To become an accounts receivable analyst, one needs work experience handling cash, accounting experience, a bachelor’s degree, and experience analyzing financial documents. Experience as an accounts receivable clerk is also required before becoming an analyst.
To become an accounts receivable analyst, you must successfully complete several steps on a specific order. You must have work-related experience handling cash or running a cash register in a retail environment. You should also have some accounting experience in an accounts receivable environment, such as balancing funds received daily for the accounting segment of a business. Generally, you should possess at least a bachelor’s degree with courses in accounting practices and be familiar with managing others. You need experience analyzing various financial documents to determine whether the accounts receivable employees under review are meeting the standards set by the company.
The most fundamental aspect of becoming an accounts receivable analyst is understanding the proper handling of incoming revenue in some capacity. This could be as simple as working a cash register at a point of sale or performing basic business accounting in any capacity. Generally, this basic experience will provide a thorough understanding of the process by which a company acquires capital. Being able to balance a simple cash register translates better to an accounts receivable clerk’s process than any other basic job.
You will also likely need work experience as an accounts receivable clerk for a company. The Accounts Receivable Clerk is responsible for balancing daily revenue totals for all points of entry, including cash, checks, wire transfers, or electronic payment processing. As an employee, you must balance and account for every dollar earned in the course of business. As an employee, you must also make cash or check deposits, which are required on a daily or weekly basis.
Once you have a year or two of experience as an accounts receivable clerk, you might want to try to find a position to become an accounts receivable analyst. As an Accounts Receivable Analyst, you will be responsible for reviewing and auditing the daily, weekly, or monthly work of Accounts Receivable employees under your supervision. As an analyst, your audits will involve examining each employee’s accuracy, finding any and all lost money, evaluating the methods by which accounts receivable employees under your supervision operate, and to determine if improved methods are needed. You can usually work in an accounts receivable analyst position at the same company you worked for as an employee, but sometimes those promotions are simply not available.
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