The Accounts Receivable Manager will maintain and improve sustained cash flow through diligent and aggressive monitoring of customer accounts. This role will direct initiatives to improve working capital, including account monitoring, aligning AR DSO, and ensuring effective and efficient processing of AR functions. This position requires a strong leader with the ability to prioritise, plan and firmly direct the department.
Book Value: 150 – 300 Million – 400 Accounts
- Managing the activities of the staff invoicing, issuing credit, establishing reserves, etc.; including ERP responsibilities for the AR sub-ledger
- Manage day-to-day operations of the AR department; create, implement and maintain policies, procedures and controls, manage and streamline billing and collection process and cash application functions for the company
- Assists in monitoring, tracking and enforcing department policies, procedures and goals while identifying inefficiencies and proposing, developing and documenting new concepts and procedures
- Manage the monthly AR close process including reconciliation of AR sub-ledger to GL and preparation of AR month-end schedules, revenue reporting and reconciliation to GL and metrics used for internal reporting
- Daily review of collection reports to ascertain the status of collections and balances outstanding and reduce collection cycle times (DSO) where possible
- Audit delinquent accounts considered to be uncollectible to ensure maximum efforts have been taken before assigning bad-debt status to the account
- Monitor aging balances and recommend write offs
- Work closely with business unit heads and sales to ensure collection guidelines are adhered to and issues are quickly resolved
- Works with internal departments and clients to regulate and resolve hold/release sales orders in accordance with internal rules and regulations
- Actively monitor and work with internal departments to resolve all outstanding Accounts Receivable claims and chargebacks
- Manage information requests during year-end audits and respond to requests for information during internal audits
- Document trends and initiate corrective action to ensure maximum cash reimbursement, prompt payment for goods sold and uninterrupted cash flow
- Compile data, conduct statistical and analytical studies of billing volume, value billed, payments received, bills outstanding, cash and revenue fluctuations, and prepare regular and special reports for review in planning and evaluating department objectives
- Strong accounting knowledge of Deferred Revenue and unbilled Accounts Receivable
- Work with staff to prioritise work and ensure staff is trained on policy and procedure
- Ensure work is accurate and is being processed in a timely manner and in accordance with department policies and procedures
- Interface with customer care, sales representatives and senior levels management in communicating and resolving issues
- Responsible for review and maintenance of customer database
- Approves, establishes and maintains credit limits on all new and current customer accounts
- Reviews with management creditworthiness decisions on marginal credit approvals and slow-paying accounts
- Lead and mentor accounts receivable staff, providing training and support to enhance their performance
- Special projects and tasks as directed
Qualification / Skills / Knowledge Required
- Grade 12
- Financial Qualification highly advantageous
- 10+ years experience in Accounts Receivable, with a minimum of 5 years in a management position
- Previous working experience within Manufacturing, Engineering or FMCG industry
- Proficiency in the Microsoft Office suite of products, excellent Excel knowledge
- Proven ERP working knowledge
- Strong Understanding accounting principles, accounts receivable processes, and financial reporting
- Excellent verbal and written communication
- Efficient problem-solving and decision-making skills
- Strong managerial and organisational skills; accurate and detail oriented as well as the ability to communicate effectively with staff at various levels
Job Types: Full-time, Permanent
Pay: R65 000,00 - R75 000,00 per month
