Account Receivable

Roles and responsibilities

Ensure the accuracy of customer accounts by reconciling balances and resolving discrepancies.
Oversee the timely and accurate clearing of invoices, ensuring alignment with company policies and customer agreements.
Generate detailed collection reports to track payment statuses and provide insights for strategic decision-making.
Create and distribute accurate customer account statements, ensuring clear communication of account status.
Collaborate closely with the collections team to address payment delays, resolve customer inquiries, and enhance cash flow.
1. Invoicing and Billing:
Creating Invoices: Ensure that invoices are accurately generated based on sales orders or contracts. This includes details such as item descriptions, quantities, pricing, taxes, and total amounts owed.
Sending Invoices: Ensure that invoices are promptly sent to clients either through email, postal services, or through an online payment system.
Invoice Accuracy: Verify that invoices match the terms agreed upon in contracts or purchase orders, ensuring that all data is accurate to avoid disputes or payment delays.
2. Managing Customer Accounts:
Maintaining Accounts: Track customer balances, payments, and outstanding invoices. Maintain accurate records of transactions and monitor changes to customer account details.
Customer Queries: Address any billing-related inquiries or disputes. This may involve clarifying charges, providing payment history, or correcting errors in invoices.
3. Credit Management:
Assessing Credit Risk: For new customers, review their creditworthiness before offering credit terms. This might involve reviewing credit reports or setting up limits on the amount of credit extended.
Setting Credit Terms: Establishing clear payment terms, including due dates, early payment discounts, and late payment penalties.
Credit Limits: Set appropriate credit limits for customers based on their payment history and credit risk.
4. Collections and Payment Follow-up:
Monitor Payment Due Dates: Keep track of all payments due to the business and remind customers of outstanding invoices before or after the due date.
Payment Reminders: Send polite reminders to customers whose payments are overdue. This may involve sending letters, emails, or making phone calls.
Negotiating Payment Terms: Work with customers who may be experiencing financial difficulties to arrange payment plans or extensions if necessary.
Escalation: If payments are not received after several reminders, escalate the issue by involving higher management or a collections agency.

Desired candidate profile

Undergraduate or Fresh Graduate with a bachelor degree in accounting, finance, business administration or relevant fields.
Good English Speaking and Writing
Good knowledge of MS Office Suite (Excel, PowerPoint, Word), and an affinity for data analytics
Experience in Account receivables is preferred.
Strong interpersonal skills to communicate with teams
Experience in SAP would be considered as advantage.
Account Reconciliation:
Reconcile Receivables: Regularly reconcile accounts receivable balances with the general ledger to ensure accuracy. Investigate and resolve any discrepancies or outstanding issues.
Aging Reports: Prepare aging reports that show outstanding balances grouped by the number of days they have been overdue (e.g., 30, 60, 90 days). This helps prioritize collections efforts.
. Reporting and Analysis:
Accounts Receivable Aging Reports: Generate and analyze aging reports to track overdue accounts and identify trends in customer payment behaviors. This helps in making decisions regarding credit policies and collection strategies.
Reporting to Management: Provide regular reports to management on the status of accounts receivable, including collections progress, payment trends, and any outstanding issues.
Forecasting Cash Flow: Work with finance teams to forecast future cash flow based on expected collections and payment patterns.