Accounts payable and accounts receivable job description

Q: What does accounts payable and receivable do?

A companys accounts payable (AP) ledger lists its short-term liabilities — obligations for items purchased from suppliers, for example, and money owed to creditors. Accounts receivable (AR) are funds the company expects to receive from customers and partners.

This Accounts Receivable Clerk job description template is optimized for posting on online job boards or careers pages. It is easy to customize this accounts receivable job description for your company. Similar job titles include Accounts Receivable Specialist, Associate and Clerk.

Table of Contents Show

Accounts Receivable Clerk responsibilities include:
Responsibilities
Requirements and skills
Frequently asked questions
Objectives of this role
Responsibilities
Required skills and qualifications
Preferred skills and qualifications
What does accounts payable and receivable do?
What is an AR or AP position?
What does an AR AP specialist do?

Accounts Receivable Clerk responsibilities include:

Processing accounting receivables and incoming payments in compliance with financial policies and procedures
Performing day to day financial transactions, including verifying, classifying, computing, posting and recording accounts receivables' data
Preparing bills receivable, invoices and bank deposits

Job brief

We are looking for a skilled Accounts Receivable Clerk to provide financial, administrative and clerical services.

Accounts receivable duties include ensuring accuracy and efficiency of operations, processing and monitoring incoming payments, and securing revenue by verifying and posting receipts.

Responsibilities

Process accounts and incoming payments in compliance with financial policies and procedures
Perform day to day financial transactions, including verifying, classifying, computing, posting and recording accounts receivables’ data
Prepare bills, invoices and bank deposits
Reconcile the accounts receivable ledger to ensure that all payments are accounted for and properly posted.
Verify discrepancies by and resolve clients’ billing issues
Facilitate payment of invoices due by sending bill reminders and contacting clients
Generate financial statements and reports detailing accounts receivable status

Requirements and skills

Proven working experience as Accounts Receivable Clerk, Accounts Receivable Manager or accountant
Solid understanding of basic accounting principles, fair credit practices and collection regulations
Proven ability to calculate, post and manage accounting figures and financial records
Data entry skills along with a knack for numbers
Hands-on experience in operating spreadsheets and accounting software (JDE or other full-scale ER software)
Proficiency in English and in MS Office
Customer service orientation and negotiation skills
High degree of accuracy and attention to detail
BS degree in Finance, Accounting or Business Administration

Frequently asked questions

What does an Accounts Receivable Clerk do?

Accounts Receivable Clerks manage and maintain customer accounts, making sure the money customers owe isn't past due.

What are the duties and responsibilities of an Accounts Receivable Clerk?

Accounts Receivable Clerks correctly bill clients for goods or services. They work with other departments to verify and record transactions and resolve account discrepancies. They also collect the correct amounts from their customers on time by providing the necessary support throughout those processes.

What makes a good Accounts Receivable Clerk?

To be a successful Accounts Receivable Clerk, you need excellent research and record-keeping skills. You also should possess superior communication abilities and strong math or computer knowledge so that your work is accurate and timely.

Who does an Accounts Receivable Clerk work with?

Typically, an Accounts Receivable Clerk works directly with customers to help them make the proper payments for goods and services. An Accounts Receivable Clerk reports to the Accounting and Administrative Manager to ensure customers make their payments on time.

Illustration of a man sitting at a desk with a computer

At [Company X], we rely on a meticulous financial system to drive business forward. Our accounts receivable department keeps that system running smoothly by managing cash influx and collecting payment from clients. We’re searching for a skilled financial specialist to join our accounts receivable team to help process, track, and record payments in an accurate, efficient, and timely manner. The accounts receivable specialist will have both a day-to-day and ongoing impact on financial transactions, keeping us on track, on time, and on good terms with our valued partners.

Objectives of this role

Support the company in optimizing our financial transactions and systems by performing reconciliation of payments and customer accounts
Communicate discrepancies to management team, identify slow-paying customers, and recommend collection candidates
Strengthen and grow relationships with clients by communicating with customers regarding past-due accounts
Assist in streamlining the accounts receivable process by identifying areas for performance improvement
Exercise integrity and confidentiality in financial reporting, and comply with national and local financial requirements

Responsibilities

Gather and verify invoices for appropriate documentation prior to payment
Maintain accounts receivable records to ensure aging is up to date, credits and collections are applied, uncollectible amounts are accounted for, and miscellaneous differences are cleared
Perform daily cash management duties, including the recording of bank deposits, updating and distribution of cash receipt logs, and posting of cash to the accounts receivable sub-ledger
Monitor and collect accounts receivable by contacting clients via telephone, email, and mail
Prepare analytical and ratio analyses relevant to A/R so management can gain a better understanding of how collection efforts are progressing
Support other accounting and finance team members, inventory management, and cost accounting

Required skills and qualifications

Strong mathematical skills
Understanding of basic principles of finance, accounting, and bookkeeping
Superb time management and detail orientation
Proficiency with Google Drive
Ability to keep company and partner confidences
Proficiency with QuickBooks Online and one of the commonly used accounting ERP systems, such as Oracle, SAP, NetSuite

Preferred skills and qualifications

Associate’s degree or equivalent
Experience in accounts receivable (or accounts payable)
Experience in driving process improvement

What does accounts payable and receivable do?

A company's accounts payable (AP) ledger lists its short-term liabilities — obligations for items purchased from suppliers, for example, and money owed to creditors. Accounts receivable (AR) are funds the company expects to receive from customers and partners.

What is an AR or AP position?

AP/AR clerks are similar to bookkeepers, in that they're both keeping sets of "books of account." An AP/AR clerk just focuses on the specific account (payables - money that needs to go out, and receivables - money that should be going in) while a bookkeeper is more of a generalist (and so you find AP/AR clerks in ...

What does an AR AP specialist do?

Summary: The AR/AP Specialist is accountable for all aspects of the accounts receivable process, including invoice calculations, payment processing, preparing financial reports, calculating and processing commissions, as well as collections (business to business).