• Most jobs require only a high school diploma.
• Numerous job opportunities should arise due to high turnover.
• Slower than average growth is expected in overall employment, reflecting the spread of computers and other office automation as well as organizational restructuring.

Depending on their specific titles, these workers perform a wide variety of financial recordkeeping duties. Bill and account collectors notify customers with delinquent accounts in order to solicit payment. Billing and posting clerks and machine operators prepare bills and invoices. Bookkeeping, accounting, and auditing clerks maintain financial data in computer and paper files. Payroll and timekeeping clerks compute wages for payroll records and review employee timecards. Procurement clerks prepare purchase orders and monitor purchase requests. Tellers receive and pay out money for financial institutions, while gaming cage workers perform many of the same services for casinos.

The duties of financial clerks vary with the size of the firm. In a small business, a bookkeeper may handle all financial records and transactions, as well as payroll and billing duties. A large firm, on the other hand, may employ specialized accounting, payroll, and billing clerks. In general, however, clerical staffs in firms of all sizes increasingly perform a broader variety of tasks than in the past.

Another change in these occupations is the growing use of financial software to enter and manipulate data. Computer programs automatically perform calculations on data that were previously calculated manually. Computers also enable clerks to access data within files more quickly and even generate statements automatically. Nevertheless, most workers still keep backup paper records for research, auditing, and reference purposes, although a paperless office is increasingly the goal for many organizations.

Despite the growing use of automation, interaction with the public and coworkers remains a basic part of the job for many financial clerks. Payroll clerks, for example, answer questions concerning employee benefits; tellers and gaming cage workers help customers with their financial needs, and procurement clerks often have to deal with an organization’s suppliers.

Because the majority of financial clerks use computers on a daily basis, these workers may experience eye and muscle strain, backaches, headaches, and repetitive motion injuries. Also, clerks who review detailed data may have to sit for extended periods of time.

Most financial clerks work regular business hours. However, since most casinos are open 24 hours a day, gaming cage workers often work in shifts, including nights and weekends. Tellers can work some evenings and Saturday mornings, while bill collectors often have to work evenings and weekends when it is easier to reach people. Accounting clerks may work longer hours to meet deadlines at the end of the fiscal year, during tax time, or when monthly and yearly accounting audits are performed. Billing, bookkeeping, and accounting clerks in hotels, restaurants, and stores may work overtime during peak holiday and vacation seasons.

All financial clerk occupations have some part-time workers, but tellers and bookkeeping, accounting, and auditing clerks have the most with more than one-fourth working part time.

Experience in a related job also is recommended for a number of these positions. For example, cash-handling experience is important for gaming cage workers and tellers. Telemarketing experience is useful for bill and account collectors. For other financial clerks, experience working in an office environment or in customer service is always beneficial. Regardless of the type of work, most employers prefer workers with good communication skills who are computer-literate; knowledge of word processing and spreadsheet software is especially valuable.

Gaming cage workers have additional requirements. They must be at least 21 years old and they are required to obtain a license by the State gaming commission or other regulatory body. In addition to a fee, applicants must provide a photograph and proof of age and residence. A background check is conducted to make sure that applicants do not have a criminal history.

Once hired, financial clerks usually receive on-the-job training. Under the guidance of a supervisor or other senior worker, new employees learn company procedures. Some formal classroom training also may be necessary, such as training in specific computer software. Bill and account collectors generally receive training in telephone techniques, negotiation skills, and the laws governing the collection of debt. Financial clerks must be careful, orderly, and detail-oriented in order to avoid making errors and recognize errors made by others. These workers also should be discreet and trustworthy, because they frequently come in contact with confidential material. Additionally, all financial clerks should have a strong aptitude for numbers.

Bookkeepers, particularly those who handle all the recordkeeping for companies, may find it beneficial to become certified. The Certified Bookkeeper designation, awarded by the American Institute of Professional Bookkeepers, assures employers that individuals have the skills and knowledge required to carry out all the bookkeeping and accounting functions up through the adjusted trial balance, including payroll functions. For certification, candidates must have at least 2 years bookkeeping experience, pass three tests, and adhere to a code of ethics. Collection agencies may require their collectors to become certified by the American Collectors Association (ACA). ACA seminars concentrate on current State and Federal compliance laws. Since most States recognize these credentials, ACA-certified collectors have greater career mobility. Tellers can prepare for better jobs by taking courses offered or accredited by the American Institute of Banking (an educational affiliate of the American Bankers Association) or the Institute of Financial Education (an affiliate of the Bank Administration Institute). These organizations have several hundred chapters in cities across the country and numerous study groups in small communities.

Financial clerks usually advance by taking on more duties in the same occupation for higher pay or by transferring to a closely related occupation. For example, procurement clerks with the appropriate experience often become buyers. Most companies fill office and administrative support supervisory and managerial positions by promoting individuals from within their organization, so financial clerks who acquire additional skills, experience, and training improve their advancement opportunities. With appropriate experience and education, some clerks may become accountants; human resource specialists; or buyers.

Many basic data entry accounting and clerical jobs already have become heavily automated. Productivity has increased significantly, as workers increasingly use personal computers instead of manual entry and time-consuming equipment such as typewriters, adding machines, and calculators. The growing use of bar code readers, point-of-sale terminals, automated teller machines, and optical scanners that record transactions reduces much of the data entry handled by financial clerks. In addition, the use of local area networks also is facilitating electronic data interchange—the sending of data from computer to computer—abolishing the need for clerks to reenter the data. To further eliminate duplicate functions, many large companies are consolidating their clerical operations in a central office where accounting, billing, personnel, and payroll functions are performed for all offices—main and satellite—within the organization. In addition, as more companies merge or are acquired, accounting departments also are usually merged, reducing the number of financial clerks. More companies also are outsourcing their accounting functions to specialized companies that can do the job more efficiently.

Despite the expected slow growth, some financial clerks will fare better than others. The number of gaming cage workers should grow over time as more Indian tribes become involved in gaming. Also, the number of bill collectors is expected to increase as consumer debt continues to rise. The healthcare services industry is expected to hire more financial clerks, particularly billing clerks, to match the explosive growth of this sector and to process the large amounts of paperwork required to process patient claims.

For more information on financial clerks, see the following statements on bill and account collectors; billing and posting clerks and machine operators; bookkeeping, accounting, and auditing clerks; gaming cage workers; payroll and timekeeping clerks; procurement clerks; and tellers.

43-3011.00, 43-3021.01, 43-3021.02, 43-3021.03, 43-3031.00, 43-3041.00, 43-3051.00, 43-3061.00, 43-3071.00