- Develop and maintain accounts receivable processes and procedures to ensure efficient and accurate processing of customer invoices, collections, and reconciliations.
- Monitor and analyze accounts receivable metrics to identify areas for improvement and implement process enhancements.
- Ensure compliance with company policies, relevant accounting standards, and regulatory requirements.
Customer Invoicing:
- Ensure timely and accurate creation and issuance of customer invoices, ensuring proper documentation and adherence to contract terms.
- Coordinate with internal stakeholders, such as sales and customer service teams, to resolve any invoicing issues or discrepancies.
Collections and Cash Application:
- Manage the collections process, ensuring timely follow-up on outstanding customer balances.
- Develop and maintain relationships with customers to facilitate prompt payment and resolve any payment disputes.
- Monitor and analyze aging reports to identify delinquent accounts and take appropriate actions.
- Oversee the accurate and timely application of customer payments to their respective accounts.
Credit Management:
- Evaluate and monitor customer creditworthiness, including reviewing credit applications, credit limits, and credit terms.
- Collaborate with sales and finance teams to establish and adjust credit limits based on risk assessment.
- Implement and enforce credit control policies and procedures to minimize bad debt and credit risk exposure..
Account Reconciliation and Reporting:
- Perform regular reconciliations of customer accounts, resolving any discrepancies and ensuring accuracy.
- Monitor and analyze accounts receivable metrics, such as days sales outstanding (DSO), collection effectiveness, and cash flow.
- Monitor and analyze Work in progress and retentions and familiar with revenue recognition under long term contracts.
- Prepare and analyze accounts receivable reports, including aging analysis and cash forecasting.
- Collaborate with GL team and Controllers to ensure accurate and timely financial reporting.
- Prepare balance sheet schedules on a monthly basis
- Review of monthly balance sheet reconciliations and schedules.
- Reconciling dedicated GL accounts, resolving any unreconciled items
- Support the Controller/FOM on P&L variance and balance sheet analysis
- Provide cost reports to internal stakeholders as required
