Job Description

Overview

We are seeking a detail-oriented and experienced Senior Accounts Receivable professional to join our finance team. This role is critical in managing the accounts receivable process, ensuring timely collections, and maintaining accurate financial records. The ideal candidate will possess strong analytical skills, a solid understanding of accounting principles, and proficiency in various accounting software. This position requires a proactive approach to problem-solving and excellent communication skills to foster positive relationships with clients.

Responsibilities

Invoice and Payment Management

Generate and send invoices to customers in a timely manner, ensuring accuracy in billing details (e.g., amounts, terms, and dates).

2. Accounts Receivable Reporting

Maintain accurate records of all accounts receivable transactions, including aging reports and payment history. Prepare and present regular accounts receivable reports to management, highlighting overdue accounts and potential cash flow issues. Ensure that accounts are reconciled and discrepancies are addressed.

3. Customer Communication and Relationship Management

Contact customers regarding overdue accounts, utilizing phone, email, or written communication. Develop and maintain positive relationships with clients to facilitate smooth payment collection. Negotiate payment terms and arrangements in line with company policies.

4. Credit Management

Assess and monitor the creditworthiness of new and existing customers. Work with the credit department to establish appropriate credit limits and payment terms for customers. Flag high-risk customers and prioritize collection efforts accordingly.

5. Collection of Outstanding Payments

Initiate and follow up on collection efforts for overdue accounts, aiming to reduce the number of bad debts. Coordinate with external collection agencies or legal teams when required. Ensure that accounts are managed effectively to minimize overdue payments.

6. O2C Process Management (Order to Cash)

Oversee the full Order to Cash (O2C) process, ensuring a seamless transition from order entry to cash receipt. Collaborate with the sales and order management teams to ensure timely and accurate order processing. Ensure proper invoicing and payment terms are communicated to customers and executed in line with the sales contracts. Monitor and optimize cash flow within the O2C process by reducing delays and resolving bottlenecks.

7. Dispute and Issue Resolution

Investigate and resolve any billing or payment issues in collaboration with internal departments (e.g., sales, customer service). Work to find amicable resolutions to disputes while protecting the company's financial interests. Record and report the nature of disputes and resolutions for future reference and process improvements.

8. Cash Application and Reconciliation

Apply customer payments promptly to the appropriate accounts and invoices. Ensure all transactions are accurately recorded in the accounting system. Perform regular reconciliations of accounts receivable balances and ensure discrepancies are addressed.

9. Process Improvement and Compliance

Identify opportunities to streamline and improve accounts receivable processes for better efficiency and quicker cash flow. Ensure compliance with company policies, industry regulations, and legal requirements related to collections and credit management. Stay updated with changes in payment technologies, accounting standards, and legal requirements to ensure best practices in receivables management.

10. Collaboration with Internal Teams

Collaborate closely with the sales, finance, and customer service teams to resolve billing issues and improve payment processes. Assist the finance team in month-end and year-end closing activities by providing accurate receivable reports and payment data.

11. Performance Monitoring and KPIs

Monitor key performance indicators (KPIs) such as Days Sales Outstanding (DSO), aging report status, and collection effectiveness. Report performance against targets to senior management, identifying areas for improvement. Monitor and record incoming payments against open invoices. Ensure that payments are applied correctly to customer accounts. Handle customer payment queries and disputes, ensuring prompt resolution.
Job Type: Full-time

Pay: ?23,000.00 - ?33,000.00 per month

Ability to Commute:

Hamlet, NC 28345 (Required)
Ability to Relocate:

* Hamlet, NC 28345: Relocate before starting work (Required)