Overview
This role manages the accounts receivable (AR) process, including billing, collections, and customer relationships. The position supports positive cash flow by reducing outstanding debts and ensuring timely, accurate financial reporting.
Responsibilities
- Generate invoices and statements accurately and on time.
- Verify invoices are complete and comply with company policies and regulatory requirements.
- Maintain organized records of invoices and supporting documentation.
- Develop and implement collection strategies to minimize outstanding debts.
- Follow up with customers on overdue payments, resolve disputes, and negotiate payment arrangements.
- Monitor and report on AR aging and take appropriate action.
- Ensure accurate and timely application of customer payments to the correct accounts.
- Reconcile discrepancies between payments received and invoices issued.
- Assess creditworthiness of new and existing customers.
- Establish and monitor credit limits and terms.
- Recommend adjustments to credit policies based on customer payment history and financial stability.
- Build and maintain strong customer relationships to facilitate timely payments and dispute resolution.
- Provide excellent customer service by promptly addressing inquiries and concerns.
- Prepare and analyze AR reports, including aging reports, cash flow projections, and collections performance.
- Present findings and recommendations to senior management.
- Continuously review and streamline AR processes to improve efficiency and accuracy.
- Identify areas for improvement and implement best practices.
- Ensure compliance with accounting standards, company policies, and relevant laws and regulations.
- Assist in audits and provide documentation as needed.
Requirements
Minimum Qualifications
- Bachelor’s degree in accounting, Finance, or a related field (a master’s degree or professional certification may be preferred).
- Proven experience in accounts receivable management or a related financial role.
- Strong understanding of accounting principles and financial analysis.
- Proficiency in accounting software and MS Excel.
- Excellent communication and negotiation skills.
- Strong attention to detail and high degree of accuracy.
- Ability to work independently and as part of a team.
- Strong problem-solving skills.
Skills and Abilities
- Knowledge of accounting principles and financial analysis to manage AR effectively.
- Ability to identify inaccuracies in invoices, payment records, and financial reports.
- Ability to analyze AR data, including aging reports and cash flow projections, to support informed decisions.
- Strong verbal and written communication skills to interact with customers, team members, and senior management.
- Ability to negotiate payment arrangements, resolve disputes, and communicate effectively to support prompt collections.
- Familiarity with accounting software and financial management tools; proficiency with Microsoft Excel and other relevant software.
- Ability to identify issues within the AR process and develop effective solutions.
- Stay current on relevant laws and regulations related to accounting and collections practices.
- Ability to manage a high-volume workload and meet tight deadlines.
Physical Requirements
- Spend most of the time working at a desk or computer.
- Rely heavily on computers and may spend extended periods sitting while working on a computer.
- Effective communication may involve speaking on the phone or participating in meetings; clear, articulate verbal communication is essential.
- May occasionally need to move around the office to attend meetings or interact with colleagues.
- Good eyesight is important for reading financial documents, invoices, and reports.
- Clear hearing is necessary for effective communication during phone calls, meetings, and discussions.
- Ability to manage stress.