How to Be Accounts Receivable Bookkeeper - Job Description, Skills, and Interview Questions

Accounts Receivable Bookkeepers are responsible for providing financial, administrative and clerical services. They prepare and process invoices, manage customer accounts, process payments and maintain financial records. The accuracy of their work has a direct effect on the organization's financial health, as incorrect calculations or missed payments can result in losses for the business.

Accounts Receivable Bookkeepers must be familiar with accounting principles, financial regulations and excellent customer service skills in order to be successful. By ensuring accuracy in their work and providing excellent customer service, Accounts Receivable Bookkeepers can make a positive impact on the company's bottom line.

Steps How to Become

1. Obtain a high school diploma or equivalent. Most employers require a minimum of a high school diploma or GED to become an accounts receivable bookkeeper.
2. Consider taking some basic accounting classes. These classes can help you to better understand the basics of accounts receivable bookkeeping and provide a foundation of knowledge to build upon.
3. Pursue post-secondary education in accounting or business, if desired. Although not required, having a college degree can be beneficial for those looking to become an accounts receivable bookkeeper, as it will show potential employers that you have the necessary skills and knowledge to do the job.
4. Gain experience in bookkeeping. Look for internships or entry-level bookkeeping positions to gain experience in the field.
5. Get certified. Obtaining certification as a professional bookkeeper can help to give you an edge over other applicants when looking for jobs. The American Institute of Professional Bookkeepers offers a Certified Bookkeeper credential, which requires passing an exam and meeting certain educational and experience requirements.
6. Search for an Accounts Receivable Bookkeeper position. There are many job postings on online job boards and in newspapers for this position. Make sure to tailor your resume and cover letter to the job you are applying for and highlight any relevant experience or certifications.

Accounts Receivable Bookkeepers are responsible for maintaining accurate records of customers’ accounts and ensuring timely payments. To be reliable and capable in this role, they must possess many skills and attributes. First, they must be organized and detail-oriented to ensure that all transactions are accurately recorded and tracked.

They must be able to work with a variety of software and databases to accurately manage customer accounts. they must have excellent communication skills to effectively communicate with customers and other stakeholders. Finally, they must have the ability to stay calm under pressure and remain focused in the face of challenging situations.

By having these skills, Accounts Receivable Bookkeepers can successfully maintain accurate records, ensure timely payments, and build strong relationships with customers.

You may want to check Chief Bookkeeper, Payroll Bookkeeper, and Part-time Bookkeeper for alternative.

Job Description

1. Prepare and enter customer invoices and credit memos.
2. Process customer payments in a timely manner.
3. Monitor customer accounts for past due balances and follow up on collection efforts.
4. Reconcile customer accounts.
5. Establish payment plans with customers as necessary.
6. Respond to customer inquiries regarding their accounts.
7. Prepare monthly statements for customers.
8. Generate financial reports as necessary.
9. Maintain accurate records of customer account balances.
10. Review and apply customer deductions and credits to their accounts.
11. Assist with month-end close process.
12. Maintain good working relationships with customers.

Skills and Competencies to Have

1. Extensive knowledge of accounting principles, standards and procedures
2. Proficiency in MS Office (particularly Excel)
3. Ability to work accurately with numerical data
4. Excellent organizational and time management skills
5. Ability to prioritize tasks and manage multiple deadlines
6. Ability to establish and maintain effective working relationships with customers, vendors, and colleagues
7. Strong customer service and problem-solving skills
8. Excellent communication skills, both verbal and written
9. Experience with automated accounting systems
10. Thorough understanding of accounts receivable cycles and processes

Accounts receivable bookkeepers play an essential role in any organization by managing the accounts receivable process. Their primary responsibility is to track and record all incoming payments, as well as any outstanding invoices. Attention to detail and accuracy are essential skills for this type of job.

An accounts receivable bookkeeper must also have good communication skills, as they are responsible for maintaining contact with customers in order to ensure payment is received in a timely manner. They must also be able to interpret financial data, understand accounting principles, and make accurate calculations. Being organized, having good problem-solving skills, and the ability to manage multiple tasks simultaneously are also important traits for a successful accounts receivable bookkeeper.

Accounts Payable Bookkeeper, Senior Bookkeeper, and Online Bookkeeper are related jobs you may like.

Frequent Interview Questions

• How would you describe your experience with Accounts Receivable Bookkeeping?
• What accounting software are you most familiar with?
• How do you stay up-to-date on changes in accounts receivable bookkeeping processes?
• What procedures do you use to ensure accuracy of all accounts receivable transactions?
• Describe a time when you had to resolve a customer dispute involving an accounts receivable transaction.
• What strategies do you use to manage a large number of accounts receivable invoices?
• How do you determine which customer accounts require follow-up for payment?
• What techniques do you use to reduce the time it takes to collect on customer invoices?
• Describe a situation where you had to create a report to identify potential accounts receivable discrepancies.
• How do you ensure compliance with federal and state laws regarding accounts receivable activities?

Common Tools in Industry

1. Spreadsheet Software. A program used to create and manage financial and accounting spreadsheets, such as Microsoft Excel. (e. g. Microsoft Excel)
2. Online Accounting Software. Web-based accounting software used to streamline financial processes, such as QuickBooks Online or Xero. (e. g. QuickBooks Online)
3. ERP System. Enterprise resource planning software used to manage the operations of a business, such as SAP or Oracle. (e. g. SAP)
4. Billing Management System. Software used to track invoices and payments, such as FreshBooks or Zoho Invoice. (e. g. FreshBooks)
5. Invoice Tracking System. Software used to monitor customer invoices and payments, such as InvoiceSherpa or Invoicely. (e. g. InvoiceSherpa)
6. Collections Management System. Software used to track customer debt and collections, such as Collectly or DebtPayGateway. (e. g. Collectly)
7. Bank Reconciliation Software. Software used to compare bank records with the company’s financial records, such as BankRecs or Account Reconcilement Toolkit. (e. g. BankRecs)
8. Credit Card Processing Software. Software used to process customer credit card payments, such as Stripe or Braintree. (e. g. Stripe)

Professional Organizations to Know

1. American Institute of Professional Bookkeepers
2. National Association of Certified Public Bookkeepers
3. Association of Certified Public Accountants
4. National Association of Tax Professionals
5. Institute of Management Accountants
6. International Association of Bookkeepers
7. Chartered Institute of Management Accountants
8. Certified Financial Planner Board of Standards
9. Society for Human Resource Management
10. National Association for Accounts Payable Professionals

We also have Full Charge Bookkeeper, Remote Bookkeeper, and Corporate Bookkeeper jobs reports.

Common Important Terms

1. Accounts Receivable (AR). Accounts receivable are amounts owed to a business by its customers or clients for goods and services provided on credit.
2. Ledger. A ledger is a book or file that records financial transactions, such as sales, purchases, and payments.
3. Invoices. An invoice is a document sent to a customer that details the goods or services provided and the amount owed for those goods or services.
4. Bank Reconciliation. Bank reconciliation is a process used to compare a company’s internal records of its bank account balance with the records of the bank to identify and correct discrepancies.
5. Credit Memos. A credit memo is a document issued by a seller to a buyer to reduce the amount owed on an invoice or to cancel an invoice altogether.
6. Debits and Credits. A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. A credit is an accounting entry that either decreases an asset or expense account, or increases a liability or equity account.
7. Journal Entries. A journal entry is an accounting record that documents all financial transactions of a business, including sales, purchases, receipts, and payments.

Frequently Asked Questions

What is Accounts Receivable Bookkeeper?

Accounts Receivable Bookkeeper is a professional responsible for managing and tracking a company's accounts receivable. This includes creating invoices, collecting payments, and reconciling accounts.

What are some of the responsibilities of an Accounts Receivable Bookkeeper?

The responsibilities of an Accounts Receivable Bookkeeper include creating invoices, entering payments, reconciling accounts, tracking customer credit limits, and preparing reports on accounts receivable.

What are the key skills required for an Accounts Receivable Bookkeeper?

An Accounts Receivable Bookkeeper must possess strong organizational and analytical skills, as well as knowledge of accounting principles and software. Additionally, they must have excellent customer service skills and be able to work independently.

What type of documents may an Accounts Receivable Bookkeeper handle?

An Accounts Receivable Bookkeeper may handle invoices, sales orders, credit card payments, bank deposits, collection letters, and customer account records.

What type of reports might an Accounts Receivable Bookkeeper be responsible for producing?

An Accounts Receivable Bookkeeper might be responsible for producing reports such as aging summaries, sales reports, and customer payment histories.

What are jobs related with Accounts Receivable Bookkeeper?

• Accounting Bookkeeper
• Financial Administrator/Bookkeeper
• Tax Bookkeeper
• Inventory Bookkeeper
• Financial Bookkeeper
• Junior Bookkeeper
• Bookkeeper Assistant
• Office Bookkeeper

Web Resources

• Accounts Receivable - Business Management Guide business-management.tennessee.edu
• What Do Accounts Receivable Specialists Do: Daily Work & Skills … www.franklin.edu
• Accounts Payable/Receivable Clerk Job Description & Duties www.accountingedu.org