This post has provided in-depth information on the job description of an accounts receivable manager, including the key duties, tasks, and responsibilities they typically perform.
What Does an Accounts Receivable Manager Do?
Accounts receivable managers are responsible for ensuring proper invoicing in an organization.
The accounts receivable manager job description usually entails collecting all monies owed by clients to their companies for goods and services already used or delivered, but are still to be paid for.
The manager works within the standard policies outlined by the company and reflective of requirements of the customers.
He/she is required to operate in the line of credit and is expected to collect such monies within stipulated time period.
Organizations usually record these account receivables as assets on their balance sheet, since they stand as legal obligation for any customer to ensure cash remittance. The monies are viewed as short-term interest-devoid debts.
Managers responsible for accounts receivable are usually required to relate accordingly with other members of staff in the same unit, as well as with those from other departments towards achieving the end goal of quickened credit remittance.
Their job description also involves ensuring accurate and timely rating and invoicing in the company.
They are expected to relate with company Executive Board, and also with Operational Managers towards achieving the goal of business vibrancy.
The role of accounts receivable managers also includes implementing disciplinary measures, providing counseling and training to employees.
It also involves providing orientation to new employees, scheduling of work, and assigning of specific invoicing and collecting tasks to employees.
Receivable managers are equally required to communicate job appraisal and expectations to designated members of staff.
They are also involved with the appraisal and planning of job contributions by other members of staff.
The manager is required to strictly adherence to procedure and policies of the organization, and to recommend compensations actions regarding other members of staff working under them and compliant customers.
Organizations usually look up to accounts receivable managers to contribute information towards strategic planning and reviews, as well as implement quality productivity to ensure customer-service standards are met.
Other duties receivable managers perform include relating with customers to collect accounts after such customers had been referred by clerks.
They are required to properly investigate any non-payment circumstances. They are also saddled with the responsibility of resolving conflicts and negotiating with clients.
They equally handle payment expeditions.
The job environment for the manager of accounts receivable is ever dynamic and so he/she needs to update personal job knowledge regularly by ensuring full participation in as many educational opportunities as possible, like maintenance of personal networks and reading of related professional publications.
Other roles of this position include forecasting cash as a way of supporting the company’s financial planning, and to update account receivables by simply monitoring and coordinating bank remittance and processing for daily orders of sales.
Accounts Receivable Manager Job Description Example/Sample/Template
Accounts receivable managers in most organizations are usually required to perform the tasks, and meet with the responsibilities, outlined in the job description example below:
- Ensure all monies due to the organization are collected promptly
- Report and monitor any deviation from the outlined credit standards by customers
- Ensure accurate and timely invoicing
- Ensure all cash received are properly applied via proper management of all cash applications
- Ensure all customers have access to standard templates designed by the company for invoicing credit remittance
- Manage and establish all limits of customers, while conducting credit check on the customers
- Compile recommendations towards improving collection and invoicing qualities
- Report on weekly basis: invoice adjustment, cash receipt, aging totals, and invoicing totals
- Keep company information confident towards protecting the company’s values in the public’s view
- Posts monthly transactions to maintain company’s account ledgers
- Adhere strictly to company’s internal account control by maintaining outlined financial security
- Develop company’s budgets
Accounts Receivable Manager Job Description for Resume
Accounts receivable manager resume can be prepared using information from the sample job description above.
Such information, which highlights the major duties, tasks, and responsibilities of an accounts receivable manager, can be employed in completing the professional experience section of the resume targeting the position.
Account Receivable Manager Requirements: Skills, Knowledge, and Abilities for Career Success
The account receivable manager requires the abilities, knowledge, and skills outlined below to perform creditably well on the job towards achieving the company’s business goal:
- Minimum of five years experience in credit provision and debt collections, including managerial experience
- High level spreadsheet operation skills with good understanding of a number of computer packages, including Microsoft Excel
- Good knowledge of a number of accounting software like Great Plains Accounting
- Top class verbal communication and writing skills
- Good knowledge of reporting procedures, especially D&B reporting
- Ability to manage at least five members of staff in the Account Receivable department
- Ability to supervise other members of staff in the Account receivable (AR) department and appropriate their work ethics
- Ability to identify required expertise in accounts receivable job seekers to ensure productive staffing
- Versatility to varieties of financial software is a plus
- Good understanding of the SFAS Rules towards better organizational stability
- Good understanding of various management processes and procedures
- Good knowledge and understanding of General Mathematics
- Ability to get the job done thoroughly
Notice that the above skills and other qualities can also be used in making resumes for the role.