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, Illinois. As a part of the Accounting & Finance department, this full-time position will report directly to the Manager of Collection & Trade. The Accounts Receivable Analyst will play a crucial role in managing the timely and accurate collection of customer receivables for the company. This position is essential in supporting the company's objectives by building strong relationships with customers and collaborating cross-functionally with various departments. 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. In this role, the Accounts Receivable Analyst will monitor the accurate and timely generation of customer invoices, ensuring compliance with established billing policies and procedures. The analyst will review and verify the accuracy of invoices and other billing documents, maintaining consistent communication with customer contacts to ensure prompt payment and resolve any outstanding payment issues. Additionally, the analyst will be tasked with 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 is key in this position, as the Accounts Receivable Analyst will work closely with cross-functional teams, including Customer Service, Sales (Trade), and Supply Chain Operations (Non-Trade), 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. Furthermore, the analyst will assist with month-end and year-end closing activities, ensuring accurate revenue recognition and financial reporting, and will support internal and external audits by providing necessary documentation and responding to inquiries. The role may also involve periodic ad-hoc assignments or tasks as needed, and staying up to date with industry best practices and regulations related to accounts receivable and billing is essential.

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.
• Periodic ad-hoc assignments or tasks.
• Stay up to date with industry best practices and regulations related to accounts receivable and billing.

Requirements

• Associates degree or equivalent experience required.
• Bachelor's 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.