Accounts Receivable Job Description

Accounts Receivable Job Description – Accounts Receivable (AR) professionals are the gatekeepers of a company’s financial well-being, managing any incoming payments and recording all transactions correctly. We have provided a sample job description that details the responsibilities, qualifications, and skills of an accounts receivable position.

1. Job Overview: An Accounts Receivable Clerk or Specialist is responsible for managing the company’s incoming payments; they also ensuring that outstanding invoices are paid on time. This role works directly with our customers, and internal teams to identify and rectify payment variances ensuring up-to-date financial records.

Responsibilities of Accounts Receivable Job Description

a. Invoicing:

• Create and send invoices to customers quickly and efficiently.
• Make sure invoices are accompanied by proper documents and sent to the right address

b. Payment Processing:

• Extended the payments of money made by credit cards, checks and electronic cash collections
• Accurately record payment transactions in the accounting system and reconcile variances.

c. Accounts Reconciliation:

• Reconcile accounts receivable ledger to ensure that all payments are accounted for and properly posted.
• Responsible for researching and solving any discrepancies or errors on customer accounts.

d. Collections:

• Track overdue accounts, and follow-up with customers for recovery of outstanding payments.
• Keep in touch with clients about payment arrangements and work out payment plans as needed.

e. Reporting:

• Produce periodic reports about AR position, Aging analysis with expected cash flow statements
• Give economic data and examination to the Board for use in settling on choices.

f. Customer Service:

• Respond timely and professionally to customer queries and billing disputes
• Create & execute ways to get to know existing clients who owe money, so they will feel more compliant with your request for payment

Accounts Receivable Job Skills Required:

a. Attention to Detail:

• Ability to process vast numbers of transactions perfectly and keep clean records

b. Communication Skills:

• Strong verbal and written communication to communicate with customers and internal teams.

c. Organizational Skills:

• Ability to multitask and prioritize work in order to meet deadlines.

d. Analytical Skills:

• Skill in examining and interpreting financial data to detect trends, inconsistencies.

e. Problem-Solving Abilities:

• Problem-solving skills to address payment disputes and work with customers on recouping past-due balances.

f. Technical Proficiency:

• Ability to work with Accounting software and understanding of data analysis and reporting where Microsoft Excel is used.

Accounts Receivable Job Qualifications:

a. Education:

• Bachelor’s preferred, with additional coursework in accounting, finance or related fields
• Relevant certifications: could include Certified Accounts Receivable Professional (CARP) for e.g.

b. Experience:

• Accounts receivable experience similar financial background usually needed.
• A working knowledge of accounting principles and practices

c. Software Proficiency:

• Skilled in any accounting software (QuickBooks, SAP or Oracle).
• Strong ability in writing VBA scripts for data analysis and report generation within Microsoft Excel

d. Industry Knowledge:

• A knowledge of the account receivable industry and how it works in tandem with compliance standards.

i. Service i.e. Customer Service Experience:

• Customer service or client facing roles to help you professionally and efficiently manage customer inquiries, complaints.

5. Career Growth Opportunities: Accounts Receivable — A strong foothold to step ahead in accounting and finance domain

• Then working their way up to roles such as Accounts Receivable Supervisor, Credit Manager, to Financial Analyst in more advanced stages of your credit career.
• Additional education and certifications related to the field can increase career options, as well as opportunities for progression.

6. Work Environment: Accounts Receivable professionals are office based generally.

• They work closely with coworkers in the finance and accounting department as well as customer service.
• Some roles may be flexible and require work overtime or remote, including during the month end, or y/e closing period

7. The role of accounts receivable:

• Timely and efficient collections are the key to a company’s successful cash-flow management and overall financial health.
• Collecting payments on time reduces the chances of bad debts and contributes to the increased liquidity of the organization as a whole.
• Detailed accounts receivable records help determine how well a business is running financially, and making sure your company can count on those funds to make informed decisions.

Accounts Receivable Job Description The role of an AR professional is very critical to the financial management operations of the company as they are responsible for collecting on payments, and recording transaction data. An individual in this capacity helps to maintain the overall financial health and success of the organization due to his or her strong attention to detail, communication skills, and knowledge of accounting principles. Accounts receivable represents a strong role in a company where staff can explore opportunities for professional career progression and advancement in the field of finance and accounting, making it an appealing option for anyone looking at lucrative career tracks.

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