Accounts receivable is a fascinating specialty of accounting. For a driven, confident and hard working person, this job can be very rewarding and enjoyable. The outlook for accounts receivable clerks and managers is on the rise and the pay is decent, so why not consider a career in accounts receivable?
What is Accounts Receivable?
In essence, the definition of accounts receivable is the money which a customer owes to a company for its services or products purchased on credit. However, often such customers do not pay within the terms of the invoice. This is where the role of accounts receivable clerk is imperative. These accounts receivable clerks and managers make all efforts to collect the money owed to the company, while maintaining positive customer relations.
What is Taught at Accounts Receivable Schools?
Essential skills for accounts receivable jobs are taught at both accounts receivable colleges and accounts receivable online schools. Some of these include: approving credit for customers, the responsibilities of accounts receivable management, the billing of customers, successful ways to collect past due money, the correct way to handle deductions as well as credits made by the customer and much more. Accounts receivable training teaches students the legalities of providing credit as well as how to handle a bankruptcy. Accounts receivable colleges often offer financing to students interested in pursuing an accounts receivable career.
What is the Job Description of an Accounts Receivable Clerk or Manager?
An accounts receivable manager is in charge of reconciling accounts and maintaining an accurate billing system. These managers are in charge of the collection and allocation of payments and must keep in regular contact with past due clients and arrange for payment. They must always be conscious of which clients have accounts that are past due. They are responsible for making bank deposits. They investigate customer queries, and do their utmost to resolve them. They must follow accurate systems for processing receipts and cash. They must be able to handle a reasonable amount of stress and have great interpersonal skills, as they will constantly be dealing with customers.
What is the Job Outlook and Salary for Accounts Receivable Managers?
According to Payscale.com, accounts receivable managers made an average of $38,755 to $59,843 in November of 2010. Accounts receivable managers are greatly esteemed and respected by business owners, as they collect money owed by its customers.
The job outlook for accounts receivable managers is on the rise. According to BLS, all accounting jobs, including accounts receivable jobs have promising prospects of continued job growth and opportunities. Surely, a job in accounts receivable could be a wise possible career choice for anyone looking for a satisfying, long term career.
Data provided by the Bureau of Labor Statistics
The salary range for Accounts Receivable begins around $38,755 and usually tops out around $59,843, with a mean in the neighborhood of $49,299. This is about 13% higher than the national average for annual salaries.
In order to qualify for most Accounts Receivable positions, you typically need to have a Certification or higher.
Data provided by the Bureau of Labor Statistics
The growth outlook for Accounts Receivable careers is estimated at about 9% while the estimated growth for all career fields over that same span is at about 10.12%. Over the next six years, Accounts Receivable jobs are expected to grow at a 12% lower rate than the national average for annual salaries.