Job Description

The Accounts Receivable Officer is charged with the responsibility to manage accounts receivable functions by ensuring timely and accurate recording of customer payments, conducting reconciliations and that outstanding balances are collected within a timely manner. This role is crucial to maintaining a positive cash flow, minimising bad debts, and ensuring the financial stability and success of the business. The Accounts Receivable Officer will work closely with customers, the Accounts team, and other dealership departments to manage billing inquiries, resolve payment issues, and support the overall financial operations.

Key Responsibilities:

Accounts Receivable Management:

1. Analyse and conduct research of aged outstanding receivables to ensure the daily, weekly, and monthly targets are met. In doing so, 100% coverage over the assigned customer accounts must be achieved.
2. Review outstanding aged receivables to ensure each category of receivables are within aging standards especially receivables over 90 days.
3. Analyse customer invoices for vehicle sales, service repairs, parts, and other dealership services to ensure customers are doing business within authorised and agreed terms.
4. Maintain new or existing customer account records, updating customer details such as emails, change of number, credit limits and ensuring accurate information.
5. Escalate significant discrepancies in receivable balances that may be considered irrecoverable or slow moving to the immediate supervisor.
6. Work closely with the sales and parts/service departments to ensure smooth coordination of billing and receivables.

 Reconciliation Duties

1. Perform daily, weekly, and monthly reconciliations of accounts receivable ledgers by
   reviewing the bank transfers, credit card, cash and cheque deposits to ensure all
   information receipted are posted to the correct customer and general ledger account.
2. Timely resolution of any discrepancies noted in the collection or postings and ensuring
   deposits are always posted and current.

Collection Activities

1. Follow up on overdue accounts via phone, email, and written communication for example.
2. Negotiate payment terms commitments with customers regarding past due balances.
3. Coordinate with sales teams to resolve customer disputes and ensure timely payments.
4. Maintain a professional and customer-centric approach when handling collection issues.

Customer Service

1. Provide high-quality service to customers inquiring about their account balances, payment history, and billing issues.
2. Assist customers with payment arrangements and inquiries regarding outstanding balances.
3. Building and maintaining positive and lasting customer relationships.

Reporting and Analysis:

1. Assist in the submission of aging reports for management review, highlighting overdue
   accounts and collections progress. Also, ensuring specific timelines as agreed are met.
2. Provide analysis of delinquent accounts and recommend actions for improvement.
3. Monitor and report on collections performance against targets.
4. Maintain appropriate documentation to track collection improvements month over
   month.
5. Assist in the month-end closing process by ensuring that accounts receivable balances
   are correctly stated in financial statements within the due dates specified.

Compliance and Process Improvement:

1. Ensure that all accounts receivable activities comply with dealership policies and accounting standards.
2. Suggest and implement improvements to processes for more efficient management of receivables and collections.
3. Any other tasks that are assigned by Manager/Supervisor on an adhoc basis.

Qualifications:
 Bachelor’s degree in accounting, finance, or a related field is preferred.
 3+ years of experience in accounts receivable or a similar role, preferably in an
automotive or dealership environment.
 Strong knowledge of accounting principles and practices.
 Experience with accounting software (e.g. industry-specific systems).
 Proficient in Microsoft Excel
 Strong organisational skills and attention to detail.
 Ability to resolve customer concerns in a professional and timely manner.