17 Accounts Receivable Specialist Interview Questions and Answers

An accounts receivable specialist is responsible for ensuring that a company receives the payments it is owed. This position is responsible for invoicing customers, tracking payments, and resolving any discrepancies. A successful interviewee for this position should be able to demonstrate their knowledge of accounts receivable procedures and their ability to maintain good customer relationships.

In order to help you prepare for your interview, we have gathered some common questions and answers that you may be asked.

Are you comfortable calling or visiting clients to collect payments?

This question can help the interviewer determine if you have experience with this type of work. Use examples from your previous job to show that you are comfortable with this task and how you approach it.

Example: “I am very comfortable calling or visiting clients to collect payments. In my last role, I was responsible for contacting clients who were late on their accounts. I would call them once a week until they paid their balance in full. If they still didn’t pay after two weeks, I would send them a letter reminding them of their balance and what actions we would take if they didn’t pay by the deadline.”

What are some of the best methods you’ve used to collect payments?

This question can help the interviewer understand your methods for collecting payments and how you apply them to different situations. Use examples from previous work experience that highlight your ability to collect payments, prioritize tasks and manage time effectively.

Example: “I find it helpful to send out reminders before a payment is late. This helps clients remember their due dates and avoid penalties. I also use email reminders as opposed to phone calls because they are less intrusive and more convenient for my clients. Another method I’ve used in the past is sending out invoices with built-in payment options like credit cards or PayPal. This makes it easier for clients to pay on time and frees up my time so I can focus on other tasks.”

How would you handle a situation where a client refuses to pay their outstanding balance?

This question can help interviewers assess your problem-solving skills and ability to remain calm under pressure. Your answer should include steps you would take to resolve the situation while maintaining a positive relationship with the client.

Example: “I would first try to understand why they are refusing to pay their balance. I would then explain that we have already provided them with several reminders, which is in accordance with our company policy. If they still refuse to pay, I would document the conversation and send it to my manager for further action.”

What is your experience with using accounting software?

This question can help the interviewer learn about your experience with using accounting software and how you apply it to your work. Use examples from previous jobs to explain what types of software you’ve used and how you applied them to your job duties.

Example: “In my last position, I worked with a variety of different accounting software including QuickBooks Online, Freshbooks and Wave Accounting. These programs helped me manage client accounts, invoice clients and track payments. I also learned how to use these programs to generate reports that were useful for management.”

Provide an example of a time when you identified and resolved a billing error.

Interviewers ask this question to learn more about your problem-solving skills and ability to resolve billing errors. Use examples from previous work experience or explain how you would approach identifying and resolving a billing error if you’ve never encountered one in the past.

Example: “In my last role, I noticed that we were missing a client’s payment for their invoice. After contacting the client, they informed me that they had already paid their invoice but forgot to update their records. I contacted our accounting team to help them remove the late fee and resend the invoice with the updated payment information.”

If a client suddenly stops making payments, how would you handle the situation?

This question can help the interviewer assess your problem-solving skills and ability to remain calm under pressure. Your answer should show that you understand how important it is to maintain a good relationship with clients, even when they are not making payments on time.

Example: “I would first try to contact them by phone or email to find out why they haven’t made their payment yet. If I cannot reach them after several attempts, I will send them a letter reminding them of the late payment and requesting an explanation for the delay. If they still don’t respond, I will call our legal department to see if there’s anything we can do about the situation.”

What would you do if you noticed suspicious activity in one of your clients’ accounts?

This question can help the interviewer assess your ability to detect fraud and other illegal activities. Use examples from past experience where you noticed suspicious activity, investigated it and reported it to management or law enforcement.

Example: “I once worked with a client who was receiving large amounts of money from unknown sources. I immediately brought this to my manager’s attention so we could report it to our company’s compliance department. After an investigation, we found that the client had been selling counterfeit goods online without knowing it. We notified the client and helped them resolve the issue by refunding all their customers and reporting the incident to the proper authorities.”

How well do you understand the Fair Credit Billing Act?

The Fair Credit Billing Act is a federal law that protects consumers from unfair billing practices. Employers ask this question to make sure you understand the basics of the act and how it applies to your role as an accounts receivable specialist. In your answer, explain what the Fair Credit Billing Act is and why it’s important for you to follow its guidelines.

Example: “I have worked in accounting for five years now, so I am very familiar with the Fair Credit Billing Act. This act prevents companies from charging customers for things they didn’t order or receive. It also requires businesses to send out bills within 30 days of receiving payment. If there are any errors on the bill, the company must correct them within 60 days. These rules help me ensure my team follows all the necessary procedures when sending out invoices.”

Do you have any experience working with vendors or suppliers?

Employers may ask this question to see if you have experience working with outside vendors or suppliers. This can be an important part of the job, as you will need to communicate effectively and efficiently with these individuals. When answering this question, it can be helpful to mention a specific vendor or supplier that you worked with in your previous role.

Example: “In my last position, I was responsible for communicating with our primary supplier regarding any issues we were having with their products. For example, when there was a shortage on one of our most popular items, I had to contact them to find out why they didn’t deliver enough inventory. They explained that they were experiencing some technical difficulties with their shipping software, but assured us that they would ship more product by the end of the week.”

When reviewing a client’s account, what factors do you consider?

This question can help the interviewer understand how you prioritize your work and determine which clients to focus on first. Use examples from previous experience in which you used a specific method or process for prioritizing accounts.

Example: “I consider several factors when reviewing an account, including the client’s payment history, their current balance and whether they have any outstanding invoices. I also look at the age of the invoice and if there are any special circumstances that may affect the client’s ability to pay. For example, if a client is currently undergoing financial hardship, I will reach out to them directly to see what we can do to help them get caught up.”

We want to improve our customer service. Describe a strategy you would use to improve our customer satisfaction rate.

Interviewers may ask this question to see how you can improve the company’s customer service. Use your answer to show that you have experience with improving customer satisfaction and increasing sales.

Example: “I would start by analyzing our current customer satisfaction rate. I would then create a plan for improvement, including what we need to do differently to increase our rating. For example, if we are receiving many complaints about late payments, I would work with accounting to ensure all invoices are sent on time. If customers are calling in frequently, I would also look at our phone system to make sure it is easy to use and find ways to reduce call times.”

Describe your experience with debt collection.

Employers ask this question to learn more about your experience with a specific type of accounting. When answering, you can describe the types of debt collection you’ve done in the past and how it helped your employer’s business.

Example: “In my last role as an accounts receivable specialist, I was responsible for collecting on late payments from clients. I would call them multiple times per week until they paid their invoice. In some cases, I had to send out letters requesting payment. Eventually, most clients paid their invoices, but there were a few who didn’t pay at all. For those clients, I sent them to collections where they faced additional fees.”

What makes you stand out from other candidates?

Employers ask this question to learn more about your qualifications and how you can contribute to their company. When answering, it’s important to highlight a skill or experience that makes you unique from other candidates. You can also mention any skills you have that are relevant to the job.

Example: “I am highly organized and detail-oriented, which is why I’ve been able to maintain an error-free record in my previous positions. In addition, I’m passionate about helping others, so I always make sure to provide excellent customer service when speaking with clients. These skills helped me achieve a 100% client satisfaction rate at my last position.”

Which accounting software do you prefer to use and why?

This question can help the interviewer determine your comfort level with accounting software and how you use it. If you have experience using a specific type of accounting software, share that information with the interviewer. If you haven’t used any accounting software before, explain which types of software you’re familiar with and why you prefer one over another.

Example: “I’ve worked in an office where we used QuickBooks for our accounting needs. I found this software to be very user-friendly and easy to navigate through. It also has many useful features that make my job easier, such as its ability to generate reports and track payments. This helps me stay organized and on top of my work.”

What do you think is the most important skill for an accounts receivable specialist to have?

This question can help the interviewer determine if you have the skills and abilities they’re looking for in an accounts receivable specialist. When answering this question, it can be helpful to mention a skill that is directly related to the job description.

Example: “I think one of the most important skills for an accounts receivable specialist is attention to detail. This role requires someone who can accurately record payments from clients and ensure all financial transactions are recorded correctly. Attention to detail is essential for making sure these tasks are done properly.”

How often do you review your own accounts to ensure everything is in order?

This question can help the interviewer determine how much initiative you take in your work. Your answer should show that you are willing to review your own work and make corrections when necessary.

Example: “I am very thorough with my work, so I usually don’t have any issues with it. However, if there is ever a discrepancy or mistake, I will immediately go back through all of my records to find out where the error occurred. If I still cannot find the problem, I will ask for assistance from my supervisor or another colleague.”

There is a discrepancy in your accounts. How do you handle this?

This question is an opportunity to show your problem-solving skills and ability to work independently. When answering this question, it can be helpful to describe the steps you would take to resolve the discrepancy.

Example: “If there was a discrepancy in my accounts, I would first review all of the documents associated with the account. Then, I would contact the client to confirm that the information they provided me was correct. If the client’s information matched what I found in my records, I would then check for any errors in my calculations or inputting of data. Finally, if everything checked out, I would make sure to document the issue so that I could avoid making the same mistake again.”