Accounts receivable personnel is required to verify and post receipts, customer payments and revenues, update receivables by adding all the unpaid bills and maintain record of the invoices. These professionals are also required to resolve billing related discrepancies being faced by the clients, enter adjusting entries for resolving valid deductions, checking the pending deductions, check the payment plans of the customers and resolve any collection related issue.
One needs to acquire a degree in accountancy in order to get into this position. Proper knowledge about the accounting terminology and processes is very essential in order to handle this position well. Many employers seek candidates who have prior work experience in this field; this helps in a better understanding of the assigned duties. Few of the duties assigned to the accounts receivables are mentioned below in detail:
Accounts receivable personnel are required to verify and post receipts in order to secure revenue. He needs to go through the receipts and scrutinize them thoroughly in order to ensure the authenticity of the receipts. Account receivable personnel are also required to post the customers’ payments. This is done by recording the credit card transactions, cash and checks.
Account receivable personnel are required to add the unpaid bills and update the receivables. He needs to maintain a record of all the pending payments and update it from time to time. These records are usually maintained by microfilming the debits, credits and invoices.
Account receivable personnel need to enter the adjusting entries by resolving valid deductions. They are also required to resolve the invalid deductions; which is done by doing follow up of the deduction procedures which are still pending.
It is the duty of the account receivable personnel to keep all the company and client information confidential. He is also required to ensure that he follows the company guidelines while performing any assigned task.