Accounts Receivable Analyst

Lactalis American Group - Chicago, IL

Full-time - Entry Level

Chicago, IL

10,001+ employees

Food Manufacturing

About the position

Lactalis Heritage Dairy is currently seeking an Accounts Receivable Analyst to join our team in Chicago. As a part of the Accounting & Finance department, this role is crucial for managing the timely and accurate collection of customer receivables for the company. The ideal candidate will be responsible for the collection, processing, and reconciliation of outstanding receivables, which includes invoices, trade and non-trade deductions, and unapplied credits across a defined portfolio of accounts. This position supports the company's objectives by building relationships with customers, working cross-functionally with various departments, and monitoring and reporting on key performance indicators. The A/R Analyst will monitor the accurate and timely generation of customer invoices, ensuring compliance with established billing policies and procedures. This includes reviewing and verifying the accuracy of invoices and other billing documents. The role requires maintaining consistent communication with customer contacts to ensure prompt payment and resolve any outstanding payment issues. Additionally, the analyst will be responsible for the resolution of all assigned customer deductions, including both trade and non-trade, and will reconcile assigned customer accounts to identify and address discrepancies or variances. Collaboration with cross-functional teams, including Customer Service, Sales (Trade), and Supply Chain Operations (Non-Trade), is essential to resolve customer billing inquiries and disputes. The analyst will also prepare and maintain accounts receivable reporting, including aging analysis and collection forecasts, while monitoring and tracking customer payment trends to identify potential risks and opportunities for process improvement. The role may also involve assisting with month-end and year-end closing activities, supporting internal and external audits, and completing periodic ad-hoc assignments or tasks as needed. Staying up to date with industry best practices and regulations related to accounts receivable and billing is also a key responsibility.

Responsibilities

• Monitor the accurate and timely generation of customer invoices, ensuring compliance with established billing policies and procedures.
• Review and verify the accuracy of invoices and other billing documents.
• Maintain consistent communication with contact(s) at customer to ensure prompt payment and resolve any outstanding payment issues.
• Resolution of all assigned customer deductions, including Trade and Non-Trade.
• Reconciliation of assigned customer accounts to identify and address discrepancies or variances.
• Collaborate with cross-functional teams, including Customer Service, Sales (Trade), and Supply Chain Operations (Non-Trade), to resolve customer billing inquiries and disputes.
• Investigate and resolve customer inquiries related to billing discrepancies or account issues.
• Prepare and maintain accounts receivable reporting, including aging analysis and collection forecasts.
• Monitor and track customer payment trends, identifying potential risks and opportunities for process improvement.
• Assist with month-end and year-end closing activities as needed, ensuring accurate revenue recognition and financial reporting.
• Support internal and external audits by providing documentation and responding to inquiries.
• Complete periodic ad-hoc assignments or tasks as assigned.

Requirements

• Associates degree or equivalent experience required.
• Bachelors degree in Accounting, Finance, or a related field, preferred.
• Proven experience in accounts receivable, billing, or a similar finance role.
• Experience in the Food Industry preferred.
• Excellent analytical and problem-solving skills, with a keen eye for detail.
• Effective communication and interpersonal skills to interact with customers and internal stakeholders.
• Ability to prioritize and manage multiple tasks in a deadline-driven environment.
• Strong organizational skills and the ability to maintain accurate and up-to-date records.
• Proficiency in using Microsoft Office applications, particularly Excel.
• Experience working with enterprise resource planning (ERP) systems, preferably SAP.
• Familiarity with automated billing systems and tools.
• Knowledge of customer relationship management (CRM) software.