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Key Responsibilities and Required Skills for Accounts Receivable Specialist

💰 $48,000 - $70,000

AccountingFinanceAccounts ReceivableBillingCredit Control

🎯 Role Definition

An Accounts Receivable Specialist is responsible for managing incoming payments, ensuring accurate billing, and maintaining precise financial records. This role is critical in maintaining an organization’s cash flow, reconciling customer accounts, resolving billing disputes, and supporting month-end financial closings. AR Specialists play a key role in customer relationship management by ensuring timely collections while maintaining professionalism and compliance with company policies.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Accounting Assistant
  • Billing Clerk
  • Finance Coordinator
  • Administrative Assistant in Accounting

Advancement To:

  • Senior Accounts Receivable Specialist
  • Accounts Receivable Supervisor
  • Credit & Collections Manager
  • Accounting Manager

Lateral Moves:

  • Accounts Payable Specialist
  • Billing Analyst

Core Responsibilities

Primary Functions

  1. Process, verify, and post accounts receivable transactions accurately in the ERP or accounting system.
  2. Generate and distribute customer invoices, credit memos, and statements in a timely manner.
  3. Reconcile customer accounts to ensure all payments and credits are properly applied.
  4. Monitor outstanding balances and follow up with clients to ensure prompt collection of payments.
  5. Research and resolve payment discrepancies, short payments, and billing disputes.
  6. Maintain detailed and organized records of billing, payments, and correspondence with clients.
  7. Prepare monthly AR aging reports and provide analysis to management.
  8. Collaborate with the sales and customer service teams to resolve invoicing and credit issues.
  9. Apply cash receipts and ensure payments are matched to the correct invoices.
  10. Review and manage customer credit limits and recommend adjustments when necessary.
  11. Support month-end and year-end closing by reconciling AR sub-ledgers and general ledger accounts.
  12. Ensure compliance with GAAP standards and internal accounting policies.
  13. Process refunds, adjustments, and write-offs according to company guidelines.
  14. Maintain data integrity and confidentiality of financial records.
  15. Assist auditors during internal and external audits by providing required AR documentation.
  16. Utilize financial software tools (e.g., SAP, Oracle, QuickBooks, NetSuite) for data entry and reporting.
  17. Identify process improvement opportunities to enhance AR efficiency and accuracy.
  18. Prepare and present collection reports to finance leadership.
  19. Support customer onboarding by verifying billing setup and payment terms.
  20. Maintain professional communication with clients to foster positive working relationships while ensuring timely collections.

Secondary Functions

  • Support ad-hoc data requests and exploratory data analysis.
  • Contribute to the organization's financial reporting and process improvement roadmap.
  • Collaborate with business units to align billing and revenue recognition practices.
  • Participate in system upgrades, testing, and automation projects related to AR processes.

Required Skills & Competencies

Hard Skills (Technical)

  • Proficiency in ERP/accounting systems such as SAP, Oracle, QuickBooks, or NetSuite
  • Strong understanding of GAAP and basic accounting principles
  • Advanced Excel skills (pivot tables, VLOOKUPs, reconciliations)
  • Knowledge of billing procedures, cash application, and collections management
  • Familiarity with AR aging reports and financial statement reconciliation
  • Data entry accuracy and database management proficiency
  • Experience with automated payment systems and bank portals
  • Strong numeracy and analytical reasoning skills
  • Understanding of credit management and customer financial risk assessment
  • Reporting and documentation best practices for audit readiness

Soft Skills

  • Exceptional attention to detail and organizational skills
  • Strong written and verbal communication for customer interactions
  • Ability to manage multiple priorities and meet strict deadlines
  • Problem-solving and critical-thinking aptitude
  • Collaborative mindset and cross-department coordination skills
  • High level of integrity and confidentiality
  • Customer service orientation with professionalism under pressure
  • Adaptability to changing systems, tools, and business needs
  • Self-motivation and proactive approach to collections
  • Accountability for financial accuracy and process improvement

Education & Experience

Educational Background

Minimum Education:
Associate’s Degree in Accounting, Finance, or a related field

Preferred Education:
Bachelor’s Degree in Accounting, Finance, Business Administration, or related discipline

Relevant Fields of Study:

  • Accounting
  • Finance
  • Business Administration

Experience Requirements

Typical Experience Range:
2–5 years of experience in accounts receivable, billing, or general accounting

Preferred:
Experience working in a corporate finance department or shared services environment with ERP system exposure (SAP, Oracle, NetSuite, etc.), and proven track record of effective collections and reconciliations.

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