What does a senior accounts receivable specialist do?
Senior accounts receivable specialists follow established accounts receivable and account payable policies, guidelines, control processes, and procedures. The specialists make sure that activities associated with the payables and receivables are accurate. They assist the partners of firms in terms of collecting and reporting accounts receivable balances that are already past due. It is their job to establish extensive contact with clients and partners. Also, they are responsible for tracking payments and perform banking deposits.
Senior accounts receivable specialist responsibilities
Here are examples of responsibilities from real senior accounts receivable specialist resumes:
- Manage profitable accounts receivable ledgers for existing and new clientele maintaining accuracy of monies enter to appropriate relate account.
- Enter credit/debit memo, set up and process franchisees ACH.
- Create and set up new financial institute bank accounts for ACH services.
- Review submission of all charges and payments to include proper medical data and the appropriate CPT and ICD-9 codes.
- Collect money owe to Texas Medicaid by medical providers.
- Correspond with various commercial and federal insurance companies including Medicare and Medicaid.
- Manage profitable accounts receivable ledgers for existing and new clientele maintaining accuracy of monies enter to appropriate relate account.
- Create process to reconcile gift card/credit card reconciliation after conversion to PeopleSoft including bringing reconciliation current.
Senior accounts receivable specialist skills and personality traits
We calculated that 6% of Senior Accounts Receivable Specialists are proficient in Account Reconciliations, Customer Accounts, and Reconciliations. They’re also known for soft skills such as Listening skills, Negotiating skills, and Speaking skills.
We break down the percentage of Senior Accounts Receivable Specialists that have these skills listed on their resume here:
- Account Reconciliations, 6%
Assist general ledger and accounting department with bank account reconciliations.
- Customer Accounts, 6%
Identify and request adjustments to customer accounts as necessary while following departmental procedure and state workman's compensation guidelines.
- Reconciliations, 5%
Cleared discrepancies of various bank reconciliations and refund account
- Customer Service, 4%
Exemplified the second-to-none customer service delivery for which Alexander Gallo Holdings is nationally renowned in all interactions with consumers.
- Patient Accounts, 4%
Review IN/OUT patient accounts to determine level of follow-up activity necessary.
- Credit Card Payments, 4%
Coordinated cash applications and processed credit card payments.
Common skills that a senior accounts receivable specialist uses to do their job include "account reconciliations," "customer accounts," and "reconciliations." You can find details on the most important senior accounts receivable specialist responsibilities below.
Listening skills. The most essential soft skill for a senior accounts receivable specialist to carry out their responsibilities is listening skills. This skill is important for the role because "collectors must pay attention to what debtors say when trying to negotiate a repayment plan." Additionally, a senior accounts receivable specialist resume shows how their duties depend on listening skills: "communicated with patients on past due accounts to arrange payment plans or forward their accounts to outside collections. "
Negotiating skills. Another essential skill to perform senior accounts receivable specialist duties is negotiating skills. Senior accounts receivable specialists responsibilities require that "the main aspects of a collector’s job are reconciling the differences between two parties (the debtor and the creditor) and offering a solution that is acceptable to both parties." Senior accounts receivable specialists also use negotiating skills in their role according to a real resume snippet: "reduce the daily sales outstanding (dso) by negotiating payment arrangements and resolving accounts prior to 120 days. "
Speaking skills. This is an important skill for senior accounts receivable specialists to perform their duties. For an example of how senior accounts receivable specialist responsibilities depend on this skill, consider that "collectors must be able to speak to debtors to explain their options and ensure that they fully understand what is being said." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a senior accounts receivable specialist: "determine what accounts need to be addressed by reviewing the account's payment history, credit information and outstanding balance. ".
The three companies that hire the most senior accounts receivable specialists are:
- Frost-Arnett
8 senior accounts receivable specialists jobs
- XPO Logistics
6 senior accounts receivable specialists jobs
- Legrand3 senior accounts receivable specialists jobs
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Compare different senior accounts receivable specialists
Senior accounts receivable specialist vs. Collector
Collectors are responsible for monitoring and providing immediate actions for client accounts with overdue payments. Collectors must be able to contact clients through phone or e-mail. A collector's duty also includes negotiating on payment procedures and offering repayment plans and alternative payment solutions to free the debt. Collectors need to document any agreements made to the client, updating and verifying contact information, resolving account discrepancies and client complaints, and report escalated concerns to the management.
While similarities exist, there are also some differences between senior accounts receivable specialists and collector. For instance, senior accounts receivable specialist responsibilities require skills such as "account reconciliations," "reconciliations," "identify issues," and "edi." Whereas a collector is skilled in "patients," "payment arrangements," "excellent interpersonal," and "student loans." This is part of what separates the two careers.
Collectors really shine in the finance industry with an average salary of $35,207. Comparatively, senior accounts receivable specialists tend to make the most money in the technology industry with an average salary of $61,717.The education levels that collectors earn slightly differ from senior accounts receivable specialists. In particular, collectors are 3.2% less likely to graduate with a Master's Degree than a senior accounts receivable specialist. Additionally, they're 0.3% more likely to earn a Doctoral Degree.Senior accounts receivable specialist vs. Collections coordinator
Usually working alongside a company's account receivables team, a collections coordinator is in charge of developing strategies to optimize the payment collection operations. Among their responsibilities include reaching out to clients through calls or correspondence to remind them of their payment obligations, arranging appointments, processing payments, arranging payment terms, and researching a client's communication information such as cellphone number, address, or email. Moreover, a collections coordinator must maintain an active communication line with staff while promoting and enforcing the company's policies and regulations.
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that senior accounts receivable specialist responsibilities requires skills like "account reconciliations," "identify issues," "credit memos," and "financial reports." But a collections coordinator might use other skills in their typical duties, such as, "patients," "phone calls," "account balances," and "data entry."
Collections coordinators earn a lower average salary than senior accounts receivable specialists. But collections coordinators earn the highest pay in the professional industry, with an average salary of $39,558. Additionally, senior accounts receivable specialists earn the highest salaries in the technology with average pay of $61,717 annually.collections coordinators earn similar levels of education than senior accounts receivable specialists in general. They're 0.2% less likely to graduate with a Master's Degree and 0.3% more likely to earn a Doctoral Degree.Senior accounts receivable specialist vs. Collection analyst
Collections analysts assess the riskiness of a company or person in credit extension and repayment collection. The analysts manage data processing contract procurement negotiation. They help in the quarterly and yearly external and internal audits. It is part of their job to collect the first payment default and make sure that portfolios are inappropriate performance. They also act on collection calls for the area of responsibility assigned to them.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from senior accounts receivable specialist resumes include skills like "account reconciliations," "identify issues," "medical billing," and "general ledger," whereas a collection analyst is more likely to list skills in "portfolio," "patients," "strong problem-solving," and "collection issues. "
Collection analysts earn the best pay in the technology industry, where they command an average salary of $51,647. Senior accounts receivable specialists earn the highest pay from the technology industry, with an average salary of $61,717.collection analysts typically earn similar educational levels compared to senior accounts receivable specialists. Specifically, they're 1.1% more likely to graduate with a Master's Degree, and 0.2% more likely to earn a Doctoral Degree.Senior accounts receivable specialist vs. Specialist
Specialists are employees who are responsible for specific tasks or activities in the department they are assigned to. The actions or tasks they work on are related to their educational background or work experiences. They are usually highly skilled in specializations related to the work they are assigned to. Specialists are also highly trained on the competencies that are required of their specialty. As such, they are focused on the skills and competencies that are needed to enhance their experience in their specific field further.
Types of senior accounts receivable specialist
Updated January 8, 2025
