Job prospects Remittance Accounts Clerk in Ontario

Job opportunities for Accounting and related clerks (NOC 1431) are fair in Ontario over the next 3 years. These job prospects are also applicable to people working as a remittance accounts clerk.

Note: These employment prospects were published in December 2021 based on the information available at the time of analysis. The next update will be in December 2022. To learn more, see our FAQs. You can also find additional information on the Canadian Online Job Posting Dashboard.

Job opportunities in Ontario

remittance accounts clerk
Prospects over the next 3 years
Fair

The employment outlook will be fair for Accounting and related clerks (NOC 1431) in Ontario for the 2021-2023 period.

The following factors contributed to this outlook:

  • Employment growth will lead to a moderate number of new positions.
  • Several positions will become available due to retirements.
  • There are a moderate number of unemployed workers with recent experience in this occupation.

What Types of Employers Are Out There?

  • Employed across most industries with the leading share in accounting, tax preparation, bookkeeping and payroll services.

What are the Main Trends Affecting Employment?

  • Ongoing need for accounting services and financial recording across businesses and departments will support work in this occupation.
  • Improved economic growth expected over the forecast period will support overall business activity.
  • Greater use of technology to manage invoicing, billing and accounts may temper job growth and change some job functions.

What Skills Do I Need to Succeed?

  • Completion of college or industry courses in accounting or finance or several years of related experience may be preferred.
  • Proficiency in accounting software like QuickBooks is usually required along with the ability to use Microsoft Office Suite, particularly Microsoft Excel.

What Other Information Will I Find Helpful?

  • Part-time work is relatively common in this occupation.
  • Ability to work longer hours at the end of financial reporting periods and during the federal tax season may be required.

Here are some key facts about Accounting and related clerks in the Ontario region:

  • Approximately 59,150 people work in this occupation.
  • Accounting and related clerks mainly work in the following sectors:
    • Accounting, tax preparation, bookkeeping and payroll services (NAICS 5412): 13%
    • Wholesale trade (NAICS 41): 9%
    • Other retail stores (NAICS 44-45, except 445): 7%
    • Monetary Authorities - central bank and securities, commodity contracts and other intermediation and related activities (NAICS 521, 522, 523): 7%
    • Construction (NAICS 23): 5%
  • The distribution of full-time and part-time workers in this occupation is:
    • Full-time workers: 87% compared to 79% for all occupations
    • Part-time workers: 13% compared to 21% for all occupations
  • 71% of accounting and related clerks work all year, while 29% work only part of the year, compared to 63% and 37% respectively among all occupations. Those who worked only part of the year did so for an average of 30 weeks compared to 31 weeks for all occupations.
  • 6% of accounting and related clerks are self-employed compared to an average of 12% for all occupations.
  • Breakdown by region

    Explore job prospects in Ontario by economic region.

    Legend: The job opportunities can be: Undetermined Limited Fair Good

    Source Labour Market Information | Prospects Methodology

    To view this data on a map, go to: LMI Explore

    Labour market conditions over the next 10 years

    We expect that the labour supply and demand for Accounting and related clerks (NOC 1431) will be balanced in Canada over the next 10 years.

    Learn more

Labour Market Information Survey
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