10 technical skills that you must master for a career in accounting

Accounting is a profession that has been around since 7,000 years ago. Over the millennia, the field of accounting has changed a lot. Today, accounting is a heavily digitized field, where professionals must have a lot of technical skills to make it in the industry.

Whether you are a recent graduate straight out of accounting school or an experienced senior accountant, you need to update your knowledge on the latest technologies and digital tools in the industry. Here are ten technical skills that will add a ton of value to your accounting resume:

1. Spreadsheet proficiency

Spreadsheets are the bread and butter of the accounting industry. An accountant without proficiency in spreadsheets will fare very badly in the field. Highlight how you have used Microsoft Excel for various tasks on your resume. You will need to learn how to use pivot tables, functions, macros, and formulas of spreadsheet editing apps to become an efficient accountant.

2. Cloud computing

Familiarity with cloud computing technology will help you access your data and applications from anywhere in the world. If you are trying to make it out as a remote accountant, this is a great technical skill to nurture. Get acquainted with digital tools such as QuickBooks Online, Xero, and Sage which allow you to collaborate with other professionals in real time.

3. Data analytics

Data analytics have become a crucial component of modern businesses. As an accountant, you should work on your ability to analyze and interpret large sets of data since it is a critical skill for accountants. Familiarize yourself with data analytics tools such as Tableau and Power BI to stand out in the job market.

4. Cybersecurity

Accounting is a profession that involves a lot of private financial data of clients. Data breaches are quite common today. As an accountant, you will benefit from having knowledge about cybersecurity best practices. You can take a course that covers topics such as preventing cyber-attacks, complying with data privacy laws, and protecting sensitive data.

5. Accounting software

Accounting software such as QuickBooks, Sage, and Xero help you become more flexible as an accountant. With these tools, you can easily track financial activities. Learn how to create invoices, generate financial statements, and track expenses using accounting software. It will give you an edge in the job market.

6. Knowledge of ERP systems

Enterprise Resource Planning (ERP) systems are tools that many businesses use to manage their operations. Whether you are working in accounting, inventory, or finance, ERP systems will be important for you. Familiarize yourself with ERP systems such as SAP, Oracle, and NetSuite to be noticed by large-scale employers.

7. Programming languages

Not every accountant will need to know how to write a decent code. However, if you are planning to apply for jobs in tech startups or businesses in their early life cycles, knowledge of programming languages will be beneficial for your job search. If you have experience with Python or R, you can mention them on your resume to get an edge.

8. Mobile technology

More and more businesses are using mobile devices for their daily tasks. Your customers are also mainly engaging with you via mobile devices. Understanding mobile technology will be beneficial for your future as an accountant. Learn how to use your accounting apps and tools on a mobile device to become more efficient as an accountant.

9. Understanding blockchain

Blockchain is a popular topic in the finance industry. It is a digital ledger system used by finance professionals to store financial transactions securely. If you work in an area of accounting that involves tax, auditing, or financial reporting, understanding blockchain will be beneficial for your job search.

10. Artificial intelligence (AI)

AI is changing the way businesses operate. As an accountant, having the knowledge to use and manipulate AI will benefit you. Familiarize yourself with a few AI tools such as machine learning languages and natural language processing. It will help you lessen your workload for the future by automating certain tasks.