An AR Collection Rep is a common name for an Accounts Receivable Collection Representative. A collection rep is a person who is responsible for collecting any receivable amount from the clients of the business. This person has to go door to door to collect and bring the money back safely to their manager. Accounts receivable may include entities such as other businesses, company clients, vendors, and individual customers. This is critical, as any missing money or misleading information can cause a financial disaster.
An AR Collection Rep must be able to work with extreme efficiency when handling money. An employee in any field is required to exhibit specific characteristics that would make the working environment pleasant for them and their peers. These characteristics are known as soft skills. Soft skills at any workplace include things such as friendly behavior, being highly motivated, good attention to detail, and most of all, respect towards their co-workers.
Remember, the core responsibilities are also mandatory to fulfill, but any negligence in fulfilling these soft skills and obligations can also have a heavy impact on the job. An AR Collection Rep has more duties than you could think. The position of a collection rep comes with responsibilities such as:
Collecting the designated amount of money from the people who own money to the business.
Updating their accounts receivable to deduct the accumulated amount of money.
Improving customer relations while collecting money from the clients.
Protecting the collected amount with honesty and courage.
Report Non-responding clients to the management and advise action.
Keeping track of the clients’ due dates and reminding them about their debt in a professional manner.
Submitting the collected amount to the managers and providing an accurate record to justify the payment.
Education & Training
An AR collection rep must have some educational background and knowledge about financial calculations. So, the essential academic and skill requirements are as follows:
Bachelor’s degree with a major in subjects such as Principals of Accounting, Statistics, Mathematics, Business Management, etc.
An Associate Degree can also be used to pursue a career in this field but with the same subjects.
The internship period is mandatory in the collection representative’s job.
License & Certifications
Although an AR collection rep doesn’t need any specific certifications, having multiple certifications will surely give a boost to their career. So, the credentials and skills that a collection representative may gain are:
A minimum of two years working experience certificate.
Certificate in customer relations building.
Diploma in computer applications such as Microsoft Office, Access, and Excel.
Any profound accounting certificate.
As critical as the job of an AR Collection rep is, on average, a collection representative at any large business may earn an income of $38,000 per year. This equates to a monthly salary of about $3,100.
The Rise of the Industry
The era of business and investment created a lot more opportunities with it. Many people in any industry perform vital roles. Now every business is expanding. So, these organizations need to rely on a specialist who can take care of the financial side. What’s more, as more scams come to the market, it is essential to have a person who takes care of money and, in turn, the business.
AP managers can apply for open opportunities at any business firm. As we mentioned in the sections above, they need to have an extensive background. Before you can delve into the field, keep in mind that it can be difficult to find your first job with no knowledge or hands-on experience. It can also take a while to score your first position in the field. But, we recommend you start with even the lowest possible field salary if you get the chance.
Now, the question may arise: where can you find these opportunities? Luckily, there is a wide range of opportunities just waiting to be explored. Here are the steps that you can try out to get your first designation in the field. The first thing that you can do is to search online. Then, you can try one of the few job searching engines such as Indeed, Jooble, and LinkedIn. Most importantly, if you’re going to simplify your searching, you can try our website for efficient job searching.