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Top 30 Accounts Receivable Specialist Interview Questions

Question 1 of 32
Tell me about a situation when it was important for you to pay attention to details? How did you handle it?
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Question 2 of 32
Have you ever had to prepare a bill for services rendered or purchases, if so what should be included?
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How to Answer
This question is simply asking the interviewee to further explain their experience level in the A/R field by asking a very specific question.

The information you need to include on an invoice varies depending on the specific services you perform, but most invoices should include: contact information, company logo, customer PO# (if applicable), number of service hours, date, company address and bill to address, price per hour or price per widget, total price, description, freight (if applicable), and payment terms with due date.
Entry Level Example
"A bill should include the following: 1. Name & address of the party against which the bill is raised. 2. Invoice/bill no. 3. Date in which bill is raised. 4. Delivery note. 5. Reference to our company and reference number. 6. Type of services. 7. Charges of services,including forwarding charges. 8. CST@2% on the total amount. 9. At the very last, we should write the total amount chargeable. 10. Then a note should be given that if the amount is not paid within given time the interest will be charged in a given rate."
Experience Example
"Depending on the company and their needs and requirements, there might be some differences, but the preparation of a bill usually includes: service provider's details, description of service or purchase, organizations name and address, the bill to name and address, tax/es, date bill was prepared and due date, net terms, payment information. And if there is any Expenses or abatements incurred by the service receiver less all those things and calculate service Tax and the cess for the balance amount."
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Question 3 of 32
What experiences do you have in accounts receivable?
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How to Answer
This will be the same answer to the question: Tell me about yourself? Begin by walking through your A/R work history. Discussing where you worked, your job title, and how long you were employed there. Discuss what type of A/R work you were completing, and how many people worked on the A/R team. Follow up with how many customers you were typically working with. Be sure to mention one thing that you really enjoyed about each role. It is a great opportunity to show the interviewer your passion for A/R.
Entry Level Example
"Recently I worked for Company ABC as an Accounts Receivable Specialist. This role focuses on a specific set of customers per A/R Specialist on the team. I'm solely responsible for invoicing, applying payment, and collections. I am in a department of thirteen other A/R Specialist and my direct report is the A/R Manager. I have worked for my current employer for two and a half years and have helped to reduce aged receivables and increase customer cash flow for the accounts I'm responsible for by bringing the accounts current and receiving payments via ACH instead of checks."
Experience Example
" I have spent the last eight years as a Senior Accounts Receivable and Collections Specialist for my last company, so I feel prepared to take on additional responsibilities. I oversaw a team of 3 A/R Specialist and focused primarily on keeping A/R current and collecting from customers that were 15 days late. There were a total of four team leads and my department had the lowest DSO for over 3 years (how long I have been a team lead). This is something I'm very proud of and it shows how diligent my team is to collecting payment on a timely manner."
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Question 4 of 32
What are the components used by the accounts receivable department?
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How to Answer
The accounts receivable department is a very important department for the company. The responsibilities of the department may include: Approval of credit limit to the customer, study the past history of customer credit, sending invoices to the customer, updating of the customer credit data, factoring contacts with the factoring agents, follow up of customers motivating the customers to pay the dues on time, and communicating the information to the management.
Answer Example
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Entry Level Example
"Accounts Receivable department has a major role in the company. The responsibilities of the department is approval of customer credit limit by studying the past history of customer. The department must take full responsibility credit sending invoices, update customer statements and making sure to follow up with the customers payment. A/R Department must understand and enforce proper procedure in collecting the dues of the customer."
Experience Example
"The Accounts Receivable Departments main responsibilities are: 1. Ensuring the credit worthiness of a company to pay its debt and establishing payment terms. 2. Creating invoices 3. Follow up with customers for payment. 4. Receiving the cash and reconciling the AR and cash account. "
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Question 5 of 32
When we talk about Accounts Receivables, what does that mean?
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Question 6 of 32
Have you had to use Factoring in your professional experience?
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Question 7 of 32
How do you manage the Accounts Receivable Aging Report?
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Question 8 of 32
What are issues related to Accounts Receivable?
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Question 9 of 32
After receiving a payment for a customer what is the next steps until finalization?
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Question 10 of 32
What are examples of deferred revenue expenditure?
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Creators of Accounts Receivable Specialist Answers and Questions

Ryan Brown
Ryan Brown, is the creator of MockQuestions. He has over ten years experience creating interview questions. His website has helped over 10 million job seekers in their interview preparation.
Bobbi Witt
Bobbi Witt, has been a finance manager for over 15 years, with direct recruiting and hiring experience in her field. Additionally, she helps young graduates prepare for their job searches by reviewing resumes, doing mock interviews, and providing guidance.
First written on: 09/24/2010
Last modified on: 07/30/2018

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Question 11 of 32
Explain what is the difference between debenture holders and creditors?
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Question 12 of 32
Do you have experience setting up Auto invoice?
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Question 13 of 32
Have you heard of Order to Cash Process (OCP)?
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Question 14 of 32
Give me an example of when a credit memo would be issued?
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Question 15 of 32
Tell me the accounting entry for A/R?
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Question 16 of 32
How much time needs to pass for an A/R account to be considered delinquent?
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Question 17 of 32
How do you define Inter Company Transaction In Accounts Receivable?
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Question 18 of 32
Explain What Is Customer Master Record?
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Question 19 of 32
Why do you feel excellent accounts receivable execution is important for our business?
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Question 20 of 32
How do you manage your time in Accounts Receivable?
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Question 21 of 32
Describe a time when you took personal accountability for a conflict and initiated contact with the individual(s) involved to explain your actions.
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Question 22 of 32
How do you handle insufficient funds received from a customer?
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Question 23 of 32
Have you ever been in a situation where you had to bargain with someone? How did you feel about this? What did you do? Give an example.
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Question 24 of 32
Do you think cash should be accepted as a form of payment?
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Question 25 of 32
Have you ever worked for a company that accepted cryptocurrency as a form of payment?
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Question 26 of 32
When a customer is unable to pay, what are steps that you have taken to retrieve the money?
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Question 27 of 32
When you see a large account starting to age, and they are a very good customer, what do you do?
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Question 28 of 32
How do you reconcile customer payments from credit card, ACH or wire, to cash or check, in the A/R system?
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Question 29 of 32
If a customer is also a vendor and the customer is not paying their invoices because your company's A/P is older and dollar amount is more, do you think it is good practice to pay the company with the open A/R dollar amount?
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Question 30 of 32
Tell me the toughest receivable collection experience you have had?
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Question 31 of 32
What information is contained in the Accounts Receivable sub-ledger?
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Question 32 of 32
Explain to me DSO?
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About Accounts Receivable Specialist

August 15th, 2018

Accounts receivable specialists are responsible for ensuring that the company they are working for receives all of the money that is due to them for services provided to their customers. The specific tasks that an accounts receivable specialist performs depend on the industry they are working in as well as their employer's modus operandi. In general, an accounts receivable specialist issues invoices for services rendered and ensures that all accounting reports and other aspects of collecting accounts are up to date.

A bachelors degree in a field related to accounts and business is the minimum requirement for anyone who wants to work as an accounts receivable specialist. Meticulous attention to detail and problem-solving skills are crucial traits for the job.Excellent communication skills are also important as you will be required to make collection calls to customers who owe the company money. Prospective employers are sure to do a background check to see if the applicant has any criminal history, as accounts receivable specialists will have access to customers' sensitive personal and financial information such as credit card numbers, contact details, and other information.

At the interview for an accounts receivable specialist job, the interviewer will ask you leading questions to determine your suitability to this role. They will ask you what you think are your strengths and weaknesses that are relevant to the role and why do you think you are a good fit. You will also be asked about your career goals. For example, 'Where do you see yourself 5 years from now?" Check out other mock interview questions to get a better idea of commonly asked questions at accounts receivable specialist interviews.

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