Accounts Receivable Manager

The Accounts Receivable (AR) Managers are accountable for overseeing the portion of a business that deals with the monies owed to the company. AR managers are required to manage and coordinate credit and billing related tasks like mailing invoices and determining a customer's creditworthiness and how much credit that can be extended, trying to collect unpaid debts as well as updating accounts for billing and handling the majority of billing disputes. Certain employers might also demand that they are responsible for managing sales tax and commissions, as well as reporting in addition. AR managers typically oversee the team, which could comprise analysts, accountants, collectors or credit professionals, as well as clerks. It is usually contingent upon how big the business. For instance the AR manager in a small company might only oversee just a handful of AR clerks, whereas an AR manager in a larger organization could oversee a team of 10 or more AR specialists. Whatever the size of the business and staff size, AR managers are usually accountable for hiring as well as training and reviewing the AR employees.

A manager of accounts receivable typically is employed for a 40-hour work week, and they spend their time in an office environment. Since this is a supervisory one the majority of companies require having at minimum an associate's degree in business administration, accounting or bookkeeping, or another related field. The majority of companies also need at minimum five years' working experience in an AR department, and expect applicants to demonstrate some experience in leadership.

As an Accounts Receivable Manager with 6-9 years of experience in the United Kingdom, your main responsibilities include:

• Overseeing and managing the accounts receivable function, ensuring timely and accurate billing, invoicing, and collection processes.
• Monitoring and analyzing customer accounts to identify and resolve any issues or discrepancies in payments and outstanding balances.
• Developing and implementing strategies to optimize cash flow and minimize bad debt through effective credit control and collection strategies.
• Collaborating with cross-functional teams and stakeholders to improve processes, streamline workflows, and enhance overall financial performance.

For an Accounts Receivable Manager job role, 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 ensuring efficient financial operations and cash flow management. For individuals with 6-9 years of experience in the United Kingdom, here are following alternative roles to consider:

• Senior Credit Analyst: A position that involves assessing credit risk, analyzing customer creditworthiness, and recommending credit limits to optimize cash flow.
• Financial Controller: A role focused on overseeing all financial activities, including budgeting, forecasting, and financial reporting.
• Collections Manager: A position that involves managing the collections process, developing collection strategies, and ensuring timely payment from customers.
• Revenue Recognition Specialist: A role focused on ensuring accurate and compliant revenue recognition practices, including analyzing contracts, applying revenue recognition guidance, and maintaining revenue-related documentation.

The Accounts Receivable Manager role in the United Kingdom is expected to witness steady growth in the market. Over the past 10 years, there has been a consistent demand for professionals in this position. With the increasing complexity of financial transactions in businesses, the need for skilled Accounts Receivable Managers is anticipated to rise further in the future. According to recent data from Google, there is a considerable number of employment opportunities available. This positive trend in the job market indicates a promising outlook for individuals seeking a career as an Accounts Receivable Manager in the United Kingdom.