Description:
The Accounts Receivable Specialist plays a crucial role in managing the financial health of an organization by overseeing the invoicing, payment processing, and collections processes. The primary purpose of this role is to ensure that the company receives timely payments from customers for goods or services rendered, maintaining accurate records of transactions, and fostering positive relationships with clients. They are responsible for reconciling accounts, resolving payment discrepancies, and implementing strategies to minimize outstanding receivables and improve cash flow. Overall, Accounts Receivable Specialists contribute to the organization's profitability and stability by effectively managing the accounts receivable function. Communicate discrepancies to management team, identify slow-paying customers, and recommend collection candidates. Strengthen and grow relationships with clients by communicating with customers regarding past-due accounts. Assist in streamlining and improving the accounts receivable process identifying areas of performance improvement.
Responsibilities:
- Generate and send accurate and timely invoices to customers, ensuring adherence to billing schedules and terms.
- Record all incoming payments accurately and promptly, applying them to the appropriate customer accounts. Monitor and follow up on outstanding balances and past due accounts. Gather and verify invoices for appropriate documentation prior to payment.
- Handle and post incoming payments.
- Reconcile accounts receivable ledger to ensure that all payments are accounted for and properly posted.
- Act as a primary point of contact for customer inquiries and discrepancies related to accounts receivable. Respond promptly and professionally to resolve issues and maintain positive customer relationships.
- Implement collection strategies to minimize outstanding receivables and reduce delinquency. Contact customers to secure payment on overdue accounts, escalating issues as necessary. Working with Collection calls, Credit control (All FS company’s)
- Prepare regular reports on accounts receivable status, including aging analysis, cash flow projections, and collection effectiveness metrics. Provide insights and recommendations to management based on analysis of receivables data. Generating reports and statements for internal use.
- Identify opportunities for process improvements and efficiency gains in the accounts receivable function. Collaborate with cross-functional teams to implement changes and streamline workflows.
- Ensure compliance with company policies, accounting principles, and regulatory requirements related to accounts receivable processes. Be able to assist AR colleagues if lack of resources/sick leaves/vacations.
- Contribute to reaching goals that are set for your department and the company Act in line with the company´s values and policies
- Continuously share info