Loan clerk vs accounts receivable clerk

The differences between loan clerks and accounts receivable clerks can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a loan clerk, becoming an accounts receivable clerk takes usually requires 4-6 years. Additionally, an accounts receivable clerk has an average salary of $36,425, which is higher than the $26,552 average annual salary of a loan clerk.

The top three skills for a loan clerk include customer service, loan payments and financial data. The most important skills for an accounts receivable clerk are customer service, data entry, and collection calls.

Loan clerk vs accounts receivable clerk overview

	Loan Clerk	Accounts Receivable Clerk
Yearly salary	$26,552	$36,425
Hourly rate	$12.77	$17.51
Growth rate	-3%	-5%
Number of jobs	75,101	87,935
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 36%
Average age	42	51
Years of experience	4	6

Loan clerk vs accounts receivable clerk salary

Loan clerks and accounts receivable clerks have different pay scales, as shown below.

	Loan Clerk	Accounts Receivable Clerk
Average salary	$26,552	$36,425
Salary range	Between $19,000 And $35,000	Between $29,000 And $45,000
Highest paying City	Newark, NJ	Boston, MA
Highest paying state	California	Massachusetts
Best paying company	UFCU	IBM
Best paying industry	Finance	Finance

Differences between loan clerk and accounts receivable clerk education

There are a few differences between a loan clerk and an accounts receivable clerk in terms of educational background:

	Loan Clerk	Accounts Receivable Clerk
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 36%
Most common major	Business	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Loan clerk vs accounts receivable clerk demographics

Here are the differences between loan clerks' and accounts receivable clerks' demographics:

	Loan Clerk	Accounts Receivable Clerk
Average age	42	51
Gender ratio	Male, 16.9% Female, 83.1%	Male, 13.7% Female, 86.3%
Race ratio	Black or African American, 12.9% Unknown, 4.7% Hispanic or Latino, 14.6% Asian, 7.0% White, 60.3% American Indian and Alaska Native, 0.5%	Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.4% Asian, 6.5% White, 67.7% American Indian and Alaska Native, 0.6%
LGBT Percentage	7%	7%

Differences between loan clerk and accounts receivable clerk duties and responsibilities

Loan clerk example responsibilities.

Manage A/R transactions, prepare weekly account reconciliation's, perform research/ adjustments on A/P and A/R discrepancy accounts.
Monitor UCC filings and updates.
Prepare SBA loans using WordPrefect.
Record UCC filings on-line and by mail.
Review loan files, facilitate and verify loss mitigation application request, determine eligibility for clients requesting foreclosure financial assistance.
Work with HUD the VA and FHA to make sure all requirements are completed.

Accounts receivable clerk example responsibilities.

Manage and monitor weekly bank deposit runs and record deposits into QuickBooks.
Manage profitable accounts receivable ledgers for existing and new clientele maintaining accuracy of monies enter to appropriate relate account.
Obtain online reports of bank transactions, including deposits, ACH, EFT and wire payments from multiple banking institutions.
Utilize QuickBooks accounting software for billing/invoices, generate statements.
Perform necessary adjustments using knowledge of Medicare and all third party insurance.
Investigate and resolve any out-of-balances including credit card discrepancies / lockbox exceptions.

Loan clerk vs accounts receivable clerk skills

Common loan clerk skills

Customer Service, 22%
Loan Payments, 12%
Financial Data, 10%
Mortgage Loans, 5%
Credit Reports, 4%
General Ledger Accounts, 3%

Common accounts receivable clerk skills

Customer Service, 12%
Data Entry, 9%
Collection Calls, 8%
Financial Data, 7%
Credit Card Payments, 5%
Process Payments, 5%

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Loan Clerk
Loan Clerk vs Accounts Receivable Clerk

Updated January 8, 2025

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