Accounts Receivable Manager

Accounts receivable (AR) managers are responsible for overseeing the part of a company that deals with money owed to the business. AR managers must manage and coordinate billing and credit related activities such as sending invoices, determining customer credit worthiness and the amount of credit to be extended, attempting to collect on unpaid debts, updating billing records and handling most billing disputes. Some employers may also require that they be responsible for handling commissions and reporting sales tax as well. AR managers usually oversee a team, which may consist of accountants, collectors, analysts, clerks and/or credit professionals. This often varies based on the size of the company. For example, an AR manager at a small company may just oversee a few AR clerks, while a manager at a larger company may oversee a team of ten or more specialists. Regardless of the company’s size and amount of staff, AR managers are usually responsible for hiring, training and evaluating the AR staff.

An accounts receivable manager usually works a standard 40 hour work week and spends their time working in an office setting. Because this type of position is a supervisory position, most companies prefer at least an associate’s degree in accounting, business administration, bookkeeping or a related field. Companies usually also require at least five years of experience in an AR department and require applicants to have demonstrated some leadership experience.

As an Accounts Receivable Manager with 3-6 years of experience in Singapore, your main responsibilities include:

• Reviewing and maintaining accurate and timely customer accounts, including recording payments and resolving billing discrepancies. This involves ensuring compliance with company policies, procedures, and regulatory requirements.
• Monitoring and reporting on accounts receivable metrics, such as DSO days sales outstanding and aging reports, to improve cash flow and reduce delinquencies. You may also need to initiate collections activities and negotiate payment terms with customers.
• Collaborating with cross-functional teams, such as Sales, Finance, and Customer Service, to resolve issues related to order fulfillment, invoicing, and credit approvals. This requires effective communication and problem-solving skills.
• Leveraging technology tools, such as accounting software and CRM systems, to automate routine tasks and streamline processes, while also ensuring data accuracy and integrity.

For an Accounts Receivable Manager job role, the following qualifications are required:

• In-depth knowledge of accounts receivable principles and practices, including billing, collections, and cash applications, to effectively manage the company's receivables portfolio.
• Strong analytical skills to analyze customer payment trends, identify potential issues or discrepancies, and implement strategies to improve collection efforts and reduce outstanding balances.
• Excellent communication and interpersonal skills to liaise with clients, resolve payment disputes, and maintain positive relationships, ensuring timely resolution and customer satisfaction.
• Leadership abilities to oversee the accounts receivable team, providing guidance, motivation, and support, while fostering a collaborative and efficient work environment.

The role of an Accounts Receivable Manager is crucial in ensuring efficient financial operations. For individuals with 3-6 years of experience in Singapore, here are following alternative roles worth considering:

• Senior Accountant: This role entails broader responsibilities, such as financial reporting and regulatory compliance.
• Treasury Manager: With a focus on managing cash and liquidity requirements, this position involves forecasting, risk management, and investment activities.
• Procurement Manager: Managing supplier relationships, negotiating contracts, and overseeing purchasing processes are key responsibilities in this role.
• Financial Analyst: This position focuses on monitoring financial performance, developing forecasts, and providing insights for strategic decision-making.

The role of Accounts Receivable Manager in Singapore is expected to witness steady growth in the market. A 10-year analysis indicates a consistent demand for professionals in this position. With expanding businesses and increasing financial transactions, the need for Accounts Receivable Managers is projected to rise further. According to latest data points available on Google, the Singapore job market is anticipated to offer ample employment opportunities for this role in the coming years. Prospective job seekers can expect a positive outlook in terms of job availability and career growth in the field of Accounts Receivable Management in Singapore.