Introduction to Accounting Bachelor Degree Salary

Accounting is a field that has gained immense importance over the years. This is because every business, be it big or small, requires an accountant to handle its financial matters efficiently. Accounting is a vast field with a multitude of avenues, and one of these is an ‘Accounting Bachelor Degree’. In this article, we will take a look at the Accounting Bachelor Degree salary and some of the skill sets required, including tracking fixed assets in QuickBooks Online.

Accounting Bachelor Degree Salary

The salary of an individual with an Accounting Bachelor Degree varies based on a number of factors such as the level of experience, geographical location, and the specific domain within accounting that the person is working in. According to the Bureau of Labor Statistics, the median annual wage for accountants was around $71,550 in May 2019. However, this is just the median and individuals with further specialization and experience can earn significantly more.

Entry-level accountants with a Bachelor’s Degree in accounting can expect to earn a salary in the range of $44,000 to $60,000 per year. However, with experience and additional certifications such as Certified Public Accountant (CPA), the earning potential increases substantially.

Essential Skills for Accountants

While the potential salary offers great incentive, possesing certain skills in the field of accounting can lead to greater success and opportunities. Some of these include:

  • Attention to Detail: Accounting is a detail-oriented field and requires a high level of precision.
  • Mathematical Skills: While advanced mathematics is not often used, a basic understanding of arithmetic and algebra is important.
  • Analytical Skills: Accountants need to be able to analyze and make sense of complex financial records.
  • Communication Skills: The ability to communicate clearly and succinctly is necessary for collaboration and explaining financial concepts to non-financial colleagues.

Tracking Fixed Assets in QuickBooks Online

One of the critical skills that accountants should possess is proficiency in accounting and financial management software. One such software commonly used is QuickBooks Online. A unique skill within this includes tracking fixed assets in QuickBooks Online.

Fixed assets refer to long-term tangible assets that a company owns and uses in its operations to generate income. These include property, plant, and equipment. Tracking these assets is crucial for both tax and reporting purposes, and QuickBooks Online provides a simple way to keep track of these assets all in one place.

Mastering this function opens up a unique subset of opportunities for accountants in managing and tracking company resources, further enhancing their viability in the workforce. Being proficient in QuickBooks and similar software not only improves an accountant’s efficiency but can also enhance their earning potential.

Conclusion

In conclusion, the salary of individuals with an Accounting Bachelor Degree can be quite rewarding, particularly as they gain experience and additional skills. Among these skills, mastering necessary software, particularly the function of tracking fixed assets in QuickBooks Online, figured as a vital component. Accounting provides a stable and lucrative career path for individuals with the discipline and enthusiasm for this field.