Description:
Responsibilities:Debtors Controller
Responsible for managing the debtor ledger, issuing invoices, following up on overdue accounts, and reconciling payments.
Sales/Support Teams
Provide necessary documentation and support for invoicing and dispute resolution.
Finance Team
Assist with reconciliations and reporting.
Procedures
Opening of Debtor Accounts:
Ensure that all documents are received, and are valid Ensure the BCM Process is followed Credit Approval from CGCI Account to be opened on the System with all statutory information completed
Credit Note Processing:
Ensure credit note documents are completed correctly and signed off by the departmental head No credit note is to be processed without prior approval.
Payment Tracking
Monitor Payments: Regularly check for incoming payments and match them to the corresponding invoices. Reconcile Accounts: Ensure payments are correctly allocated in the accounting system. Update Ledger: Maintain an up-to-date debtor ledger reflecting all payments and outstanding balances.
Follow-Up on Overdue Accounts
Aging Report: Generate an aging report to identify overdue accounts. First Reminder: Send a polite reminder email or letter to customers with overdue payments Second Reminder: Escalate with a more formal reminder if payment is not received Phone Follow-Up: Contact the customer directly to discuss overdue payments and agree on a payment plan if necessary. Final Notice: Issue a final demand letter if payment is still not received
Dispute Resolution
Identify Disputes: Investigate any disputes or discrepancies raised by customers. Collaborate with Teams: Work with sales, support, or logistics teams to resolve issues. Adjust Invoices: Issue credit notes or adjust invoices as necessary. Communicate Resolution: Inform the customer of the resolution and confirm payment terms. Bad Debt Management Identify Bad Debts: Flag accounts that are unlikely to be paid (e.g., 90+ days overdue). Write-Off Approval: Seek approval from management to write off bad debts. Record Write-Offs: Update the accounting system to reflect the write-off. Monitor Recovery: Continue to monitor written-off accounts for potential recovery.
Reporting
Daily/Weekly Reports: Prepare reports on outstanding debtors, payments received, and overdue accounts. Monthly Reconciliation: Reconcile the debtor ledger with the general ledger. Management R
05 Mar 2025;
from:
gumtree.co.za