What are the responsibilities and job description for the AR/Cash & Credit Posting Specialist position at Ambu A/S?
Job Title: AR/Cash & Credit Posting Specialist I (Hybrid)
Reports to: Associate Director, Accounts Payables/Receivables
Location: Columbia, MD (Hybrid)
Position Summary
The AR/Cash & Credit Posting Specialist is responsible for timely and accurate posting of manual and electronic cash receipts, rebate credits and adjustments to customers’ accounts to meet deadlines for the accounting departments and to ensure customer statements reflect accurate payments received. Communicates to Associate Director any issues that may result into daily unapplied payments. Tracks deposits from and to the bank to ensure the General Ledger balances daily. This individual is also responsible for all aspects of collections and account reconciliation for their Canadian account portfolio. The functions include but are not limited to risk assessment, collections and payment, reconciliation, dispute resolution, and monitoring account balances to determine account/ order credit holds.
Job Responsibilities
This position offers a hybrid work schedule combining in-office presence at our Columbia, MD location with remote work flexibility. Relocation assistance will not be provided.
Reports to: Associate Director, Accounts Payables/Receivables
Location: Columbia, MD (Hybrid)
Position Summary
The AR/Cash & Credit Posting Specialist is responsible for timely and accurate posting of manual and electronic cash receipts, rebate credits and adjustments to customers’ accounts to meet deadlines for the accounting departments and to ensure customer statements reflect accurate payments received. Communicates to Associate Director any issues that may result into daily unapplied payments. Tracks deposits from and to the bank to ensure the General Ledger balances daily. This individual is also responsible for all aspects of collections and account reconciliation for their Canadian account portfolio. The functions include but are not limited to risk assessment, collections and payment, reconciliation, dispute resolution, and monitoring account balances to determine account/ order credit holds.
Job Responsibilities
- Assist in adherence to Accounting Department policies and procedures.
- Monitor payments posted to customers’ accounts for accuracy.
- Maintain a daily deposit tracker for all incoming cash receipts.
- Responsible for ensuring that all payments are posted according to the remittance provided by the customer.
- Responsible for contacting customer if remittance information is missing to ensure that monies are not misapplied or unapplied.
- Communicates any Cash Applications issues with the bank to Associate Director in a timely manner.
- Responsible for retrieving daily Lockbox images and reports from the bank.
- Reconcile the daily cash receipts posted balances to daily payments received at the bank and review and resolving and variances.
- Ensure daily cash receipts are posted before the close of business each month for financial reporting.
- Exhibit proactive problem-solving skills with ability to identify running customer issues/discrepancies and provide resolution.
- Researches and identifies complex posting errors, issues, and discrepancies in a timely manner and escalates to Associate Director for resolution as needed.
- Post all adjustments on accounts within approved threshold amounts.
- Monitors accounts receivable balances and utilizes documented process to collect.
- Communicates with key customers to clear receivables, resolve disputes and monitor compliance to credit control procedures.
- Effectively organizes and prioritizes accounts based on amount and days past due and utilizes appropriate form of communication to match urgency level of the account.
- Handle incoming customer calls and/or work department team email inbox to resolve customers request and issues.
- Prepares and communicates customer statements and reports with 100% accuracy.
- Investigate and fully resolve customer payment disputes and billing discrepancies in a timely and professional manner.
- Follow the formal dispute resolution process and seek process improvements as needed.
- Work with internal/external customers and departments to resolve collections issues and keep customer accounts precise and current.
- Meet/Exceed monthly cash targets based on the business needs.
- Perform general accounting clerical duties.
- Prepare weekly status report on collections activity.
- Research and release daily customer order Hold’s due to credit issues as orders come in throughout the day.
- Complete all projects with effective follow through.
- Other duties that are assigned.
- Associates or bachelor’s degree in accounting or related field of study, or equivalent in work experience
- 1-3 years of experience in cash application, credit and collections in a high-volume processing environment is preferred
- Strong working knowledge of Windows-based software applications (Word, Excel)
- Highly organized, detail oriented, with strong initiative and drive
- Ability to analyze and synthesize data
- Experience working with foreign currency (Canadian Dollars and US Dollars management is required for this role)
- Ability to work independent of direct supervision and multi-task effectively
- Ability to work well with others
- Strong organizational skills and ability to prioritize and meet deadlines
- Independent decision-making skills
- Excellent, interpersonal, verbal, and written communication skills
- Strong General Accounting skills
- Positive attitude, enthusiastic and energetic
This position offers a hybrid work schedule combining in-office presence at our Columbia, MD location with remote work flexibility. Relocation assistance will not be provided.