Career and Education Opportunities for Accounts Receivable Specialists in Sioux Falls, South Dakota
There are many career and education opportunities for accounts receivable specialists in the Sioux Falls, South Dakota area. Currently, 4,160 people work as accounts receivable specialists in South Dakota. This is expected to grow by 52% to about 6,340 people by 2016. This is better than 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.
A person working as an accounts receivable specialist can expect to earn about $13 per hour or $27,050 annually on average in South Dakota and about $14 hourly or $30,630 per year on average in the U.S. as a whole. Compared with people working in the overall category of Billing and Bookkeeping, people working as accounts receivable specialists in South Dakota earn more. They earn more than people working in the overall category of Billing and Bookkeeping nationally.
There are ten schools of higher education in the Sioux Falls area, including one within twenty-five miles of Sioux Falls where you can get a degree to start your career as an accounts receivable specialist. Given that the most common education level for accounts receivable specialists is a high school diploma or GED, you can expect to spend only a short time training to become 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 Sioux Falls 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.
- 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.
- 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
Southeast Technical Institute - Sioux Falls, SD
Southeast Technical Institute, 2320 N Career Ave, Sioux Falls, SD 57107-1301. Southeast Technical Institute is a small school located in Sioux Falls, South Dakota. It is a public school with primarily 2-year programs and has 2,138 students. Southeast Technical Institute has an associate's degree program in Banking and Financial Support Services which graduated twenty-four students in 2008.
LOCATION INFORMATION: Sioux Falls, South Dakota
Sioux Falls is located in Minnehaha County, South Dakota. It has a population of over 154,997, which has grown by 25.0% over the last ten years. The cost of living index in Sioux Falls, 81, is well below the national average. New single-family homes in Sioux Falls cost $149,700 on average, which is above the state average. In 2008, five hundred eighty-six new homes were built in Sioux Falls, down from 1,000 the previous year.
The three big industries for women in Sioux Falls are health care, finance and insurance, and educational services. For men, it is construction, finance and insurance, and accommodation and food services. The average commute to work is about 16 minutes. More than 27.8% of Sioux Falls residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 7.6%, is lower than the state average.
The unemployment rate in Sioux Falls is 5.1%, which is greater than South Dakota's average of 4.5%.
The percentage of Sioux Falls residents that are affiliated with a religious congregation, 66.8%, is more than both the national and state average. Messiah Church, Sunnycrest Church and First Convenant Church are some of the churches located in Sioux Falls. The most prominent religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the United Methodist Church.
Sioux Falls is home to the Elmwood Golf Course and the Cactus Hills Country Club as well as Pioneers of Minnehaha County Monument and Picasso Park. Visitors to Sioux Falls can choose from Kelly Inn, Fairfield Inn Sioux Falls and Albert House for temporary stays in the area.