Job Seeker
B.Com/CA, with 10-12 years of exp, as a Credit Control, at a Manufacturing Co., Chennai

Manufacturing Co.

year_icon   3 - 10 Years

year_icon   0.0 Lacs - 0.0 Lacs

year_icon    Kolkata

year_icon   Manufacturing

year_icon    Commerce Graduate, Chartered Accountant

21 Oct 2021

Job description

JOB DESCRIPTION

 

Job Title: Accounts Receivable-Head

Reports to: 

 

  1. JOB PURPOSE

 

 Summarise in one statement why this job exists; and how it contributes to the overall mission/objective of the   organisation.

 

The role of Accounts Receivable Officer for the company is to manage the entire receivable’s function, develop the strategic plans, set objectives and policies for the function in alignment with the overall accounting function’s goals. He will ensure accurate and timely collections and oversee customer relationship management. He will also be responsible in developing the team for account receivable’s function and design their performance indicators.

 

  1. ORGANISATIONAL CHART

       (Only Job Titles)

 

 

A screenshot of a computer

Description automatically generated with medium confidence

 

3.    PRINCIPLE ACCOUNTABILITIES

List the expected end results that must be achieved in order to fulfil your job purpose and the activities that help in achieving these results

 

Key areas of accountability

MAJOR ACTIVITIES

  1. Lead customer on-boarding
  • Manage new customer/dealer addition – monitor documents, seek necessary approvals and coordinate for new customer code creation
  • Ensure that the company’s standard template regarding new customer addition, invoicing, collections, and refund management is in place for every customer with proper customer code
  • Ensure timely creation of codes
  • Make recommendations to improve quality of customer addition process
  1. Streamline invoicing process
  • Handle a broad scope of internal processes related to green channel invoicing and non-green channel invoicing
  • Help address any roadblocks in full-scale green channel invoicing implementation
  • Monitor overall invoicing process
  1. Manage overall collections
  • Manage overall collections with accurate adjustments for advance receipts/ security deposits/ refunds/ fine
  • Ensure timely issuance of delivery challans and vouchers
  • Take necessary steps in recovering missed payments
  • Monitor NSF checks and maintain all records pertaining to NSF checks
  • Manage periodic reconciliation of accounts with banks, dealers/customer ledgers and on-time updation of RTGS payments
  • Convince customers to adopt RTGS payment method
  • Oversee cheque postings, management of collections, reconciliation, adherence to debtor’s policies, and month-end-closing
  • Make recommendations to improve quality collection procedures
  • Review receivables and proactively manage the collection process for all types of dealers/customers
  1. Lead credit/debit note and refund management
  • Manage overall debit/credit note and UAC process right from creation to seeking approval
  • Enter debits/credits, and resolves billing/payment discrepancies
  • Liaise with appropriate parties to ensure timely posting of necessary transactions
  • Ensure timely processing of discounts, credit notes and refunds
  • Make recommendations to improve quality of CN/DN and refund management
  1. Maintain customer ledger and ensure timely reconciliation
  • Create, maintain, and review accounts receivables report, records of invoices, bills and deposits and other relevant documents including overall master data
  • Check numbers, postings and documents for correct entry, accuracy, and proper allocations and ensure adherence to billing cycle
  1. Manage customer relationships - lead customer query management
  • Manage customer/dealer complaints or queries and ensure timely resolution

 

  1. Oversee risk management and compliance adherence
  • Ensure that the overall function operates in alignment with the relevant legal and accounting policy requirements and ensure that all necessary documentation is in place   
  • Ensure compliance with statutory and regulatory rules in conjunction with Corporate Finance function
  • Ensure timely preparation and release of various financial reports by building strong accounting processes
  • Stay updated on industry and legislative changes

 

 

4.    MAJOR CHALLENGES

Describe the major challenges you face in carrying out your job, and what you do in order to overcome them.

 

  • Understanding and managing specific needs of multiple customers/ dealers in terms of portfolio, payment cycle management, credit note management etc.
  • Overall query management

 

5.    KEY INTERACTIONS

Who (internal/external) does this position interact with on a regular basis to perform this role? How often and for what purpose?

 

Internal

External

  • Regional Finance Head
  • SBU / Sales team members
  • Direct reports & employees (on-roll & off-roll)
  • Other accounting functions
  • Customers / Dealers
  • Bank representatives
  • 3rd party agencies

 

6.    KEY PERFORMANCE INDICATORS (KPI)

List the KPI which will reflect the scope and scale of activities concerning your job.

                    (These should be quantifiable numerical amounts)

 

Area

KPI

UoM

Definition/ Remark

Customer on-boarding

TAT for new customer addition

Hours/Days

Time taken from receipt of documents to creation of new customer code

Collection management

Accounts receivable turnover ratio

#

Net credit sales/average accounts receivable

Collection effectiveness index

#

CEI= (Beginning receivables + Monthly credit sales – Ending total receivables) / (Beginning receivables + Monthly credit sales – Ending current receivables) x 100

RTGS ratio

#

Number of invoices having RTGS payments as a % of overall invoices generated

CN/DN management

Average time taken to generate credit (or debit) note

Hours/Days

Average time to create the relevant credit / debit note in SAP

Customer query resolution

Average time spent in resolving customer/ dealer queries related to discounts

Hours/Days

% of total time spent in addressing customer queries related to discounts

 

Average time spent in resolving customer/ dealer queries related to credit/debit note

Hours/Days

% of total time spent in addressing customer queries related to credit/debit note

 

Average time spent in resolving cross functional queries

Hours/Days

% of total time spent in addressing cross functional queries

 

Rate of dealer complaints due to erroneous invoices/entries

%

Dealer complaints arising due to errors in invoicing / entry

 

7.      SKILLS AND KNOWLEDGE

                    State the minimum acceptable proficiency for this job. Do not state incumbent-specific information

 

EDUCATIONAL QUALIFICATIONS

  • Bachelor’s degree in Accounting or Finance
  • Any other relevant degree in Accounting or Business-related fields

RELEVANT EXPERIENCE

  • Proven work experience as an Accounts Receivable Manager or Supervisor
  • Hands-on experience with accounting software; good knowledge in spreadsheets and MS Excel, SAP
  • Excellent analytical skills along with the ability to create and present detailed reports
  • Ability to accurately process numerical data
  • Proficient in using all different types of office equipment and basic computer operation

PERSONAL CHARACTERISTICS AND BEHAVIOURS

 

  • Good managerial skills with the ability to work with a diverse group of people and in a team environment
  • Ability to manage a team of accounting employees including recruiting, hiring, and monitoring daily workflow
  • Problem solving attitude with decision making capabilities and strong negotiation skills
  • Excellent written and verbal communication skills

Posted by: Admin