Career Development

What Does an Accounts Manager Do?

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

The role of an accounts manager is one that requires a great deal of attention to detail. They are responsible for managing the relationships between their company and its clients or customers. This often involves ensuring that all parties are happy with the services being provided, resolving any issues that may arise, and developing new ways to improve the experience for everyone involved.

Accounts managers typically work on a team with other account managers, salespeople, marketing professionals, etc., but they also have a lot of contact with outside vendors and suppliers who provide goods or services to their company.

Accounts Manager Job Duties

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

  • Ensuring that all accounting records are up to date by monitoring reconciliations of accounts receivable and accounts payable
  • Preparing reports on financial status of business units or divisions for upper management review
  • Reviewing account applications for commercial loans or lines of credit to determine creditworthiness of applicants
  • Developing and managing budgets for departments within the organization based on projected sales or revenue growth over time
  • Responding to customer inquiries about products or services, processing orders, and answering billing questions
  • Conducting audits of records to ensure that accounting transactions have been recorded accurately
  • Communicating with clients to establish new accounts or maintain existing ones
  • Providing information about products or services to prospective customers via telephone or email, as well as assisting with ordering decisions
  • Coordinating with external auditors and other accounting professionals to ensure that all audits are performed timely and effectively

Accounts Manager Salary & Outlook

Accounts managers’ salaries vary depending on their level of education, years of experience, and the size and industry of the company. They may also earn additional compensation in the form of bonuses.

  • Median Annual Salary: $54,500 ($26.2/hour)
  • Top 10% Annual Salary: $94,500 ($45.43/hour)

The employment of accounts managers is expected to grow much faster than average over the next decade.

Demand for these workers will stem from the continued growth of e-commerce and online retail sales. As more customers research products online, companies will need to hire more accountants to keep track of their digital data.

Accounts Manager Job Requirements

There are a number of qualifications required to obtain a position as an accounts manager. They include:

Education: Most employers require an accounts manager to have a bachelor’s degree in business, finance or a related field. Some of the coursework that an accounts manager can expect to complete includes financial accounting, business law, economics, business communication and business mathematics.

Many employers prefer to hire candidates who have a master’s degree in business administration (MBA). An MBA can help an accounts manager to develop a strong foundation in business and finance and can help them to advance their career.

Training & Experience: Accounts managers typically receive on-the-job training after they are hired. This training may last for a few weeks to a month and may include learning the company’s policies and procedures, computer programs and the workflow of the department.

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

Accounts Manager Skills

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

Communication skills: Communication skills are essential for accounts managers, as they are often the primary point of contact for clients and colleagues. Effective communication skills can help you convey information clearly, answer questions and resolve issues. You can use your communication skills in a variety of ways, including in-person, over the phone and in writing.

Written communication skills: Written communication skills are also important for accounts managers. You may be required to communicate with clients and other company representatives through email or other written correspondence. You may also be required to create reports, presentations and other documents that require clear and professional written communication.

Verbal communication skills: Verbal communication skills are the ability to communicate with others through speech. This includes listening to others, speaking clearly and concisely and using appropriate body language. Accounts managers often work with clients and other employees, so they need to be able to communicate effectively with all types of people.

Active listening skills: Active listening is the ability to hear what someone is saying and to understand their message. Accounts managers often need to listen to their clients and coworkers to understand their needs and to provide them with the right solutions. This can help you to develop the right strategies for your clients and to improve your service.

Problem-solving skills: Problem-solving skills are essential for an accounts manager, as they are responsible for identifying and resolving any issues that may arise. You may be required to solve issues related to financial records, budgets, invoices and other financial documents. You may also be responsible for finding solutions to employee issues, such as resolving disputes between employees or finding solutions to employee absences.

Accounts Manager Work Environment

Accounts managers work in a variety of settings, including corporate offices, banks, and accounting firms. They typically work regular business hours, although they may occasionally have to work overtime to meet deadlines. The work can be stressful, as managers must ensure that all financial records are accurate and up to date. They also must be able to work well under pressure and handle multiple tasks simultaneously.

Accounts Manager Trends

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

The Need for Better Communication Between Accounts and Sales

The need for better communication between accounts and sales is a trend that is becoming increasingly important in the business world. This is because it allows for a more efficient process, which can lead to increased profits for companies.

Accounts managers are in a unique position to take advantage of this trend, as they are often responsible for communicating with both sales and accounts teams. By developing strong relationships with both groups, accounts managers can help to ensure that everyone is on the same page and working towards the same goal.

More Focus on Customer Experience

As businesses focus more on customer experience, account managers will need to develop skills in customer service.

This means that account managers will need to be able to understand what customers want and how to meet their needs. They will also need to be able to communicate effectively with customers in order to get feedback and make sure that they are happy with the services that they are receiving.

Greater Use of Technology

The use of technology in the workplace is increasing at a rapid rate, and this is having a significant impact on the role of the accounts manager.

As technology becomes more prevalent, accounts managers will need to learn how to use it to their advantage. This includes using software to manage tasks and projects, as well as using social media to connect with clients and potential clients.

How to Become an Accounts Manager

When starting your career as an accounts manager, it’s important to consider the company you want to work for. Do they have a good reputation? Are they growing quickly? What is their culture like?

It’s also important to think about what type of role you want to have within the company. Do you want to be in charge of a team or do you prefer to work independently? Do you want to focus on one area of accounting or do you want to be able to work across the entire spectrum?

Once you’ve answered these questions, start networking with people who can help you find the right job. Attend industry events and meetups, join LinkedIn groups related to accounting, and reach out to professionals in your field via email or social media.

Related: How to Write an Accounts Manager Resume

Advancement Prospects

The most common way to advance in this career is to move up within your current organization. As you gain experience and prove yourself to be a valuable asset to the company, you will be given more responsibility and may eventually be promoted to a higher-level position. Alternatively, you may choose to switch to a different organization, where you can use your experience to secure a more senior-level position.

Another way to advance your career is to obtain additional education, which will make you more marketable and may open up new opportunities. For example, you could pursue a master’s degree in business administration or accounting. Alternatively, you could become a certified public accountant or a certified management accountant.

Finally, you could choose to start your own accounting firm. This option would give you the most control over your career, but it would also be the most risky.

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