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KRA & KPI Accounting Sector Introduction...
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JOB DESCRIPTION AND RESPONSIBILITY
KEY RESULT AREA(KRA) & KEY PERFORMANCE INDICATOR(KPI)
accounting sector
Billing Clerk
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Introduction
Billing clerks create invoices, and credit memos, update accounting records, and customer information, and send payment reminders. They deal with customers, send them invoices, and answer any queries.
Do You Want to be a Billing Clerk? To build a career as a Billing Clerk Manager you need to first understand the Job profile and responsibilities of the job
This blog gives you a detailed idea of what it is like to become a Billing Clerk in the Accounting and Finance Industry of India.
Soft Skill, Technical Skills and Certification:
Computer skills:
Billing clerks use computers to enter data, create spreadsheets, and sort through files as having strong computer skills can help you be more efficient at your job and complete tasks quickly, hence, They have basic computer skills, including how to use a mouse, keyboard and common computer programs.
Interpersonal and Communication Skills:
They need to have good Interpersonal and Communication Skills in order to talk to people in the organization such as the sales department, accounting department, and other relevant departments. They also need to call creditors or debtors who owe money and then talk to them. They need to be polite with debtors and maintain good relations with them and good communication skills are required for it.
Organization Skills:
Billing clerks often work with large amounts of data, so it’s important for them to be able to organize their workspace and paperwork. This ensures that they can find the information they need quickly and efficiently.
Time Management skills:
Time management is the ability to complete tasks within a certain time frame and as they have to multitask and complete each day, time management skills can help them meet their deadlines.
Job description
Billing clerks are responsible for entering and maintaining customer information, billing them for services rendered, and handling any related inquiries or complaints along with generating invoices, updating databases, and performing other clerical duties. The billing clerk also has to do other tasks such as updating accounting records with issued invoices, new payments, customer information, etc
Job Roles and Responsibilities
- They will Create and issue invoices to customers
- Process credit memos
- Process insurance claims for services rendered by the practice, including contacting patients for additional information about their claims
- Updating accounting records with issued invoices
- Also processed payments, new balances, and customer contact information
- They Monitor all payments and prepare monthly billing reports
- Preparing bills for services rendered
- Manag account balances and resolve inconsistencies
Key Result Areas (KRA) &
Key Performance Indicator (KPI)
Sr. No. | KRA | KPI |
1 | How many account balances and outstanding debts or other inconsistencies cleared in a month | No. of Account balances and outstanding debts or other inconsistencies cleared in a month |
2 | How many accurate final bills are executed in a month | No. of accurate final bill executed in a month |
3 | How many invoices and bills are sent to customers through various channels (mail, e-mail etc.) in a month | No. of invoices and bills are sent to customers through various channels (mail, e-mail etc.) in a month |
4 | How many customer account statements are periodically shared with customers | No. of customer account statements periodically shared with customers |
5 | How many reminders of payments and contact customers done in a month | No. of reminders of payments and contact customers done in a month |
6 | How many accounting records with new payments, balances, customer information, etc. are completed in a month | No. of accounting records with new payments, balances, customer information, etc. are completed in a month |
7 | How many questions, and complaints from customers regarding bills are solved in a month | No. of questions, complaints from customers regarding bills are solved in a month |
8 | How many activities are reported to upper management for solutions | No. of activities are reported to upper management for solutions |
Example of KRA VS KPI Mapped in Organisation and Reporting
Sr. No. | Reporting by the employee | Reporting by the employee |
1 | How many account balances and outstanding debts or other inconsistencies cleared in a month | Account balances and outstanding debts or other inconsistencies cleared in a month=25 |
2 | How many accurate final bills are executed in a month | Accurate final bill are executed in a month=15 |
3 | How many invoices and bills are sent to customers through various channels (mail, e-mail etc.) in a month | Invoices and bills are sent to customers through various channels (mail, e-mail etc.) in a month=56 |
4 | How many customer account statements are periodically shared with customers | Customer account statements periodically shared with customers |
5 | How many reminders of payments and contact customers done in a month | Reminders of payments and contact customers done in a month=22 |
6 | How many accounting records with new payments, balances, customer information, etc. are completed in a month | Accounting records with new payments, balances, customer information etc. are comepleted in a month=20 |
7 | How many questions, and complaints from customers regarding bills are solved in a month | Questions, complaints from customers regarding bills are solved in a month |
8 | How many activities are reported to upper management for solutions | Activities are reported to upper management for solutions =5 |
Requirements
Eligibility
After 10th | After 12th | Graduation | Post-Graduation |
The candidate must have appeared in 10 from any recognized educational board. | The Candidate then has to appear for the HSC exam from a recognized board | Interested candidates can undertake a bachelors degree, which is a 3-year degree program | The candidates can also pursue a master’s degree so that they can have a better career opportunity. |
The candidate should try to gain at least a minimum of 50-60% marks to be eligible to enter the Commerce stream | Most Billing Clerks appear in the commerce stream. |
These are some of the better options for a bachelor’s degree | They can pursue a Master’s Degree such as a Master of Commerce (M. Com) or MBA in Accounting or in Finance, which can be up to 2 years |
The candidate should try to gain at least a minimum of 50-60% marks. Then, only they will become eligible for the bachelor’s course | After Graduation, the student can either search for a Job or go for a Master’s Degree | The Candidate must have at least 1 to 2 years of Experience in the sector at a starting position to get a high paying and good position in a reputed organization. |
Best Colleges for Billing Clerks in India
Colleges | Location |
Indian Institute of Management, | Bengaluru |
Indian Institute of Management, | Kozhikode |
National Institute of Securities Markets, | Navi Mumbai |
MICA | Ahmdabadh |
Indian School of Business, | Hyderabad |
Best Colleges For Billing Clerk in Mumbai
Colleges | Location |
Narsee Monjee College of Commerce & Economics, | Mumbai |
K J Somaiya College of Arts and Commerce | Mumbai |
Kishinchand Chellaram College | Mumbai |
Billing Clerk Career Path
Career | Description |
Commercial Accounts Receivable Manager: | The main responsibilities for this role include managing invoices, handling missed payments and supervising Accounts Receivable Clerks. |
Credit Manager: | Credit managers are responsible for overseeing the credit granting process for a company. Their job is to optimize company sales and reduce bad debt losses by maintaining the credit policy. |
Budget Analyst: | Budget Analysts are responsible for analyzing budget proposals that determine fund allocations, and determining budgets for various resources. |
Billing Analyst: | They are required to ensure that bills are accurate and paid on time and that any invoices received are authorized. |
Accounts Payable Clerk: | Accounts Payable Clerks are responsible for receiving, processing, and verifying invoices related to accounts payables. |
Salary
Billing Clerk salary in India ranges between ₹ 1.2 Lakhs to ₹ 15.5 Lakhs with an average annual salary of ₹ 6.5 Lakhs. The Amount may vary through different factors like cities, experience workflow, and workload.
Conclusion
A Billing Clerk has many responsibilities, such as planning the billing, accounts receivable, and collections operations of a department, and will work with many professionals, such as Accountants, to understand what clients are late with billing and how to approach customers as needed. Billing clerks who have good math skills and who stay up to date with technology may have the best advancement prospects and once you have enough experience, you can get better-paying jobs with higher positions.
To get a Detailed Overview of the Accounting Sector, Click Here.
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