You must complete several steps in a specific order to become an accounts receivable analyst. You must have previous work experience handling cash or working at a cash register in a retail setting. You should also have some accounting experience in an accounts receivable environment, such as balancing daily incoming funds for a company’s accounting department. In general, you’ll need at least a bachelor’s degree with coursework in accounting practices, as well as experience managing others. To determine whether the accounts receivable clerks under investigation are performing up to the company’s standards, you’ll need experience analyzing various financial documents.
Understanding the proper handling of incoming revenue in some capacity is the most fundamental aspect of becoming an accounts receivable analyst. This could be as simple as working a cash register in a store or performing basic bookkeeping for a business in any capacity. In general, this basic experience will give you a thorough understanding of how a business acquires capital. The ability to balance a simple cash register translates better to the process of an accounts receivable clerk than most other entry-level jobs.
You’ll almost certainly need work experience as a company’s accounts receivable clerk. The accounts receivable clerk is in charge of balancing daily income totals from all points of entry, such as cash, checks, wire transfers, and electronic payment processing. As a clerk, you’ll be responsible for balancing and accounting for each dollar earned during the course of business. As a clerk, you must also make any daily or weekly cash or check deposits that are required.
Once you’ve worked as an accounts receivable clerk for a year or two, you can look for a job as an accounts receivable analyst. As an accounts receivable analyst, you’ll be in charge of reviewing and auditing the work of the accounts receivable clerks under your supervision on a daily, weekly, or monthly basis. As an analyst, your audits will include checking each clerk’s accuracy, locating any lost funds, evaluating the methods used the accounts receivable clerks under your supervision, and determining whether better methods are required. Usually, you can work your way up to an accounts receivable analyst position at the same company where you started as a clerk, but promotions aren’t always available.