Summary:
In these roles, you will be part of our Accounts Receivable Team. AR Accountant is responsible for management of accounts assigned by the Accounts Receivable Manager. You will administer portfolios of client relationships and as such will be the primary relationship point between the business and the client and thereby the primary manager of risk. Collect past due payments while exhibiting professional and effective communication skills for optimal outcome. Should possess the ability to swiftly obtain and analyze complex financial data with complete accuracy from multiple available sources. As a part of this process, the role will manage a variety of challenges and obstacles to a successful collection outcome and performance guidelines as directed by management.The primary responsibilities will include Ensure timely and correct booking of all subledger payments received in AR bank account. Have to apply for payments against invoices as per the remittance details provided by the client. Booking adjustments for discounts, refund and cash in advance cases as well as accounting entries for provisions and other entries. Cash Application Analyst handles a variety of tasks related to company finances. They manage the
organization of the company's financial records and oversee the overall cash inflow. They may also
be assigned to handle payment collection, preparation of invoices, and receipts' issuance. They
manage their relationship with their counterparts in client organizations to ensure a harmonious
work relationship. This will help them to follow up for payments, communicate better, and resolve any concerns. Cash application analyst are also in charge of updating client records and ensuring that clients' payments are accurate. They also process refunds and facilitate other financial transactions.
Duties & Responsibilities:
•Reviewing Oracle Invoice Print report or Daily Invoices and updating email address pertaining to the invoicing method in accordance with the customer specification.
•Handling Manual invoicing based on the requests from collectors/stakeholders
•Send and upload invoices daily for all vendors and customers in different portals to ensure timely collections
•Creation of Receipts based on the daily Bank Statements and Application of receivables to Cash Receipts in ERP
•Daily processing of cash receipts and postings to customer accounts, including payments made by credit card, lockbox, ACH and Wire deposits and other adjustments to customer accounts for credits/debits and account write-offs
•Publishing Daily Cash Summary and other reporting
•Processing of Customer Refunds
•Handling AP/AR Offsets
•Complete reconciliations of unmatched payments to ensure proper and timely application
•Maintain documentation for compliance reporting and audits
•Ensure compliance with all policies, procedures and standard business practices, as they pertain to cash application, including internal control procedures and Sarbanes-Oxley regulations
•Ensure compliance with all policies, procedures and standard business practices, as they pertain to cash application, including internal control procedures and Sarbanes-Oxley regulations
•Apply payments and contractual adjustments to accounts in an accurate and timely manner.
•Ensuring month end transactions completed within the deadline to facilitate smooth Month end closure
• Data Analysis and Reporting
• Provide Daily /weekly reporting (metrics recorded) for:
• All past due balances that are 5, 10, and 15 days past due
• All past due balances that are 30, 60, and 90 days past due
• All debit balances beyond 10 days past due and exceeding $50K
• All credit balances aged beyond 30 days
• Ensure that reporting is accurate and detailed
• Log all relevant comments/actions for an account into the accounting system on a timely basis
• Investigate and resolve over and short payments, disputed items, and unapplied payments, working with Accounting when needed Customer Service & Negotiation
• Contact customers regarding debit and credit balances beyond due date
• Call / Email customers to get payment update on past due invoices
• Notify sales of any accounts with ongoing issues leading to potential credit hold status
• Advise management of any concerns regarding potential cash flow issues
• Know when to apprise management and sales to escalate the collection process and prevent holds
• Report immediately to notices regarding EFT returns, check returns, stop payments, etc.
• Communicate and resolve with operations/sales any invoicing transaction failures
• Ownership of front-line collections with knowledge and understand of the appropriate time to escalate to the AR Manager
• Execute Dunning process for highly delinquent customers
Pre-Requisites / Skills / Experience Requirements:
