Accounts Receivable & Collections Specialist

Affinity Executive Search - Elk Grove, CA

Full-time

Elk Grove, CA

Administrative and Support Services

About the position

The Accounts Receivable & Collections Specialist will play a crucial role in the financial operations of the company, focusing on the review and coding of financial information. This position requires a thorough understanding of accounting principles and practices, as the specialist will be responsible for preparing and processing documents to disburse funds, ensuring accuracy in financial records, and maintaining comprehensive documentation. The role involves close collaboration with the finance and accounting department, as well as other internal departments, to facilitate smooth financial operations. In addition to the core responsibilities of accounts receivable management, the specialist will assist with inventory performance evaluations, the end-of-month financial processes, and financial reporting. This multifaceted role demands proficiency in accounting software and advanced Excel skills, as the specialist will utilize spreadsheets and automated accounting systems to perform their duties effectively. The position is designed for individuals who are detail-oriented, possess strong analytical skills, and can work efficiently in a fast-paced environment. The ideal candidate will have a solid educational background in accounting or finance, along with relevant work experience in accounting roles. The specialist will be expected to handle customer credit applications, resolve discrepancies, and ensure timely collections of receivables. This position is integral to maintaining the financial health of the organization and requires a proactive approach to problem-solving and communication with both customers and internal teams.

Responsibilities

• Responsible for processing all the accounts receivable tasks following the established deadlines and guidelines.
• Processes customer credit applications for approvals.
• Provides customer service regarding collection issues, resolves customer discrepancies, and short payments and ensures that receivables are collected promptly.
• Effectively identify and resolve customer issues preventing timely payment, which may include research within multiple systems/tools, examining historical data and payment history, collaborating with internal partners, and/or escalating within customer or client management.
• Weekly phone calls or emails to delinquent customers in a fast-paced goal-oriented collections department.
• Review customer accounts and apply credit policy to release or hold orders.
• Process daily treasury deposit and slips, AR cash applications.
• Maintains solid recordkeeping of notes relating to all collection efforts, including calls and letters sent to customers.
• Enlists the efforts of sales and senior management when necessary to accelerate the collection process.
• Must communicate & follow up effectively with sales/service departments regarding customer accounts on a timely basis.
• Works with the Promotions Accounting Representative to reconcile customer allowances related to bill backs, promotional grocery discounts, spoilage, marketing, and other charges.
• Maintains billback and allowance spreadsheets in conjunction with Sales and Marketing Department.
• Processes Monthly Broker and End User Commissions including payment request to AP.
• Coordination of input of promotional calendar with Sales Team.
• Coordinate year end promotional balance with finance department.
• Maintain and balance AR by verifying, allocating, posting, reconciling transactions, & resolving discrepancies.
• Reconcile the 3-way matching AR process.
• Assist on inventory adjustments, Inventory cycle counts, and end of the month Inventory counts and reconciliations working closely to related parties to resolve any inventory discrepancies.
• Assisting with Accounts Payable duties such as 3-way billing matching and expense recognition postings.
• Protect organization's value by keeping information confidential.
• Post journal entries related to all AR adjustments.
• Assist with all tasks related to the end of the month process.
• Manages remote checks deposit and clearing procedures.
• Assisting with front office door and phones.
• Other duties / special projects as assigned.

Requirements

• Bachelor of Science in Accounting, Finance, or related field or Associate degree in accounting with a minimum of 4 years of accounting working experience.
• Must have a minimum of 2 years experience using any accounting software or other related system.
• Must have knowledge of Finance and accounting principles and practices.
• Must be proficient in MS Office with advanced Excel modeling skills.