Accounts Receivable Executive

Job Profile:

The Accounts Receivable Executive will be responsible for maintaining and managing the company’s receivable accounts, ensuring that clients make timely payments, and resolving any billing-related queries. This role will focus on ensuring the accuracy of invoicing, handling customer payment issues, and reconciling financial records, contributing to the organization’s financial health.

Key Responsibilities:

1. Invoicing and Billing:

• Prepare and send accurate customer invoices in a timely manner.
• Ensure correct application of pricing, discounts, and taxes.
• Maintain updated customer records related to billing and invoicing.

2. Payment Tracking and Collection:

• Monitor outstanding receivables and ensure timely collection of payments.
• Follow up on overdue payments through phone calls, emails, and written communication.
• Coordinate with customers regarding payment discrepancies or issues.

3. Reconciliation:

• Perform periodic reconciliations of customer accounts to ensure accuracy of records.
• Investigate and resolve any discrepancies in payments or billing issues.
• Prepare monthly aging reports and review outstanding balances.

4. Cash Application:

• Post customer payments to the appropriate accounts.
• Record and allocate payments accurately to invoices.
• Manage unallocated payments and ensure they are resolved promptly.

5. Credit Control:

• Assess customer creditworthiness and set appropriate credit limits.
• Work with the finance team to analyze and approve new credit requests.
• Monitor credit limits and adjust them as necessary based on customer payment behavior.

6. Reporting:

• Prepare and maintain various financial reports, including accounts receivable aging reports, cash flow forecasts, and collection summaries.
• Assist with month-end closing by providing reports and reconciling receivable accounts.

7. Customer Interaction:

• Respond to customer inquiries regarding invoices, payments, and account balances.
• Provide excellent customer service to resolve billing issues or disputes.
• Build and maintain strong relationships with clients to facilitate timely collections.

8. Compliance:

• Ensure compliance with company policies, accounting regulations, and tax requirements.
• Maintain accurate documentation and audit trails for all receivable transactions.

9. Process Improvement:

• Identify areas for process improvement and work to streamline the invoicing and collection processes.
• Collaborate with other departments, such as sales and customer service, to address issues impacting accounts receivable.

Key Skills and Qualifications:

• Bachelor’s degree in accounting, Finance, or a related field.
• Proven experience in accounts receivable or general accounting.
• Strong knowledge of accounting principles and procedures.
• Proficiency in accounting software (e.g., Tally, Zoho) and MS Excel.
• Excellent communication and negotiation skills.
• Strong attention to detail and accuracy in data entry and financial analysis.
• Ability to handle sensitive information confidentially.
• Problem-solving skills and ability to work under pressure.