The benefits brought by an Accounts receivable certification
One of the biggest challenges in today’s business world is to develop efficient and profitable customer relations by choosing and extending credit only to the most worthy of them. Achieving this goal is the ultimate purpose of a very important professional within the organisation: the accounts receivable manager. As suggested by the name, an accounts receivable specialist is responsible for collecting all the money owed to the company by its clients, in exchange for the sell of goods and services on credit. You should know that a particular sale turns into an account receivable after an invoice is delivered to the customer. Consequently, he turns into a debtor and has the obligation to pay its debts within the expected timeframe. These are the basic concepts you need to know if you want to pursue a career in this field. We will discuss further the insights of a job in accounts receivable, the skills you must have and the importance of getting certified for your career advancement.
To begin with, you should know that the accounts receivable is treated as an asset and appears in the balance sheet as such. If the money are due for payment within one year, we are dealing with a current asset. Each organisation should have an accounts receivable department in charge of collecting debts. While the department’s collection team seeks the debtors, cashiers are in charge of recording the received money. Companies can use their accounts receivable as a pledge to request a loan or sell them at a discount through factoring, thus transferring the duty to cash the debts to the factor. This is a good method of protection against bad customers who may not pay the money in the due time.
As we have already seen, the most common function of the Accounts Receivable is to bill customers for the goods and services provided by the company. Therefore, the billing process is one of the topics you need to cover for becoming a professional in this field. Furthermore, you will need to be up-to-date with the process of approving credit, of collecting money, handling deductions and have a good knowledge on legal considerations related to it. Also, taking into account that your role would be closely related to the entire customer service of the company, you should have in-depth knowledge on this matter as well.
In short terms, a specialist in this field must generate invoices, keep accounting reports, process payments when they arrive and update the customers’ accounts correspondingly. In case an account becomes overdue, the accounts receivable specialist will need to contact the customer and collect payment. It is for such bad debtors that the company needs to have a general provision. Moreover, such a specialist must coordinate his work with other departments’ accountants to provide the company with useful informations.
For instance, he must work closely with the Accounts Payable, because the company is also expected to pay debts to its vendors within a due time. The Accounts Receivable specialist will provide the Accounts Payable specialist informations on the time availability and the amount of usable income, thus helping the latter to schedule and make payments in the name of the company.
Accounts Receivable Certification Test
It cannot be argued that Accounts Receivable management is a very demanding job, but this should not intimidate you. However, it is true that you will be asked to make decisions that can affect the company in both ways, this is why you need to know what you are doing if you want to be successful in this job. There are numerous reasons why accounts receivable workers should try to achieve certification, but the most important is the fact that nowadays certification has become an essential condition for career advancement. Having the accreditation conveys an essential message both to your prospective and your current management (if you are already employed): you are commited to knowledge and excellence in your career.
If you want to demonstrate you have the competency and the skills required to excel in today’s finance and accounting environment you should bolster your resume with an Accounts Receivable certification. An online certification will enhance your appreciation at the workplace and testify you have the required knowledge to pass a quality accounts receivable test. You should choose Brainmeasures.com as your trustable provider of the accounts receivable exam standing in the way of your becoming an accredited receivables specialist or even manager. So you should not hesitate and visit the site for getting this valuable certification for your career advancement.
Sample Hard Copy Certificate
Accounts Receivable Certification
Other Related Tests and Certifications
- Accounts Receivable Ratios
- Entering Receivables
- Fundamentals of Accounts Receivable
- Maintaining Receivables Ledgers
- Preparing Credit and Collections
- Recording and Accounting for Revenue
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