Career and Education Opportunities for Accounts Receivable Specialists in St. Paul, Minnesota
There are many career and education opportunities for accounts receivable specialists in the St. Paul, Minnesota area. There are currently 7,160 working accounts receivable specialists in Minnesota; this should grow 19% to about 8,480 working accounts receivable specialists in the state by 2016. This is not quite as good as the nation as a whole, where employment opportunities for accounts receivable specialists are expected to grow by about 19.3%. In general, accounts receivable specialists locate and notify customers of delinquent accounts by mail, telephone, or personal visit to solicit payment.
Accounts receivable specialists earn about $14 hourly or $31,070 annually on average in Minnesota and about $14 per hour or $30,630 annually on average nationally. Incomes for accounts receivable specialists are better than in the overall category of Billing and Bookkeeping in Minnesota, and better than the overall Billing and Bookkeeping category nationally.
There are seventy-seven schools of higher education in the St. Paul area, including two within twenty-five miles of St. Paul where you can get a degree to start your career as an accounts receivable specialist. Accounts receivable specialists usually hold a high school diploma or GED, so you can expect to spend only a short time studying to be an accounts receivable specialist if you already have a high school diploma.
CAREER DESCRIPTION: Accounts Receivable Specialist
In general, accounts receivable specialists locate and notify customers of delinquent accounts by mail, telephone, or personal visit to solicit payment. They also duties include receiving payment and posting amount to customer's account; preparing statements to credit department if customer fails to respond; initiating repossession proceedings or service disconnection; keeping records of collection and status of accounts.
Accounts receivable specialists answer customer questions regarding problems with their accounts. They also advise customers of needed actions and strategies for debt repayment. Equally important, accounts receivable specialists have to locate and notify customers of delinquent accounts by mail or personal visits to solicit payment. They are often called upon to talk with customers by telephone or in person to establish reasons for overdue payments and to review the terms of sales or credit contracts. They are expected to manage debt repayment or establish repayment schedules, on the basis of customers' financial situations. Finally, accounts receivable specialists perform various administrative functions for assigned accounts.
Every day, accounts receivable specialists are expected to be able to articulate ideas and problems. They need to listen to and understand others in meetings.
It is important for accounts receivable specialists to trace delinquent customers to new addresses by inquiring at post offices or through the questioning of neighbors. They are often called upon to sort and file correspondence, and perform miscellaneous clerical duties such as answering correspondence and writing reports. They also notify credit departments, order products repossession or service disconnection, and turn over account archives to attorneys when customers fail to respond to collection attempts. They are sometimes expected to receive payments and post amounts paid to customer accounts. Somewhat less frequently, accounts receivable specialists are also expected to persuade customers to pay amounts due on credit accounts or nonpayable checks, or to return products.
They also have to be able to contact insurance companies to check on status of claims payments and write appeal letters for denial on claims And finally, they sometimes have to locate and monitor overdue accounts, using computers and a variety of automated systems.
Like many other jobs, accounts receivable specialists must be able to deal with stress and deal with situations calmly and have strong self control in the face of challenging situations.
Similar jobs with educational opportunities in St. Paul include:
- Bank Teller. Receive and pay out money. Keep records of money and negotiable instruments involved in a financial institution's various transactions.
- Bookkeeper. Compute, classify, and record numerical data to keep financial records complete. Perform any combination of routine calculating, posting, and verifying duties to obtain primary financial data for use in maintaining accounting records. May also check the accuracy of figures, calculations, and postings pertaining to business transactions recorded by other workers.
- Clerk. Compile data, compute fees and charges, and prepare invoices for billing purposes. Duties include computing costs and calculating rates for goods, services, and shipment of goods; posting data; and keeping other relevant records. May involve use of computer or typewriter, calculator, and adding and bookkeeping machines.
- Credit Investigator. Investigate history and credit standing of individuals or business establishments applying for credit. Telephone or write to credit departments of business and service establishments to obtain information about applicant's credit standing.
- Customer Care Specialist. Interact with customers to provide information in response to inquiries about products and services and to handle and resolve complaints.
- Eligibility and Occupancy Interviewer. Determine eligibility of persons applying to receive assistance from government programs and agency resources, such as welfare, unemployment benefits, and public housing.
- Gaming Cashier. Conduct financial transactions for patrons in gaming establishments. May reconcile daily summaries of transactions to balance books. Accept patron's credit application and verify credit references to provide check-cashing authorization or to establish house credit accounts. May sell gambling chips, tokens, or tickets to patrons, or to other workers for resale to patrons. May convert gaming chips, tokens, or tickets to currency upon patron's request. May use a cash register or computer to record transaction.
- Order Clerk. Receive and process incoming orders for materials, merchandise, or services such as repairs, installations, or rental of facilities. Duties include informing customers of receipt, prices, and delays; preparing contracts; and handling complaints.
- Payroll Machine Operator. Operate machines that automatically perform mathematical processes, such as addition, subtraction, and division, to calculate and record billing, accounting, and other numerical data. Duties include operating special billing machines to prepare statements, bills, and invoices, and operating bookkeeping machines to copy and post data, make computations, and compile records of transactions.
- Statement Clerk. Prepare and distribute bank statements to customers, answer inquiries, and reconcile discrepancies in records and accounts.
EDUCATIONAL OPPORTUNITIES: Accounts Receivable Specialist Training
North Hennepin Community College - Brooklyn Park, MN
North Hennepin Community College, 7411 85th Ave N, Brooklyn Park, MN 55445. North Hennepin Community College is a medium sized college located in Brooklyn Park, Minnesota. It is a public school with primarily 2-year programs and has 6,904 students. North Hennepin Community College has a less than one year program in Banking and Financial Support Services which graduated eight students in 2008.
Minneapolis Community and Technical College - Minneapolis, MN
Minneapolis Community and Technical College, 1501 Hennepin Ave, Minneapolis, MN 55403-1779. Minneapolis Community and Technical College is a medium sized college located in Minneapolis, Minnesota. It is a public school with primarily 2-year programs and has 9,539 students. Minneapolis Community and Technical College has a less than one year program in Banking and Financial Support Services which graduated two students in 2008.
Collection Agency and Debt Collector
Licensing agency: Commerce, Minnesota Dept. of
Address: Licensing Unit, Minnesota Department of Commerce, 85 7th Place East, Suite 600, St. Paul, MN 55101-3165
Phone: (651) 296-6319
Website: Commerce, Minnesota Dept. of Licensing Unit Minnesota Department of Commerce
LOCATION INFORMATION: St. Paul, Minnesota
St. Paul is located in Ramsey County, Minnesota. It has a population of over 279,590, which has shrunk by 2.6% in the past ten years. The cost of living index in St. Paul, 99, is near the national average. New single-family homes in St. Paul are valued at $213,300 on average, which is well below the state average. In 2008, thirty new homes were built in St. Paul, down from seventy-four the previous year.
The three most popular industries for women in St. Paul are educational services, health care, and finance and insurance. For men, it is educational services, professional, scientific, and technical services, and construction. The average commute to work is about 21 minutes. More than 32.0% of St. Paul residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 12.0%, is higher than the state average.
The unemployment rate in St. Paul is 7.4%, which is greater than Minnesota's average of 7.0%.
The percentage of St. Paul residents that are affiliated with a religious congregation, 61.3%, is more than both the national and state average. Zion Church, Convent of the Visitation and Saint Paul Cathedral are some of the churches located in St. Paul. The most prominent religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the Baptist General Conference.
St. Paul is home to the Saint Paul Orphange and the Wilder Center as well as Terrace Park and East View Playground.