What does an Accounts Receivable Specialist do?
Accounts Receivable Specialists handle day to day financial transactions within a company. They record payments from clients, update statements with received transactions and make collection calls. An Accounts Receivable Specialist also performs other financial tasks such as ensuring the accuracy of accounting ledgers and the timely monitoring of payments, receipts and bills.
Accounts Receivable Specialists often work directly with customers or clients, issuing invoices and receiving payments for services or supplies. They also compile financial reports and provide financial information or data to other staff members.
Accounts Receivable Specialist skills and qualifications
An Accounts Receivable Specialist has excellent accounting and arithmetic skills to record all accounts receivable transactions accurately. They have administrative skills and are proficient in computer and accounting software. They should also have the relevant accounting qualifications to apply for an Account Receivable Specialist position. A successful Accounts Receivable Specialist will have various prerequisite skills and qualifications, that typically include:
- Accuracy with data entry
- Excellent arithmetic skills
- Excellent customer service skills
- Ability to communicate complex financial information in a simple, understandable format
- Proficiency in working with spreadsheets using Microsoft Excel
- Knowledge of general accounting software, such as QuickBooks
- Extensive knowledge of accounting and financial terminology and practises
- Associate Chartered Accountant (ACA) qualification or similar industry-recognised qualification
Accounts Receivable Specialist experience requirements
A successful Accounts Receivable Specialist needs a minimum of two years of experience working in a previous accounting role. This could be as an Accounting Clerk, Bookkeeper or as an Accounting Technician. Experience working in an office is also essential.
An Accounts Receivable Specialist candidate should have proven experience of bookkeeping, of performing administrative tasks and accurately inputting data. The ideal candidate should have specialisation in finance and accounting. In larger organisations the position may require experience working with customers and as as part of a team.
Accounts Receivable Specialist education and training requirements
An Accounts Receivable Specialist typically needs an academic grounding in mathematics, including excellent results in Maths at both GCSE level and A-Level. Most employers prefer a degree in Maths, Accounting, Economics or Business Administration. Accounting qualifications from a reputable institution, such as the Institute for Chartered Accounts in England and Wales is beneficial for candidates to be successful.
Some employers consider entry-level candidates who have proven experience working in an accounting or office administration role. Such candidates usually demonstrate that they are working towards relevant accounting qualifications, even if they are yet to achieve the necessary degree-level education. A Foundation Certificate in Accounting from a college or an apprenticeship is also helpful.
Accounts Receivable Specialist salary expectations
According to Indeed Salaries, the average salary for an Accounts Receivable Specialist is £24,492 per year. Salary may be dependent on experience, location and company.
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