What does Accounts Receivable Officer mean?
The Accounts Receivable Officer ensures that their company or organisation obtains accurate and timely payment for goods and services provided to customers. This involves generating and sending invoices, reminders and statements to clients, recording transactions and making bank deposits.
Following the organisation’s accounting procedures and policies, an Accounts Receivable Officer prepares financial documents such as cash flow reports, balance sheets, and profit and loss statements. They are also responsible for communicating with clients regarding payment methods, following up and reporting late payments, and liaising with banks to verify electronic cash transfers and credit card payments.
In some cases the Accounts Receivable Officer also serves in the accounts payable role, receiving and reviewing invoices, processing and sending payments, and handling internal transactions such as reimbursements and petty cash.
What is an Accounts Receivable Officer's role?
- Producing and distributing invoices to clients and following up to ensure timely payment.
- Documenting transactions and maintaining billing records.
- Liaising with customers regarding payment methods and schedules.
- Reconciling accounts.
- Identifying, resolving and reporting late or incorrect payments.
- Preparing and executing bank deposits.
- Receiving, verifying and processing incoming payments.
Fast Facts - Accounts Receivable Officer
- Average Age: 43
- Male Share: 17.00%
- Full-Time Share: 62.90%
- Average Hours: 36.6 hours per week
- Level of Study: A Certificate II or III
- Average Salary: $1,071 per week Before Tax
- Unemployment Levels: average
- 2015 Employment Numbers: 137,400
- Projected Growth: stable
- 2020 Employment Numbers: 133,900