Accounts Receivable Specialist Job Description: Top Duties and Requirements

An Accounts Receivable Specialist, or Accounts Receivable Clerk, handles many types of transactions for a business while making sure it stays in good financial standing. Accounts Receivable Specialists create invoices, send bills to customers, and process payments using a variety of payment methods. 

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Accounts Receivable Specialist duties and responsibilities

Depending on a company’s requirements, some Accounts Receivable Specialists help with a wide variety of tasks, while others may have more specialized roles. Duties and responsibilities they need to excel at may include:

  • Using data entry to change paper records to a digital format
  • Organizing and updating digital or paper records 
  • Calculating billing amounts, and printing and mailing bills when needed
  • Reminding customers about upcoming payments or past-due accounts
  • Making electronic or cash deposits to company bank accounts
  • Using software to send invoices and payment reminders electronically
  • Keeping accurate records of payments that they receive from customers
  • Creating reports for supervisors and providing digital or paper copies of records when requested
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Accounts Receivable Specialist Job Description Examples:

 

Example 1

*The Opportunity* The Accounts Receivable (AR) Specialist main task will be handling payments and ensuring they are applied to the appropriate accounts. He/she will be responsible for the opening and maintenance of customer and vendor accounts. The incumbent is also responsible for preparing and updating cash inflow reports, as well as sending out invoices and statements and communicating effectively with branches and customers. *The Role* Cash Application * Processing accounting receivables and incoming payments in compliance with financial policies and procedures. * Appling customer payments (cheques, cash, credit card, wire transfers) to the appropriate customer accounts in the accounting system. * Balancing the daily cash application journal with the payment batches received and with the daily deposits in the bank. Customer / Vendor Creation and Maintenance * Creating new customers and vendors in accounting system * Maintaining customer and vendor master file accounts information Preparation of Invoices / Reports * Performing day to day financial transactions, including verifying, classifying, computing, posting and recording accounts receivables’ data * Mailing of invoices. * Preparing daily deposit sheets and monthly activity reports. Printing and distributing them in a timely manner. * Filing, scanning and photocopying documents (cheques, invoices, etc.) for archival purposes Additional * On request, send copies of invoices or statements to customers. * Reply to requests from customers on an as required basis. * Perform miscellaneous month end tasks, as required. * The Candidate* *Education: * College Diploma or Certificate in Accounting or relatable field *Work Experience: *2+ years *Knowledge: *Bilingual (English and French). Strong working knowledge of Microsoft Office (including Word, Excel and Outlook). Basic knowledge of spreadsheets and accounting systems. Meticulous, accurate and proficient (speed) at data entry. *The Company* Since [phone number], Wajax has been a leading industrial products and solutions provider continually innovating to serve Canadian industry coast-to-coast. We work in an extensive range of industries and core sectors of the Canadian economy including energy and renewables, food and beverage, construction, transportation, forestry, mining, metal processing, and oil and gas – to name a few. Everything we do is powered by people passionate about making a difference and who are dedicated to driving Canadian industry forward. People who provide the experience and expertise that support the industries that build our cities, power our businesses, put a roof over our heads and food on our tables. Wajax offers a total compensation package that includes competitive pay, comprehensive benefits, learning and development, as well as some unique additional “perks.” Highlights include: * 100% employer paid medical and dental benefits with no waiting period for eligibility. * Wajax led e-learning, and product training through industry leading manufacturers. * Exclusive discounts with a variety of manufacturers and service providers such as Ford, GM, Chrysler, Dell, TELUS, a group mortgage, home & auto insurance program and more. By working with Wajax, you become part of an inclusive and diverse team that is dedicated to innovation and teamwork. We are committed to employing a workforce that is representative of the diverse communities across Canada in which we do business. As an equal opportunity employer, please inform us if any accommodation is required if contacted for an interview. As a condition of employment, final candidates will be subject to pre-screening. * \ Together we get more done.* Job Type: Full-time

Example 2

Accounts Receivable Specialist The Accounts Receivable Specialist will be responsible for supporting AR Manager with customer accounts to ensure payments are received on time, generate customer invoices, and resolve billing and payment errors. The AR Specialist is also expected to work very closely with AP team members to ensure required information to invoice customer are indexed on time by AP team.  Accounts Receivable Coordinator Duties and Responsibilities Set Up New Accounts Accounts receivable coordinators assist with creating new customer accounts. This can include running credit checks on applicants, setting up terms for billing, and choosing a credit limit. They also record new customer information in the company’s accounting system. Handle Invoices and Statements Create accurate invoices for customer by auditing freight rates based on contractual price list, ensuring proof of delivery and customers accessorial charges approvals are properly attached. Send statements on a scheduled basis are key to informing customers of what they owe and receiving payments on time. These statements can also serve as documentation for reconciling accounts. Upload or create customers invoices in a various third party TMS and self learn how to use the various TMS to pull reports pertaining to approved/rejected invoices and payment Process Payments As customers pay their bills with cheques or direct deposits, Accounts Receivable Coordinator processes these payments and apply them accurately to customers’ invoices. This can require working with other accounting professionals to handle concerns such as returned cheques. Resolve Billing Issues When customers do not pay their invoices on time, accounts receivable coordinators assist in the collections process by coordinating with management and collection agencies as needed. They are also responsible for addressing customers inquiries with regards to their charges and provide revised invoices when applicable. Accounts Receivable Coordinator Skills and Qualifications * Familiarity with general accounting principles – Accounts Receivable Coordinators have a working knowledge of the accounting cycle and steps needed to enter transactions, create reports, make invoices and statements, and reconcile accounts regularly * Proficiency with accounts receivable processes – they understand the steps for setting up new accounts, entering payments, handling billing issues, and following up to collect on overdue accounts * Data entry – using computer software to enter transactions, generate documents, and update customer information requires typing skills and a high level of accuracy * Attention to detail – a small error in a customer’s account can cause incorrect invoices or failed payments. Accounts receivable coordinators need an eye for detail to both prevent errors when recording data and to uncover errors when they do occur * Communication skills – when contacting the customer to obtain payment or address any inquiry either by telephone or by email, Accounts Receivable Coordinators need strong communication and writing skills to provide accurate and concise information free from spelling or grammatic errors. * Excel suite – Microsoft excel knowledge is an asset Accounts Receivable Specialist Education and Training Accounts Receivable Specialists typically have a high school diploma supplemented by some college-level accounting coursework. Although an associate’s or bachelor’s degree in accounting is preferred, a coursework covering the accounting cycle, financial data entry processes, accounting standards, and taxation serve as good preparation. Sufficient training covering the company’s accounts receivable processes and software will be provided. Reference ID: AR Specialist Job Types: Full-time, Permanent Salary: per year Additional pay: * Bonus pay Benefits: * Casual dress * Company events * Dental care * Extended health care * Flexible schedule * Life insurance * On-site parking * Paid time off * Vision care Schedule: * 8 hour shift * Day shift * Monday to Friday * No weekends Experience: * accounts receivable: 1 year (preferred) Work remotely: * No

What does an Accounts Receivable Specialist do?

An Accounts Receivable Specialist helps a company keep its finances and reputation in good standing by maintaining cash flow and minimizing the need for business loans or other types of credit. They also process payments, help customers, and create reports. Some Accounts Receivable Specialists work for contractors that serve multiple companies. Accounts Receivable Specialists often communicate with customers and clients, as well as other employees who help with handling the business’s finances. These include Accountants, Accounts Payable Specialists, and Managers, among others. 

Accounts Receivable Specialist skills and qualifications

Accounts Receivable Specialists are usually friendly, helpful, professional, and organized. They can keep track of many different details and can be patient, polite, and sympathetic to customers. Some skills and qualifications an Accounts Receivable Specialist candidate should have include:

  • Ability to provide good customer service and address complaints promptly
  • Knowledge in data entry 
  • Knowledge in bookkeeping and other financial software
  • Expertise in calculating account balances and interest rates
  • Extensive knowledge and understanding of how banking and finance systems work
  • Knowledge of company products, product pricing, and sales policies
  • Knowledge and expertise in using payment processing systems

Accounts Receivable Specialist experience requirements

Many Accounts Receivable Specialist jobs require two to five years of experience in a similar role. Look for candidates who acquired their experience in the same industry. Candidates with several years of experience in the financial sector may be highly sought after. However, some Accounts Receivable Specialist positions can be an entry-level job.  

Accounts Receivable Specialist education and training requirements

Most Accounts Receivable Specialist positions require a bachelor’s degree in accounting, business, finance, or a related field. However, an associate’s degree and a secondary school diploma or GED may also be sufficient. Canada doesn’t require any type of professional licence or certification for Accounts Receivable Specialists, but new Accounts Receivable Specialist employees typically undergo on-the-job training.   

Accounts Receivable Specialist salary expectations

According to Indeed Salaries, the average salary for an Accounts Receivable Specialist is $43,340 per year. The pay rate depends on the individual employer, the location, and the candidate’s education and experience levels.

Job description samples for similar positions

If an Accounts Receivable Specialist isn’t exactly what your company needs, some other job description samples that could be appropriate include:

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Accounts Receivable Specialist job description FAQs

Who does an Accounts Receivable Specialist report to?

Accounts Receivable Specialists usually report to Accounts Receivable Supervisors or other related department heads or managers. They can work for any department, but most are part of financial departments. Meanwhile, some Accounts Receivable Specialists work for collection agencies or smaller organizations and report to the owner, manager, or shift supervisor.  

What qualities make a good Accounts Receivable Specialist?

Good Accounts Receivable Specialists should be polite, professional, and patient with customers. They need to stay calm while negotiating payment plans with past-due customers. They must also be able to explain interest rates, fees, service charges, and other parts of invoices or bills to clients clearly. 

What is a typical day like for an Accounts Receivable Specialist?

Many Accounts Receivable Specialists work in offices during regular business hours, but some spend part of their time working from home. Some Accounts Receivable Specialists work nights and weekends as well. There are some Accounts Receivable Specialists that work in call centres and talk to customers. In other cases, employers may ask them to focus on keeping records of incoming payments.

What makes a good Accounts Receivable Specialist job description?

A good Accounts Receivable Specialist job description should give applicants an idea about its scale of operations and the major clients they can look forward to working with. Meanwhile, it should also specify the location of the job and all the inclusive benefits and job incentives, such as performance bonuses.  

Job Description Examples

Need help writing a job description for a specific role? Use these job description examples to create your next great job posting. Or if you’re ready to hire, post your job on Indeed.

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