An Account Manager will ensure that the accounts receivables are accurately recorded and processed in a timely manner. To do this the Account Manager must have a thorough understanding of the various accounts payable procedures. This understanding helps to ensure that a company is able to provide prompt and consistent payments for purchases made. The Account Manager also has an important role in ensuring that sales revenue is correctly calculated to include the correct taxes.
An Account Manager should be able to determine if an item can be returned and how quickly a refund request should be completed. In addition, an Account Manager should be able to handle customer inquiries promptly. This can be accomplished by maintaining appropriate contact information. The Account Manager should be knowledgeable regarding tax laws and other regulations. He or she should also be aware of current market conditions.
As the owner of a small business, an Account Manager can be responsible for keeping an accurate bookkeeping system. The Account Manager must be adept at using spreadsheets and computer software programs. The Account Manager must also be able to manage payroll, sales and profit and loss statements. The Account Manager must be able to produce audited financial statements in a format acceptable to the Internal Revenue Service.
Because accounting information is stored on computers, the Account Manager must be familiar with operating systems, database management, hardware, software, and the Internet. The Account Manager must have an ability to operate Microsoft Office applications. Because it is possible to conduct transactions from the Internet, the Account Manager must be proficient with the use of the internet for banking, invoicing, and billing.
The Account Manager must be knowledgeable concerning how to use all the company’s accounts payable procedures. He or she must have an understanding of what types of accounts must be reported. An Account Manager should also be knowledgeable concerning the types of invoices that must be prepared, and how they should be reported on a general ledger account.
In order to keep track of and manage accounts receivables effectively, an Account Manager must be able to understand the nature of each invoice and the company’s return policy. The Account Manager must know about billing errors that might occur, such as insufficient payment or return of items purchased, or an overpayment. An Account Manager should be able to maintain accurate and timely accounts payable records. In addition, an Account Manager should be familiar with the different types of account receivables.
Finally, an Account Manager must have a good working knowledge of the internal accounting processes for the accounting department. Since most companies have several departments that deal with general ledger and bank accounts receivables, the Account Manager must be familiar with these processes.
An Account Manager must be familiar with the company’s return policy for goods purchased through invoicing, as well as invoicing and tracking of returns. An Account Manager must be able to follow up on accounts receivable payments made by employees and customers to insure that the funds have been properly expended for their benefit.
An Account Manager must be able to keep current with the latest changes in company policies and procedures. An Account Manager must be able to keep up-to-date with the requirements of government agencies. An Account Manager must have good communication skills so that he or she can explain the company’s policies and procedures to employees and customers.
Since the ability to communicate well is very important to the success of an Account Manager, having the proper communication and customer service skills is essential to his or her success. If you wish to obtain an Account Manager Certification, take some time to do your homework.