All organizations and companies are generating income. This income is also known as the accounts receivable being received and generated by the company. In any organization, there is always a person or a team managing and doing the accounts receivable task. The person who is managing the entire group is known as the Accounts Receivable Manager.
Employees with this position are responsible in ensuring that payment of the company invoices for the products and services, availed by customers, is made in time. However, there are more specifics tasks and responsibilities that an Accounts Receivable Manager is responsible for.
The Main Role of an Accounts Receivable Manager
An Accounts Receivable Manager is responsible for leading, managing, and motivating the employees under him or her or those who belong to the accounts receivable team. The managers in this department are responsible in completing the daily functions related to accounts receivable, to ensure a well-maintained record in the entire Finance department.
It is part of the Accounts Receivable Manager Job Description to work personally among the Finance team. This helps ensure that consistency and following of the established practices are being maintained within the department. It is to ensure that the performance within the Finance department is being improved, in relation to compliance with the business and accounting practices.
•Keeping an efficient workflow and performance within the Accounts Receivable team. There must be efficiency in performance so that the organization’s objectives and goals will be met and to ensure that only excellent service is delivered.
•Provide direction and leadership to his or her team to ensure that delivery of quality performance is achieved. This responsibility entails being a role model to the team and acting as a motivated and positive coach.
•Taking full responsibility of the team’s performance management to make sure that deadlines are maintained and achieved all the time. It entails managing issues accordingly, based on the policies and procedures of the company.
•Ensuring that a continuous improvement within the team and its processes is maintained so that efficient working within them is always achieved.
•Manage the personal development of the team so that performance levels can be increased and career development opportunities can be realized.
•Provide only a high-level service to ensure that the generated revenues are reconciled accurately.
•Keeping relationship among the licensing departments and other departments, ensuring that all processes are being run efficiently.
•Ensure that daily banking along with monthly reconciliations of all customer receipt accounts is accomplished.
•Ensure accuracy and completion on the team’s Balance Sheet reconciliations.
•Providing assistance to the team whenever there are lots of workloads and in times of absences within the team.
The leading and managing job of an Accounts Receivable Manager is essential in keeping the team and the overall operations of the business to run smoothly. That is why it is essential to ensure that employees know their job description very well.