Accounts Receivable Specialist Mock Interview

Practice 30 Accounts Receivable Specialist interview questions covering collections, aging reports, and payment reconciliation.

Question 3 of 30

Why is excellent A/R execution important for a business?

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Bobbi Witt

Bobbi Witt is an HR Manager and Senior Level Finance and Accounting Consultant. Her experience includes 9 years at a Fortune 500 company where she held a wide range of financial and management accountabilities.

"Accounts receivable is important because it's the area of a business where customer debt becomes cash. Many customers will pay their debts within the normal amount of time, but calculations show that it takes a small business owner an average of 71 days to be paid."

Bobbi Witt

This is an excellent question. 'Cash is King' and that is what the A/R department hones in and must focus to collect. A/R is listed as an asset on the balance sheet, but if a customer has not paid and has been extended credit, there is always the chance it can become a liability due to nonpayment. The A/R and Collections area is responsible for collecting the cash flow for the company to pay the expenses and debt. Without the payments to pay the output, I would not have a job.

Ryan Brown

Ryan Brown created and launched MockQuestions in 2008.

The interviewer is testing your business understanding of the A/R function. There are a few reasons why organized and accurate accounts receivable execution is essential.

1. Integrity and ethics associated with maintaining exceptional business records
2. Ensuring customers are paying their bills means your business is receiving income
3. Every business needs accurate records to know where the company is at financially
4. Enables easier reporting when the A/R function is exceptional

Ryan Brown

Ryan Brown created and launched MockQuestions in 2008.

"I believe in the phrase, 'Cash is King,' and that is where an accounts receivable department comes in. A/R is an asset on the balance sheet, but if a customer has not paid and has been extended credit, there is always the chance it can become a liability due to nonpayment. The A/R and Collections departments are responsible for collecting the cash flow for the company to pay the expenses and debt."

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30Accounts Receivable Specialist Interview Questions & Answers

1.Walk me through your accounts receivable experience.

2.Have you ever had to prepare a bill or invoice for services rendered? If so what should be included?

3.Why is excellent A/R execution important for a business?

4.How do you manage your time in Accounts Receivable?

Accounts Receivable Specialist Mock Interview

Why is excellent A/R execution important for a business?

30Accounts Receivable Specialist Interview Questions & Answers

1.Walk me through your accounts receivable experience.

2.Have you ever had to prepare a bill or invoice for services rendered? If so what should be included?

3.Why is excellent A/R execution important for a business?

4.How do you manage your time in Accounts Receivable?

5.When have you had to be extra thorough in completing tasks?

6.How do you handle an insufficient funds notice after trying to process a customer payment?

7.Have you ever been in a situation where you had to bargain on an overdue invoice?

8.Do you think cash should be accepted as a form of payment?

9.Have you ever worked for a company that accepted cryptocurrency as a form of payment?

10.When a customer is unable to pay, what are steps that you have taken to retrieve the money?

11.When you see a large account starting to age, and they are a very good customer, what do you do?

12.How do you reconcile customer payments from credit card, ACH or wire, to cash or check, in the A/R system?

13.If a customer is also a vendor and not paying their invoice, do you think it is good practice to pay them with the open A/R dollar amount?

14.What information is contained in the Accounts Receivable sub-ledger?

15.What is a Customer Master Record?

16.Name for me the most important functions of an A/R department.

17.Have you encountered Factoring in your professional experience?

18.What is an Accounts Receivable Aging Report, and why do they matter?

19.What are the most common issues related to Accounts Receivable?

20.After receiving a customers' payment, what do you do next?

21.Do you have experience setting up auto-invoicing for customer accounts?

22.Give me an example of when a credit memo would be issued.

23.How much time needs to pass for an A/R account to be considered delinquent?

24.Explain to me the term DSO or, Days Outstanding.

25.As an A/R Specialist, you will be customer facing. Have you received any formal customer service training?

26.Have you ever broken company rules, or payment terms, to make a customer happy?

27.What is your current A/R Specialist salary?

28.Have you ever worked in a cross-functional environment?

29.In your opinion, what makes you a great problem solver?

30.Do you have any plans for continued education?