5 Types of Businesses That Need Accountants

Business That Employ Accountants

  • Colleges and Universities
  • Government Agencies
  • Health Care Providers
  • Hospitality Businesses
  • Retail Stores

Many types of businesses need accountants to audit their finances and balance their books on a daily basis. The types of companies that employ accountants all have a few things in common. They deal with complex financial systems, high-volume transactions, or both. You can always find an available accounting position in one of these high-demand industries.

1. Colleges and Universities

Colleges and universities have complex financial systems that require a staff of knowledgeable accountants and bookkeepers to ensure that revenue and expenses are in order, according to Business News Daily. These institutions are usually on the look-out for new talent to add to their teams, so you can always apply for a position as a bookkeeper for a university financial department. Whether you have years of experience or you’re just starting out, you can find a place on one of these teams. As a university accountant, you’ll be responsible for ensuring that funding is sufficient for the institution’s various departments and that financial aid covers the expenses of college tuition.

2. Government Agencies

Government agencies are another type of business that requires high-precision accounting to ensure that revenue and expenditures are accurately recorded. These institutions are so large and numerous that you can always find job openings at the city, state, or federal level. When you work for a government agency, you’ll be responsible for balancing the financial records for various programs and initiatives in the purview of the agency. Your role could be to track the funding for a program or to ensure that it doesn’t spend more money than it has. Some examples of government agencies that need accountants are the Department of Motor Vehicles, City Hall, your state capitol, and the Internal Revenue Service.

3. Health Care Providers

Health care providers work with insurance agencies to finance medical care for patients. They need accountants to ensure that enough revenue comes into the company to continue providing health care for patients in their registrar. With the increased importance of health care providers in the federal insurance marketplace, you should have ample employers to choose from in your search for an accounting position at one of these companies. Your job will be to work directly with insurance companies to ensure that the revenue coming into your organization meets or exceeds the expenses going out in the form of health care services.

4. Hospitality Businesses

Every restaurant, hotel, and motel needs an in-house staff of accountants and bookkeepers to perform overnight auditing and submit financial reports to a manager on a daily basis. These businesses perform hundreds or thousands of transactions every day, so dedicated accountants are needed to ensure that all expenses have been paid for and the revenue coming into the business covers its financial obligations. You can easily find hospitality businesses in need of accountants of all experience levels.

5. Retail Stores

Because retail stores perform a high volume of transactions every day, they need accountants on the payroll to audit their finances on a daily basis. If you choose to work in a retail environment, be prepared to begin your work at night and leave your job early in the morning. Retail stores need bookkeepers to keep their expenses and revenue balanced throughout the year. They also need accountants on-hand to collect their receipts and other financial records when tax time rolls around. In a retail environment, accountants also aid in calculating employee payroll.

Related Resource: What is a Tax Auditor?

As you can see, the industries that hire accountants are highly diverse and prestigious. When you’re searching for a company that needs bookkeepers and accountants, these ideas should provide a good starting point for your search.