Description

Job Title: Accounting Assistant- AR

Job Specification:
This Position directly impacts the cash flows of the company through efficient and effective maintenance of the company’s income accounts, to ensure that the following monthly goals are achieved.

• Collections – No less than 90% of the weekly target of outstanding money is collected.
• Aged Receivables -No more than 15% of invoices are overdue for more than 90 days.

A key focus for this position will be ensuring that no less than 90% of the monthly receivables forecast is collected and there are zero annual write off or allowances for bad debts.

Additionally, support will be given to the Finance Manager by efficiently and accurately processing receipts, deposits, customer account reconciliations, and all other accounting processes as required to ensure the effective management of the accounts receivables process and the accounting software.

Responsibilities:

1. Manage and maintain the company's aged receivables by prioritizing the outstanding invoices by age or value, developing a relationship with the debtor’s main accounts payable personnel and initiating contact to all targeted customers daily via phone and/or email, ensuring that the customer’s account does not become negligent (over 90 days).
2. Inform the Accounts Finance Manager & Director of any customer’s account that has reached 90 days, via a detailed excel report weekly, so that the appropriate steps can be taken to ensure that the customer’s account does not pass 90 days overdue.
3. Prepare and present Bi-weekly meeting on Aged receivables and any payments issues and coordinate specific actions from sales to customer to help in recovery of outstanding debt.
4. Meet with negligent customers to discuss payment plans and retrieve outstanding payments.
5.  Collaborate with the finance and sales team to resolve payment discrepancies and provide the necessary supporting documents.
6. Prepare and dispatch collection letters for negligent customers.
7. Ensure that all contact information for the customers’ accounts payable personnel, such as names, phone numbers and email addresses, are accurate and updated as needed on the accounting software to ensure that contact is made directly to the person responsible for payments toward the customer’s account.
8. Prepare and distribute statements to customers via email no later than the 7th working day of each month, so that customers are aware of any outstanding balances due for payment.
9. Reconcile customer ledger accounts no later than the 2nd working day of each month to ensure all information such as outstanding balances and available credits are accurate to prevent any errors/delays in receiving payments.
10. Maintain the cash/cheque collection register updating the file with all received payments ensuring that the information is accurate at all times.
11. Update the accounting software by accurately entering all daily payment receipts as needed. No later than 10am daily.
12. Prepare the weekly deposit.
13. Manage all accounting documents and records, such as customer registration & Credit Application Forms.
14. Assist with documents for the preparation of all end of year financial statements as needed.
15. Prepare and present aged receivables reports, identifying high-risk accounts and proposing remedial actions
16. write offs and allowances for bad debts – Submit a list of possible write offs or allowances for bad debts stating reasons for each so that management can decide on how to proceed Quarterly.
17. To perform any duties which are related to the above as requested by Management

 
Other Key points 

1. Payment trend analysis: Regularly analyze customer payment behaviors to identify potential risks and propose proactive strategies.
2. Internal team training: Train sales teams or other departments on credit policies and collection procedures.
3. Implementation of credit policies: Collaborate with management to establish or revise credit policies and customer credit limits.
4. Monitoring performance indicators: Develop specific KPIs to measure the efficiency of the collection process and share them with management.
5. Dispute management: Oversee the resolution of complex disputes related to payments or invoices.
6. Regulatory compliance: Ensure that collection practices comply with local laws and regulations.

Organizational Skills

1. Ability to organize and prioritize a busy workload to ensure targets are achieved.
2. An ability to work in high volume and fast paced environment.
3. Excellent attention to detail and a very high standard of accuracy when processing receipts and reconciling accounts.
4. The ability to communicate and present information effectively with all levels of internal and external customers verbally and in writing.
5. Ability to multitask and work under pressure to meet tight deadlines.
6. Ability to build customer relationships.
7. Flexible and adaptable, responsive, and positive work attitude
8. Ability to maintain HIGH levels of confidentiality and professionalism
9. High performance on Excel, 365 environment (Teams..) and easy to adapt to usage of IT tools (Sage, Clearnox...)

Qualifications

• Minimum 5 CXC O’level passes (inclusive of Mathematics and English)
• 2-3 years’ experience in a similar position
• ACCA Level I/Accounting Certificate would be an asset

Specific Knowledge

• Working knowledge of accounting software (Quickbooks, Peachtree, Sage)
• Strong working knowledge and proficiency in Microsoft Office (Excel, Word & Outlook)
• Knowledge of accounting rules and procedures (IAS and IFRS)
• Knowledge of Accounts Receivables