The Accounts Receivable (AR) department is responsible for managing and processing all incoming payments from customers. The AR professional is responsible for tracking and recording all incoming payments, following up on unpaid invoices, and ensuring that all customer accounts are up-to-date.
Who is an Accounts Receivable Professional?
An Accounts Receivable professional is a finance expert who manages the incoming payments and invoices of an organization.
Roles and Responsibilities of Accounts Receivable
The roles and responsibilities of an Accounts Receivable professional may include:
- Tracking and recording all incoming payments from customers
- Following up on unpaid invoices and late payments
- Reconciling customer accounts and resolving discrepancies
- Generating and sending invoices to customers
- Processing credit memos and refunds
- Communicating with customers to resolve payment issues and answering inquiries
- Collaborating with other departments, such as sales and customer service, to ensure accurate customer information
Skills Required for an Accounts Receivable Professional
The skills required for an Accounts Receivable professional may include:
- Attention to detail and accuracy in data entry
- Strong communication and interpersonal skills
- Proficiency in basic accounting principles and software, such as QuickBooks or Tally
- Ability to prioritize and manage time effectively
- Problem-solving and critical-thinking skills
- Ability to work independently and as part of a team
Qualifications Required for an Accounts Receivable Professional
The qualifications required for an Accounts Receivable professional may include:
- A Bachelor’s degree in accounting or finance
- Experience in a related field, such as accounts payable or bookkeeping
- Familiarity with accounting software and Microsoft Office applications
- Strong written and verbal communication skills
What Does an Accounts Receivable Professional Do?
An Accounts Receivable professional manages the incoming payments and invoices of an organization. They are responsible for tracking and recording all incoming payments, following up on unpaid invoices, and ensuring that all customer accounts are up-to-date.
Final Word
An Accounts Receivable professional plays a crucial role in managing an organization’s finances. They are responsible for ensuring that all incoming payments are processed accurately and on time. To become an Accounts Receivable professional, one must possess strong communication and problem-solving skills, as well as a solid understanding of basic accounting principles and software. We hope this job description of Accounts Receivable in Indian English has provided you with a clear understanding of the roles, responsibilities, and qualifications required for this exciting career path.
FAQ
To describe Accounts Receivable on a resume, mention your experience managing customer payments, generating invoices, and reconciling accounts.
Accounts Receivable is an entry on the assets side of the balance sheet and represents the amount owed by customers for goods or services.
Accounts Receivable can be a good job for those with a love for numbers, strong communication skills, and an ability to work well under pressure.
To prepare for an Accounts Receivable interview, research the company, practice basic accounting principles, and be ready to provide examples of your problem-solving and communication skills.
Accounts Receivable is an asset account and therefore a debit.
In India, the average salary for an Accounts Receivable professional is approximately ₹ 3.5 – 5.5 lakhs per annum depending on experience and location.
Disclaimer
This article is solely for educational purposes. Witfolio or its team doesn't take any responsibility for the information or claims made in the blog.