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Accounts Receivable Specialist Interview Questions

32 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?
How to Answer
Attention to detail is of the utmost importance in the A/R function. The accuracy of records is extremely important, and interviewers need to hear that you have these skills. Describe specific situations and how you acted in this situation.
Entry Level Example
"Yes of course. I have had an eye for detail since childhood. Perhaps, that is why I did exceptionally well in my last job as inventory clerk. I had the lowest rebound percentage in my department and was the newest team member. At the end of the month, inventory was counted by two people and department goals were set for the person that had the highest success rate for counting inventory and was rewarded with a free lunch. I had worked in the department for 8 months and had the highest monthly inventory success rate for the last 3 months. I took my time and was thorough by counting the inventory twice."
Experience Example
"At my current job the business was getting a lot of complaints about late deliveries I met with the staff involved in the customer delivery department and discovered that the problem seemed to be with the stock coming through on time. I investigated and found that requests for new inventory were not processed in a timely manner. The backlog was in the orders department as they were not following up adequately with the suppliers. A system for regular follow-up was quickly implemented. This sorted out the stock problems and the delivery staff were able to meet their deadlines."
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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.
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
Explain to me DSO?
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How to Answer
For this question the interviewer is looking for the interviewee to be familiar with DSO or Days Outstanding? If you do not know what the acronym stands for then do not be afraid to ask the interviewee.

DSO or Days Outstanding and is a measure of the average number of days that it takes a company to collect payment after a sale has been made. This is a very important metric in Accounts Receivable.
DSO = Total Accounts Receivable/Total Sales x Number of Days.
Entry Level Example
"DSO is often determined on a monthly, quarterly or annual basis, and can be calculated by dividing the amount of accounts receivable during a given period by the total value of credit sales during the same period, and multiplying the result by the number of days in the period measured. This is a metric to allow companies to gauge how fast cash flow will be coming in."
Experience Example
"Days Sales Outstanding (DSO) is a widely used method to help evaluate how effective a company is at collecting receivables. This metric is used to measure the average number of days it takes a company to collect what is owed to them after a sale has been completed. Put in fewer words, it is the average collection period. DSO has always been an emphasis for all companies I have worked and is calculated by There is much to know about measuring and interpreting DSO; 1. A low DSO indicates the company is collecting receivables quickly and generally a positive sign. 2. A high DSO proves that a company takes longer to collect on credit sales and can indicate current or impending cash flow problems, operational issues, or a lack of effort or focus on credit collections. A healthy DSO is one that is half the payment terms. For example, is payment terms are net 30 and the DSO is 45 day, then this considered good. "
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Writers for 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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About Accounts Receivable Specialist

September 2nd, 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.