what does an accountant do?
As an accountant, you play a key role within your company, or for several companies if you work in a practice: you are the guarantor of the financial health of the organisations that entrust you with their accounts.
what is your mission as an accountant?
The accountant’s primary mission is to maintain the accounts of the company for which they work. They record expenditure, income and accounting transactions. They process invoices and prepare official documentation. They prepare payslips, follow up on overdue payments and prepare the year-end closing of the annual accounts. An accountant may also work for several small businesses within an accountancy practice.
In larger organisations, they may specialise in management accounting, cost accounting, controlling or chartered accountancy. They work independently or as part of a team, in an office-based role with a strong focus on digital and calculation tools. This finance professional therefore also masters office and accounting software.
Does the work of an accountant align with your rigour, logical and mathematical mindset, and passion for numbers? Discover which skills and qualifications you need to become an accountant.
explore our vacanciesaverage salary for an accountant.
In Luxembourg, the salary of an accountant is generally around €3,250 per month for an entry-level profile (qualified social minimum wage) and €7,000 to €8,000 for an experienced professional and/or a chartered accountant.
which factors determine salary in an accountant role?
Specialised training and work placements in business help secure a higher starting salary at the beginning of your career. Company size is a key factor in an accountant’s pay, as are experience and upskilling. Whether in the public sector, a private company or an accountancy practice, accountants often benefit from additional perks such as a 13th-month payment, meal vouchers or profit-sharing bonuses. Here too, large companies tend to offer the most attractive packages. The geographical location of the role also matters.
types of accountant roles.
There are various types of accountant roles, such as:
- accounts officer in a small or medium-sized enterprise with a versatile remit, handling all
- accounting tasks
- accounts receivable accountant in a large company, responsible exclusively for customer accounts and their control
- accounts payable accountant specialising in purchasing-related transactions
- credit controller in larger organisations, responsible for recovering unpaid invoices
- chief accountant supervising a team of professionals, in a practice, a public body or a large company
working as an accountant.
Reporting to the head of the company in a small structure or to the head of finance in a large group, the accountant is often seen as a solitary worker, as the role requires a high degree of autonomy. However, as an accountant you are also in constant, direct contact with the company’s management and its various departments. Learn more about the accountant’s day-to-day work, working time arrangements and career prospects.
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tasks and responsibilities
In a role with significant responsibility, the accountant’s day is structured by numerous tasks:
- processing customer and/or supplier invoices, checking settlement, and following up on late payments
- recording all transactions in the accounting ledgers
- entering commercial and asset data into dedicated software
- calculating depreciation and provisions
- preparing tax and social security returns and, often, employee payslips
- maintaining relationships with client companies to ensure accounting, tax and social security follow-up, where the accountant works in a practice
- producing the monthly position of all accounts for the company or client companies
- preparing profit and loss accounts, operating accounts, trial balances, etc.
- submitting all summary documents to the chartered accountant responsible for validating the company’s accounts
- monitoring developments in tax and social regulations
- calculating full and partial costs from general ledger data as part of a management/cost accounting role
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working environment
As an accountant, you work in an office, alone or with colleagues. Most of your time is spent on a computer, as the profession makes extensive use of IT tools. You are nevertheless in regular contact with various stakeholders in the company, for example purchasing, sales and human resources.
Many employers in Luxembourg also allow their accountants to work from home for a few days.
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who are your colleagues?
Depending on your employer, your colleagues may include management controllers, bankers and chartered accountants. You may also work with payroll administrators and other specialists, such as auditors.
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work organisation
An accountant typically works 40 hours per week, 5 days out of 7, with standard office hours. As meeting deadlines is one of the main priorities, overtime may be required. Nevertheless, as an accountant you generally benefit from weekends and public holidays, except in exceptional circumstances.
In addition, there is systematically a workload peak at year-end when preparing companies’ annual accounts. This legal and administrative requirement usually leads accountants to work many extra hours during this period, and the 40-hour weekly limit is often exceeded. In such cases, overtime is tax-exempt.
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career progression
Over the years, an accountant’s responsibilities may become more specialised, for example in management accounting or cost accounting. In a large company, you can also climb the ladder to roles such as chief accountant, management controller or even Chief Administrative and Financial Officer (CFO/DAF). If you work in a practice, you can move towards auditing, focusing on analysing the accounting and financial operations of organisations. Further upskilling and professional experience can lead to chartered accountant roles, with responsibility for verifying and validating all accounts. After several years in the profession, you may also set up your own practice.
getting an accountant role with randstad.
When you search for your accountant role with Randstad, you benefit from attractive advantages, such as:
- a wide variety of companies to work in and development opportunities
- an experienced point of contact to support you when needed
- a broad range of opportunities in your sector
- weekly or monthly pay depending on the assignment
- permanent contracts (CDI), fixed-term contracts (CDD) and temporary assignments
Looking to be hired on a CDI (permanent contract)? In many cases, working in a temporary assignment as an accountant is a first step and acts as a springboard to obtaining a permanent contract. Many companies also recruit employees on a CDI via Randstad.
education and skills.
To become an accountant in Luxembourg, it is essential to obtain the appropriate diplomas and certificates recognised by the Luxembourg authorities. The educational pathway involves rigorous, specialised training in accounting, taxation and finance. The following are the types of diplomas and certificates required to become an accountant in Luxembourg:
- BTS (bac +2 or 2 years of higher education) in accounting and management
- BUT specialised in management and accounting (bac +3 or 3 years of higher education)
- Professional bachelor’s degree in management and accounting (bac +3 or 3 years of higher education)
- DCG (bac +3 or 3 years of higher education)
- DSCG (bac +5 or 5 years of higher education)
- DEC (bac +5 or 5 years of higher education + 3 years in a chartered accountancy firm)
Continuing education and professional certifications: once the core diploma or certificate has been obtained, it is important to continue training throughout your career. Continuing education programmes and specific professional certifications, such as those offered by the Ordre des Experts-Comptables du Luxembourg (OEC), may be necessary to keep up to date with developments in the accounting profession.
know-how and competencies.
An accountant deploys multiple job-related competencies and also brings various personal qualities, including:
- excellent knowledge of accounting, tax and legal standards, including labour law, company law, the Public Procurement Code, etc.
- mastery of IT, office applications, accounting and tax software, and payroll applications
- understanding of the employer’s, or client companies’, strategy, in order to prepare forecasts
- strong command of English, as well as European and international regulations, essential for companies operating cross-border
- high levels of rigour and outstanding organisational skills
- strong analytical and summarising ability
- capacity to work autonomously combined with solid interpersonal skills
- strong stress resilience, particularly during year-end closing periods
FAQs
FAQ about the accountant profession
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does the accountant profession offer varied opportunities?
Every company, regardless of size, every local authority or other public body, as well as major associations, requires the services of an accountant. The profession is therefore practised in varied settings, with a consistently dynamic job market.
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is being an accountant a rewarding job?
As an accountant, you have, in a way, your company’s future in your hands: there is no room for error. You contribute to the organisation’s financial health, the implementation of its strategy and the development of its activities. It is therefore a role with significant responsibility and highly rewarding for those who perform it.
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are the studies to become an accountant difficult?
From the different branches of accounting to codes and regulations, and to IT tools, the accounting student must assimilate a great deal of knowledge across a range of subjects. Higher education leading to the accounting profession requires consistency and rigour, qualities that are equally important in practice.
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how do you apply for an accountant position?
Applying is straightforward: create a Randstad account and browse the vacancies in your sector, then send us your CV and cover letter.
