What is the job of an Account Receivable Associate?

Account Receivable Associate

Definition of an Account Receivable Associate:

An account receivable associate is responsible for posting customer payments by recording cash, checks, and credit card transactions. They Post revenues by verifying and entering transactions from the lockboxes and local deposits. They update receivables by totaling unpaid invoices. Moreover, they Maintain records by microfilming invoices, debits, and credits.

Responsibilities of an Account Receivable Associate:

There are some mentioned responsibilities of an account receivable associate resumes representing typical tasks they are likely to perform in their jobs.

  • Posts client payments by recording cash, checks, and credit card deals. 
  • Posts revenues by vindicating and entering deals from the lockboxes and original deposits. 
  • Updates receivables by totaling unpaid invoices. 
  • Maintains records by microfilming checks, debits, and credits. 
  • Verifies validity of account disagreement by obtaining and researching information from sales, trade elevations, client service departments, and from clients; 
  • Resolves valid or authorized deductions by entering adjusting entries. 
  • Moreover, resolves invalid or unauthorized deductions by following pending deductions procedures. 
  • Resolves collections by checking client payment plans, payment history, credit line; coordinating contact with collections department. 
  • Perform various other tasks such as summarizing receivables by maintaining invoice accounts, coordinating yearly transfer to accounts delinquent account verifying summations, and preparing the report. 
  • Protects association’s value by keeping information confidential. 
  • Updates job knowledge by partaking in educational opportunities. 
  • Accomplishes account and association charges by completing affiliated results as demanded.

Education and Training: 

Educational requirements and certifications are an important part of scoring your first job. If you have done a specific specialization in any field of your interest. You must know what kind of educational requirements you need to fulfill to score this job. That is why we are also providing you with a complete list of academic qualifications that you need to achieve before applying for this job. 

Here are the academic qualifications you would require to become an account receivable associate:

  • A high school diploma or equivalent is required; an Associate’s or a bachelor’s degree in Accounting is preferred.
  • At least 2 (two) years of related experience is required.

Skills: 

Nowadays companies may skip the educational requirements in some cases, but the skill requirements for jobs like this are not negotiable. Companies pay a large sum of money to people who may not have any relevant subject studies. But, what they do have is the required skill set. This is the ongoing shift of requirements happening in the world. However, if you don’t have the skills required to be an account receivable associate. That’s fine. Because we will tell you the basic requirements so that you can work on them to develop a good skill set and earn a reputable amount of money. 

So, let’s start by looking at the most common and highly demanded skill requirements for this designation.

  • Excellent verbal and written communication skills
  • Proficient in the Microsoft Office Suite or related software as well as other accounting software programs.
  • Capability to operate related office equipment, such as computers, 10-key calculator, and copier.
  • Must have the capability to work independently and in a fast-paced environment.
  • Capability to anticipate work needs as well as interact professionally with customers.
  • Excellent organizational skills
  • Attention to the detail

Salary: 

The national average payment of an account receivable associate is $43,000 per year in the United State. So; they can earn $4,000 per month. The payment ranges can vary widely depending on so many important factors, including education, certifications, additional skills, and the number of years you have spent in your profession.

Employment:

Do you want to become an account receivable associate? Indeed, we will guide you about this but keep in mind that finding your first job. It can be a bit difficult for you at the start as you have no prior training or experience with real-world problems. But, we recommend you to start with even the lowest possible field salary if you get the chance.

Now, the question may arise, Where will I find my first opportunity? Here are the steps you can try out to get your first designation in the field. Firstly, we recommend you check out job searching platforms. These include venues such as zippia.com and indeed.com. But As always, if you want the comfort of letting us do the job for you. You can check out our website. We will have the best offers for you right away.

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