What Does a Treasury Accountant Do?

Treasury accountants are responsible for tracking and reporting the financial activities of their organization. They commonly work with a team of other accountants, auditors, and analysts to ensure that all transactions are properly recorded and reported in accordance

Treasury Accountant Job Duties

Treasury accountants have a wide range of responsibilities, which can include:

• Preparing financial reports such as income statements, balance sheets, cash flow statements, and other reports that track the performance of investments
• Preparing tax returns for individuals or businesses using accounting software such as Turbo Tax or TaxCut
• Reviewing financial statements to determine whether transactions have been recorded accurately
• Preparing reports on financial activities that are provided to government agencies such as the Internal Revenue Service (IRS) or Securities and Exchange Commission (SEC)
• Calculating taxes owed by individuals or businesses based on their taxable income
• Prepare bank deposits and recordkeeping for the government’s cash holdings
• Reviewing financial statements for compliance with laws and regulations, such as the US Generally Accepted Accounting Principles (GAAP)
• Preparing budgets for companies, government agencies, and non-profit organizations
• Communicating with investors about their portfolios, including making recommendations about investment strategies

Treasury Accountant Salary & Outlook

Treasury accountants’ salaries vary depending on their level of education and experience, the size of the company they work for, and the geographic location of their job.

• Median Annual Salary: $70,500 ($33.89/hour)
• Top 10% Annual Salary: $112,000 ($53.85/hour)

The employment of treasury accountants is expected to grow faster than average over the next decade.

Demand for these workers is expected to increase as banks and other financial institutions continue to expand their operations globally. Treasury accountants will be needed to help ensure that the institutions’ international investments are in compliance with U.S. laws and regulations.

Related: Treasury Accountant Interview Questions and Answers

Treasury Accountant Job Requirements

Treasury accountants typically need to have the following qualifications:

Education: Treasury accountants need a bachelor’s degree in accounting, finance or a related field. Some employers prefer candidates who have a master’s degree in accounting or business administration with a concentration in accounting. Relevant coursework includes financial accounting, taxation, auditing, business law and business communication.

Training & Experience: Treasury accountants typically receive on-the-job training in their first few months of employment. This training may include learning the company’s financial software and systems, as well as the company’s policies and procedures.

Certifications & Licenses: Certifications allow you to prove your skills and qualifications to current and potential employers. Treasury accountants can earn certifications to gain more theoretical knowledge of their responsibilities, test their professional skills and further advance their career.

Treasury Accountant Skills

Treasury accountants need the following skills in order to be successful:

Accounting skills: Accounting skills are the foundation of a treasury accountant’s job and are necessary for performing calculations, recording data and analyzing information. Treasury accountants use accounting skills to manage budgets, track revenue and expenses and prepare financial reports.

Data analysis: Data analysis is the ability to interpret and draw conclusions from large amounts of data. As a treasury accountant, you may be required to analyze financial data to determine the health of a company’s finances. This can include analyzing the company’s cash flow, debt and profit margins.

Financial planning: Financial planning is the ability to create and implement a budget for a company or individual. Treasury accountants use their financial planning skills to manage the government’s funds. They create budgets for the government’s income and expenses and ensure the government has enough money to operate.

Budgeting: A treasury accountant is responsible for managing the company’s budget and forecasting future financial needs. This requires a thorough understanding of budgeting and forecasting methods. Treasury accountants should be able to create a budget that aligns with the company’s goals and objectives.

Risk management: Risk management is the ability to identify potential problems and develop solutions to avoid or minimize their impact. As a treasury accountant, you may be responsible for managing the company’s cash flow, which requires you to understand the risks associated with different financial strategies. For example, you may be responsible for deciding whether to invest in a new project that may have a high return but also a high risk of failure.

Treasury Accountant Work Environment

Treasury accountants work in the finance department of a company and are responsible for the management of the company’s cash and investments. They work with the company’s financial statements and prepare reports on the company’s financial position. Treasury accountants also work with the company’s bank to ensure that the company’s funds are properly managed and to ensure that the company’s financial transactions are in compliance with banking regulations. Treasury accountants typically work a regular 40-hour week, although they may occasionally work overtime to meet deadlines.

Treasury Accountant Trends

Here are three trends influencing how Treasury Accountants work. Treasury Accountants will need to stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace.

The Need for Greater Financial Literacy

The need for greater financial literacy is a trend that is being driven by the increasing complexity of the global economy. As businesses become more reliant on technology, they also become more reliant on financial services, which puts a greater burden on their accountants to understand complex financial products.

Treasury accountants can capitalize on this trend by becoming experts in financial products and services. This will allow them to provide valuable advice to their clients about how to best manage their finances. In addition, they can also work to educate the public about the importance of financial literacy.

More Focus on Cybersecurity

As businesses become increasingly reliant on technology, the need for professionals who specialize in cybersecurity has grown. This is because cyberattacks are becoming more sophisticated and difficult to detect, making it essential for businesses to have professionals who can help protect them from potential threats.

Treasury accountants can capitalize on this trend by becoming certified in cybersecurity. This will make them more attractive to employers and give them the skills needed to keep businesses safe from hackers.

Greater Use of Technology

The use of technology in accounting is growing rapidly as more and more businesses rely on electronic transactions. This is leading to an increased demand for treasury accountants who are familiar with using technology to automate tasks and improve efficiency.

In order to stay competitive, treasury accountants should be comfortable using technology to streamline their work. They should also be able to identify opportunities to use technology to improve the way their company does business.

How to Become a Treasury Accountant

A career as a Treasury accountant can be very rewarding. It offers the opportunity to work in a variety of industries and with different types of companies. You’ll also have the chance to develop your skills and knowledge in many areas, including accounting, finance, and economics.

To be successful in this career, you need to be able to think critically and solve problems creatively. You should also be comfortable working with numbers and have strong math skills.

Advancement Prospects

Treasury accountants typically start their careers in entry-level positions, such as treasury analyst or assistant treasurer. With experience, they can advance to positions such as treasurer, vice president of treasury, or chief financial officer. Some treasury accountants also become certified public accountants or certified treasury professionals.

Treasury Accountant Job Description Example

At [CompanyX], we are looking for a Treasury Accountant to join our team. The Treasury Accountant will be responsible for the management and analysis of the company’s cash position, as well as the preparation of cash flow forecasts. Additionally, the Treasury Accountant will be responsible for the management of the company’s foreign exchange exposure and hedging activities. The ideal candidate will have a strong understanding of accounting and finance, as well as experience in cash management and forecasting.

Duties & Responsibilities

• Prepare and maintain the general ledger for all cash transactions
• Reconcile bank statements and prepare monthly journal entries
• Invest idle cash in short-term investments to earn interest income
• Prepare cash flow forecasts and monitor actual results against forecast
• Manage foreign currency risk by hedging with forward contracts
• Monitor compliance with debt covenants
• Maintain documentation of all treasury policies and procedures
• Assist with the preparation of annual budgets
• Perform ad hoc analysis as requested by management
• Train and mentor junior staff members
• Stay abreast of new developments in accounting and treasury management
• Participate in special projects as needed

Required Skills and Qualifications

• Bachelor’s degree in accounting, finance, or related field
• CPA or CFA designation
• 5+ years experience in an accounting role, with a focus on treasury accounting
• Strong understanding of GAAP accounting standards
• Advanced Excel skills, including VBA programming
• Proven track record of streamlining and improving accounting processes

Preferred Skills and Qualifications

• MBA or Master’s degree in accounting or finance
• Experience with SAP or other enterprise resource planning (ERP) systems
• Experience working in a global organization
• Treasury management certification (e.g. CTFA)