Billing clerks are one of the most integral parts of any company. They are the professionals responsible for generating invoices as well as the credit memos to the respective customers. Billing clerks are often known as financial clerks, posting clerks, and invoicing clerks.
The main job of billing clerks is to create and distribute the invoices to the customers as well as issue them their financial statements. All this work makes a person wonder how much do billing clerks make? And with the amount of responsibility on the shoulder of billing clerks; is the salary justified?
Let’s dissect the salary and basic wages of an average billing clerk in America to determine how much do billing clerks make in the United States of America:
How much do billing clerks make in America?
The pay scale of a billing clerk largely depends upon the experience level of the person. An entry-level billing clerk who has work experience of less than a year is expected to earn somewhere from $14 to $16 per hour based upon 60 basic salaries. This total compensation includes overtime pay, bonuses, and tips as well.
On the other hand, an early career billing clerk who has experience of one to four years will be earning somewhere between $14 to $18 based upon 471 salaries.
The mid-career level billing clerk who possesses experience of five to nine years is said to earn an average compensation ranging from $16 to $20 depending upon 193 salaries. The more the experience the more the earning amount.
What is the average base salary of billing clerks in America?
The average base salary of a billing clerk in the United States of America is $15.77 per hour. This basic salary also includes common benefits which all the employees are liable to get working under the federal government. This makes the average base salary for a billing clerk $35,298 per year. This average base salary is calculated based on 507 salaries.
What is the job description of billing clerks?
The main job of billing clerks is to issue financial statements for the customers and distribute them along with the generation of financial invoices.
Apart from the above-mentioned jobs, a billing clerk is liable to review the financial framework of the other employees of the company. He has to ensure that all the financial tasks of the company are performed and completed effectively and efficiently.
The billing clerks inspect the technical, financial, and operational information of the company to keep them up to date and without any errors. To inspect the operational, technical, and financial information of the company; the billing clerks must know the software dealing with spreadsheets, audit reports, the addition of machinery, and have complete know-how regarding the plans of action in case of any fraud or suspicious activity is disclosed.
The billing clerk must be confident enough to engage in clear, honest, and open conversations with the auditee, regarding the report he has generated while explaining to them the red flags which were noticed or any other suspicious activity which was detected.
The billing clerks are liable to make the “final auditing” which determines the strength and weaknesses of the firm as well as highlights the pros and cons of the performances of the staff. The final audit report also states recommendations according to the workload and work culture of the company.
The position of billing clerk requires a sharp eye! It needs a vigilant person who does not miss even the minutest details along with having amazing organizational skills. An additional and much-needed attribute of the billing clerk is to have exceptionally good communication skills. A single wrong gesture in communication might cost the company a huge chunk of money.
Educational requirement and career path for billing clerks:
The minimum educational requirement for the job of billing clerk is a bachelor’s degree ideally in the field of accounts or any other business-related field. The experience accompanied with the right education makes the person go further ahead in the career path.
A billing clerk is considered the backbone of an organization. With the right amount of education, skills, and experience he can further upgrade his job into three different careers.
A billing clerk can upgrade himself as a billing manager, a billing specialist, or an office manager. All these three jobs require the basic knowledge which the person gains while working as a billing clerk but all three are different altogether.
Skills affecting the pay scale of billing clerks:
The salaries of billing clerks largely depend upon the amount of experience they possess. Apart from work experience, certain skills play a lethal role in determining the salary which the billing clerk will receive. The most popular skills which can uproot a billing clerk’s salary are:
- Reconciliation of the memos and other financial statements
- Data analysis of financial figures
- Intuitional QuickBooks
- Accounting expertise
- Medicare & Medicaid billing knowledge
- Account management of the company employees as well as the customers
- Account receivable knowledge
Benefits received by billing clerks:
There are many benefits which billing clerks receive during their job tenure. The benefits again depend upon their position and experience. Some of the common benefits given to the billing clerks are:
- Health insurance
- Dental insurance
- Vision insurance
- Paid leaves
- 401 (k) plan
- Disability insurance
- Health savings accounts
- Life insurances
- 401(k) matching accounts
- Sick time is paid by the company
- Flexibles amount for spending
- Stock purchase plan devised for the employees
A billing clerk must possess extra sharp intuition and eye to be reliable and accurate while handling the documents and financial accounts. Being exceptionally well in mathematics also increases the chances of promotion as this capability is of great value in today’s organizations. To increase the per hour wage, a billing clerk can get himself acquainted with the latest technology to increase the work performed as well as expedite the work level.