Accounts Receivable Job Profile and Description
The professionals working with accounts receivable department are responsible for managing the accounting of the money that the company has to receive from other companies. Many companies supply goods and get the payment later. So professionals in this facet of accounting jobs are responsible for keeping track of this money and they manage, supervise and implement the entire process of receiving money.
Their job involves preparing reports with exact details of pending money, coordinate between tow companies to receive the money and maintain these receivable accounts.
Accounts Receivable Duties and Responsibilities
The major responsibilities of these professionals are as follows:
- Complete maintenance of receivable accounts with accurate details.
- For calculation of additional amounts like interest, or any sort of convenience charges to be received with actual sum.
- For preparing due date schedules for receiving money and following up with clients regarding money to be received.
- For following the pre-set procedures for receiving money as per company’s laws and regulations.
- For coordinating, establishing good rapport and maintaining good relations with all the companies involved in this kind of transactions with the organization.
- For issuing the receipts and payment received confirmations to the companies after receiving the due amount of money.
- For preparing the periodic reports highlighting all these transactions with their exact details
Accounts Receivable Skills and Specifications
These candidates must possess following skills and qualities:
- They must be good in mathematic calculations and accounting procedures.
- They must give attention to detail, and should have good communication & interpersonal skills.
- They must have good computer knowledge along with excellent knowledge of various accounting software.
- Must possess good knowledge of legal steps that can be taken in case of non-receipt of due funds.
- Must have a good pleasing personality and must be able to maintain good relations with all the clients.
Accounts Receivable Education and Qualification
An accounts receivable professional must possess following academic qualifications to success professionally:
- Bachelors or Master’s degree in accounting, finance, commerce or any other related subject.
- Good knowledge of accounting principles and procedures.
- Knowledge of accounting laws and regulations.
- Should possess any mandatory certifications or credentials required to become certified accountants.
- Elementary working knowledge of accounting software.
Accounts Receivable Salary
The salary for these candidates varies from company to company. The average salary for accounts receivable professionals varies between the range of $30,000 – $60,000 depending on their experience and academic qualifications.