Summary
The Accounts Payable Officer is responsible for the collection of payments from clients on behalf of the company. They will also supervise a team of clerks and oversee the timely and accurate invoicing of customers and the handling of overdue payments according to the company’s policies.
Key Responsibilities
- Supervises and coordinates work schedules, daily activities, and training for Accounts Receivable assistants to ensure quality output, timely collection of payments, and compliance with group policies and practices
- Monitors and maintains Accounts Receivable based systems to ensure effectiveness of daily activities as well as compliance with group policies and standards
- Conducting credit checks on new and potential customers
- Implementing debt collection policies and regulations of the company
- Implementing deadlines for invoicing and payment collection
- Monitoring the invoicing and money collection processes
- Ensuring the timely collection of payments
- Negotiating with customers in cases when non-payment occurs
- Preparing monthly feedback reports on payment collections
- Manage the reconciliation of group customer accounts and ensuring that payments are received on-time
- Keeping records of invoices, deposits, and all correspondence regarding payment collection
- Remaining informed of any legislative procedural training regarding debt collection
- Training and mentoring of staff members in the department
- Participate in internal and external audits. Work with Management to monitor controls and compliance
- Prepare ad hoc and ongoing reports while consistently evaluating and recommending improved reporting needs
- Reconcile sub ledger account activity to general ledger
- Closes out months in accordance with accounting calendar. Performs proper cut-off procedures based
- Reconciling customer accounts as necessary and follow up on all queries within the assigned timeframe
- Assist with the budgeting process as it relates to receivables, collections and intercompany
- To assist with any finance related projects as they arise
- To perform any duties which may be related but not limited to the above as requested by Management
