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What do I need to study to become an Accounts Receivable Officer?


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What is an Accounts Receivable Officer?

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 do Accounts Receivable Officers do?

  • 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.

Career snapshot for Accounts Receivable Officer

  • The average age of working Accounts Receivable Officers is 43.
  • 17.00% of Accounts Receivable Officers are male.
  • 62.90% of Accounts Receivable Officers work full-time and on average they work around 36.6 hours per week.
  • With A Certificate II or III, Accounts Receivable Officers get paid $1,071 per week Before Tax.
  • Unemployment levels are average.
  • In 2015 records showed 137,400 employed Accounts Receivable Officers.
  • The projected growth of the profession is estimated to be stable with employment numbers around 133,900 by 2020.