Accounts Receivable Manager manages accounts receivable functions to ensure compliance with internal controls and accounting policies. Oversees collection activities such as sending follow-up inquiries, negotiating with past-due accounts, and keeping track of cash receipts. Being an Accounts Receivable Manager monitors account aging reports, identifies delinquent accounts, and refers accounts to collection agencies. Develops and implements controls and policies to ensure accurate and compliant receivable records. Additionally, Accounts Receivable Manager verifies customer credit limits and applicable payment terms. Audits methods and procedures of accounts receivable function to improve efficiency. Requires a bachelor's degree. Typically reports to a director. The Accounts Receivable Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. To be an Accounts Receivable Manager typically requires 5 years experience in the related area as an individual contributor. 1 - 3 years supervisory experience may be required. Extensive knowledge of the function and department processes. (Copyright 2024 Salary.com)
Description
PRIMARY PURPOSE
The Accounts Receivable Manager oversees all aspects of accounts receivable, collections, and related processes within the organization. They are responsible for leading a team of AR specialists if needed. Ultimately the Accounts Receivable Managers will be responsible for ensuring accuracy in billing, timely collection of payments, and adherence to company policies and procedures.
ESSENTIAL DUTIES AND RESPONSIBILITIES
· Supervise and mentor accounts receivable specialists, providing guidance and support to ensure optimal performance.
· Managing the processing, verifying, and posting receipts for goods sold or services rendered.
· Resolve complex account discrepancies and escalate issues as needed for resolution.
· Maintain accurate and up-to-date accounts receivable records, including aging analysis, credit applications, and collection efforts.
· Maintain accounts receivable records to ensure aging is up to date, credits and collections are applied, uncollectible amounts are accounted for, and miscellaneous differences are cleared.
· Coordinate with other departments to ensure accurate and complete records and timely resolution of outstanding issues.
· Review and approve adjustments, credit memos, and write-offs in accordance with company policies.
· Performing administrative and clerical tasks, such as data entry, preparing invoices, sending bill reminders, filing paperwork.
· Monitor and collect accounts receivable by contacting clients via telephone, email, and mail.
· Prepare regular reports and analysis for management review, highlighting key metrics and trends.
· Engaging in ongoing educational opportunities to update job knowledge.
· Collaborate with cross-functional teams to streamline processes and improve efficiency.
· Perform other duties as assigned by management.
Requirements
QUALIFICATIONS AND EXPERIENCE
Qualified candidates for the Accounts Receivable Manager position will generally possess the following qualifications and experience:
· Strong background in accounting, finance, or related fields; advanced training or professional certification (e.g., CPA) advantageous.
· At least three years of experience in a similar role.
· Strong understanding of accounting principles, financial analysis, and internal controls.
· Strong math, typing, and computer skills, especially with Excel software.
· Excellent communication, research, problem-solving, and time management skills.
· Detail-oriented with strong analytical and problem-solving abilities.
. Excellent communication, leadership, and interpersonal skills, with the ability to motivate and develop a team.
· Proficiency in accounting software and Microsoft Office Suite, with advanced Excel skills.
· Ability to thrive in a fast-paced environment and adapt to changing priorities.
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