Income auditors or auditing clerks often work in payroll services or as part of company management within hospitality industries. Because many of their duties overlap with those of accountants, having a degree in accounting can be beneficial, although it may not be required.
An income auditor reconciles the daily receipts of resorts, hotels and other hospitality and entertainment venues and also assists in preparing information to go into the company's ledger. These specialized auditing clerks need strong math skills and computer skills, but postsecondary education is not always required. A high school diploma can suffice for many jobs, although some employers prefer college coursework or an undergraduate degree in accounting or hospitality. Prior experience in auditing, finance or general accounting might be needed to work for a luxury establishment.
|Required Education||High school diploma; some college or a degree in accounting or hospitality preferred|
|Other Requirements||Math skills and computer skills; work experience for some positions|
|Projected Job Outlook (2018-2028)||-4% for all bookkeeping, accounting and auditing clerks*|
|Median Salary (May 2018)||$40,240 annually for all bookkeeping, accounting and auditing clerks*|
Source: *U.S. Bureau of Labor Statistics
Income auditors are specialized accounts receivable clerks working in recreation, tourism and hospitality venues like hotels or destination resorts, as well as in restaurants. The U.S. Bureau of Labor Statistics (BLS) estimated that there were more than 1.7 million bookkeeping, accounting and auditing clerks employed in 2018. The BLS additionally reported a median wage of $40,240 for these occupations.
Income auditors record any revenue received by a hotel or resort, which can include guest room fees and payments made by third-party vendors connected with hotel operations or banquet services. Working with a night auditor, they reconcile nightly reports on revenues and prepare accounts receivable information for entry in the property's general accounting ledger.
According to O*Net Online, 65% of accounting and auditing clerks do not have a college degree. However, larger companies with hotels and facilities nationwide might prefer applicants with an associate's or bachelor's degree in accounting or hospitality. Because income auditors work internally with a company and do not file reports with external agencies like the U.S. Securities and Exchange Commission, they don't need to fulfill the accounting education and licensing requirements of certified public accountants.
Luxury resorts and hotels, where receipts might be larger, might require prospective income auditors to have at least some experience in hospitality finance or accounting. Prior auditing experience might come from working as a night auditor. Math and computer skills, particularly with spreadsheets, is necessary, though hotels might train income auditors on the proprietary systems used in the hotel's operation. Being an income auditor also requires keen attention to detail.
Income auditors keep track of the revenue of a facility and ensure that the business follows financial regulations. Although a college degree is not required for these positions, it would likely improve job prospects.