Accounts Receivable Coordinator Salary
The average Accounts Receivable Coordinator in the United States earns approximately $16.85 per hour. Geographic location is the biggest factor affecting pay for this group, followed by tenure. Medical benefits are awarded to most, and a strong majority earn dental coverage. There are far more female Accounts Receivable Coordinators who answered the questionnaire than men, making up 89 percent. Most Accounts Receivable Coordinators report high levels of job satisfaction. This overview is based on answers to PayScale's salary questionnaire.
Job Description for Accounts Receivable Coordinator
The accounts receivable coordinator is typically responsible for all aspects of the account department. This includes processing customer invoicing and other administrative duties. Normally, an accounts receivable coordinator is responsible for correctly processing and recording customer payments and checks on a regular basis. They also must be a good communicator to work with the customers and get payment for overdue invoices. Additionally, they must know how to use relevant software programs for processing invoices and recording data; they also should know how to resolve discrepancies related to invoices. Also, these coordinators need to be able to answer phone calls in a friendly and professional manner. They also need to be able to perform any back-up duties as needed with the accounting team and be able to support that team with project-based assignments.Read More...
The typical accounts receivable coordinator needs to have strong customer service skills and must be able to form good relationships with their customers. He or she needs to be able to work independently and be skilled in basic computer software (such as the Microsoft Office suite). In terms of educational requirements, employers typically ask for a minimum of a high school degree with accounting experience. A bachelor's degree in accounting may be preferred.
Accounts Receivable Coordinator Tasks
- Monitor overdue accounts, receive payments and post amounts paid to customer accounts.
- Prepare statements to credit department if customer fails to respond.
- Locate and notify customers of delinquent accounts by mail or telephone.
Common Career Paths for Accounts Receivable Coordinator
Accounts Receivable Coordinators who transition into new roles such as Staff Accountant may see a slight upturn in salary. The average Staff Accountant earns $44K per year. Career advancement for the typical Accounts Receivable Coordinator often leads to becoming an Accounts Receivable Manager or an Accounts Receivable Supervisor; median salaries in these positions are $5K higher and $6K higher, respectively.
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Popular Skills for Accounts Receivable Coordinator
Overall, survey participants reported applying a fair number of skills to their work. Most notably, skills in Credit Control, Accounts Payable, Microsoft Office, and Collections are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Microsoft Word. Those proficient in Accounts Receivable are, more often than not, also skilled in Billing and Collections.
Pay by Experience Level for Accounts Receivable Coordinator
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Although individuals who have less than five years' experience earn $36K on average, people with five to 10 years benefit from a notably larger average of $38K. On average, Accounts Receivable Coordinators make $41K following one to two decades on the job. Accounts Receivable Coordinators who surpass 20 years on the job report pay that isn't higher than those with 10 to 20 years.
Pay Difference by Location
New York is home to an above-average pay rate for Accounts Receivable Coordinators, 19 percent higher than the national average. Accounts Receivable Coordinators can also look forward to large paychecks in cities like Dallas (+15 percent), Denver (+13 percent), St. Louis (+13 percent), and Indianapolis (+7 percent). Cleveland is the lowest-paying area, 8 percent south of the national average. Employers also pay below the national average in Baton Rouge (7 percent lower) and Philadelphia (5 percent lower).