Finance Executive - Accounts Receivable

Job Scope:

As a Finance Executive specializing in Accounts Receivable at the hotel, your primary responsibility is to oversee the timely collection of outstanding receivables, manage customer accounts, and ensure accurate recording of revenue transactions. You will work to minimize bad debts, improve cash flow, and maintain positive relationships with customers.

Main Duties and Responsibilities:

• Invoicing and Billing:
• Generate and distribute customer invoices, statements, and billing reminders accurately and in a timely manner.
• Verify invoice accuracy, terms, and payment due dates to facilitate prompt payment processing.
• Credit Control and Collections:
• Monitor customer accounts, aging reports, and outstanding balances to identify overdue payments and initiate collection efforts.
• Contact customers via phone, email, or mail to follow up on outstanding invoices, resolve payment discrepancies, and negotiate payment arrangements.
• Cash Application:
• Record and reconcile customer payments, credits, and adjustments to ensure accurate application to customer accounts.
• Investigate and resolve discrepancies between payments received and invoiced amounts to maintain accurate receivables records.
• Customer Relations:
• Maintain positive relationships with customers, respond to inquiries, and address billing-related concerns in a professional and timely manner.
• Collaborate with sales, customer service, and finance teams to address customer payment issues and improve collections processes.
• Account Reconciliation:
• Reconcile accounts receivable transactions, aging reports, and customer statements to ensure completeness and accuracy of receivables balances.
• Investigate and resolve discrepancies, unapplied payments, and credit balances through thorough analysis and communication with stakeholders.
• Reporting and Analysis:
• Generate accounts receivable reports, aging analyses, and collection forecasts to track receivables performance and cash flow projections.
• Provide insights, variance analyses, and recommendations to management on receivables trends, bad debt risks, and collection strategies.
• Process Improvement:
• Identify opportunities for process enhancements, automation, and efficiency improvements in accounts receivable workflows and collections procedures.
• Implement best practices, credit policies, and collection strategies to optimize cash flow, reduce DSO, and enhance receivables management.