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Accounts Receivable Specialist Interview

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

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

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Accounts Receivable Specialist Interview Questions

  1. 1.

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

      The interviewer is looking for your basic A/R knowledge as well as your ability to explain a straightforward concept in an easy to understand way. Walk the hiring authority through the information that an A/R sub-ledger would contain. Briefly describe the purpose of an A/R ledger, and why they are essential in accounting.

      Bobbi's Answer

      "An A/R sub-ledger is important because it displays the payment history of a customer who has been extended credit. This information includes all sales, payments, and allowances, allowing anyone looking at the file to have a full snapshot of the customers' financial activity."

      Bobbi's Answer

      "The accounts receivable sub-ledger is a record of all credit sales made by a business. It is useful for compiling one record for a customer that contains all payments, credit terms, and other important historical information."

      Bobbi's Answer

      "he usefulness of the accounts receivable subsidiary ledger lies in the fact that it can show, at a glance, the account status and amounts owed by a specific customer. For example, the general balance may show a total accounts receivable balance of $100,000, but it will not show which customer owes how much. This information can be gleaned from the accounts receivable subsidiary ledger. This ledger will show, for example, that Customer A owes $15,000, Customer B owes $25,000, Customer C owes $5,000, and so on.

      Without this subsidiary ledger, a company with many customers would have difficulty tracking customer payments and transactions. Like other subsidiary ledgers, the accounts receivable subsidiary ledger merely provide details of the control account in the general ledger. Other subsidiary ledgers include accounts payable subsidiary ledger, inventory subsidiary ledger, and property, plant, and equipment subsidiary ledger."