Accounts Receivable Specialist

Company Description:

HumanAlpha is a strategic HR advisory and consulting firm specializing in driving growth, enhancing organizational performance, and elevating employee experiences.

Recognized among the top 10 Most Promising HCM Consultants and the esteemed 100 Most Admired Brands of 2020, we offer services ranging from HR Strategy development to Diversity Equity & Inclusion Solutions.

Our client-centric approach ensures tailored services to meet unique organizational needs.

Here's a detailed job description for an Accounts Receivable Specialist:

Job Title: Accounts Receivable Specialist

Department: Finance / Accounting

Job Summary:

- We are seeking a highly organized and detail-oriented Accounts Receivable Specialist to join our finance team.

- The Accounts Receivable Specialist will be responsible for managing all aspects of the accounts receivable process, ensuring timely and accurate invoicing, cash application, and collections.

- This role is critical in maintaining healthy cash flow, reducing outstanding balances, and fostering positive relationships with our clients.

- The ideal candidate will have strong communication skills, a meticulous approach to financial data, and a commitment to accuracy.

Key Responsibilities:

Invoicing & Billing:

- Generate and distribute accurate customer invoices in a timely manner, ensuring adherence to contractual terms and company policies.

- Verify billing data against sales orders, service agreements, and delivery confirmations.

- Address and resolve any invoicing discrepancies or customer queries promptly and professionally.

Cash Application:

- Process and apply incoming payments (checks, ACH, wire transfers, credit card payments) accurately to customer accounts in the accounting system.

- Reconcile daily cash receipts with bank statements and resolve any unapplied cash or payment variances.

- Work closely with the sales and customer service teams to resolve payment identification issues.

Collections:

- Proactively monitor accounts receivable aging reports to identify overdue accounts.

- Execute collection efforts through professional and persistent communication (phone calls, emails) to ensure timely payment from customers.

- Negotiate payment plans when necessary, adhering to company guidelines.

- Document all collection activities and communication meticulously within the system.

- Escalate problematic accounts to management as per established procedures.

Account Reconciliation:

- Perform regular reconciliation of customer accounts, identifying and resolving discrepancies, short payments, deductions, and unapplied credits.

- Collaborate with other departments (e.g., Sales, Operations) to investigate and resolve complex billing or payment issues.

Reporting & Analysis:

- Assist in the preparation of accounts receivable aging reports, bad debt reserves, and other financial analyses as required.

- Provide insights on payment trends and potential risks to management.

Process Improvement & Compliance:

- Identify opportunities to streamline and improve accounts receivable processes for greater efficiency and accuracy.

- Ensure all accounts receivable activities comply with company policies, accounting standards, and regulatory requirements.

- Maintain organized and accurate financial records.

Qualifications:

Education: Bachelor's/Master's degree in Accounting, Finance, Business Administration, or a related field preferred.

Experience: 6-10 years of proven experience as an Accounts Receivable Specialist, Collections Specialist, or in a similar financial role.

- Experience with high-volume invoicing and cash application environments is a plus.

Skills & Competencies:

Financial Acumen: Solid understanding of basic accounting principles, particularly those related to accounts receivable.

Software Proficiency: Proficient in accounting software (e.g., QuickBooks, SAP, Oracle, NetSuite, Dynamics 365 - specify if a particular one is preferred) and strong Microsoft Excel skills (pivot tables, VLOOKUP, data analysis).

Communication:

- Excellent verbal and written communication skills with the ability to interact professionally and persuasively with customers and internal stakeholders.

Attention to Detail:

- Exceptional attention to detail and accuracy in data entry and financial record-keeping.

Problem-Solving:

- Strong analytical and problem-solving abilities to investigate and resolve discrepancies.

Organizational Skills:

- Highly organized with the ability to manage multiple tasks, prioritize effectively, and meet deadlines.

Customer Service Orientation:

- A customer-centric approach, ensuring positive client relationships while diligently pursuing collections.

Proactive & Self-Motivated:

- Ability to work independently and as part of a team, taking initiative to manage tasks and improve processes