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 near Canada
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.
Years of Experience Distribution
Lead Accounts Receivable Specialist Insights
Caterpillar“I loved working with my team and the manager was the best I have ever had!”
iHeartMedia“They do pay into your HSA each year though and pay for LifeLock which is nice.”
Helia Healthcare“Great industry to work in and make a difference in the lives of the elderly.”
Waterlogic International“The pay was great and I liked the special projects they had me working on.”
Life Care Centers of America“Low pay for all of the work and they don't want to pay overtime.”
VWR International“Comfortable place to start the career but not the best place to stay too long.”
UPS Supply Chain Solutions“Their pay is decent if you don’t have a degree but if you do it’s crap.”
Omega Healthcare“Good place to work and job security is good”
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.
Successful accounts receivable specialists can get paid well. The average salary for accounts receivable specialists in Canada is $55,923 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 $46,307 to $69,497 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.
Get anonymous career insights from your peers
Insurance
A community for Insurance industry professionals
How much of a pay cut would you entertain to stay WFH, or work at an office 15 minutes away from your house? I moved companies during COVID, was told verbally my position would be remote, now starting to get pressure to go in the office and have a feeling it’s going to be mandatory multiple days a week, it’s a 50 minute commute. My prior company wants me back, is local and I really enjoyed working there. I don’t know how much they’d offer but I know they can’t match my bonus.