How to Hire an Accounts Receivable Specialist

Why hire an accounts receivable specialist?

The need for an accounts receivable specialist can affect both your existing team and your bottom line. A great accounts receivable specialist can help your business:

• Ensure clients pay on time
• Provide accurate accounts receivable reports
• Resolve customer disputes regarding their payments

Deciding between a full-time vs freelance accounts receivable specialist

Accounts receivable specialists are available to work in both full-time and freelance capacities. Small start-up companies may consider hiring a freelance accounts receivable specialist to manage their accounts receivable until the company is big enough to justify a full-time hire. Established companies may also look into hiring freelancers if their current staff is unable to keep up with a temporary increase in work. 

When businesses grow to a certain point, they should begin to consider making full-time hires in their accounting department. This can save the company money overall due to lower hourly costs.

What are the ranks of accounts receivable specialists?

Accounts receivable specialists work in the accounting industry. In the field, there’s a well-defined hierarchy of positions, including:

• Chief financial officer: At the top of the chain, the chief financial officer is responsible for making large-scale financial decisions for the company. CFOs often report directly to the CEO.
• Financial controller: A financial controller is a supervisory position that focuses more on day-to-day matters than the CFO. Controllers are responsible for preparing budgets, overseeing reports and managing payroll.
• Accountant: Accountants have a variety of financial responsibilities in a business, including recording financial transactions made by the company, preparing daily cash flow reports and auditing specific accounts.
• Accounts receivable specialist: Accounts receivable specialists have duties that are typically specific to the company’s accounts receivable. The specialist may reconcile accounts, invoice clients and make deposits.
• Junior accountant: A junior accountant is an entry-level employee who assists accountants with their daily activities. They may be responsible for bookkeeping, preparing reports and analyzing spending.  

Where to find accounts receivable specialists

To find the right accounts receivable specialist for your business, consider trying out a few different recruiting strategies:

• Promote or hire from within. Examine the performance of your junior accountants. Some of them may be ready to move up to the position of accounts receivable specialist. Conduct interviews with promising individuals to determine if they’re interested in the position and if they’re a good fit. 
• Post help wanted signs. Hanging up flyers about the position is a classic and often effective way to advertise the position and encourage people to apply. 
• Network. Ask members of the accounting industry for suggestions. They may be able to point you in the direction of potential candidates. 
• Post your job online. Try posting your accounts receivable specialist job on Indeed to find and attract quality accounts receivable specialist candidates.

What are the ranks of accounts receivable specialists?

Accounts receivable specialists work in the accounting industry. In the field, there’s a well-defined hierarchy of positions, including:

• Chief financial officer: At the top of the chain, the chief financial officer is responsible for making large-scale financial decisions for the company. CFOs often report directly to the CEO.
• Financial controller: A financial controller is a supervisory position that focuses more on day-to-day matters than the CFO. Controllers are responsible for preparing budgets, overseeing reports and managing payroll.
• Accountant: Accountants have a variety of financial responsibilities in a business, including recording financial transactions made by the company, preparing daily cash flow reports and auditing specific accounts.
• Accounts receivable specialist: Accounts receivable specialists have duties that are typically specific to the company’s accounts receivable. The specialist may reconcile accounts, invoice clients and make deposits.
• Junior accountant: A junior accountant is an entry-level employee who assists accountants with their daily activities. They may be responsible for bookkeeping, preparing reports and analyzing spending.  

Writing an accounts receivable specialist job description

A well-written job description is important to finding qualified accounts receivable specialist candidates. A job description for an accounts receivable specialist includes a comprehensive summary of the role, a detailed list of duties and responsibilities and the required and preferred skills for the position.

When writing your accounts receivable specialist job description, consider including some or all of the following keywords to improve the visibility of your job posting. These are the most popular search terms leading to clicks on accounts receivable specialist jobs, according to Indeed data:

• Accounting
• Accounts receivable
• Accounts receivable clerk
• Data entry
• Billing
• Bookkeeping
• Billing specialist
• Accounting clerk
• Accounts payable
• Collections

Interviewing accounts receivable specialist candidates

Strong candidates for accounts receivable specialist positions will be confident answering questions regarding:

• How they handle dealing with a difficult situation or customer/client
• How they plan and organize their work
• Specific accounting software and Excel experience

Need help coming up with interview questions? See our list of accounts receivable specialist interview questions for examples (with sample answers).