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

The Accounts Receivable Clerk is a critical role in the financial success of an organization. They are responsible for ensuring invoices are sent out, payments are received and recorded, and that any discrepancies are identified and resolved. This role requires strong organizational skills, an understanding of accounting principles, and the ability to effectively communicate with customers and other stakeholders.

When an Accounts Receivable Clerk is successful, the organization benefits from timely payments, more accurate financial reports, and improved customer satisfaction. On the other hand, if the Accounts Receivable Clerk is not performing at a high level, the organization risks missed payments, inaccurate financials, and unhappy customers.

Steps How to Become

1. Obtain a high school diploma or equivalent. Most employers require accounts receivable clerks to have a high school diploma or equivalent.
2. Take classes in accounting and bookkeeping. Many employers prefer to hire accounts receivable clerks who have experience with accounting and bookkeeping. Taking classes in these topics can help you gain the knowledge and skills required for the job.
3. Get certified. Obtaining a certification in accounting or bookkeeping can help you stand out from other job applicants and show potential employers that you have the skills and knowledge necessary for the job.
4. Gain experience. Many employers prefer to hire accounts receivable clerks who have previous experience in the field. Consider taking an internship or volunteer position with an accounting firm to gain valuable experience.
5. Apply for jobs. Once you have the necessary education, certifications, and experience, you can start applying for jobs as an accounts receivable clerk. Look for job postings online, in newspaper classifieds, and through employment agencies.
6. Interview for positions. Once you have applied for jobs, employers may contact you to set up an interview. Prepare for the interview by researching the company and practicing your answers to common interview questions.
7. Start work as an accounts receivable clerk. After you have successfully completed the hiring process, you can begin work as an accounts receivable clerk. Follow all company policies and procedures and strive to perform your duties to the best of your ability.

Accounts receivable clerks play a vital role in any successful business. They are responsible for ensuring customer payments are received accurately and in a timely manner. When customers do not pay their bills, accounts receivable clerks must take appropriate action to collect the debt, which can include sending reminder notices, making phone calls and filing legal documents.

Reliable and competent accounts receivable clerks must have excellent customer service skills, as well as strong organizational and problem-solving abilities. Good communication and attention to detail are also essential, as accounts receivable clerks need to be able to understand and interpret financial documents and follow up on any discrepancies. Having a thorough understanding of accounting principles and the ability to use accounting software are both important qualifications for accounts receivable clerks.

In order to remain reliable and competent, they must also stay up-to-date on changes in the accounting field.

You may want to check Financial Advisor, Loan Officer, and Audit Manager for alternative.

Job Description

1. Process customer invoices and transactions.
2. Reconcile customer accounts and prepare monthly statements.
3. Resolve customer inquiries and disputes.
4. Analyze account activity and dispute trends.
5. Monitor customer credit levels and account balances.
6. Maintain accurate records of customer accounts.
7. Prepare deposits and post payments to customer accounts.
8. Follow up on past due amounts and generate collection letters.
9. Assist with month-end closing procedures.
10. Work closely with other departments to resolve issues.

Skills and Competencies to Have

1. Knowledge of accounts receivable accounting principles and procedures
2. Ability to calculate and process accounts receivable transactions
3. Strong attention to detail and accuracy
4. Excellent organizational and time management skills
5. Experience with bookkeeping and accounting software
6. Ability to process large volumes of data with speed and accuracy
7. Ability to work both independently and with a team
8. Excellent customer service and problem-solving skills
9. Proficient in Microsoft Office Suite, including Excel
10. Ability to prioritize tasks and meet deadlines

An Accounts Receivable Clerk plays a critical role in any business, as they are responsible for properly managing and tracking the money owed to a company by its customers. This makes effective communication, organizational and time management skills essential for success in this role. the ability to identify and resolve discrepancies between customer accounts and financial records is a crucial trait.

Furthermore, expertise in accounting software and financial systems is necessary for the Accounts Receivable Clerk to be able to process customer payments, generate invoices, reconcile accounts and resolve customer inquiries in an efficient manner. Finally, strong problem-solving skills are also important for this role, as the Accounts Receivable Clerk must be able to handle complex financial situations and identify solutions that meet the needs of the business.

Budget Accountant, Accounts Receivable Supervisor, and Cashier are related jobs you may like.

Frequent Interview Questions

• How many years of accounting experience do you have?
• Tell me about a particularly challenging Accounts Receivable project you completed.
• How do you ensure accuracy when entering data into the Accounts Receivable system?
• How do you stay organized and prioritize tasks when managing Accounts Receivable?
• Describe the Accounts Receivable process from start to finish.
• What strategies do you use to collect overdue payments?
• How do you stay current on changing Accounts Receivable regulations?
• What do you consider to be the most important qualities of an Accounts Receivable Clerk?
• What steps do you take to reconcile discrepancies between Accounts Receivable and other financial records?
• Describe a time when you identified and resolved a problem related to Accounts Receivable.

Common Tools in Industry

1. Accounting Software. A software program used to record and process accounting transactions, such as invoices, receipts, and payments. (eg: Quickbooks)
2. Spreadsheet Software. A software program used to create and organize data into rows and columns. (eg: Microsoft Excel)
3. Invoicing Software. A software program used to generate customer invoices and track customer payments. (eg: FreshBooks)
4. Organizational Software. A software program used to organize and store customer information, such as contact information and payment history. (eg: Zoho CRM)
5. Billing Software. A software program used to generate customer bills and track customer payments. (eg: Xero)
6. Payment Processing Software. A software program used to securely process customer payments online. (eg: Stripe)

Professional Organizations to Know

1. National Association of Credit Management (NACM)
2. Accounts Receivable Professional (ARP)
3. American Society of Credit and Collection Professionals (ASCCP)
4. Institute of Financial Operations (IFO)
5. National Association of Professional Credit Management (NAPCM)
6. International Association of Credit and Collection Professionals (IACC)
7. Credit Research Foundation (CRF)
8. International Receivables Management Association (IRMA)
9. Turnaround Management Association (TMA)
10. The Institute of Financial Consultants (IFC)

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Common Important Terms

1. Accounts Receivable Ledger. A ledger that stores detailed information about a company’s accounts receivable, including the amount owed by each customer and the date when it is due.
2. Accounts Receivable Aging Report. A report that lists all outstanding accounts receivable, sorted by how long they have been outstanding.
3. Credit Terms. The terms set by a company for customers to pay their invoices, such as the payment due date, discounts for early payment, and any late fees associated with payments.
4. Invoice. A document sent to a customer that outlines the goods or services provided, the total amount due, and payment terms.
5. Collections. The process of attempting to collect payments from customers who have not paid their invoices on time.
6. Bank Reconciliation. The process of ensuring that a company’s bank account balance matches its internal records.
7. Accounts Payable. Money owed by a company to suppliers, vendors, and other entities for goods and services purchased on credit.
8. Credit Memo. A document sent to a customer that reduces the amount owed due to a return or cancellation of goods or services.

Frequently Asked Questions

What is the primary responsibility of an Accounts Receivable Clerk?

The primary responsibility of an Accounts Receivable Clerk is to manage customer accounts, process payments and ensure that customers are billed accurately and on time.

What skills are necessary to be an effective Accounts Receivable Clerk?

To be an effective Accounts Receivable Clerk, one must possess strong organizational skills, the ability to work with numbers and financial data, excellent customer service skills, and the ability to work in a fast-paced environment.

What types of documents does an Accounts Receivable Clerk need to be familiar with?

An Accounts Receivable Clerk needs to be familiar with invoices, receipts, payment records, bank statements, and other financial documents.

What type of software does an Accounts Receivable Clerk typically use?

An Accounts Receivable Clerk typically uses accounting software such as QuickBooks or Sage to manage customer accounts and process payments.

What is the average salary for an Accounts Receivable Clerk?

The average salary for an Accounts Receivable Clerk is approximately $36,000 per year.

What are jobs related with Accounts Receivable Clerk?

• Accounts Payable Specialist
• Forecasting Analyst
• Corporate Accountant
• Senior Accountant
• Accounting Manager
• Financial Planner
• Financial Services Representative
• Revenue Agent
• Collections Specialist
• Financial Controller

Web Resources

• Accounts Receivable Clerk Certificate - Shoreline Community … www.shoreline.edu
• ACCOUNTS RECEIVABLE CLERK 11579 | Expires: 2022-06-18 www.ptc.edu
• Accounts Receivable | Cornell University Division of Financial Affairs www.dfa.cornell.edu