What does a Lead Accounts Receivable Specialist do?
Accounts receivable specialists are tasked with overseeing billing operations and processes in order to ensure collection of account balances. This generally entails billing for invoiced orders, supporting collection efforts, and reviewing account disrepancies. Accounts receivable specialists are needed in a variety of accounting environments.
Most accounts receivable specialists have an associate's degree in accounting. The best accounts receivable specialists have a knack for numbers, are very outcome oriented, and have strong prioritization skills.
- Process accounts receivable transactions
- Continuous evaluation of current policies and recommendations for process improvements
- Handle sensitive information in a confidential manner
- Provide support for internal and external audits
- Prepare cash receipts for processing
- Perform account reconciliations in a timely and accurate manner
- Manage collection efforts and associated functions
- At minimum, an associate's degree in Accounting or related field
- 2-3 years of experience with collections, invoicing, and/or accounts receivable
- Proficient in Microsoft Office applications
- Knowledge of GAAP and basic accounting principles
- Strong attention to detail with a dedication to accuracy
- Excellent verbal and written communication skills
- Ability to analyze large sets of data
- High degree of familiarity with accounts receivable functions
Lead Accounts Receivable Specialist Salaries
Average Base Pay
Lead Accounts Receivable Specialist Career Path
Learn how to become a Lead Accounts Receivable Specialist, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Average Years of Experience
Lead Accounts Receivable Specialist Insights
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Lead Accounts Receivable Specialist Interviews
Frequently asked questions about the role and responsibilities of accounts receivable specialists
The typical day of an accounts receivable specialist includes contacting clients or customers and settling payments on their accounts. They achieve this by sending invoices and keeping records of payments made. They also perform other duties, such as making bank deposits, answering customer questions about billing, and auditing the ledgers to ensure accuracy when necessary.
Working as an accounts receivable specialist can provide an excellent work-life balance. That's because they usually work normal business hours from 9 to 5. Most often, specialists perform their duties strictly during those hours, which means they don't bring any work home with them. Depending on where they work, some specialists can also work remotely.
Yes, accounts receivable specialists get paid well. The average salary for accounts receivable specialists is $48,301 per year. However, depending on where they work and their relevant experience, some specialists can make even more. For instance, if they earn a lead or senior specialist position, they can make anywhere from $35,109 to $66,450 per year.
Though there are many benefits to becoming an accounts receivable specialist, there are also some challenges. One of the biggest is their workload. It's possible that some specialists might have a lot of accounts to contact and records to maintain during their workday. To help balance that, it's helpful if they have excellent prioritization and organization skills.