AR managers bring in revenue.
The accounts receivable (AR) manager manages the process of collecting money owed by entities to their employer. He must manage the AR staff and ensure that the work being performed is correct and in compliance with company standards. The AR manager must ensure that proper action is taken when debtors are not paying. He manages the AR turnover and collection cycles. The AR manager also assists in setting the collection policies. The AR manager brings money into the company's accounts, allowing the company to continue operating.
Department Oversight
The first duty of an accounts receivable manager is to oversee the operation of the accounts receivable department. She is responsible for the AR employees and their work. She handles employee mentoring, training and scheduling. She assists in department conflicts, employee issues and employee discipline. The AR manager must also educate vendors and third-party billing companies about the organization's policies, procedures and payment cycles.
Productivity Management
The AR manager is responsible for monitoring the receivables turnover ratio. This ratio tells a company how often, on average, it takes to clear the receivables ledger or collect what is due. The better the ratio, the better the manager is managing this process. This includes reviewing the work of clerks and assistants to ensure accuracy and timely delivery of bills and invoices to the company's customers. Timely and accurate billing will ensure faster receipt of payment. The AR manager monitors the billing system and collection data. If a customer is falling behind in paying, the AR manager is responsible for either contacting that customer or delegating that work in a timely manner.
Department Reporting
The AR manager is responsible for reporting and ad-hoc reporting in relation to collection activities. She is responsible for turning her results into the controller or accounting manager to be included in the monthly, quarterly and annual finance meetings. Cash flows are important to the daily operations of any business and the AR manager is front and center in ensuring cash flow is adequate.
Collection Efforts
The AR manager must ensure that collection efforts are undertaken to collect from the customers who are behind. The manager must make certain that all applicable laws and collection policies are followed. He must assist in establishing a strict compliance policy surrounding the collection activities. There are many laws and regulations dealing with collections. The manager must make and maintain relationships with third-party collection services when his efforts fail to produce results.
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