Accounts Receivable Manager Job Description
Accounts Receivable Managers oversee a business’ financial or accounting department that handles the company’s generated income. They will work with accountants and other staff to ensure all money owed to the company is billed and received correctly and in a timely fashion. They are also referred to as Accounts Payable Managers.
Accounts Receivable Managers are generally the head of the Accounts Receivable department and answer to a company’s general manager. They must possess strong leadership skills as well as the ability to work in teams.
Accounts Receivable Manager Duties and Responsibilities
The type of organization an Accounts Receivable Manager works for will determine their particular responsibilities; however, there are several main duties all Accounts Receivable Managers perform. A review of current job listings identified the following primary tasks and responsibilities.
Many Accounts Receivable Managers are in charge of supervising accounts receivable personnel. This may include accountants, auditors, data clerks and administrative staff. The Accounts Receivable Manager may be responsible for interviewing and hiring staff members, providing training, creating work schedules, filing timesheets and performing any disciplinary actions.
Generate Invoices and Expense Reports
Accounts Receivable Managers will find a main task in reviewing and approving the invoices and expense reports generated by their staff. Depending on the size of the business this task may take up as little as a couple hours a week up to a couple hours a day. Generally the Accounts Receivable Manager is ensuring that all the figures are correct and the remittance information is accurate and easy to understand. Some Accounts Receivable Mangers will generate invoices and reports for particularly complicated clients or transactions.
Provide Client and Vendor Support
Keeping clients and vendors happy is key to a business’ success so Account Receivable Managers must ensure these relationships remain strong. When issues arise with payments or billings, Accounts Receivable Managers are often the ones who make contact with the vendors or clients to resolve the issues. They are often on good terms with these customers and are able to settle problems so both the business and the clients are satisfied.
Accounts Receivable Manager Skills
An Accounts Receivable Manager must enjoy providing customer service and be an experienced leader. A high attention to detail and excellent organizational skills are also important. Accounts Receivable Managers should be team players and excellent in communicating both verbally and in writing. In addition to these traits, employers look for applicants with the following skillsets.
Core skills: Based on job listings we looked at, employers want Accounts Receivable Manager with these core skills. If you want to work in Accounts Receivable Manager, focus on the following.
- Highly proficient in computer software programs such as, word processors, spreadsheet programs and database systems
- Basic mathematical skills
- Knowledge of high volume collections, credit authorization and billing procedures and practices
- Familiar with Financial Management software such as, PeopleSoft
Advanced skills: While most employers did not require the following skills, multiple job listings included them as preferred. Add these to your skillset and broaden your career options.
- Degree in accounting or related field
- Knowledge of Generally Accepted Accounting Principles (GAAP)
Accounts Receivable Manager Resources
There are more helpful and informational resources available on the Web for those interested in working in Accounts Receivable Manager. We scoured the internet and found these links full of learning opportunities and the latest industry news.
Melanie Reed – Melanie Reed is a revenue cycle advisor who posts about financial issues and best practices for accounts receivable professionals. Check out her dozens of posts on the subject.
Phil Dunlap – Mr. Dunlap works to help contractors secure government funding and in his free time he has contributed over 200 finance-related posts to his LinkedIn account. Look through his posts to read the many dedicated to accounts receivable.
Jim Yarsinsky – Jim Yarsinsky describes himself as an “expert in developing cash producing strategies” and in his posts he covers some of his strategies and provides tips to make your accounts receivable department thrive.
Accounts Receivable Manager Books
Accounts Receivable Management Best Practices – This handy resource covers all the essentials for Account Receivable Managers, including discussions of policy and procedures, illustrations of best practices and real-world examples to help with key concepts.
Fundamentals of Accounts Payable – This text aims to help businesses create strong and effective accounts payable departments by laying out the best practices and procedures for all aspects of accounts payable from the invoicing to internal controls.
The Institute of Financial Operations – This group represents many financial professionals, but emphasizes those working in accounts payable and accounts receivable fields. They offer education workshops, networking opportunities and the latest industry news to their members.
The Accounts Receivable Network – TARN provides training, education and certification for Accounts Receivable professionals. They also offer resources, best practices and a wealth of industry information on their website.
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