Career Development

What Does an Accounts Executive Do?

Find out what an accounts executive does, how to get this job, and what it takes to succeed as an accounts executive.

Accounts executives are the liaisons between companies and their customers. They are responsible for establishing and maintaining relationships with clients, developing new business opportunities, and ensuring that their company meets the needs of its customers.

Accounts executives commonly specialize in a particular industry or sector, such as retail or technology. Their job is to build relationships with key decision makers at potential clients, understand their needs, and develop solutions that will meet those needs. They may also be responsible for presenting these solutions to clients in an effort to secure new business.

Accounts Executive Job Duties

Accounts executives typically have a wide range of responsibilities, which can include:

  • Maintaining contact with clients by scheduling meetings, answering questions, and handling problems that arise
  • Creating proposals for new business opportunities with potential clients
  • Providing administrative support to managers by maintaining client files, processing invoices, responding to requests for proposals (RFPs), and performing other clerical duties
  • Preparing financial statements including balance sheets, profit and loss statements, and other reports as needed
  • Preparing bids for new business opportunities with existing clients
  • Drafting contracts and agreements based on legal guidelines and company policies
  • Developing and maintaining relationships with potential clients in order to build business opportunities for the company
  • Reviewing financial information to identify new business opportunities or risks for existing clients
  • Identifying new opportunities for growth within existing markets by researching target markets and industries with high potential for growth

Accounts Executive Salary & Outlook

Accounts executives’ salaries are affected by years of experience in a particular position, the company size, and the geographic location of the job. They may also earn additional compensation in the form of bonuses and commissions.

  • Median Annual Salary: $85,000 ($40.87/hour)
  • Top 10% Annual Salary: $161,000 ($77.4/hour)

The employment of accounts executives is expected to grow at an average rate over the next decade.

Demand for these workers depends largely on the health of the economy. As demand for products and services grows, companies will need to hire more accountants to keep track of their finances. However, automation may limit the number of jobs available for these workers.

Accounts Executive Job Requirements

To become an accounts executive, you may need to have the following:

Education: Most employers require an accounts executive to have a bachelor’s degree. The most common majors for this position are business administration, finance, economics and marketing. Classes in these programs cover topics such as accounting, finance, business law, economics, statistics and marketing.

Training & Experience: Accounts executives typically receive on-the-job training after they are hired. This training may include learning the company’s policies and procedures, as well as the software and technology they use. Accounts executives who have previous experience in a similar role may transfer their knowledge to their new company.

Certifications & Licenses: Certifications enable professionals to prove their qualifications to current and future employers. Accounts executives can earn certifications to gain more theoretical knowledge of their responsibilities, test their professional skills and further advance their career.

Accounts Executive Skills

Accounts executives need the following skills in order to be successful:

Strong communication skills: Communication is the act of conveying information from one person to another. As an accounts executive, you’ll need to communicate with clients, coworkers and managers. You’ll need to be able to listen to clients and respond to their questions and concerns. You’ll also need to be able to convey information to your coworkers and managers in a clear and concise manner.

Strong math skills: Math skills are essential for accounts executives, as they often need to calculate numbers accurately and quickly. This includes calculating percentages, finding discounts and applying tax rates. You may also need to input data into spreadsheets and other programs, so it’s important to have strong math skills.

Problem-solving skills: Problem-solving skills are essential for accounts executives, as they are often the first point of contact for customers. You may need to solve issues such as billing problems, technical difficulties or customer complaints. You can use your problem-solving skills to identify the issue, research possible solutions and implement a solution.

Account planning and analysis skills: Accounts executives need to be able to plan and analyze their accounts. This includes knowing how much money the company has, how much money they need to make and how much money they have made. It also includes analyzing the company’s expenses and revenue. This is important because it allows the accounts executive to make informed decisions about the company’s finances.

Product and industry knowledge: Product and industry knowledge is another important skill for an accounts executive. You should be able to answer questions about the company’s products and services, including how they work, what they’re made of and how they compare to similar products. You should also be able to answer questions about the company’s competitors and how your company’s products are different from theirs.

Accounts Executive Work Environment

Accounts executives work in a variety of settings, including corporate offices, banks, and insurance companies. They typically work a standard 40-hour week, although they may have to work longer hours to meet deadlines or travel to meet with clients. Accounts executives may experience a high level of stress due to the nature of their work, which often requires them to make quick decisions that could have a significant financial impact on their company or clients.

Accounts Executive Trends

Here are three trends influencing how accounts executives work. Accounts executives will need to stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace.

Cloud-Based Software Is Changing the Role of Accounts Receivable

Cloud-based software is changing the role of Accounts Receivable (AR) professionals. With this software, AR staff can now access accounts and customer data from any device with an internet connection.

This shift is requiring AR professionals to become more technologically savvy, as they need to be able to use the software to its fullest potential. Additionally, they need to be able to communicate with other departments within the company to get the most accurate information about customers.

The Need for Stronger Account Relationships

The need for stronger account relationships is becoming increasingly important for businesses in today’s economy. This is because businesses are realizing that they need to focus on long-term relationships in order to be successful.

Accounts executives can utilize this trend by focusing on building strong relationships with their clients. This can be done by developing trust and understanding their clients’ needs. In addition, accounts executives can provide value to their clients by offering insights and advice that can help them improve their business.

The Growing Importance of Analytics

The growing importance of analytics is a trend that is having a major impact on the accounting profession. As businesses become more reliant on data, they are turning to accountants to help them make sense of it all.

This trend is causing a shift towards a more data-driven approach to accounting, which requires professionals who are skilled in analytics. As a result, accounts executives who are able to utilize data to make sound business decisions will be in high demand.

The Increased Pressure to Improve Financial Reporting

The pressure to improve financial reporting is increasing for businesses of all sizes. This is due to the fact that investors and other stakeholders are increasingly looking for accurate and timely information in order to make informed decisions.

As a result, accounts executives will need to be well-versed in financial reporting procedures and practices. They will also need to be able to work quickly and efficiently to meet the demands of their clients.

The Growth of the RPA (Robotic Process Automation) Industry

The growth of the RPA (Robotic Process Automation) industry is creating new opportunities for professionals with experience in accounts payable and accounts receivable.

As businesses increasingly turn to RPA to automate their accounting processes, they will need professionals who can manage and oversee these systems. This will create opportunities for accounts executives who have experience in both accounts payable and accounts receivable.

New Technologies Will Increase Opportunities

The increasing use of new technologies, such as cloud-based accounting software, is creating new opportunities for accounts executives.

As businesses move towards these new technologies, they will need professionals who can help them manage their finances and accounting using these new tools. This will create opportunities for accounts executives who are able to adapt to these new technologies and understand how to use them to their advantage.

How to Become an Accounts Executive

There is no one-size-fits-all approach to planning a successful career in accounts executive. However, there are a few key things that all aspiring accounts executives should keep in mind.

One of the most important things to consider when planning your accounts executive career is the type of company you want to work for. Do you want to work for a small, family-owned business, or a large, multinational corporation? Each type of company has its own unique set of benefits and drawbacks.

Another important factor to consider is your level of experience. If you’re just starting out in your career, you may want to consider working for a smaller company that will give you the opportunity to learn on the job. If you’re more experienced, you may want to look for a position at a larger company where you can take on more responsibility and advance your career.

Related: How to Write an Accounts Executive Resume

Advancement Prospects

Accounts executives typically start their careers in entry-level positions, such as account coordinator or assistant account executive. With experience, they advance to account executive and then to senior account executive or account supervisor. The most successful and experienced accounts executives may become partners in their firm.

Many firms offer formal training programs to help prepare workers for advancement. In addition, accounts executives can improve their prospects for advancement by taking courses in business administration, marketing, and accounting. Some executives get a master’s degree in business administration (MBA).

The best opportunities for advancement will go to those who have a strong record of success in sales and who are skilled in working with people. Those who are creative, resourceful, and able to think outside the box will also have an advantage.

Accounts Executive Job Description Example

At [CompanyX], we’re looking for an experienced accounts executive to join our team. The ideal candidate will have a proven track record in sales and account management, with the ability to develop and maintain strong relationships with clients. They will be responsible for managing a portfolio of accounts, ensuring that targets are met and that clients are satisfied with the level of service. They will also be responsible for identifying new business opportunities and generating leads. The successful candidate will be a self-starter with excellent communication and negotiation skills.

Duties & Responsibilities

  • Develop and maintain strong relationships with key accounts
  • Understand customer needs and requirements, and identify opportunities to upsell and cross-sell
  • Negotiate contracts and pricing with customers
  • Act as the primary point of contact for assigned accounts, and manage all communication and expectations
  • Monitor account activity and performance, and report on findings to upper management
  • Develop and implement account plans that align with company objectives
  • Stay up-to-date on industry trends and news, and share relevant information with customers
  • Attend trade shows and events on behalf of the company, and represent the company in a professional manner
  • Generate new leads and business opportunities through networking and cold-calling
  • Update CRM system with account information and activity
  • Process customer orders and ensure timely delivery
  • Resolve customer complaints and issues in a prompt and satisfactory manner

Required Skills and Qualifications

  • Bachelor’s degree in business, accounting, or related field
  • 5+ years experience in an accounting role
  • Proven experience with Accounts Receivable and Accounts Payable
  • Working knowledge of QuickBooks or similar accounting software
  • Strong understanding of GAAP standards
  • Excellent communication and presentation skills

Preferred Skills and Qualifications

  • MBA or other advanced degree
  • CPA certification
  • 10+ years experience in an accounting role
  • Experience in a leadership position

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