Sales Ledger departments collate sales information and issue invoices to clients, resolving any resulting queries. Payments are recorded in the sales ledger which is also used to monitor bad debt and late payments.
The Sales Ledger or Accounts Receivable function in a business is responsible for ensuring invoices are generated and distributed for all sales made by the business and then for collecting and recording payments against these invoices.
Sales Ledger specialists frequently work as part of a larger finance function, although the responsibilities can be carried out by a single finance specialist in a small organisation. Sales Ledger Clerks are responsible for accurately and efficiently recording sales and then issuing related invoices to clients in order to allow a company to understand what revenues are forthcoming and also to plan cash flow.
An experienced and senior professional will usually be responsible for the overall Sales Ledger function, although daily duties are often carried out by junior members of staff.
Typical duties include:
Recording sales and producing invoices.
Calculating VAT for accurate inclusion on invoices.
Recording payments.
Producing reports and statements for internal use.
Producing statements for clients.
Chasing payments on overdue invoices.
Keeping accurate files and copies of invoices issued.
Qualifications
Entry level Sales Ledger Clerks do not need specific financial qualifications, although good levels of numeracy and literacy are prerequisite - most employers will require GCSEs in English and Mathematics. Skills in relevant computer software and applications - such as spreadsheets and databases - are very useful.
Senior roles in Sales Ledger are often filled by qualified or part qualified accountants or by accounting technicians with AAT qualifications.
Salary Snapshot
Recent salaries advertised on TopFinancialJobs (December 2009) include:
£7-9 per hour for a Sales Ledger Clerk working on a temporary basis for a leading accountancy practice in Essex.
£11-15 per hour for a temporary Sales Ledger Clerk working for an expanding health and leisure company in London.
£13 per hour for a temporary Senior Accounts Receivable Clerk working for an internationally recognised music brand in London.
Do you work in Sales Ledger? Would you like to contribute to our "Day in the Life of..." series? Email us at info@topfinancialjobs.co.uk for more details.
