Accounts Receivable Processor Salary
Job Description for Accounts Receivable Processor
Accounts receivable processors receive and keep track of payments on different accounts and other deposits or funds transferred by the company. The accounts receivable processor makes daily deposits of funds collected by the company into specified bank accounts. This position also requires reporting the amount of funds deposited or transferred to the accounting department. Accounts receivable clerks may also contact clients who owe the company money in order to collect funds or make reminders of payments. They may handle payroll and distribute paychecks to employees as well.Read More...
A typical day for an accounts receivable clerk may involve payroll distributions, data entry into company software, collection of payments from clientele, distribution of payments for services rendered for the company, deposits of payments, and communication with the accounting department to verify amounts of money received or distributed.
Accounts receivable clerks work indoors in an office setting. These positions are full time and take place during regular business hours, and they rarely involve a changing schedule. Accounts receivable processors are hired by a variety of large or small businesses; potential employers include schools, hospitals, healthcare and staffing companies, security services, and other businesses that have numerous employees and regularly make or receive payments for services.
A bachelor’s degree is generally recommended for this position, usually in accounting, human resources, or a related subject; however, some positions only require a high school diploma or equivalent and three to five years of related work experience. Accounts receivable processors must have experience with payroll and accounting software, as well as good communication skills.
Accounts Receivable Processor Tasks
- Balance daily and month end accounts receivable to general ledger balances.
- Under direction investigate outstanding invoices, make collection calls, negotiate payment terms, and processes liens for collections when necessary.
- Enter data into accounts receivable general ledger accounts.
Accounts Receivable Clerk Job Listings
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Popular Skills for Accounts Receivable Processor
Survey takers who work as Accounts Receivable Processors typically report just a few professional skills. Those who have experience with Microsoft Office, Microsoft Excel, and Accounts Receivable can expect to be compensated well for these skills. Most people who know Accounts Receivable also know Microsoft Office.
Pay by Experience Level for Accounts Receivable Processor
Median of all compensation (including tips, bonus, and overtime) by years of experience.
People who have worked for fewer than five years bring home $32K on average. Median compensation in the five-to-10 year group, however, is higher at approximately $35K. Accounts Receivable Processors see a median salary of $38K after reaching one to two decades on the job. Folks with more than two decades of experience actually report lower incomes overall; their average comes out to a mere $36K.