding the right accounting talent for a remote team can be challenging.
This article will provide the essential industry-specific accounting skills to target when building a specialized remote accounting team tailored to your business's needs.
You'll learn key technical competencies, advanced data analysis capabilities, and the soft skills necessary to excel in senior remote accounting roles. Actionable strategies to cultivate new skills are also provided to help assemble a dream team of accounting excellence.
Navigating Remote Accounting Excellence
With the rise of remote work, there is an increasing need for businesses to build specialized accounting teams tailored to their unique operations and needs. This article outlines key skills to prioritize when hiring remote accounting professionals.
Remote accounting offers many benefits, including cost savings, expanded talent pools, and flexibility. However, finding the right fit for your business requires focusing on both technical expertise and soft skills.
Key Technical Skills
When evaluating accounting skills for your remote team, prioritize candidates with:
- Expertise in your industry's regulations and standards
- Fluency in US GAAP principles and guidelines
- Proficiency in your accounting software and tools
- Understanding of automation and AI in accounting
- Specializations such as payroll, taxation, auditing, etc. based on your needs
Verify technical competencies by reviewing certifications, training courses, and practical work samples.
Critical Soft Skills
In addition to technical capabilities, seek candidates who demonstrate:
- Strong communication and collaboration aptitude
- Ability to work independently with minimal supervision
- High ethical standards and attention to detail
- Time management and organization
- Cultural alignment
Assessing soft skills can be done through interviews, references, situational judgment tests, and trial periods.
Building a remote accounting team with specialized expertise and soft skills establishes a firm foundation for financial operations, growth, and success. Reach out to further discuss tailoring hiring solutions to your business needs.
What are basic accounting skills?
Accounting skills comprise both hard skills and soft skills that accountants need to be effective in their roles.
Hard Skills
Some key hard skills that form the foundation of accounting expertise include:
- Financial reporting skills - Ability to prepare financial statements like balance sheets, income statements, cash flow statements as per accounting standards and principles such as GAAP or IFRS.
- Budgeting and forecasting skills - Experts at building financial models to forecast revenues, expenses, cash flows and prepare budgets.
- Technology and software skills - Proficiency in accounting software like QuickBooks, SAP, Oracle NetSuite to record transactions and analyze financial data.
Soft Skills
Equally important are soft skills that enable accountants to apply technical knowledge:
- Communication - Conveying financial information clearly to non-finance colleagues and leadership through reports, presentations and face-to-face interactions.
- Analytical skills - Identifying trends in figures, investigating discrepancies and assessing financial performance.
- Ethics - Displaying integrity with confidential data, declaring conflicts of interest, ensuring transparency.
The right blend of these accounting skills prepares professionals to expertly manage the financial health of an organization. Technical certification coupled with strong soft skills is key.
What are the skills of an accountant?
In accounting, leadership skills can be demonstrated through strategic thinking, long-term planning, and problem solving, among other abilities. The best accountants in the business are usually known for their vision – the ability to make logical decisions with a tinge of creativity.
Accounting professionals require a combination of hard and soft skills to succeed. Some key skills include:
Technical and Analytical Skills
- Understanding of accounting principles and standards like GAAP or IFRS
- Ability to analyze financial statements and identify risks, opportunities, or discrepancies
- Knowledge of accounting software like QuickBooks or Xero
- Data analysis using Excel or other programs
- Budgeting, forecasting, and financial modeling
Communication and Interpersonal Skills
- Clear written and verbal communication skills to collaborate across teams
- Ability to translate complex financial data into understandable terms
- Relationship building and client management
- Cross-cultural competency when working with international teams
Critical Thinking and Problem Solving
- Identifying issues and developing solutions
- Understanding accounting implications of business decisions
- Evaluating processes and recommending improvements
- Exercising professional judgement
Leadership and Management
- Coaching and developing staff
- Overseeing projects and managing deadlines
- Implementing new systems and driving change
- Promoting ethics and integrity
These foundational accounting skills can be supplemented with training in areas like analytics, business advisory, or specialized technical skills to support specific accounting functions or industry needs. With the right expertise, accounting professionals play a vital strategic role in organizational success.
What are 3 skills to be an accountant?
Strong written and oral communication
As an accountant, having excellent written and oral communication skills enables you to clearly convey key information to various business stakeholders. You need to present complex financial concepts, technical details, and analytical findings in simple and compelling ways. Being able to actively listen, ask clarifying questions, and have collaborative discussions are also vital for successful projects. These skills ensure maximum comprehension and buy-in across the organization.
Organization and attention to detail
Staying organized and paying close attention to details are crucial accounting skills. Accountants frequently manage large volumes of financial documents, transactions, budgets, and reports that require diligent tracking, proper filing, and cross-referencing. You must have sharp focus to thoroughly review ledgers, invoices, billing statements, etc. to ensure full accuracy of figures before entry, processing, and analysis. These skills help prevent costly oversights and errors that undermine data integrity.
Analytical and problem solving skills
Accounting often requires conducting complex quantitative analysis, financial modeling, revenue forecasting, cost-benefit analysis, investment appraisals, and more. You need strong analytical skills to interpret trends, root causes, and projections that inform operational strategies and budgets. Additionally, accountants frequently troubleshoot issues like revenue shortfalls, cost overruns, discrepancies, etc., making creative problem solving abilities invaluable for uncovering workable solutions.
What are 4 skills needed to be an accountant?
Key skills for accountants
Accountants need a broad range of skills to succeed in today's evolving business landscape. Here are four key skills every accountant should develop:
Analytical skills. Accountants must analyze complex financial data to spot trends, inconsistencies, and opportunities. Strong analytical abilities help accountants provide actionable insights to guide strategic decisions.
Communication skills. From presenting findings to collaborating with teams, accountants must convey complex information clearly and tactfully. Solid writing, speaking, and active listening skills are essential.
Technological skills. As financial processes increasingly rely on software, accountants must master programs like QuickBooks, Excel, database management systems, and more. Understanding automation and staying updated on the latest tools is key.
Business acumen. Grasping overarching business concepts helps accountants provide relevant, impactful advice. Knowledge of operations, management, and industry trends makes accountants better positioned to meet organizational needs.
Sharpening this versatile skill set empowers accountants to provide immense value as strategic thought partners across all levels of an organization. With expertise in analysis, communication, technology, and business, today's accountants play a vital role in driving operational success.
sbb-itb-beb59a9
Essential Accounting Skills for Remote Proficiency
Regardless of specialty, some universal baseline skills are must-haves for any strong remote accounting candidate, including communication, collaboration, tech-savviness, and self-management.
Mastery of Remote Communication and Collaboration
As remote team members, accountants need to communicate clearly via messaging, email, and video call. They should also collaborate cross-functionally.
- Remote accountants must have strong written and verbal communication skills to convey complex financial information accurately over digital channels. This includes using clear language, summarizing concepts succinctly, and tailoring messaging for different stakeholders.
- Asking clarifying questions and actively listening helps remote accountants fully understand requirements and expectations when in-person context cues are lacking. Follow-up is key.
- Video conferencing etiquette, from appropriate backgrounds to professional attire and demeanor, enables productive virtual meetings with managers and clients.
- Cross-functional collaboration skills allow remote accountants to seamlessly work with other departments like sales, HR, and operations to synchronize efforts.
- Shared task management platforms including Asana, Trello, and Monday.com facilitate real-time collaboration by centralizing team communication, resource sharing, and project tracking.
- Version control tools like Git help remote teams track changes in financial models and statements for transparency. Comments clarify rationale behind modifications.
Tech Proficiency for the Modern Accountant
Proficiency with remote platforms like Slack, Zoom, and project management software enables seamless integration.
- Cloud-based productivity suites such as G Suite, Office 365, and Zoho empower mobile access to documents and seamless content workflow between remote team members.
- Data analysis programs like Excel, QuickBooks, Xero, and SAP enable remote accountants to crunch numbers, automate processes, spot trends, and derive insights remotely. Macro, formula, and visualization mastery is key.
- Cybersecurity awareness, from strong unique passwords to secure WiFi, is non-negotiable for remote accountants handling sensitive client financial data. Multi-factor authentication offers an extra layer of protection.
- Digital organization systems, whether Evernote for notes or Google Drive for asset storage and sharing, prevent vital information from falling through the cracks.
Independent Time Management and Self-Direction
Without in-person supervision, remote accountants must be focused self-starters who prioritize and pace their work.
- Proactively setting and meeting deadlines demonstrates accountability and reliability even when working independently. Project management tools help.
- Disciplined calendar blocking promotes uninterrupted focus on deliverables while also building in breaks to prevent burnout.
- Regular status updates via video call or project tracking platforms reassure stakeholders of progress and surface any roadblocks early.
- A solutions-focused mindset enables remote workers to independently troubleshoot problems like technical glitches without constant oversight.
- Continuous skills development through courses and certifications displays commitment to adding value at a distance in a rapidly evolving field.
Specializing in Industry-Specific Accounting Skills
Beyond core skills, the specialized accounting skills needed depend heavily on your business's industry and operational needs. Finding accountants with expertise tailored to your niche can provide tremendous value.
Accounting for Manufacturing: Inventory to Overhead
For manufacturers, key accounting skills to target include:
- Inventory management - Tracking raw materials, work in progress, and finished goods. Understanding inventory valuation methods like LIFO and FIFO.
- Factory cost accounting - Analyzing direct materials, direct labor, and manufacturing overhead costs. Activity-based costing.
- Production capacity analysis - Assessing utilization rates and constraints. Tying overhead costs to production output.
Having accountants that understand your manufacturing processes and associated accounting needs enables better decision making and cost control.
Financial Stewardship in Non-Profits
Specialized skills for non-profit accountants focus on:
- Grant compliance - Managing restricted funds from government and foundation grants. Tracking allowable expenses by grant source.
- Fundraising reporting - Communicating financials to donors and board members. Benchmarking against goals.
- Restricted funds - Separating donations/grants by purpose. Ensuring proper spend tracking and compliance.
Deep understanding of non-profit accounting guidelines provides essential oversight and aids sustainability.
Retail Accounting: Compliance and Financial Systems
For retail businesses, target accountants with strengths in:
- Sales tax compliance - Managing tax collection, filing, and audits across multiple jurisdictions. Staying current on changing rules.
- Retail accounting systems - Leveraging specialized software like QuickBooks Retail, NetSuite, etc. tied to POS systems.
- Financial planning - Creating rolling forecasts tied to seasonal sales swings. Scenario modeling around campaigns and promotions.
Retail finance expertise enables tighter operational controls, better planning, and risk mitigation.
With specialized accounting skills tailored to your vertical, your remote accounting team has the right tools and knowledge to provide strategic value, enabling more informed business decisions.
Advanced Technical Skills and Emotional Intelligence for Senior Roles
For senior or management roles, advanced proficiency in specific programs and soft skills become increasingly important.
Data Analysis Mastery: Excel to BI
Data literacy is a crucial accounting skill for senior accountants and finance managers. The ability to derive actionable insights from raw financial data enables data-driven decision making to improve business processes.
With the right analytical skills, accountants can transition from reporting past performance to predicting future outcomes. Go beyond Excel by mastering additional programs like Power BI, Tableau, SQL, and R. Using business intelligence tools, accountants can visualize data trends and identify growth opportunities through descriptive, diagnostic, predictive, and prescriptive analytics.
Consider pursuing certifications like the CPA data analytics certificate to validate technical abilities. Hands-on practice manipulating large, complex datasets also builds this expertise over time. As accountants level up data analysis skills, they evolve into true strategic advisors that transform financial numbers into forward-looking business strategy.
Efficiency through Automation with RPA
Repetitive, manual processes drain productivity. Robotic process automation (RPA) allows accountants to configure "software robots" that mimic human actions, automating routine accounting workflows. This lets professionals focus on high-value tasks like data interpretation, advisory services, and long-term planning.
Intelligent process automation combines RPA with AI and machine learning to handle unstructured data flows. As technology advances, automation maximizes output while minimizing manual intervention. Accountants should proactively upskill to take advantage of these innovations.
Familiarity with leading RPA tools like UiPath, Blue Prism, and Automation Anywhere enables accounting teams to identify automation opportunities. Quantifying time savings and efficiency gains helps secure executive buy-in for implementation. As automation reshapes the accounting function, adaptable skill sets differentiate top talent.
Soft Skills for Accountants: The Emotional Intelligence Edge
Beyond number crunching, senior accountants must influence executives, liaise across departments, and even lead remote teams. Strong communication and emotional intelligence differentiate effective managers.
Seek candidates exhibiting composure under pressure, multitasking abilities, conflict resolution tactics, and change management aptitude. These soft skills complement technical mastery, enabling accountants to guide organizations through volatility.
Remote work amplifies the need for transparent and compassionate leadership. Schedule skip-level meetings and virtual coffee chats to foster workplace culture. Recognize outstanding contributions to maintain engagement levels even when working apart.
Management capabilities are now baseline expectations for advancement. By balancing IQ and EQ, accountants transform into strategic advisors equipped to steer companies to financial success.
Cultivating New Skills for Accountants in a Digital Era
As the accounting landscape evolves, it's critical for remote professionals to continually adapt and refine their skill sets through targeted courses and practical experiences. By investing in continuous learning, accountants can elevate their expertise and better meet the changing needs of modern businesses.
Strategies to Enhance Accounting Skills
There are several effective strategies remote accounting professionals can use to build essential accounting skills:
- Enroll in online courses focusing on high-demand areas like data analysis, forecasting models, and automation tools. Platforms like Udemy, LinkedIn Learning, and edX offer affordable modules to advance technical know-how.
- Attend virtual conferences and webinars to stay updated on the latest industry trends. Key events hosted by the AICPA, IMA, and other professional bodies help sharpen core competencies.
- Gain hands-on experience with new accounting software programs through free trials and demo versions. Mastering solutions like QuickBooks Online, Xero, or NetSuite expands technical acumen.
- Develop soft skills like communication, collaboration, and emotional intelligence through books, videos, courses, and practical application. These skills maximize effectiveness in remote teams.
- Take a course specifically on remote collaboration tools like Slack, Zoom, and Asana. Using these solutions smoothly is vital for virtual teamwork.
- Consider earning new certifications in high-demand services like bookkeeping, payroll processing, budget analysis, etc. Specializations help secure senior roles.
Continuous learning is key for accountants to refine expertise and deliver value in specialized areas. Developing the right technical skills and soft skills ensures professionals remain effective across distributed teams.
Hands-On Approaches: How to Practice Accounting Skills
While taking courses is invaluable, accountants also need hands-on ways to apply new knowledge in practical scenarios:
- Ask managers about shadowing opportunities to learn specialized systems already used in the company. Observing workflows directly builds know-how.
- Schedule peer-to-peer training sessions with teammates to share expertise. Teaching others cements mastery of new skills.
- Proactively seek out stretch assignments that exercise novel competencies around data, systems, or automation tools.
- Use free trials of software platforms to set up mock company accounts and practice routine tasks. Working through realistic examples develops instincts.
- Create a professional portfolio highlighting acquired skills and share within your network. This exercises communication abilities and provides samples for future job searches.
Immersing oneself in hands-on experiences accelerates the integration of new expertise into work routines for sustainable growth. Alongside formal learning, applying skills directly in simulated environments helps remote teams collaborate smoothly.
The key is creating opportunities, both through company-provided training and individual initiatives, to practice accounting skills in practical situations. This builds muscle memory for using new technical platforms, soft skills, and specialized services confidently within remote teams over the long term.
Crafting the Ideal Technical Skills for Your Accountant Resume
Identifying and showcasing the ideal technical skills on your accountant's resume is vital to securing specialized remote roles. As businesses increasingly rely on remote teams with specialized expertise, the technical competencies listed on a candidate's resume indicate their ability to perform effectively in a remote setting.
Accounting Software Proficiency
Expertise using major accounting platforms and software is essential. Remote accountants must independently navigate programs like QuickBooks, Xero, Sage 50cloud, Microsoft Dynamics GP, and NetSuite with ease. List specific accounting systems mastered, emphasizing those used in your target industry.
For example:
- QuickBooks Online and Desktop (3+ years)
- Xero (2+ years)
- Bill.com (1+ year)
Quantifying your proficiency level and years using each software demonstrates specialized, hands-on experience versus cursory knowledge.
Data Analysis and Visualization
With remote teams, relaying insights virtually is key. Showcasing data analysis and visualization skills using programs like Tableau, Power BI, and Excel indicates you can:
- Organize datasets
- Identify trends/patterns
- Create visualizations to relay insights effectively remotely
List specific analysis and visualization skills like:
- Advanced Excel PivotTables and Pivot Charts
- Tableau Dashboard Design
- SQL for business data analysis
Automation
Leveraging automation helps remote teams work more efficiently. Listing experience with accounting automation software like Zapier, InDinero, or FloQast proves you can streamline accounting processes virtually.
Information Security
Specialized accounting roles, particularly remote ones, require protecting sensitive data. Showcasing cybersecurity skills reassures hiring managers. Consider listing:
- Familiarity following protocols like SOC 2
- Expertise using encryption, firewalls, VPNs
- Knowledge of frameworks like ISO 27001 or NIST
The technical skills listed on an accountant’s resume indicate their ability to perform essential duties remotely. Tailoring the skills to specialized platforms used in the industry roles you seek helps craft an ideal resume.
Remote Readiness
Prioritizing both specialized industry knowledge and universal remote work abilities will enable you to build a tailored accounting team to meet your business needs.
When building a remote accounting team, it's important to assess candidates based on both their technical skills as well as their ability to work remotely. Here are some key areas to evaluate:
Industry Knowledge
Domain expertise in your specific industry is crucial. Seek out accountants with experience in:
- Your business vertical (e.g. ecommerce, healthcare, etc.)
- Compliance needs and regulations
- Financial workflows and systems
This specialized know-how will enable them to quickly understand and add value to your operations.
Technical Prowess
Beyond core accounting skills, look for expertise in:
- Tax preparation
- Budgeting and forecasting
- Data analysis
- Risk management
These accounting skills will allow them to provide strategic insights beyond day-to-day bookkeeping.
Communication Abilities
With remote teams, clear communication is essential. Assess their:
- English verbal and written proficiency
- Ability to convey complex financial information simply
- Comfort with common remote tools like email, chat and video calls
Independence
Candidates should be able to effectively manage their workload and priorities without constant oversight. Seek out those able to:
- Work autonomously
- Be proactive in surfacing potential issues or delays
- Balance collaboration and independent efforts
By evaluating both specialized accounting competencies and universal remote abilities, you can build a tailored team to drive impact and growth.
