Accounting Skills to List on Your Resume

If you're pursuing a career in accounting, it's important to optimize your accountant résumé so you can make a positive first impression on potential employers. The skills section of your résumé provides a crucial opportunity to highlight your qualifications and show employers that you possess the accountant skills needed for the role.

Many hiring managers use automated applicant tracking systems (ATS) to scan candidate résumés for certain skills and keywords. By incorporating industry-relevant skills on your résumé, you can stand out in online searches and increase your chances of securing a favorable position. Continue reading to explore accounting roles and discover the capabilities that will help you get ahead in this dynamic field. 

What Types of Accountants Are There? 

While the accounting profession includes many specializations, most accountants fall under one of three categories: tax accountants, auditors, and industry accountants. Each of these roles has unique job responsibilities and qualifications. Tax accountants prepare and file taxes. They leverage a deep understanding of tax laws, rules, and regulations to help individuals and businesses minimize their tax liability and ensure compliance. Some of the skills needed to be a tax accountant include: 

• An understanding of accounting and bookkeeping procedures.
• Tax law expertise.
• Computer literacy, including proficiency with Microsoft Excel and accounting software programs.

Audit accountants examine financial records to ensure accuracy and compliance. They may also provide guidance regarding risk management, asset protection, and financial reporting. Some of the skills needed to be an audit accountant include:

• Risk management and compliance knowledge.
• Proficiency in auditing and accounting software.
• Knowledge of auditing standards.

Industry accountants handle the day-to-day financial operations within a company. They manage accounts payable and receivable, draft financial reports, and draw insights from financial data. Some of the skills needed to be an industry accountant include:

• Solid verbal and written communication.
• Business knowledge.
• Budget management.

What Are Hard Skills vs. Soft Skills for Accounting? 

There is a distinct difference between hard and soft skills in the workforce. Hard skills are the technical abilities you need to perform your job tasks, such as specific software knowledge or industry-specific expertise. You’ll likely gain these skills through formal education or job training. 

On the other hand, soft skills are nontechnical abilities that influence how you interact with others, overcome challenges, and execute tasks. For example, if someone says you’re an excellent communicator or describes you as detail-oriented, they’re referring to your soft skills. While you can learn soft skills through educational and professional pursuits, you’ll also hone these abilities through everyday life experiences. 

What Hard Skills Are Important in Accounting? 

Whether you’re an entry-level bookkeeper or the CFO of a huge corporation, you’ll use the same basic accounting and finance principles to guide your decision-making. You can learn these fundamentals by earning a bachelor’s or master’s degree in accounting. You’ll also need to learn role-specific skills based on the type of accounting services you provide. Some of the most valuable hard skills in the accounting field include:

Managing accounts payable and receivable. Managing accounts payable and receivable involves overseeing vendor payments and budgeting. This task requires effective collaboration with department heads to understand budgetary constraints, financial goals, vendor services, and payment procedures. Proficiency in accounts payable and receivable is especially crucial for industry accountants.

Handling vendor accounts. Accounting departments maintain accurate records of all vendor transactions. This involves entering data into the relevant software systems, ensuring timely delivery of vendor goods and services, and resolving billing issues. 

Determining budgets. Working in collaboration with various departments and executives, accountants analyze the previous year’s finances, identify patterns and trends, and then create a budget for the following year. This process requires skills in resource allocation, forecasting, and financial record keeping. 

Supervising payroll. Accountants are often in charge of calculating employee wages and making sure that paychecks are accurate and distributed on time. This involves keeping detailed records of hours worked, overtime, paid time off, and bonuses. They also ensure that payroll complies with all labor laws, tax regulations, and other legal requirements.

Working with third parties. Accountants often collaborate with bankers, insurers, legal representatives, and other third parties. For example, an accountant may arrange a business loan with a banker or work with an insurer to process a claim. Accountants also work with lawyers to maintain compliance and resolve legal disputes. They communicate with many other professionals to manage the organization’s accounts, protect assets, and monitor the overall financial health of their organization. 

Drafting financial reports. Accountants follow the Generally Accepted Accounting Principles (GAAP) when performing audits. Internal auditors assess the financial records of their own organization, while external auditors evaluate the finances of other organizations. Accountants with a solid understanding of financial reporting can interpret a company’s financial statements and verify that all activities are conducted legally and accurately. Organizations that fail to manage their finances in accordance with GAAP standards can face serious penalties, making it crucial for both industry accountants and auditors to be well-versed in financial reporting procedures.

Managing cash flow. To meet its financial obligations, a business needs a thorough understanding of its incoming and outgoing money. Accountants track expenses and revenue to ensure that the company has enough cash to cover day-to-day expenses like payroll and vendor invoices. They also identify trends in cash flow to help the company prepare for expenses, avoid unnecessary debts, and effectively allocate funds. 

Tax preparation. While tax accountants are primarily responsible for tax preparation and filing, accountants in any role need a basic understanding of tax laws and procedures. By staying up to date on tax codes and best practices, accountants help organizations remain compliant and make strategic tax-related decisions.

Creating financial statements. To create a comprehensive picture of a company’s financial health, accountants draft and maintain financial statements covering assets, liabilities, and cash flow. These statements enable business leaders to understand the company’s financial performance and make informed decisions about investments, cost-saving strategies, budgeting, and more. 

‌Identifying risks and ensuring compliance. Accountants find financial risks that could threaten the company’s financial security and help implement strategies to reduce risks and facilitate financial growth. They also ensure that the company complies with laws and regulations to avoid legal penalties and reputational damage associated with noncompliance. 

Analyzing data. By evaluating financial data, identifying patterns, and anticipating future trends, accountants can help organizations gain valuable insights into the company’s performance. Data analysis also helps business leaders make fact-driven decisions about budgeting, resource allocation, and other crucial issues. 

Business knowledge. While accounting professionals mainly deal with finances, the most successful accountants also understand business fundamentals like marketing, human resources, and sales. This business acumen empowers accountants to look at the big picture and make financial decisions that advance the company’s overall goals. 

What Soft Skills Are Important in Accounting? 

Soft skills are general abilities needed for virtually any job and include qualities like being a great multitasker or communicator. While these skills may not directly relate to accounting, they’re crucial for success in the accounting industry. Refining your soft skills can improve your professional relationships, enhance collaboration with coworkers and stakeholders, and increase your problem-solving abilities. Here are some of the most essential soft skills for accountants:

Written and verbal communication. Whether they’re discussing financial goals with executives, negotiating payments with vendors, or drafting a year-end report, accountants use written and verbal communication skills to fulfill their job duties. 

Customer service. While accounting may not seem like a customer service job, this profession does involve significant communication with clients, customers, vendors, and stakeholders. Accountants who hone their customer service skills can interact with these individuals politely and professionally. Good customer service fosters loyalty and improves the company’s reputation. 

Problem-solving. Accountants must be exceptional problem solvers. They need to evaluate multifaceted problems and find practical solutions by utilizing different approaches. Whether an issue involves a missing invoice, inaccurate calculation, or account discrepancy, accountants must find creative methods to rectify it. 

Critical thinking. By developing a strong critical thinking ability, accountants can gather and apply insights from highly complex data. They can evaluate situations from multiple angles, giving them a more comprehensive perspective on potential strategies. 

Leadership. Even without a formal leadership role, accountants can use leadership skills to positively shape their work environment and encourage organizational success. Leadership can involve anything from assisting a coworker with a difficult task to taking responsibility for mistakes. Accountants who consistently demonstrate leadership qualities are more likely to qualify for advancement opportunities. 

Analytical mindset. Because data analysis is a crucial aspect of accounting, the best accountants have a strong analytical mindset. This enhances their ability to interpret dense information, uncover financial trends, and identify discrepancies and reporting errors. Jim Franklin, Director of Academic Programs for WGU's Business College, explains, "The key to being successful is being able to analyze the numbers and draw conclusions."

Attention to detail. In the accounting field, a single miscalculation or oversight can be damaging. For example, the company could face costly tax compliance penalties if an accountant fails to report revenue correctly. Detail-oriented accountants check every number, leaving no stone unturned in their pursuit of accuracy. 

Persistence. Whether someone is an accounting student or a seasoned professional, they’ll likely encounter frustrating obstacles. Accountants who are persistent don’t give up when challenges arise. They stay optimistic and understand that overcoming obstacles and reaching goals takes time and consistent effort. 

What Technological Skills Do Accountants Need? 

In addition to hard and soft skills, accountants need specific technical skills. The accounting field relies heavily on technologies like billing software, enterprise resource planning systems, and data analysis tools. Proficiency with these programs is crucial. Including the following skills on your résumé will help you demonstrate that you’re prepared for accounting responsibilities.

Microsoft Excel. Accountants frequently use spreadsheets created in Excel. Most have hundreds of Excel spreadsheets that organize all their financial data. Accountants must be able to use functions and formulas to develop accurate, intelligible spreadsheets. 

Data analysis software. Many organizations utilize data analysis software to identify trends, predict future behavior, discover errors, and optimize financial strategies. Accountants must understand how to use common programs such as Tableau and Power BI to effectively fulfill job expectations. 

QuickBooks. Small and medium-sized companies often use QuickBooks to manage financial operations. This program assists with payroll processing, financial reporting, invoicing, tax preparation, and more. 

CRM systems. Customer Relationship Management (CRM) systems organize customer data such as contact details and payment histories. These tools can be used for various purposes in accounting, including automating invoices, predicting sales, and tracking customer behavior. By integrating CRM tools into their everyday routines, accountants can make decisions based on real-time data while improving customer satisfaction. 

Messaging and video conferencing. In the tech-driven accounting field, nearly every organization utilizes some type of online messaging or video conferencing software. These programs enable accountants to interact with vendors, clients, or stakeholders from across the globe. Accountants should be proficient in common conferencing tools like Microsoft Teams, Zoom, and Google Meet. 

Boost Your Accountant Résumé with a Degree from WGU

Developing a well-rounded skill set is one of the best things you can do to enhance your résumé and maximize your career opportunities. Whether you’re interested in tax accounting, auditing, industry accounting, or a related field, earning an accounting degree from WGU can help you gain the competencies needed to excel in your chosen career. WGU offers a Bachelor of Science in Accounting degree that can equip you with expertise in taxation, cost and managerial accounting, values-based leadership, organizational behavior, auditing, and much more. We also offer a Master of Accounting (MAcc) degree for those who are ready to take their careers to the next level. WGU’s competency-based platform lets you progress through courses as soon as you demonstrate mastery of the material. Additionally, tuition is charged at a flat rate per six-month term, allowing you to take more courses each term to potentially graduate sooner and save money. Start your journey toward career success by applying today.