What Is an AR Manager Job?
An AR Manager is responsible for managing a company's accounts receivable. It is their duty to ensure that the company receives payment for the goods or services it has provided. They work closely with other departments such as finance, sales, and customer service to ensure that records are accurate, and payments are made on time. The AR Manager is an essential component of any business as they play a critical role in maintaining cash flow and ensuring the company's financial stability.
What Usually Do in This Position?
The day-to-day responsibilities of an AR Manager vary depending on the company and industry they work in. However, there are a few core responsibilities that are common across most positions. These responsibilities include:
- Managing and maintaining accurate records of accounts receivable
- Developing and implementing strategies to improve the company's cash flow
- Analyzing and forecasting cash flow and revenue
- Coordinating with other departments to resolve any issues related to accounts receivable
- Developing and maintaining relationships with customers to ensure timely payments
Top 5 Skills for the Position
To excel in the role of an AR Manager, there are several critical skills that one must possess. These include:
- Strong communication skills, both written and verbal
- Excellent organizational and time management skills
- Proficiency in accounting software and Microsoft Excel
- Attention to detail and accuracy
- A strong understanding of financial principles and practices
How to Become This Type of Specialist
To become an AR Manager, one typically needs a bachelor's degree in finance, accounting, or a related field. However, some companies may accept candidates with a high school diploma or associate's degree if they have relevant work experience. In addition to formal education, it is essential to gain experience in accounts receivable and finance. One can gain experience through internships, entry-level positions, or on-the-job training. Professional certifications such as the Certified Credit Executive (CCE) or the Certified Receivables Specialist (CRS) can also enhance one's job prospects.
Average Salary
The average salary for an AR Manager in the United States is $70,000 per year. However, this can vary depending on factors such as experience, location, and industry. Entry-level positions typically pay around $45,000 per year, while experienced professionals can earn up to $100,000 or more.
Roles and Types
AR Managers can work in a variety of industries, including healthcare, finance, and retail. Some common job titles in this field include Accounts Receivable Manager, Credit and Collections Manager, and Billing Supervisor. Within these roles, there may be additional responsibilities such as managing credit risk, overseeing collections, or managing billing operations.
Locations with the Most Popular Jobs in the USA
The demand for AR Managers is relatively consistent across the United States. However, some locations have a higher concentration of jobs in this field than others. Some of the most popular locations for AR Manager jobs in the USA include:
- New York, NY
- Los Angeles, CA
- Chicago, IL
- Houston, TX
- Atlanta, GA
What Are the Typical Tools
To perform their job duties effectively, AR Managers typically use a variety of tools and software. Some of the most common tools used in this field include:
- Accounting software such as QuickBooks or Sage
- Microsoft Excel for data analysis and reporting
- Customer Relationship Management (CRM) software
- Electronic payment processing tools such as PayPal or Stripe
- Communication tools such as email and phone
In Conclusion
An AR Manager plays a vital role in maintaining a company's financial stability. They are responsible for managing accounts receivable, ensuring timely payments, and developing strategies to improve cash flow. To excel in this field, one must possess excellent communication skills, organizational skills, and a strong understanding of financial principles. With the right education, experience, and certifications, an AR Manager can enjoy a fulfilling and lucrative career in finance.