What does an Accounts Receivable Analyst do?
Published 4 min read
An accounts receivable analyst is responsible for a company's accounts receivable, which includes invoicing customers and following up on payments. They work closely with the accounting and finance departments to ensure that all payments are properly recorded and that any discrepancies are resolved in a timely manner.
Accounts Receivable Analyst job duties include:
- Maintaining the Company’s accounts receivable aging reports
- Posting daily cash receipts
- Reconciling customer accounts
- Investigating and resolving customer account discrepancies
- Processing customer refunds and adjustments
- Assisting with monthly closings
- Generating monthly financial reports
- Maintaining accurate records of all invoices, payments, and adjustments
- Providing excellent customer service
Accounts Receivable Analyst Job Requirements
Most employers require accounts receivable analysts to have at least a bachelor's degree in accounting, finance, or a related field. Some employers may prefer candidates who have a master's degree or professional certification, such as a Certified Public Accountant (CPA) or Certified Management Accountant (CMA). Many accounts receivable analysts have several years of experience working in accounting or finance roles. Strong analytical, math, and computer skills are essential for this position, as is the ability to multitask and meet deadlines.
Accounts Receivable Analyst Skills
- Accounts Receivable
- Financial Analysis
- Accounts Payable
- Accounts Receivable Management
- Customer Service
- Invoicing
- Collections
- Data Entry
- QuickBooks
- Microsoft Excel
- 10 Key
- Bookkeeping
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How to become an Accounts Receivable Analyst
An accounts receivable analyst is responsible for ensuring that a company's customers are paying their invoices on time. This position requires strong analytical and problem-solving skills, as well as the ability to effectively communicate with customers and other members of the accounting team. If you are interested in becoming an accounts receivable analyst, here are a few things you should do:
1. Get a degree in accounting or a related field. While you can become an analyst without a formal education, most employers prefer candidates who have at least a bachelor's degree in accounting or a related field.
2. Develop your analytical skills. As an analyst, you will be responsible for reviewing data and financial statements to identify trends and issues. Strong analytical skills are essential for this role.
3. Build your communication skills. You will need to be able to effectively communicate with customers and other members of the accounting team. This includes being able to clearly explain complex financial concepts in plain language.
4. Get experience in accounts receivable. Many analysts start out in entry-level positions such as accounts receivable clerks or customer service representatives. This experience can be helpful in understanding the inner workings of the accounts receivable process and developing relationships with customers.
5. Consider pursuing certification. Although not required, some employers may prefer candidates who have earned professional certification such as the Certified Accounts Receivable Professional (CARP) designation from the Institute of Financial Operations.
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