Accounts Receivable Consultant Job Description [Updated for 2024]

accounts receivable consultant job description

In the world of finance, the significance of Accounts Receivable Consultants is becoming increasingly prominent.

As businesses grow and financial transactions multiply, the need for proficient professionals who can manage, analyze, and optimize accounts receivable operations is more critical than ever.

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

Whether you are:

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

You’re in the right place.

Today, we present a customizable Accounts Receivable Consultant job description template, designed for effortless posting on job boards or career sites.

Let’s dive right in.

Accounts Receivable Consultant Duties and Responsibilities

Accounts Receivable Consultants are primarily responsible for managing and overseeing the accounts receivable process of a company or organization.

They ensure that all financial transactions are accurately recorded, and that payments are received on time.

They have the following duties and responsibilities:

  • Monitor and analyze customer accounts to ensure timely payment of invoices
  • Resolve invoice discrepancies and client inquiries to ensure customer satisfaction
  • Process and verify applications for credit and set up new accounts
  • Create and maintain credit history files to keep track of the financial standing of customers
  • Provide regular reports to management detailing the financial health of customer accounts
  • Collaborate with the sales team to set credit limits for customers based on their payment history and financial health
  • Ensure all transactions are conducted in accordance with company policies and procedures
  • Perform month-end closing processes, including the preparation of monthly accounts receivable statements
  • Assist in the development and implementation of accounts receivable policies and procedures

 

Accounts Receivable Consultant Job Description Template

Job Brief

We are seeking a detail-oriented Accounts Receivable Consultant to manage and oversee our billing operations.

Your responsibilities will include managing invoices, handling missed payments, and ensuring financial security for our company.

Our ideal candidate has a solid understanding of accounting principles, fair credit practices, and collection regulations.

Proficiency in relevant software programs, such as MS Office Suite, QuickBooks, and any database management system, is also desirable.

Ultimately, the role of the Accounts Receivable Consultant is to guarantee that our company receives payments for goods and services, and records these transactions accordingly.

 

Responsibilities

  • Process accounts and incoming payments in compliance with financial policies and procedures
  • Perform day-to-day financial transactions, including verifying, classifying, computing, posting and recording accounts receivables’ data
  • Prepare bills, invoices, and bank deposits
  • Reconcile the accounts receivable ledger to ensure that all payments are accounted for and properly posted
  • Verify discrepancies and resolve clients’ billing issues
  • Facilitate payment of invoices due by sending bill reminders and contacting clients
  • Generate financial statements and reports detailing accounts receivable status

 

Qualifications

  • Proven working experience as Accounts Receivable Clerk, Accounts Receivable Manager or accountant
  • Solid understanding of basic bookkeeping and accounting payable principles
  • Proven ability to calculate, post and manage accounting figures and financial records
  • Data entry skills along with a knack for numbers
  • Hands-on experience in operating spreadsheets and accounting software (JDE or other full-scale ER software)
  • Proficiency in English and in MS Office
  • Customer service orientation and negotiation skills
  • High degree of accuracy and attention to detail
  • BS degree in Finance, Accounting or Business Administration

 

Benefits

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

 

Additional Information

  • Job Title: Accounts Receivable Consultant
  • Work Environment: Office setting with options for remote work. Some travel may be required for team meetings or client consultations.
  • Reporting Structure: Reports to the Accounting Manager or Financial Controller.
  • Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
  • Pay Range: $56,000 minimum to $85,000 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 Consultant Do?

Accounts Receivable Consultants work in finance or accounting departments of various organizations or as members of financial consulting firms.

They are responsible for managing the money that is owed to the company from its customers.

They maintain accurate records and track all unpaid invoices, and ensure prompt and regular payments are made.

They liaise with customers to resolve any billing and payment discrepancies, and interact closely with the sales and customer service departments to ensure all transactions are accurately recorded.

Accounts Receivable Consultants are also responsible for initiating collection procedures on outstanding accounts or bad debts.

They may need to negotiate payment plans, handle complaints and queries, and maintain customer relationships.

Further, they provide reports and updates to management on the status of receivables, identify issues affecting collections, and propose strategies to mitigate those problems.

Additionally, they may also be involved in implementing or improving accounts receivable processes and systems to increase efficiency and accuracy.

 

Accounts Receivable Consultant Qualifications and Skills

An Accounts Receivable Consultant should possess a combination of technical skills, attention to detail and communication abilities to effectively manage a company’s receivables, such as:

  • Strong financial acumen and understanding of accounting principles, particularly around accounts receivable, to correctly process transactions and maintain accurate records.
  • Proficiency in various accounting software and applications to manage invoicing, payments, and reporting.
  • Ability to analyze financial data and create reports to provide insights on the company’s accounts receivable status.
  • Excellent attention to detail to ensure accuracy in all financial transactions and to identify any discrepancies or anomalies.
  • Superior organizational skills to manage multiple accounts and ensure timely collection of payments.
  • Strong communication skills to interact with customers or clients, negotiate payment plans, and resolve any disputes or issues.
  • Problem-solving abilities to identify and resolve issues that might impact the collection of receivables.
  • Understanding of relevant financial regulations and standards to ensure compliance in all transactions and procedures.

 

Accounts Receivable Consultant Experience Requirements

Accounts Receivable Consultants typically require a minimum of 3 to 5 years of experience in the accounting field, particularly with a focus on accounts receivable.

This experience can be obtained through full-time positions or internships in accounting roles.

Candidates should have a strong understanding of accounting principles and be well-versed in accounts receivable procedures.

Experience with accounting software and tools, such as QuickBooks or Excel, is also essential.

Candidates with more than 5 years of experience often have a solid foundation in managing relationships with clients, dealing with late payments, and maintaining accurate records.

They might also have experience in setting up payment plans and negotiating with clients.

Those with over 7 years of experience may have leadership experience, such as managing a team of accounts receivable clerks.

They may also have experience in implementing new systems and processes to improve efficiency and accuracy in accounts receivable management.

It’s also important to note that while on-the-job experience is crucial, many employers also value formal education in a related field, such as a bachelor’s degree in accounting, finance, or business administration.

 

Accounts Receivable Consultant Education and Training Requirements

An Accounts Receivable Consultant generally requires a bachelor’s degree in accounting, finance or a related field.

They are expected to have a comprehensive understanding of accounts receivable principles and practices, as well as experience in dealing with financial data and producing relevant reports.

A strong background in using accounting software and tools is also necessary.

Familiarity with specific software like QuickBooks, Microsoft Excel, and SAP can be beneficial.

Some positions may require the consultant to be a Certified Public Accountant (CPA) or to have similar professional accounting certifications.

These certifications require additional study and passing a series of exams.

In addition to formal education and certification, many organizations prefer candidates with a few years of experience in finance, accounting, or a related field, especially in roles dealing with accounts receivable.

Continued professional development is also recommended in this role, as it keeps the Accounts Receivable Consultant updated with the latest practices, laws, and tools in the field.

This could be achieved through workshops, short courses or seminars.

Having an advanced degree, such as a master’s in finance or business administration, can provide an advantage for those seeking higher-level consultant positions or roles in larger organizations.

 

Accounts Receivable Consultant Salary Expectations

An Accounts Receivable Consultant can expect to earn an average salary of $57,000 (USD) per year.

However, this figure can fluctuate based on the individual’s experience, qualifications, the size and type of the company, and the location of the job.

 

Accounts Receivable Consultant Job Description FAQs

What skills does an Accounts Receivable Consultant need?

Accounts Receivable Consultants should possess strong analytical and problem-solving skills to accurately manage invoices and payments.

They should have a solid understanding of accounting principles and software.

Excellent communication and interpersonal skills are also needed as they often liaise with customers and other departments within the organization.

 

Do Accounts Receivable Consultants need a degree?

Most positions require an Accounts Receivable Consultant to have a bachelor’s degree in finance, accounting, or a related field.

Some roles may prefer candidates with a master’s degree or Certified Public Accountant (CPA) certification.

Experience in accounting or finance, specifically in accounts receivable, is typically required.

 

What should you look for in an Accounts Receivable Consultant’s resume?

Look for a solid background in accounts receivable or finance, demonstrated by relevant work experience.

Proficiency in accounting software and Microsoft Office, particularly Excel, should be highlighted.

Additionally, check for a degree in accounting or a related field.

Any certifications like the Certified Accounts Receivable Professional (CARP) or Certified Credit & Collection Professional (CCCP) would be a plus.

 

What qualities make a good Accounts Receivable Consultant?

A good Accounts Receivable Consultant is meticulous and accurate, with a strong attention to detail.

They must possess excellent problem-solving skills and be able to make sound financial decisions.

Strong communication and interpersonal skills are also important, as they often have to liaise with customers, resolve disputes and work within a team.

They should also be proactive, able to anticipate issues before they arise and propose effective solutions.

 

Is it challenging to hire Accounts Receivable Consultants?

Hiring Accounts Receivable Consultants can be challenging due to the specialized skills and knowledge required for the role.

Moreover, the role requires a unique blend of technical knowledge, analytical skills, and interpersonal abilities, which can be hard to find in one candidate.

However, with a thorough selection process and attractive job benefits, you can find the right candidate for the position.

 

Conclusion

So there you have it.

Today, we’ve unveiled the true nature of being an Accounts Receivable Consultant.

And guess what?

It’s not just about managing invoices.

It’s about shaping the financial health of a company, one invoice at a time.

With our handy Accounts Receivable Consultant job description template and real-world examples, you’re ready to step into the game.

But why stop there?

Dive deeper with our job description generator. It’s your next step to creating accurate job listings or refining your resume to perfection.

Remember:

Every invoice managed is a part of the company’s financial future.

Let’s shape that future. Together.

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