The Accounts Receivable Accountant is responsible for managing and maintaining the accounts receivable function within an organization. This role plays a crucial part in ensuring that the company receives payments for goods or services provided and maintains accurate financial records.
Key Responsibilities:
1. Invoicing: Prepare and send out invoices to customers for products or services rendered, ensuring accuracy and compliance with company policies and relevant regulations.
2. Payment Processing: Record and process incoming payments, which may include checks, credit card payments, electronic transfers, and cash. Apply payments to customer accounts and maintain accurate records.
3. Customer Relations: Communicate with customers to resolve billing discrepancies, answer inquiries, and provide assistance with payment-related matters in a professional and customer-friendly manner.
4. Reconciliation: Regularly reconcile customer accounts to ensure that payments match outstanding invoices and resolve any discrepancies.
5. Collections: Monitor overdue accounts and follow up with customers to collect outstanding balances. Send reminders and past-due notices as necessary.
6. Credit Management: Review and assess customer credit applications and make recommendations for credit limits and terms based on creditworthiness.
7. Reporting: Generate accounts receivable reports, aging reports, and other financial statements as required by management. Provide insights into the company’s financial health based on accounts receivable data.
8. Record-Keeping: Maintain accurate and organized records of all accounts receivable transactions, including invoices, receipts, and customer correspondence.
9. Payment Posting: Post payments to the company’s accounting system, ensuring accurate allocation to the correct customer accounts and general ledger.
10. Compliance: Stay up-to-date with relevant accounting standards, tax regulations, and industry best practices to ensure compliance.
11. Month-End Close: Assist with the month-end close process, including preparing journal entries and reconciling accounts receivable subsidiary ledgers with the general ledger.
12. Team Collaboration: Collaborate with other departments, such as sales, customer service, and finance, to resolve customer-related issues and improve processes.
After the course you will gain following skills:
- Invoicing, Billing.
- Accounting basics for accounts receivable.
- Prepare the shipping for company.
- Bank reconciliation.
- Apply cash using the software.
- Collection processing.
- Follow the remittance.
- Credit management.
- Reconciliation for customer deposit and in advance.
- Prepare the Performa invoice.
- Month end closing
- Reconciliation the sales.
- AR GL maintenance.
- Revenue recognition according GAAB.
