Accounts Receivable Accountant Job Description [Updated for 2024]

accounts receivable accountant job description

In the modern business landscape, the emphasis on Accounts Receivable Accountants has never been greater.

As businesses evolve, there’s an increasing demand for skilled individuals who can efficiently manage, streamline, and safeguard the company’s financial operations.

But let’s delve deeper: What’s truly expected from an Accounts Receivable Accountant?

Whether you are:

  • A job seeker trying to understand the core responsibilities of this role,
  • A hiring manager outlining the perfect candidate,
  • Or simply intrigued by the intricacies of accounts receivable management,

You’re in the right place.

Today, we introduce a customizable Accounts Receivable Accountant job description template, designed for straightforward posting on job boards or career sites.

Let’s get started.

Accounts Receivable Accountant Duties and Responsibilities

Accounts Receivable Accountants are responsible for handling the incoming payments for a company.

Their role is to manage the accounts receivable department and ensure that the company receives payments for goods and services, and records these transactions appropriately.

Their key duties and responsibilities include:

  • Recording and maintaining all payments received in a timely and accurate manner
  • Generating and sending out invoices to customers
  • Following up on unpaid invoices and negotiating payment plans with delinquent customers
  • Reconciling the accounts receivable ledger to ensure all payments are accounted for and correctly posted
  • Verifying discrepancies and resolving clients’ billing issues
  • Processing and recording transactions, adjusting entries, and ensuring financial records are complete and accurate
  • Preparing monthly, quarterly, and annual financial statements related to accounts receivable
  • Establishing and maintaining effective and cooperative working relationships with customers and sales departments
  • Assessing and recommending changes to improve the accounts receivable process
  • Compiling and analyzing financial information to prepare entries to accounts

 

Accounts Receivable Accountant Job Description Template

Job Brief

We are seeking a detail-oriented, thorough, and organized Accounts Receivable Accountant to join our growing team.

In this position, you will manage invoicing, handle missed payments, and ensure that the company’s accounts receivable records are accurate.

Our ideal candidate is familiar with all accounting procedures and can manage daily financial transactions end-to-end.

Ultimately, you will play a vital role in improving and maintaining our company’s financial health and ensuring we process all financial transactions accurately and on time.

 

Responsibilities

  • Process accounts receivable transactions
  • Ensure timely collection of payments
  • Investigate and resolve any irregularities or enquiries
  • Assist in general financial management and analysis
  • Prepare and present reports on accounts receivable status
  • Ensure compliance with company policies and procedures
  • Work with the accounting team to perform annual audits
  • Assist with budget preparation and financial planning processes
  • Perform other accounting duties as assigned

 

Qualifications

  • Proven experience as an Accounts Receivable Accountant or similar role
  • Good understanding of accounting and financial reporting principles and practices
  • Knowledge of accounts receivable and general bookkeeping procedures
  • Proficiency in MS Office, particularly MS Excel, and accounting software
  • Excellent organizational, problem-solving, and communication skills
  • Attention to detail and ability to spot numerical errors
  • BSc degree in Accounting or Finance

 

Benefits

  • 401(k)
  • Health insurance
  • Dental insurance
  • Retirement plan
  • Paid time off
  • Professional development opportunities

 

Additional Information

  • Job Title: Accounts Receivable Accountant
  • Work Environment: Traditional office setting with options for remote work. Some travel may be required for team meetings.
  • Reporting Structure: Reports to the Accounting Manager or Finance Director.
  • Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
  • Pay Range: $50,000 minimum to $70,000 maximum
  • Location: [City, State] (specify the location or indicate if remote)
  • Employment Type: Full-time
  • Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
  • Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does an Accounts Receivable Accountant Do?

Accounts Receivable Accountants typically work in the finance or accounting departments of organizations across various industries.

They can also work for accounting firms, or provide their services as independent contractors.

Their primary responsibility is to manage the money that is owed to the company by its clients.

They record all transactions, post debits and credits, prepare bills and invoices, and arrange payment schedules for their clients.

Accounts Receivable Accountants verify the validity of account discrepancies by obtaining and investigating information from sales, trade promotions, customer service departments, and clients.

They also resolve collections by examining customer payment plans, payment history, credit limits, and coordinating with the collections department.

Accounts Receivable Accountants are responsible for summarizing receivables by maintaining invoice accounts, coordinating monthly transfer to accounts receivable account, and verifying totals.

They also prepare monthly, quarterly, and annual financial reports detailing paid and unpaid invoices and other accounts receivable activity.

Their role also extends to ensuring accuracy and efficiency of operations, processing and monitoring incoming payments, and securing revenue by verifying and posting receipts.

They are vital in maintaining the financial health and cash flow within the organization.

 

Accounts Receivable Accountant Qualifications and Skills

An Accounts Receivable Accountant should possess a mixture of professional skills, personal abilities, and knowledge in financial principles, such as:

  • Strong accounting skills to effectively manage and maintain financial records and transactions.
  • Understanding of Generally Accepted Accounting Principles (GAAP) and financial legislation to ensure all tasks are carried out within legal boundaries.
  • Proficiency in accounting software and Microsoft Office Suite for efficient handling of data and reporting.
  • Excellent numerical skills to ensure accuracy in calculations and financial processes.
  • Attention to detail to spot any discrepancies and errors in accounts and resolve them with speed and accuracy.
  • Excellent communication and interpersonal skills to effectively interact with clients and internal teams.
  • Strong organizational and time management skills to manage multiple tasks and meet deadlines.
  • Ability to solve complex problems, make informed decisions and use sound judgment when addressing accounts receivable issues.
  • Customer service skills to handle client inquiries and disputes professionally and courteously.

 

Accounts Receivable Accountant Experience Requirements

Accounts Receivable Accountants often start their careers with a bachelor’s degree in accounting or a related field.

They may also gain relevant experience through internships or entry-level positions in accounting or finance departments.

Entry-level candidates typically have 1 to 2 years of experience, often obtained through roles such as Accounting Assistant or Bookkeeper, where they gain practical knowledge of basic accounting principles, financial reports, and billing processes.

Candidates with 3 to 5 years of experience usually have a solid understanding of the accounts receivable process, from invoice generation to customer payment.

They are typically skilled in using accounting software and have experience managing customer relationships.

Those with more than 5 years of experience often have a strong background in managing the entire accounts receivable process.

They may have experience in designing and implementing accounts receivable policies and procedures.

These candidates may also have some leadership experience and could be ready for a supervisory or managerial role.

Certain roles may require an Accounts Receivable Accountant to have specific skills or certifications, such as knowledge of a particular accounting software or a Certified Public Accountant (CPA) designation.

 

Accounts Receivable Accountant Education and Training Requirements

Accounts Receivable Accountants typically hold a bachelor’s degree in finance, accounting or a related field.

They need a comprehensive understanding of accounting principles and financial reporting.

Knowledge in software like QuickBooks, Microsoft Excel, and other accounting software may be required.

In-depth knowledge of accounts receivable procedures, as well as proficiency in data entry and accuracy, is essential.

They should also have strong analytical skills to identify and resolve payment discrepancies.

Some positions may require Accounts Receivable Accountants to have a Certified Public Accountant (CPA) or Certified Management Accountant (CMA) certification.

These certifications, although not always required, demonstrate a high level of proficiency in the field and may increase job prospects.

For advancement, some professionals in this role may pursue a master’s degree in finance or business administration (MBA).

This is not typically required but could open up opportunities for leadership roles within a company’s finance department.

Continuing education and staying updated with new financial laws and regulations is important in this role.

Hence, participation in professional development courses or workshops can be beneficial.

 

Accounts Receivable Accountant Salary Expectations

An Accounts Receivable Accountant earns an average salary of $43,500 (USD) per year.

However, this amount can fluctuate based on factors such as years of experience, education, location, and the size and type of the employing company.

 

Accounts Receivable Accountant Job Description FAQs

What skills does an Accounts Receivable Accountant need?

Accounts Receivable Accountants need to have excellent numeracy skills to handle complex calculations and financial data.

They should possess strong attention to detail to ensure accuracy in their work.

Good communication and interpersonal skills are also necessary to liaise with clients and internal teams.

Knowledge of accounting software and spreadsheets is essential.

 

What qualifications should an Accounts Receivable Accountant have?

An Accounts Receivable Accountant should have a Bachelor’s degree in Finance, Accounting, or a related field.

They should also have a sound understanding of accounting principles and practices.

Some employers may prefer candidates with a professional certification such as Certified Public Accountant (CPA) or Certified Management Accountant (CMA).

 

What should you look for in an Accounts Receivable Accountant resume?

In an Accounts Receivable Accountant resume, look for a solid educational background in finance or accounting and relevant work experience in accounts receivable or general accounting.

Proficiency in accounting software and advanced Excel skills are also desirable.

Certifications like CPA or CMA can be an added advantage.

 

What are the daily duties of an Accounts Receivable Accountant?

An Accounts Receivable Accountant typically spends their day processing and monitoring incoming payments, securing revenue by verifying and posting receipts, and performing account reconciliations.

They may also resolve clients’ billing issues and prepare reports detailing accounts receivable status.

 

What qualities make a good Accounts Receivable Accountant?

A good Accounts Receivable Accountant is meticulous, as the role requires high levels of accuracy.

They should also be trustworthy and maintain confidentiality, as they have access to sensitive financial information.

Good problem-solving skills are essential for resolving issues related to client payments and account discrepancies.

They should also have the ability to work under pressure and meet deadlines.

 

Is it difficult to hire an Accounts Receivable Accountant?

The difficulty in hiring an Accounts Receivable Accountant largely depends on the market situation.

There can be challenges in finding candidates with the specific combination of skills and experience needed, especially in a competitive job market.

Employers can attract qualified candidates by offering competitive salaries, good working conditions, and opportunities for professional development.

 

Conclusion

So there you have it.

Today, we’ve illuminated the intricate workings of an accounts receivable accountant.

And guess what?

It’s not just about managing invoices.

It’s about sculpting the financial backbone of a company, one transaction at a time.

With our detailed accounts receivable accountant job description template and practical examples, you’re all set to make your move.

But why stop there?

Explore further with our job description generator. It’s your stepping stone to meticulously crafted listings or refining your resume to perfection.

Remember:

Every transaction is a part of the bigger financial framework.

Let’s shape that future. Together.

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