An accounts receivable analyst is in charge of handling all aspects of billing, credit, and collections. Their role affords them the luxury of working in various organizations and industries. The analyst keeps track of payments and debts owed to the company. He resolves overdue payments or outstanding balances, and he reviews accounting and financial records to provide clients with correct billing information. Additionally, he collects, organizes, and processes credit applications, invoices, receipts, and other financial statements. Accounts receivable analysts are responsible for updating and maintaining customer accounts and improve the company's cash flow.
Most employers require a bachelor's degree in finance, accounting, business administration, or economics. Applicants must be proficient in accounting software (FreshBooks or ZOHO) and invoice creation software (QuickBooks or Xero). Core skills include multitasking, communication, attention to detail, analytical, presentation, and organization skills. These experts earn an average salary of $47,180 yearly. It ranges between $35,000 and $63,000.
There is more than meets the eye when it comes to being an accounts receivable analyst. For example, did you know that they make an average of $19.79 an hour? That's $41,170 a year!
Between 2018 and 2028, the career is expected to grow -8% and produce -19,400 job opportunities across the U.S.
There are certain skills that many accounts receivable analysts have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed listening skills, negotiating skills and speaking skills.
When it comes to the most important skills required to be an accounts receivable analyst, we found that a lot of resumes listed 14.8% of accounts receivable analysts included customer service, while 8.1% of resumes included general ledger accounts, and 6.2% of resumes included customer accounts. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the accounts receivable analyst job title. But what industry to start with? Most accounts receivable analysts actually find jobs in the manufacturing and technology industries.
If you're interested in becoming an accounts receivable analyst, one of the first things to consider is how much education you need. We've determined that 54.4% of accounts receivable analysts have a bachelor's degree. In terms of higher education levels, we found that 6.9% of accounts receivable analysts have master's degrees. Even though most accounts receivable analysts have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become an accounts receivable analyst. When we researched the most common majors for an accounts receivable analyst, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on accounts receivable analyst resumes include master's degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become an accounts receivable analyst. In fact, many accounts receivable analyst jobs require experience in a role such as accounts receivable specialist. Meanwhile, many accounts receivable analysts also have previous career experience in roles such as accounts payable clerk or customer service representative.