Will “Payment Processor” be Replaced By Robots? 🤔

98% Chance of Automation

“Payment Processor” will almost certainly be replaced by robots.

This job is ranked #671 out of #702. A higher ranking (i.e., a lower number) means the job is less likely to be replaced.

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Job Description

Compute, classify, and record numerical data to keep financial records complete. Perform any combination of routine calculating, posting, and verifying duties to obtain primary financial data for use in maintaining accounting records. May also check the accuracy of figures, calculations, and postings pertaining to business transactions recorded by other workers.

Job Details

The SOC (Standard Occupational Classification) code is 43-3031.00
The Mean Annual Wage in the U.S. is $ 40,220.00
The Mean Hourly Wage is $ 19.00
Currently, there are 1,566,960 people on this job

☝️ Information based on the reference occupation “Bookkeeping, Accounting, and Auditing Clerks”.

Also Known As…

Tasks for “Payment Processor”

Calculate, prepare, and issue bills, invoices, account statements, and other financial statements according to established procedures.
Check figures, postings, and documents for correct entry, mathematical accuracy, and proper codes.
Complete and submit tax forms and returns, workers' compensation forms, pension contribution forms, and other government documents.
Comply with federal, state, and company policies, procedures, and regulations.
Code documents according to company procedures.
Prepare and process payroll information.
Monitor status of loans and accounts to ensure that payments are up to date.
Compute deductions for income and social security taxes.
Reconcile or note and report discrepancies found in records.
Prepare bank deposits by compiling data from cashiers, verifying and balancing receipts, and sending cash, checks, or other forms of payment to banks.
Operate computers programmed with accounting software to record, store, and analyze information.
Compile statistical, financial, accounting, or auditing reports and tables pertaining to such matters as cash receipts, expenditures, accounts payable and receivable, and profits and losses.
Perform financial calculations, such as amounts due, interest charges, balances, discounts, equity, and principal.
Match order forms with invoices, and record the necessary information.
Compile budget data and documents, based on estimated revenues and expenses and previous budgets.
Transfer details from separate journals to general ledgers or data processing sheets.
Calculate costs of materials, overhead, and other expenses, based on estimates, quotations and price lists.
Access computerized financial information to answer general questions as well as those related to specific accounts.
Maintain inventory records.
Operate 10-key calculators, typewriters, and copy machines to perform calculations and produce documents.
Calculate and prepare checks for utilities, taxes, and other payments.
Debit, credit, and total accounts on computer spreadsheets and databases, using specialized accounting software.
Prepare trial balances of books.
Prepare purchase orders and expense reports.
Reconcile records of bank transactions.
Receive, record, and bank cash, checks, and vouchers.
Perform general office duties, such as filing, answering telephones, and handling routine correspondence.
Compare computer printouts to manually maintained journals to determine if they match.
Classify, record, and summarize numerical and financial data to compile and keep financial records, using journals and ledgers or computers.
Perform personal bookkeeping services.

Related Technology & Tools

Financial calculators
10-key calculators
Notebook computers
Ledger sheets
Receipt books
Desktop computers
Image scanners

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