India
Accounts Receivable Coordinator Job Description
Job Title: Accounts Receivable Coordinator
Overview/Summary of the role:
The Accounts Receivable Coordinator is responsible for managing the company's accounts receivable function. They are responsible for ensuring that customer payments are received on time and recorded accurately in the company's financial statements. They also engage with customers to troubleshoot payment issues and reconcile customer accounts.
Responsibilities and Duties:
1. Monitor customer accounts to ensure they are paid timely and accurately.
2. Work with customers to troubleshoot payment issues which may involve communicating with the sales team, customer service team, and various other stakeholders.
3. Generate and send invoices to customers.
4. Record transactions accurately in the accounting system.
5. Reconcile customer accounts and prepare monthly account statements.
6. Follow up with customers who are past due on payment.
7. Prepare and submit reports on customer payment trends.
8. Evaluate customer creditworthiness and set credit limits.
9. Develop and maintain relationships with customers to ensure prompt payment.
Qualifications and Skills:
Hard Skills:
1. Proficient in accounting software.
2. Strong knowledge of accounting principles.
3. Ability to reconcile accounts and recognize discrepancies.
4. Experience in accounts receivable management.
5. Ability to analyze financial data.
Soft Skills:
1. Excellent communication skills.
2. Ability to multitask and prioritize tasks.
3. Strong customer service skills.
4. Detail-oriented.
5. Solid problem-solving skills.
Education and Experience:
Required:
1. High school diploma or equivalent.
2. Some college coursework in accounting or relevant field.
3. Minimum of 2 years of experience in accounts receivable management.
Preferred:
1. Bachelor's degree in accounting or related field.
2. Experience in a manufacturing or distribution environment.Licensing (if applicable):
No licensing is typically required for an Accounts Receivable Coordinator.
Typical Employers:
Accounts Receivable Coordinators can work in a variety of industries, including healthcare, finance, retail, and manufacturing. Some typical employers for this position include hospitals, clinics, banks, accounting firms, and large corporations.
Work Environment:
Accounts Receivable Coordinators typically work in an office setting and spend much of their time working on a computer. At times, they may need to interact with clients or customers to handle billing or payment issues.
Career Pathways (both leading to this position and next positions):
To become an Accounts Receivable Coordinator, individuals typically need a high school diploma or equivalent, and some employers may require additional training or education in accounting or finance. Many individuals in this role go on to become Accounts Receivable Specialists, Senior Accounts Receivable Coordinators, or move into related accounting or finance positions.
Job Growth Trend (USA and Global):
According to the Bureau of Labor Statistics (BLS), the employment of all bookkeeping, accounting, and auditing clerks, including Accounts Receivable Coordinators, is projected to grow 4 percent from 2019 to 2029, about as fast as the average for all occupations. However, job growth may vary depending on the industry and location. The growth trend globally may vary depending on the economic conditions of each country or region.Career Satisfaction:
Accounts Receivable Coordinator position can provide good career growth opportunities and job security. The job requires analytical and communication skills, which can be developed further through experience. The role also offers the opportunity to interact with different departments and stakeholders, providing exposure to the overall functioning of the organization. Overall, the job can be satisfying for individuals who enjoy finance-related work, attention to detail, and working in a team-oriented environment.
Related Job Positions:
1. Accounts Receivable Specialist
2. Accounts Payable Coordinator
3. Accounting Clerk
4. Financial Analyst
5. Bookkeeper
6. Accounting Manager
7. Senior Accountant
8. Assistant Controller
9. Billing Coordinator
10. Payroll Specialist
Connected People (positions that would be interacting with):
1. Accounts Payable Coordinator
2. Billing Specialist
3. Credit Analyst
4. Sales Representatives
5. Finance Manager
6. Controller
7. Customer Service Representative
8. Internal/External Auditors
9. Accountant
10. Senior Management
Average Salary (USA, UK, Germany, India, Brazil):
1. USA: $44,000 - $60,000
2. UK: £25,000 - £35,000
3. Germany: €30,000 - €40,000
4. India: INR 240,000 - INR 550,000
5. Brazil: R$35,000 - R$50,000
Note: The salary may vary based on the company size, industry, location, and years of experience.
Benefits Package:
The benefits package for Accounts Receivable Coordinator can vary among companies. However, typical benefits include health insurance, dental insurance, life insurance, retirement plans, paid time off, and employee discounts. Some companies may also offer wellness programs, tuition reimbursement, and other perks.
Schedule and Hours Required:
Accounts Receivable Coordinator position usually requires 40 hours of work per week, Monday to Friday. Sometimes, the job may require additional hours, especially during month end or year-end closing. Some companies may offer flexible schedules or work from home options. Additionally, the job is usually full-time, but part-time or contract positions may also be available.Level of Autonomy:
As an Accounts Receivable Coordinator, you will work under the supervision of the Accounts Receivable Manager or Accounting Manager. You will be responsible for performing various tasks, such as processing invoices and payments, reconciling accounts, and tracking outstanding balances. However, you will need to follow established procedures and guidelines when performing these tasks to ensure accuracy and compliance with company policies and accounting standards. You may also need to consult with the Accounts Receivable Manager or other team members if you encounter any issues or discrepancies.
Opportunities for Professional Development and Advancement:
As an Accounts Receivable Coordinator, you can gain valuable experience working in a finance or accounting department, which can help you advance your career in this field. You may be able to move up to a higher-level role, such as Accounts Receivable Manager or Senior Accountant, with additional experience and training. There may also be opportunities to learn other aspects of accounting or finance, such as financial analysis, reporting, or budgeting, which can expand your skill set and make you a more valuable asset to the company.
Specialized Skills or Knowledge Required:
To be successful as an Accounts Receivable Coordinator, you should have a solid understanding of accounting principles and practices, as well as strong analytical and problem-solving skills. You should also have excellent communication and interpersonal skills, as you will need to interact with customers, vendors, and other stakeholders regularly. Additionally, you should be proficient in using accounting software programs, such as QuickBooks, Excel, and SAP, to perform your job duties more efficiently.
Physical Demands:
Accounts Receivable Coordinator positions are typically office-based roles and do not require any heavy lifting or physical exertion. However, you may need to spend long hours sitting in front of a computer, which can cause eyestrain, fatigue, or muscle stiffness. Therefore, it is essential to take regular breaks and maintain good posture to prevent any physical discomfort.
Tools and Technologies Used:
As an Accounts Receivable Coordinator, you will use various tools and technologies to perform your job duties, including accounting software programs like QuickBooks or SAP, Excel spreadsheets, and other productivity tools such as Google Docs or Microsoft Office Suite. You will also use office equipment such as printers, fax machines, and scanners, as well as online payment portals, banking websites, and relevant business applications to process invoices, record transactions, and track payments.Work Style:
As an Accounts Receivable Coordinator, the individual must possess strong analytical, organizational, and problem-solving skills. They should be detail-oriented and have the ability to multitask, prioritize responsibilities, and work well under pressure. The role requires proficiency in financial software and technology, including Excel and accounting software to manage transactions and report results accurately. The individual should be able to maintain a high level of accuracy and integrity in their work and ensure compliance with company policies and guidelines.
Working Conditions:
As an Accounts Receivable Coordinator, the job requires working in an office environment. The individual should be comfortable sitting and working on a computer for extended periods. They must be able to handle frequent interruptions from phone calls, emails, and other communication channels. The work schedule may vary depending on the needs of the company, but it typically falls within standard business hours.
Team Size and Structure:
The Accounts Receivable Coordinator typically works within the finance department and reports to the Accounts Receivable Manager. The team size varies depending on the size of the company, but they may work with other coordinators or accountants to manage the company's financial transactions.
Collaboration and Communication Requirements:
The Accounts Receivable Coordinator must have strong communication skills to interact with clients, salespeople, and other departments in the company. They should also be able to collaborate with their team members to ensure accurate financial reporting and address any issues that may arise. It is essential to communicate with customers regularly to ensure timely payments and resolve any disputes.
Cultural Fit and Company Values:
The Accounts Receivable Coordinator should align with the company's values and culture. They must demonstrate a customer-centric approach and prioritize providing high-quality service to clients. The individual should be proactive and take ownership of their work while adhering to the company's policies and guidelines. It is essential to be innovative and seek opportunities to improve efficiencies and processes within the finance department.
Overview/Summary of the role:
The Accounts Receivable Coordinator is responsible for managing the company's accounts receivable function. They are responsible for ensuring that customer payments are received on time and recorded accurately in the company's financial statements. They also engage with customers to troubleshoot payment issues and reconcile customer accounts.
Responsibilities and Duties:
1. Monitor customer accounts to ensure they are paid timely and accurately.
2. Work with customers to troubleshoot payment issues which may involve communicating with the sales team, customer service team, and various other stakeholders.
3. Generate and send invoices to customers.
4. Record transactions accurately in the accounting system.
5. Reconcile customer accounts and prepare monthly account statements.
6. Follow up with customers who are past due on payment.
7. Prepare and submit reports on customer payment trends.
8. Evaluate customer creditworthiness and set credit limits.
9. Develop and maintain relationships with customers to ensure prompt payment.
Qualifications and Skills:
Hard Skills:
1. Proficient in accounting software.
2. Strong knowledge of accounting principles.
3. Ability to reconcile accounts and recognize discrepancies.
4. Experience in accounts receivable management.
5. Ability to analyze financial data.
Soft Skills:
1. Excellent communication skills.
2. Ability to multitask and prioritize tasks.
3. Strong customer service skills.
4. Detail-oriented.
5. Solid problem-solving skills.
Education and Experience:
Required:
1. High school diploma or equivalent.
2. Some college coursework in accounting or relevant field.
3. Minimum of 2 years of experience in accounts receivable management.
Preferred:
1. Bachelor's degree in accounting or related field.
2. Experience in a manufacturing or distribution environment.Licensing (if applicable):
No licensing is typically required for an Accounts Receivable Coordinator.
Typical Employers:
Accounts Receivable Coordinators can work in a variety of industries, including healthcare, finance, retail, and manufacturing. Some typical employers for this position include hospitals, clinics, banks, accounting firms, and large corporations.
Work Environment:
Accounts Receivable Coordinators typically work in an office setting and spend much of their time working on a computer. At times, they may need to interact with clients or customers to handle billing or payment issues.
Career Pathways (both leading to this position and next positions):
To become an Accounts Receivable Coordinator, individuals typically need a high school diploma or equivalent, and some employers may require additional training or education in accounting or finance. Many individuals in this role go on to become Accounts Receivable Specialists, Senior Accounts Receivable Coordinators, or move into related accounting or finance positions.
Job Growth Trend (USA and Global):
According to the Bureau of Labor Statistics (BLS), the employment of all bookkeeping, accounting, and auditing clerks, including Accounts Receivable Coordinators, is projected to grow 4 percent from 2019 to 2029, about as fast as the average for all occupations. However, job growth may vary depending on the industry and location. The growth trend globally may vary depending on the economic conditions of each country or region.Career Satisfaction:
Accounts Receivable Coordinator position can provide good career growth opportunities and job security. The job requires analytical and communication skills, which can be developed further through experience. The role also offers the opportunity to interact with different departments and stakeholders, providing exposure to the overall functioning of the organization. Overall, the job can be satisfying for individuals who enjoy finance-related work, attention to detail, and working in a team-oriented environment.
Related Job Positions:
1. Accounts Receivable Specialist
2. Accounts Payable Coordinator
3. Accounting Clerk
4. Financial Analyst
5. Bookkeeper
6. Accounting Manager
7. Senior Accountant
8. Assistant Controller
9. Billing Coordinator
10. Payroll Specialist
Connected People (positions that would be interacting with):
1. Accounts Payable Coordinator
2. Billing Specialist
3. Credit Analyst
4. Sales Representatives
5. Finance Manager
6. Controller
7. Customer Service Representative
8. Internal/External Auditors
9. Accountant
10. Senior Management
Average Salary (USA, UK, Germany, India, Brazil):
1. USA: $44,000 - $60,000
2. UK: £25,000 - £35,000
3. Germany: €30,000 - €40,000
4. India: INR 240,000 - INR 550,000
5. Brazil: R$35,000 - R$50,000
Note: The salary may vary based on the company size, industry, location, and years of experience.
Benefits Package:
The benefits package for Accounts Receivable Coordinator can vary among companies. However, typical benefits include health insurance, dental insurance, life insurance, retirement plans, paid time off, and employee discounts. Some companies may also offer wellness programs, tuition reimbursement, and other perks.
Schedule and Hours Required:
Accounts Receivable Coordinator position usually requires 40 hours of work per week, Monday to Friday. Sometimes, the job may require additional hours, especially during month end or year-end closing. Some companies may offer flexible schedules or work from home options. Additionally, the job is usually full-time, but part-time or contract positions may also be available.Level of Autonomy:
As an Accounts Receivable Coordinator, you will work under the supervision of the Accounts Receivable Manager or Accounting Manager. You will be responsible for performing various tasks, such as processing invoices and payments, reconciling accounts, and tracking outstanding balances. However, you will need to follow established procedures and guidelines when performing these tasks to ensure accuracy and compliance with company policies and accounting standards. You may also need to consult with the Accounts Receivable Manager or other team members if you encounter any issues or discrepancies.
Opportunities for Professional Development and Advancement:
As an Accounts Receivable Coordinator, you can gain valuable experience working in a finance or accounting department, which can help you advance your career in this field. You may be able to move up to a higher-level role, such as Accounts Receivable Manager or Senior Accountant, with additional experience and training. There may also be opportunities to learn other aspects of accounting or finance, such as financial analysis, reporting, or budgeting, which can expand your skill set and make you a more valuable asset to the company.
Specialized Skills or Knowledge Required:
To be successful as an Accounts Receivable Coordinator, you should have a solid understanding of accounting principles and practices, as well as strong analytical and problem-solving skills. You should also have excellent communication and interpersonal skills, as you will need to interact with customers, vendors, and other stakeholders regularly. Additionally, you should be proficient in using accounting software programs, such as QuickBooks, Excel, and SAP, to perform your job duties more efficiently.
Physical Demands:
Accounts Receivable Coordinator positions are typically office-based roles and do not require any heavy lifting or physical exertion. However, you may need to spend long hours sitting in front of a computer, which can cause eyestrain, fatigue, or muscle stiffness. Therefore, it is essential to take regular breaks and maintain good posture to prevent any physical discomfort.
Tools and Technologies Used:
As an Accounts Receivable Coordinator, you will use various tools and technologies to perform your job duties, including accounting software programs like QuickBooks or SAP, Excel spreadsheets, and other productivity tools such as Google Docs or Microsoft Office Suite. You will also use office equipment such as printers, fax machines, and scanners, as well as online payment portals, banking websites, and relevant business applications to process invoices, record transactions, and track payments.Work Style:
As an Accounts Receivable Coordinator, the individual must possess strong analytical, organizational, and problem-solving skills. They should be detail-oriented and have the ability to multitask, prioritize responsibilities, and work well under pressure. The role requires proficiency in financial software and technology, including Excel and accounting software to manage transactions and report results accurately. The individual should be able to maintain a high level of accuracy and integrity in their work and ensure compliance with company policies and guidelines.
Working Conditions:
As an Accounts Receivable Coordinator, the job requires working in an office environment. The individual should be comfortable sitting and working on a computer for extended periods. They must be able to handle frequent interruptions from phone calls, emails, and other communication channels. The work schedule may vary depending on the needs of the company, but it typically falls within standard business hours.
Team Size and Structure:
The Accounts Receivable Coordinator typically works within the finance department and reports to the Accounts Receivable Manager. The team size varies depending on the size of the company, but they may work with other coordinators or accountants to manage the company's financial transactions.
Collaboration and Communication Requirements:
The Accounts Receivable Coordinator must have strong communication skills to interact with clients, salespeople, and other departments in the company. They should also be able to collaborate with their team members to ensure accurate financial reporting and address any issues that may arise. It is essential to communicate with customers regularly to ensure timely payments and resolve any disputes.
Cultural Fit and Company Values:
The Accounts Receivable Coordinator should align with the company's values and culture. They must demonstrate a customer-centric approach and prioritize providing high-quality service to clients. The individual should be proactive and take ownership of their work while adhering to the company's policies and guidelines. It is essential to be innovative and seek opportunities to improve efficiencies and processes within the finance department.