Like the title suggests, this job is regarding the financial funds which a company is supposed to receive from its creditors. The people working in the accounts department, who are responsible for the accounting of these funds, are known as the accounts receivable clerks. They are responsible for the collection of the monetary funds.
Many companies lend money to their customers on low interest rates or they have a system where they supply the goods before and receive the payment for them later. This process of lending is convenient as there is trust involved and the paperwork is far less than that required for borrowing money from the bank. However, the record and accounts for the borrowing procedures have to be maintained. A company that is capable to lend money has its own full-fledged account department. Since, the amount of money that is given out could be high, there are separate professionals who look after such accounts. They are the accounts receivable clerks.
Maintenance of these accounts is the main duty of the clerks. They may have a separate manager to oversee them other than the usual departmental head. The accounts in these departments have to be immaculate and well maintained as the amount of money that is involved could be extremely large. Any miscalculation or mixing up of due dates could result in the serious damage of the professional relations between two companies.
The clerks have to keep a close watch on all the payments that are to be received. They should know all the due dates and the amount of interest that they have to charge. It is up to them to remind the debtors of the payments which has to be done in a careful and professional manner, probably in a letter form. They also need to calculate the correct interest rates.
These are just a few duties of an accounts receivable clerk. Read further to know more.
The accounts receivable clerks have the opportunity to become the head of the receivable department. This position comes with a number of responsibilities and a good raise in the salary.