Accounts Receivable Specialists

Accounts receivable specialists perform a variety of duties to ensure the proper functioning of businesses and other organizations. At some employers, they prepare and send invoices to customers, vendors, and others who have purchased a product or service. (Billing clerks handle this task at some employers.)

Accounts receivable specialists accept and process payments from customers and vendors. Payments are made via checks, cash, wire transfers, and credit cards. They also accept payments via the telephone. Specialists verify that the invoice number, payment amount, and other information are correct before recording the payment in their organization’s accounting system and sending a receipt to the payer. Accounts receivable specialists at large companies may process dozens of payments a day, so they must be able to work quickly and accurately to meet productivity goals that have been established by their employer. 

In some cases, accounts receivable specialists must resolve discrepancies between customer payments and invoices. For example, a customer may overpay or underpay an invoice, and the specialist must contact them to clarify the issue. Specialists may also work with colleagues in other departments to resolve payment issues and discrepancies. More serious issues include late payment and non-payment of invoices. If an expected payment is late, accounts receivable specialists communicate with customers regarding their past-due accounts to reinforce payment policies and terms. They may also alert their supervisors or department managers regarding the issue—especially if a large amount of money is unpaid. The specialist stays in communication with the customer until the money is paid. If a customer refuses to pay the invoice, the accounts receivable specialist informs their manager, who may hire a bill collection agency to recover the funds.  

Other important tasks for accounts receivable specialists include assisting accounting and finance teams in month-end and year-end closing processes, writing reports related to accounts receivable activity, collaborating with internal teams to ensure accurate reporting and compliance with company standards, and identifying and suggesting process improvements to enhance accuracy and reduce manual tasks.