How to Become an Accounts Payable/Receivable Manager
Step 1: Understand the job description and responsibilities of an Accounts Payable/Receivable Manager
What does an Accounts Payable/Receivable Manager do?
AN Accounts Payable/Receivable Manager manages the accounts payable and accounts receivable functions of an organization to ensure compliance with internal controls and accounting policies. Reviews and evaluates the accounts payable and receivable registers to validate charges and ensure timely and accurate payments and receipt of payments. Being an Accounts Payable/Receivable Manager monitors account aging reports, identifies delinquent accounts, and refers accounts to collection agencies. Verifies customer credit limits and applicable payment terms. Additionally, Accounts Payable/Receivable Manager designs and implements standard policies and procedures to ensure accurate and compliant financial records. Audits methods and procedures of the accounts payable and receivable functions to improve efficiency. Requires a bachelor's degree. Typically reports to a director. The Accounts Payable/Receivable Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. To be an Accounts Payable/Receivable Manager typically requires 5 years experience in the related area as an individual contributor. 1 - 3 years supervisory experience may be required. Extensive knowledge of the function and department processes.
Financial managers are responsible for the financial health of an organization.
The role of the financial manager, particularly in business, is changing in response to technological advances that have substantially reduced the amount of time it takes to produce financial reports.
Financial managers also do tasks that are specific to their organization or industry.
For example, government financial managers must be experts on government appropriations and budgeting processes, and healthcare financial managers must know about topics in healthcare finance.
Moreover, financial managers must be knowledgeable about special tax laws and regulations that affect their industry.
Step 2: Learn best tips to become an Accounts Payable/Receivable Manager
Best tips for those who want to become an Accounts Payable/Receivable Manager
Here are some tips to become an Accounts Payable/Receivable Manager.
Charge interest on overdue payments.
Reduce CFO Impact to Verification & Signature.
Prepare for Excuses – The hardest part of the collection call is having to listen to the customer’s different excuses for not paying.
Send the invoice the day a sale (work completed) is made – Don’t delay in sending out the invoice.
Losing a job can make you feel helpless and hopeless, but it is important to remember that you are in full control.
Step 3: View best colleges and universities for Accounts Payable/Receivable Manager
Best colleges and universities for Accounts Payable/Receivable Manager
- Florida Southern College
- Colby College
- Dartmouth College
- University of Notre Dame
- Western Washington University
- Canisius College
Step 4: Think about whether is it worth to be an Accounts Payable/Receivable Manager
Is being an Accounts Payable/Receivable Manager Worth it?
Action AssociatesAccounts Payable Supervisor / ManagerWixom, MINew 24hr Michigan is growing and looking to hire an experience accountspayablemanager.
-Recommends improvements to accountspayable/receivable processes… Indianapolis, Indiana area.
The Accounts Receivable Clerk will assure all asphalt billing and contract billing is completed accurately and on time.
Minimum 7 years work experience in Accounts Receivable / Payable positions with responsibility for direct customer….
Basic Accounts Payable/Accounts Receivable knowledge and experience with data entry and computerized purchasing system.
Step 5: Prepare relevant skills for being an Accounts Payable/Receivable Manager
What skills do you need to be an Accounts Payable/Receivable Manager?
A manager is often judged based on the success of their team and those working below them, as such, many skills are needed. Success in this role depends on a critical ability in the following: Accounts Payable, Accounts Receivable, Billing, Dunning, Invoice Management, Invoice Verification, Payment Processing, GAAP Standards. Experience in the following is fundamental to this role: AP Automation Software, AR Automation Software. Skills may vary from job-to-job, but these skills are the ones most commonly associated with this role.
Let's find out what skills a Accounts Payable/Receivable Manager actually needs in order to be successful in the workplace.
Detailed-oriented with strong organizational skills to handle a variety of day to day full cycle Accounts Payable and Receivable activities.
Serve as subject matter expert for accounts payable, purchasing, purchasing card and accounts receivable functions, accounting system modules, and policies.
For example, government financial managers must be experts on government appropriations and budgeting processes, and healthcare financial managers must know about topics in healthcare finance.
Moreover, financial managers must be knowledgeable about special tax laws and regulations that affect their industry.
Step 6: View average salary for Accounts Payable/Receivable Manager
How much does an Accounts Payable/Receivable Manager make?
The average salary range for an Accounts Payable/Receivable Manager is from $94,309 to $124,460. The salary will change depending on your location, job level, experience, education, and skills.
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Average salary for Accounts Payable/Receivable Manager jobs
Step 7: Find relevant Accounts Payable/Receivable Manager jobs, and apply.
Looking for Accounts Payable/Receivable Manager jobs?
Here are some Accounts Payable/Receivable Manager jobs in the United States.