Accounts Receivable Collection

Role & responsibilities

Payment Collection:

Proactively contact customers to facilitate the payment of outstanding invoices.

Bank Receipt Entry:

Accurately record and allocate incoming payments within the company's financial system.

Ledger Reconciliation:

Reconcile customer accounts, ensuring accuracy and resolving discrepancies.

Bill-to-Bill Reconciliation:

Perform bill-to-bill reconciliation to ensure payments align with invoices and credit notes.

Credit Note Processing:

Process credit notes for approved returns, refunds, or adjustments to customer accounts.

Maintain a systematic record of credit notes issued.

Litigation Management:

Handle accounts receivable-related litigation matters, including document preparation.

Attend court hearings as required.

Invoice Verification and Reconciliation (E-way or e-invoice):

Verify and reconcile invoices with E-way or e-invoice documentation.

Non-Funded Facility Compliances:

Ensure compliance with non-funded facility transactions, including Letter of Credit (LC) and Bank Guarantee (BG) transactions.

GST Query Resolution:

Address and resolve GST-related queries and concerns from customers.

Purchase Order (PO) Approval:

Review and approve customer purchase orders in compliance with company policies.

Management Information System (MIS):

Generate regular MIS reports to provide insights into accounts receivable performance.

Key Performance Indicators (KPIs):

• Days Sales Outstanding (DSO):

• Maintain or reduce DSO to ensure timely payment collection.

• Cash Application Accuracy:

• Achieve a high level of accuracy in bank receipt entry and allocation.

• Reconciliation Accuracy:

• Minimize reconciliation discrepancies through accurate ledger reconciliation.

• Credit Note Processing Turnaround:

• Process credit notes efficiently to minimize delays in customer refunds or adjustments.

• Litigation Resolution Time:

• Ensure timely resolution of litigation matters and court attendance when required.

• Invoice Reconciliation Rate:

• Achieve a high rate of invoice reconciliation with E-way or e-invoice documentation.

• Compliance Adherence:

• Ensure adherence to non-funded facility compliance requirements, including LB BG transactions.

• GST Query Resolution Rate:

• Resolve GST-related queries promptly to maintain customer satisfaction.

• PO Approval Timeliness:

• Review and approve customer purchase orders within defined timelines.

• MIS Report Accuracy:

• Generate accurate MIS reports as per scheduled timelines.

Preferred candidate profile

JOB SPECIFICATION

Designation: Account Executive (SAP B1 Module experience)

Department: Finance & Accounts

Experience: 4 to 5 Years

Salary Range: 3 to 5 LPA

Qualification: Graduate + PG Degree will be added as an advantage

Reporting to Finance & Accounts Head

Location: Kanjurmarg

Note: Experience must be either from Manufacturing/ Service industry. (Manufacturing Industry will be preferable)

JOB ROLE

Main Job Tasks, Duties, and Responsibilities

RESPONSIBLE FOR OVERALLACCOUNTS RECEIVABLE-RELATED ACTIVITIES

The Accounts Receivable Specialist is responsible for overseeing various aspects of the accounts receivable function, including payment collection, bank receipt entry, ledger reconciliation, credit note processing, litigation management, invoice verification, reconciliation with E-way or e-invoice, non-funded facility compliances, GST query resolution, customer purchase order (PO) approval, and generating management information system (MIS) reports.