Accounts Receivable Manager

Accounts receivable (AR) managers are responsible for overseeing the part of a company that deals with money owed to the business. AR managers must manage and coordinate billing and credit related activities such as sending invoices, determining customer credit worthiness and the amount of credit to be extended, attempting to collect on unpaid debts, updating billing records and handling most billing disputes. Some employers may also require that they be responsible for handling commissions and reporting sales tax as well. AR managers usually oversee a team, which may consist of accountants, collectors, analysts, clerks and or or credit professionals. This often varies based on the size of the company. For example, an AR manager at a small company may just oversee a few AR clerks, while a manager at a larger company may oversee a team of ten or more specialists. Regardless of the company’s size and amount of staff, AR managers are usually responsible for hiring, training and evaluating the AR staff.

An accounts receivable manager usually works a standard 40 hour work week and spends their time working in an office setting. Because this type of position is a supervisory position, most companies prefer at least an associate’s degree in accounting, business administration, bookkeeping or a related field. Companies usually also require at least five years of experience in an AR department and require applicants to have demonstrated some leadership experience.

As an Accounts Receivable Manager with 3-6 years of experience in Australia, your main responsibilities include:

• Oversee the accounts receivable process, ensuring accurate and timely invoicing, cash application, and collections. Monitor and maintain customer accounts, ensuring all payments are received and properly recorded.
• Conduct regular credit assessments and set credit limits for customers. Evaluate creditworthiness of new and existing customers and make informed decisions on credit terms and limits.
• Manage relationships with clients, resolving any billing or payment issues. Communicate effectively with customers to resolve disputes, negotiate payment plans, and maintain positive relationships.
• Generate financial reports and provide analysis on accounts receivable performance.

For an Accounts Receivable Manager, the following qualifications are required:

• In-depth knowledge of accounts receivable principles and practices, including billing, collections, and cash applications, to effectively manage the company's receivables portfolio.
• Strong analytical skills to analyze customer payment trends, identify potential issues or discrepancies, and implement strategies to improve collection efforts and reduce outstanding balances.
• Excellent communication and interpersonal skills to liaise with clients, resolve payment disputes, and maintain positive relationships, ensuring timely resolution and customer satisfaction.
• Leadership abilities to oversee the accounts receivable team, providing guidance, motivation, and support, while fostering a collaborative and efficient work environment.

The role of an Accounts Receivable Manager is crucial in maintaining efficient financial operations and optimizing cash flow in Australia. With 3-6 years of experience, professionals in this field can consider various alternative roles. Here are four options to explore:

• Senior Accountant: This role entails more extensive responsibilities, such as financial reporting and regulatory compliance.
• Treasury Manager: Focuses on managing cash and liquidity requirements for an organization, including forecasting, risk management, and investment activities.
• Procurement Manager: Involves managing supplier relationships, negotiating contracts, and overseeing purchasing processes.
• Financial Analyst: Concentrates on monitoring financial performance, developing forecasts, and providing insights to support strategic decision-making.

According to the latest data available, the job role of Accounts Receivable Manager in Australia is projected to experience steady growth in the market. A 10-year analysis indicates a consistent demand for professionals in this position, with an increasing number of businesses recognizing the importance of effective accounts receivable management. The role is expected to witness a significant rise in employment opportunities, suggesting a positive outlook for individuals seeking careers in this field. Considered these factors, the future of the Accounts Receivable Manager position appears promising, making it a potentially favorable career choice for aspiring professionals.