Job description for Deduction Analyst
The AR Collections and Deduction Analyst position is responsible for resolving deductions and reconciling the accounts timely.
Tasks, Duties, & General Responsibilities:
- Contact customers to exert every possible effort to secure payment on invalid deductions.
- Research and resolve customer deductions; coordinate with business partners to resolve contested items, recommend appropriate action for item handling. Either issue credit or contact customer to collect unauthorized deductions. (Off invoice and short payments)
- Review all deductions taken from customer payments, review remittance information to determine the reason for deduction.
- Review all documents supporting the customer claims, including purchase order copies, proof of delivery and invoices.
- Dispute all claims including shortages, pricing deductions, and violations; disputes are completed via web portal or via email.
- Retrieve data from customer web portals.
- Contact customers via emails/Calls to resolve pending deductions.
- Document all actions taken in ERP system so last action taken is readily available.
- Identify and implement areas for process improvement with will reduce customer deductions.
- Escalate issues to the supervisor/manager that require intervention/clarification from senior leadership.
- Research/Resolve customer short ship deduction (Returns, shortages, overages, etc. ).
- Maintain aging reports and perform activities to resolve open receivables.
- Perform month end close activities and meet accounting close deadlines.
- Create and analyze weekly reports for internal and audit review.
- Identify root causes of problems affecting payment of invoices, by analyzing relevant information and clearly communicating and collaborating internally and with customers to resolve root cause issues to prevent a reoccurring.
- Identify and resolve billing discrepancies (off invoice and short payments)
- Identify, report, and present trends in a customer s deductions.
Qualifications
- Experience in Collections and Deductions. At least 5-7 plus years in similar profile.
- Master's preferred but not mandatory. Must have bachelor's degree in commerce/accounting/Finance.
- Working knowledge of SAP, a must
- FSCM Software application experience a plus.
- Extremely organized, detailed, and proactive.
- Analytical, tenacious, and great at research, follow-through & follow-up.
- Proficient in Excel (V-Lookups, Tables, Formulas and Pivot Tables) and other Office tools.
- Domain Knowledge: Collections, deduction management, disputes settlement.
- Excellent oral and written communication skills are required, the ability to interact and collaborate with internal and external customers at all levels of management and staff globally.
- Knowledge of all Microsoft Office Products specifically Outlook, Excel, PowerPoint, and Word.
- Must be assertive to follow up on resolving issues.
