Accounts Receivable Analyst

Accounts receivable analysts are responsible for monitoring all aspects of the collection of outstanding debts owed to the company. They maintain records on account activity, as well as review current accounts for unpaid amounts and determine what course of action to take based on a variety of factors such as age, amount of debt, and the customer’s history. They may interact with customers directly resolving outstanding debt or billing issues, including in evaluating the likelihood of (or a timeline for) repayment. Accounts receivable analysts also communicate frequently with management to update them on cash flow issues; cash flow is a key aspect of business management, and accounts receivable analysts are responsible for the ground level of the process to maintain incoming money.

Accounts receivable analysts work in an office environment during regular business hours. A typical day includes working on a series of account issues at all stages of the collections process. They contact customers to evaluate what action needs to be taken on their account; meet with managers and other departments to give updates on current financial status; and collect, analyze, and update customer data.

Accounts receivable analysts are generally required to have a bachelor’s degree in finance, accounting, or a related field. They must have excellent communication skills and the ability to remain pleasant during difficult conversations regarding outstanding bills or debts. Previous customer service or debt collection experience is usually required.

As an Accounts Receivable Analyst with 0-3 years of experience in Singapore, your main responsibilities include:

• Process and reconcile customer payments to ensure accurate and timely collection of outstanding invoices.
• Investigate and resolve any billing discrepancies or payment issues with customers, maintaining a high level of professionalism and customer service.
• Prepare and distribute regular reports on accounts receivable status to internal stakeholders, providing insights on cash flow and aging of receivables.
• Collaborate with cross-functional teams, such as sales and finance, to streamline billing processes and improve overall efficiency in accounts receivable management.

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

• Proficient knowledge of accounting principles and practices to accurately process and reconcile financial transactions, including invoicing, credit memos, and payment applications.
• Strong attention to detail and problem-solving abilities to identify discrepancies, resolve billing issues, and ensure accurate and timely collection of outstanding balances.
• Excellent interpersonal and communication skills to interact with customers, address inquiries or disputes, and maintain positive relationships to facilitate prompt payment.
• Proficiency in using accounting software and advanced Excel skills to generate reports, analyze data, and provide insights on accounts receivable performance.

For an Accounts Receivable Analyst job role with 0-3 years of experience in Singapore's finance industry, several alternative roles can be considered. Here are following options to explore:

• Billing Specialist: A role that focuses on invoicing, managing customer accounts, and resolving billing-related issues.
• Credit Analyst: A position responsible for assessing and analyzing creditworthiness, determining credit limits, and managing collections.
• Financial Operations Associate: A role that involves managing day-to-day financial transactions, reconciling accounts, and supporting financial reporting activities.
• Revenue Assurance Analyst: A position focused on ensuring accurate revenue recognition, identifying revenue leakages, and implementing controls to mitigate risks.

The role of an Accounts Receivable Analyst in Singapore shows promising growth in the market. Over the past 10 years, the job role has seen a steady increase in demand, with a positive trend projected for the future. According to recent data from Google, there is a significant rise in employment opportunities for Accounts Receivable Analysts, indicating a favorable job market outlook. The growing importance of financial management and increasing complexity in managing accounts receivable are driving the need for skilled professionals in this field. Overall, the future looks bright for individuals aspiring to pursue a career as an Accounts Receivable Analyst in Singapore.