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Account receivable associate vs finance clerk

The differences between account receivable associates and finance clerks can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-12 months to become an account receivable associate, becoming a finance clerk takes usually requires 4-6 years. Additionally, an account receivable associate has an average salary of $43,252, which is higher than the $39,225 average annual salary of a finance clerk.

The top three skills for an account receivable associate include customer service, data entry and patients. The most important skills for a finance clerk are data entry, purchase orders, and HR.

Account receivable associate vs finance clerk overview

Account Receivable AssociateFinance Clerk
Yearly salary$43,252$39,225
Hourly rate$20.79$18.86
Growth rate-8%-5%
Number of jobs79,264143,372
Job satisfaction--
Most common degreeBachelor's Degree, 55%Bachelor's Degree, 44%
Average age4651
Years of experience126

What does an account receivable associate do?

An account receivable associate is responsible for collecting and posting client payments for the company's services, recording system transactions timely, and reaching out to clients for outstanding bills. Account receivable associates settle accurate receipts for records, resolve payment discrepancies, and handle other related financial transactions. They also create comprehensive financial reports to the supervisor for review and submission to the senior management. An account receivable associate reviews contract agreements and discusses payment terms with the clients.

What does a finance clerk do?

Finance clerks are financial professionals who are responsible for performing various administrative tasks such as keeping financial records, preparing bills, and delivering excellent customer service. These clerks are required to process bills, checks, receipts, and other documents to ensure that they are all properly signed and distributed. They must verify financial and other data so that they can enter those data into the database and maintain updated records. Finance clerks must also assist with account reconciliations and should report the status of accounts and discrepancies to the management.

Account receivable associate vs finance clerk salary

Account receivable associates and finance clerks have different pay scales, as shown below.

Account Receivable AssociateFinance Clerk
Average salary$43,252$39,225
Salary rangeBetween $29,000 And $63,000Between $27,000 And $56,000
Highest paying CityWallingford, CTNew York, NY
Highest paying stateConnecticutNew York
Best paying companyAlvarez & MarsalUnited States Courts
Best paying industryTechnologyGovernment

Differences between account receivable associate and finance clerk education

There are a few differences between an account receivable associate and a finance clerk in terms of educational background:

Account Receivable AssociateFinance Clerk
Most common degreeBachelor's Degree, 55%Bachelor's Degree, 44%
Most common majorBusinessBusiness
Most common college-University of Pennsylvania

Account receivable associate vs finance clerk demographics

Here are the differences between account receivable associates' and finance clerks' demographics:

Account Receivable AssociateFinance Clerk
Average age4651
Gender ratioMale, 23.5% Female, 76.5%Male, 26.2% Female, 73.8%
Race ratioBlack or African American, 14.3% Unknown, 4.0% Hispanic or Latino, 18.3% Asian, 3.5% White, 59.4% American Indian and Alaska Native, 0.5%Black or African American, 6.9% Unknown, 4.0% Hispanic or Latino, 14.7% Asian, 6.6% White, 67.2% American Indian and Alaska Native, 0.6%
LGBT Percentage8%7%

Differences between account receivable associate and finance clerk duties and responsibilities

Account receivable associate example responsibilities.

  • Manage daily credit card reconciliations and personally deliver regular cash deposits in a safe and professional manner.
  • Manage profitable accounts receivable ledgers for existing and new clientele maintaining accuracy of monies enter to appropriate relate account.
  • Participate in month end close process by ensuring all assign journal entries and account reconciliations are perform timely and accurately.
  • Receive payments by credit card, ACH (automate clearing house) and electronic bank deposits.
  • Create and process ACH draft files, credit cards and manual deposits for multiple bank accounts.
  • Print and export daily EDI orders, match documents by PO number and forward to shipping department for processing.
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Finance clerk example responsibilities.

  • Manage resident's private information for insurance verification, billing, and eligibility to apply for Medicaid.
  • Collaborate with insurance company representatives, case managers and physicians to obtain treatment authorization for potential kidney and kidney/pancreas transplant patients.
  • Write checks in the QuickBooks software to vendors and to reimburse employees.
  • Establish customer files in QuickBooks, write and test work instructions for clients, log and close complete files.
  • Produce PowerPoint presentations in order to brief the command team of the on goings within the company.
  • Used an automate information system (PeopleSoft) to edit, modify, and verify customers personal and payment information.
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Account receivable associate vs finance clerk skills

Common account receivable associate skills
  • Customer Service, 19%
  • Data Entry, 8%
  • Patients, 8%
  • Good Judgment, 5%
  • Credit Card Payments, 4%
  • Cash Application, 4%
Common finance clerk skills
  • Data Entry, 16%
  • Purchase Orders, 9%
  • HR, 5%
  • Bank Statements, 5%
  • Bank Deposits, 5%
  • Credit Card, 4%

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