A creditor is a person who is owed money by another person or entity. The role of a creditor's clerk is to perform a number of important administrative tasks and duties relating to the process of repayment and debt calculation.
Creditors make a profit by charging interest on the principal sum. To administrate the process, creditors will often employ a number of staff, including a creditor's clerk.
Tasks performed by a creditor's clerk are likely to include:
- Gathering and organizing documents received by the creditor
- Preparing and invoicing the regular payments that are due to be made to the creditor
- Updating the cash book on a regular (usually daily) basis
- Compiling regular reports for the creditor who is employing them
- Performing accounting and bookkeeping tasks such as preparing balance sheets and income statements
Most creditor's clerks will have professional qualifications that enable them to do their job well. A large number of creditor's clerks are qualified accountants who hold a bachelor's degree in accounting. Others are certified bookkeepers, a qualification that requires the person to pass a four-part examination administered by the American Institute of Professional Bookkeepers.
It is often the case that creditor's clerks are also required to have experience working for accounts payable or accounts receivable departments in the past. They might also be asked by their employers to prove that they are proficient using the accounting and word processing software used by the company. Other desirable qualities for a creditor's clerk are good communication skills and attention to detail.
Creditors make a profit by charging interest on the principal sum. To administrate the process, creditors will often employ a number of staff, including a creditor's clerk.
Tasks performed by a creditor's clerk are likely to include:
- Gathering and organizing documents received by the creditor
- Preparing and invoicing the regular payments that are due to be made to the creditor
- Updating the cash book on a regular (usually daily) basis
- Compiling regular reports for the creditor who is employing them
- Performing accounting and bookkeeping tasks such as preparing balance sheets and income statements
Most creditor's clerks will have professional qualifications that enable them to do their job well. A large number of creditor's clerks are qualified accountants who hold a bachelor's degree in accounting. Others are certified bookkeepers, a qualification that requires the person to pass a four-part examination administered by the American Institute of Professional Bookkeepers.
It is often the case that creditor's clerks are also required to have experience working for accounts payable or accounts receivable departments in the past. They might also be asked by their employers to prove that they are proficient using the accounting and word processing software used by the company. Other desirable qualities for a creditor's clerk are good communication skills and attention to detail.