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Account receivable associate hiring summary. Here are some key points about hiring account receivable associates in the United States:
Here's a step-by-step account receivable associate hiring guide:
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.
Before you start hiring an account receivable associate, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.
Hiring the perfect account receivable associate also involves considering the ideal background you'd like them to have. Depending on what industry or field they have experience in, they'll bring different skills to the job. It's also important to consider what levels of seniority and education the job requires and what kind of salary such a candidate would likely demand.
This list shows salaries for various types of account receivable associates.
| Type of Account Receivable Associate | Description | Hourly rate |
|---|---|---|
| Account Receivable Associate | Bill and account collectors, sometimes called collectors, try to recover payment on overdue bills. They negotiate repayment plans with debtors and help them find solutions to make paying their overdue bills easier. | $13-30 |
| Billing Analyst | A billing analyst is responsible for supporting the operations of an accounting department, evaluating and issuing invoices, and analyzing the financial transactions of the company. Billing analysts assist with creating financial statements and reports, managing billing discrepancies, updating recent account statements on the company's database, and checking the accuracy of balance sheets... Show more | $16-35 |
| Finance Clerk | 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... Show more | $12-26 |
Including a salary range in the account receivable associate job description is a good way to get more applicants. An account receivable associate salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.
For example, the average salary for an account receivable associate in Alabama may be lower than in Connecticut, and an entry-level engineer typically earns less than a senior-level account receivable associate. Additionally, an account receivable associate with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Connecticut | $81,548 | $39 |
| 2 | District of Columbia | $71,926 | $35 |
| 3 | New York | $65,653 | $32 |
| 4 | Massachusetts | $63,898 | $31 |
| 5 | New Jersey | $61,904 | $30 |
| 6 | Maryland | $59,429 | $29 |
| 7 | Rhode Island | $59,392 | $29 |
| 8 | Virginia | $59,243 | $28 |
| 9 | California | $51,085 | $25 |
| 10 | Illinois | $50,919 | $24 |
| 11 | Michigan | $47,163 | $23 |
| 12 | Ohio | $45,292 | $22 |
| 13 | Arizona | $43,311 | $21 |
| 14 | Washington | $41,282 | $20 |
| 15 | Georgia | $40,142 | $19 |
| 16 | Texas | $39,839 | $19 |
| 17 | Florida | $39,224 | $19 |
| 18 | South Carolina | $39,072 | $19 |
| 19 | Colorado | $38,977 | $19 |
| 20 | New Mexico | $38,374 | $18 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Alvarez & Marsal | $101,236 | $48.67 | |
| 2 | Sherpa | $85,030 | $40.88 | 6 |
| 3 | Macerich | $74,727 | $35.93 | |
| 4 | Patterson-UTI Energy | $69,024 | $33.18 | 2 |
| 5 | Global Indemnity Group | $57,165 | $27.48 | |
| 6 | SmithBucklin | $57,125 | $27.46 | |
| 7 | Hyundai Motor Manufacturing Alabama | $55,014 | $26.45 | 1 |
| 8 | Kaiser Aluminum | $51,460 | $24.74 | |
| 9 | SCC Soft Computer | $51,408 | $24.72 | |
| 10 | Altec | $51,101 | $24.57 | |
| 11 | University of Rochester | $48,651 | $23.39 | 2 |
| 12 | Hanley | $46,949 | $22.57 | |
| 13 | State of Connecticut | $46,771 | $22.49 | 2 |
| 14 | Merritt | $46,668 | $22.44 | |
| 15 | Access Intelligence | $45,762 | $22.00 | |
| 16 | Lockton Companies | $45,743 | $21.99 | 15 |
| 17 | Titan America | $45,425 | $21.84 | 1 |
| 18 | Wsp USA Buildings Inc. | $43,324 | $20.83 | |
| 19 | athenahealth | $43,322 | $20.83 | |
| 20 | Steve Madden | $43,283 | $20.81 | 1 |
A good account receivable associate job description should include a few things:
Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of an account receivable associate job description:
There are various strategies that you can use to find the right account receivable associate for your business:
Recruiting account receivable associates requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.
Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've found the account receivable associate candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.
It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.
To prepare for the new employee's start date, you can create an onboarding schedule and complete any necessary paperwork, such as employee action forms and onboarding documents like I-9 forms, benefits enrollment, and federal and state tax forms. Human Resources should also ensure that a new employee file is created.
Before you start to hire account receivable associates, it pays to consider both the one-off costs like recruitment, job promotion, and onboarding, as well as the ongoing costs of an employee's salary and benefits. While most companies that hire account receivable associates pay close attention to the initial cost of hiring, ongoing costs are much more significant in the long run.
The median annual salary for account receivable associates is $43,252 in the US. However, the cost of account receivable associate hiring can vary a lot depending on location. Additionally, hiring an account receivable associate for contract work or on a per-project basis typically costs between $13 and $30 an hour.