Who Are They?
An accounts receivable is someone who has been hired by an organization to ensure that all the customer details in relation to check receipt, discounts and material shipment is accurately done. He does this work by providing administrative, financial and clerical services.The person normally works under direct supervision of a senior finance officer or an accounting supervisor, although this might vary from one organization to another.
Where Do They Work
Accounts receivable clerks can work virtually in any business environments such as insurance firms, financial institutions, trading companies, government departments, learning institution and many other business enterprises where there service are required.Duties and Responsibilities
A very important part of any accounts receivable job description is the duties and responsibilities that these professionals perform. The list of duties and responsibilities may slightly vary from one place to another depending on what organization they work as well as what position they hold.Some common responsibilities that cut across all the accounts receivable include the following:
- Billing system maintenance and updating
- Collection, allocation and following up payments as well as generating invoices and other documents of payment, and ensuring that they are received by customers
- Do account reconciliations, adjustment of process as well as bank deposits
- Keeping an eye on the account details of customers who are delaying, non paying as well as any irregularities
- Maintaining customers’ files for accounts receivable
- Communicating with customers via the different channels of communications such as email, telephone calls, and mails or in person
- Investigation and resolution of queries that customers may be having
- Coming up with the recovery system and starting collection efforts
- Carrying out clerical office jobs such as printing, scanning, typesetting, photocopying and other day-to-day activities that will ensure smooth running of the office
- Verification of information on checks including signatures as well as maintaining checks that have been cancelled
- Ensuring financial security by adhering to internal accounting procedures and controls as well as securing information databases through backups
Academic and Training Requirements
According to the information provided by the U.S BLS, most of the accounts receivable have the minimum qualification of a GED certification or a high school diploma and this is what many employers ask for.In addition to that, most of the accounts receivable get their training while in their working environments though they are expected to have the following qualification:
- Have done relevant courses in accounting
- Have a good grasp of computer bookkeeping software such as QuickBooks, Microsoft Excel and many others.
- Office administration knowledge
Other important qualifications may include having an associate degree in bookkeeping and accounting by taking relevant programs and be certified.
Accounts receivable clerks who have been certified by the American Institute of Professional Bookkeeper are better placed and will earn competitive salaries.
Another certifying body is the International Accounts Receivable Professionals, which is currently working on a curriculum and programs for accounts receivable professionals.
Skills Needed
In addition to the academic qualifications that are required for one to be hired as an accounts receivable, he or she should possess the following:- Be attentive and accurate to every detail
- Have excellent interpersonal skills
- Good verbal communication skills
- Be organized
- Have good decision making,
- Have excellent problem solving and conflict resolution skills
- Be able to work under pressure and have tenacity
- Salaries and Wages of Accounts Receivable
According to data from PayScale.com, the average earning of accounts receivable personnel is $13.44 per hour, which translates to about $28,000 per annum assuming people work for 40 hours per week.
Specialized accounts receivable earn a slightly higher hourly pay of $15.40 or an equivalent of $32,000 per year.
Data from the US Bureau of Labor Statistics estimates that around half the number of accounts receivable professionals earned salaries that were ranging from $26,350 to $40,130 yearly in 2008. The top payers were railroad, investment and tobacco firms.
From this accounts receivable job description, it should be clear that accounts receivable is a well paying job opportunity compared to account jobs of similar caliber such as bookkeeping. In addition to that, the job does not require very high qualification.