Accounts Receivable Job Description: What is Accounts Receivable?
A typical Accounts Receivable Job Description details the duties, skill requirements and purpose of a position in the billing services department of an organization. If you wish to apply for a clerk or specialty career in this area with the company of your choice, you will likely need to meet a strict list of criteria that help employers determine how well you will be able to perform your designated tasks. While educational requirements will vary from company to company, having the right skill set for the job is key.
“What is Accounts Receivable?” you might find yourself asking. This part of an organization involves handling the financial arrangements of client accounts in order to make sure all outstanding invoices are paid accurately and on time.
Billing a customer for an exchange in services or material goods does not always go smoothly, with potential delays in payment, computer errors, bank transaction difficulties and other issues getting in the way. Paying current employees, too, cannot simply be left to an automated computer program.
An accounts receivable department is wholly responsible for collecting owed money and applying it toward a company’s own bills. Workers in this department may include collectors and cashiers, or clerks assigned to both administrative tasks.
Any Accounts Receivable Job for which you may want to apply will always include responsibilities in taking in revenue and paying off billed invoices, which is performed through a series of transaction processes. Common accounts receivable duties involve information gathering tasks, such as sorting through related documents to get all available knowledge about an account, and verifying account details.
Once all information is obtained, clerks compute the necessary charges and mail out invoices. They handle all refunds and follow through on delinquent accounts. This typically requires long hours spent in front of a computer, checking and double-checking transaction details to avoid common errors.
Accounts Receivable or accounts payable clerks are also in charge of scheduling company payments and getting authorization for them. Financial reports prepared by individuals in this particular type of job provide detailed analyses of account trends and other information.
They are also in charge of account ledgers, which list each transaction and any discrepancies within for easy reference. Most Accounts Receivable Duties also include backing up financial databases, keeping records and preparing bank deposits. You may also be asked to keep up customer communications by telephone or email in order to resolve account issues.
Any average Accounts Receivable Job Description will include a list of required skills and work experience the company would like to see in its applicants. Many companies look for individuals with good attention to detail, excellent interpersonal and communication skills, and a talent for organization, decision-making, negotiation and conflict management.
These skills are helpful for positions like this, which combine mathematical calculations with customer service work. However, these will not be enough to land you the job. You will also need to be knowledgeable about the most current financial software, data entry, general math, office administration, and bookkeeping. Some companies also require several years of work experience in accounting and a college education.