Depending on their level of expertise and the cost of living in their area, an AR manager can make a respectable living. Accounts receivable managers can earn a decent salary if they meet the necessary qualifications and demonstrate a dedication to accuracy in their work.
With experience and training, an Accounts Receivable Manager can expect to earn between $60,000 and $90,000 per year.
The exact sum may change, however, based on factors like the industry and the location of the business. With the right mindset, accounts receivable managers can earn a lucrative salary and enjoy a satisfying profession.
Receivable Manager Salary in USA
As of November 23, 2022, the average Accounts Receivable Manager salary in the United States is $93,305 per annum; however, it often ranges from $80,725 to $108,048.
Salary ranges can be quite different, depending on things like education, certifications, other skills, and how long you’ve been working in your field.
Responsibility Of Account Receivable Manager
The accounts receivable function is completely under the supervision of the accounts receivable manager to manage collection activities, including referring accounts to collection companies, negotiating with past-due accounts, tracking cash receipts, and sending follow-up queries.
An accounts receivable manager’s only job is to make sure that the accounts receivable records are correct and to confirm the balances of accounts that haven’t been paid. They also deliver financial reports that relate to the accounts payable function and account status.
The manager of accounts receivable checks the methods and procedures used by the function to improve its efficiency.
The Accounts Receivable Manager also supervises staff members that work under them daily. The superior manager ensures the achievement of project or department milestones and goals and adherence to agreed-upon spending limits.
Having complete control over personnel decisions and extensive knowledge of departmental procedures. An Accounts Receivable Manager typically needs five years of related experience as an individual contributor.
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- Cost Associated With Receivables Management
- How to Efficiently Manage Your Business Accounts Receivables
- Role of Artificial Intelligence in Receivables Management
Overall, the position of accounts receivable manager is essential to an organization’s financial success.
They are accountable for the timely and accurate management of the organization’s accounts receivable and should be compensated accordingly.
The salary of an accounts receivable manager varies depending on the organization, the size of the team, and the level of responsibility.
Still, this is a critical and rewarding job for those who are organized, detail-oriented, and have a passion for assisting businesses in their success.