AR Associate Job Description Template
The AR Associate will play a critical role in the finance department by ensuring the effective management of the company’s receivables. This involves processing invoices, tracking payments, and maintaining accurate financial records. The AR Associate will also work closely with clients and internal teams to resolve any payment discrepancies.
Responsibilities
- Process and manage invoices for customers
- Collect payments and deposit transactions
- Reconcile accounts and maintain accuracy of records
- Coordinate with clients to resolve any discrepancies
- Prepare financial and accounting reports as needed
- Monitor aging receivables and follow up on overdue accounts
- Support month-end and year-end closing processes
Qualifications
- Bachelor’s degree in Accounting, Finance, or related field
- 1-3 years of experience in accounts receivable or similar role
- Strong analytical and numerical skills
- Excellent attention to detail and accuracy
- Proficiency in Microsoft Office, especially Excel
- Strong communication and interpersonal skills
Skills
- Accounts Receivable Management
- Invoicing
- Payment Reconciliation
- Financial Reporting
- Microsoft Excel
- Accounting Software
- Analytical Skills
- Attention to Detail
Frequently Asked Questions
An AR Associate, or Accounts Receivable Associate, is responsible for managing incoming payments, ensuring their accuracy and timely processing. Their duties often include maintaining the billing system, generating invoices and account statements, and reconciling the accounts receivable ledger to ensure all payments are accurately recorded. They also engage in follow-up communication with clients to resolve payment issues and discrepancies.
To become an AR Associate, candidates typically need a high school diploma or equivalent, although some employers may prefer an associate degree in accounting or finance. Experience with accounting software like QuickBooks, SAP, or Oracle is often required. Strong analytical, communication, and organizational skills are crucial, along with attention to detail and competence in MS Excel. Candidates should also demonstrate proficiency in managing financial records and client interactions.
The average salary for an AR Associate can vary based on factors such as location, industry, and experience level. Generally, AR Associates earn a competitive wage, with opportunities for growth and advancement in larger companies. Salaries may also be influenced by the candidate's expertise in specific accounting software and best practices in financial management, alongside additional benefits like bonuses or healthcare plans.
An AR Associate typically needs a high school diploma or more advanced education such as an associate degree in accounting, finance, or a related field. Familiarity with accounting software and experience in similar roles are beneficial. Key qualifications include numerical accuracy, problem-solving skills, and the ability to work independently and as part of a team. Certifications in accounting or finance can boost candidacy.
Key skills for an AR Associate include proficiency in accounting software, strong analytical and problem-solving abilities, and excellent communication skills. Their responsibilities cover managing and tracking receivables, reconciling accounts, preparing financial reports, and resolving discrepancies. Attention to detail and the ability to manage time effectively are essential for success in this role, as well as maintaining accurate financial records.