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Accounts Receivable Specialist Interview
Questions

30 Accounts Receivable Specialist Questions and Answers by Bobbi Witt
| Bobbi has been a finance manager for over 15 years, with direct recruiting and hiring experience in her field.

Question 1 of 30

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

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Accounts Receivable Specialist Interview Questions

  1. 1.

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

      This question is a very straightforward one that you can answer by drawing on your experience or academic knowledge. Because it is an open-ended question, it is easy to get stuck on your response. Think of the processes that you follow every day, and walk the interviewer through those steps.

      Bobbi's Answer

      "Depending on how the customer payment was received; prepayment or final payment, will determine the next steps. If the customer payment is cash, check, ACH, or wire then it needs to be appropriately applied to outstanding customer invoice. Once I take this step, then I recognize the cash deposit in the cash account."

      Bobbi's Answer

      "From my understanding, when a customer payment is received, the payment is applied against the open invoice and properly posted to the general ledger. Then the cash will need to be recognized and the invoice updated."

      Bobbi's Answer

      "Depending upon how the customer payment was received; prepayment or final payment, will determine the next steps. Let's assume that service or widget has been received. If the customer payment is cash, check, ACH, or wire then it needs to be appropriately applied to customer outstanding invoice/s. Once this has been done, then recognize the cash deposit in the cash account."