How to Become an Accounts Receivable Analyst
Step 1: Understand the job description and responsibilities of an Accounts Receivable Analyst
What does an Accounts Receivable Analyst do?
AN Accounts Receivable Analyst analyzes accounts receivable transactions to ensure compliance with internal controls and accounting policies. Maintains and reconciles accounts receivable ledger to ensure accurate and timely receipt of payments. Being an Accounts Receivable Analyst utilizes AR data to identify trends, inefficiencies, delinquent accounts, and opportunities for improvements to accounts receivable policies and procedures. Generates reports to bring insight into collections, account ages, and other relevant metrics and relays conclusions to management. Additionally, Accounts Receivable Analyst investigates and resolves discrepancies in billings and collections. Analyzes customer credit history, determines credit risk, and recommends credit limits and payment terms. May be responsible for ad hoc customer billing and responding to customer inquiries regarding bills. Requires a bachelor's degree. Typically reports to a manager. The Accounts Receivable Analyst occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. To be an Accounts Receivable Analyst typically requires 2-4 years of related experience.
The analyst may participate in collection activities, including the investigation of potential billing errors.
As part of the accounts receivable process, an analyst may recommend changes to a customer's credit limit and help reconcile an account's payment history.
Part of the analyst's job is to make sure that the credit terms are being followed and that any discrepancies and misunderstandings related to the credit terms are resolved promptly.
In addition to resolving any record errors, an accounts receivable analyst must periodically monitor each customer's account and payment activity.
If a customer is consistently delinquent, the analyst may need to modify credit terms by reducing limits and increasing late fees or finance charges.
Step 2: Learn best tips to become an Accounts Receivable Analyst
Best tips for those who want to become an Accounts Receivable Analyst
Here are some tips to become an Accounts Receivable Analyst.
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Step 3: View best colleges and universities for Accounts Receivable Analyst
Best colleges and universities for Accounts Receivable Analyst
- Florida Southern College
- Colby College
- Dartmouth College
- University of Notre Dame
- Western Washington University
- Canisius College
Step 4: Think about whether is it worth to be an Accounts Receivable Analyst
Is being an Accounts Receivable Analyst Worth it?
Accounts Receivable CoordinatorAccounts Receivable CoordinatorVelvetJobsNew York, NY2 weeks ago.
4-5 years of experience in healthcare or Accounts Receivable, and understanding of Accounts Receivable and General Ledger in accordance with GAAP.
To find out more about or apply to this Accounts Receivable Analyst job—and other great opportunities like it—become a FlexJobs member today.
Accounts Receivable Analyst Feb 23 Full-Time, Freelance Job Candidates need to be able to work in the City or State specified Alpharetta, GA.
Financial Analyst Jan 31 Full-Time, Option for Remote Job.
Step 5: Prepare relevant skills for being an Accounts Receivable Analyst
What skills do you need to be an Accounts Receivable Analyst?
When looking into a role like this one, you need to take account of your skills and abilities. The ability to succeed in this role depends upon the possession of the following skills: Accounts Receivable, Billing, Data Entry-Keyboarding, Dunning, Financial Statements, Invoice Management, GAAP Standards. Although not always necessary, a grasp of these skills can help: AR Automation Software. During an interview, try to convey your knowledge of these skills.
The accounts receivable analyst job description also covers monitoring purchase activities of customers, and limiting or terminating the privileges available to some of them where it is discovered that the customer has a lot of unpaid balance.
It is highly imperative for receivable analysts to be proficient in running reports, and in carrying out accurate record keeping.
The analyst needs to have the ability to create accurate records and perform proper documentation, so as to be able to keep track on sales and account.
By understanding where payment is owed, the receivable analyst would have a sense of direction to be able to retrieve outstanding payments.
To have an edge in the job market over other applicants for the position of accounts receivable analyst, you will need to present a great resume to hiring managers.
Step 6: View average salary for Accounts Receivable Analyst
How much does an Accounts Receivable Analyst make?
The average salary range for an Accounts Receivable Analyst is from $54,749 to $71,741. The salary will change depending on your location, job level, experience, education, and skills.
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Average salary for Accounts Receivable Analyst jobs
Step 7: Find relevant Accounts Receivable Analyst jobs, and apply.
Looking for Accounts Receivable Analyst jobs?
Here are some Accounts Receivable Analyst jobs in the United States.