What are the responsibilities and job description for the AR & Collections Specialist position at MSI Company?
This position reports directly to the Accounts Receivable and Collections Manager and is responsible for the maintenance and collections of the Accounts Receivable portfolio, posting payments, resolving discrepancies, following up on overdue invoices, the handling of AR- related tasks, as well as assisting customers and other stakeholders on any issues associated with Accounts Receivable functions.
Assigned Tasks
- Responsible for daily cash application, including ACHs, Wires and Lockbox Deposits.
- Prepares cash reports, provides details of all daily incoming cash to Management and members of accounting team.
- Verifies all bank deposits against daily cash receipts posted in Quantum.
- Manages cash collections of assigned AR Portfolio, by contacting customers on a regular basis via email or by phone.
- Identifies customers that might represent a high credit risk for the company and provides timely feedback to the AR manager and Department heads.
- Keeps records of collection efforts via notes, emails and any other type of supporting documentation in the ERP.
- Generates and posts manual invoices as needed.
- Provides support to ensure consistency in the department’s day to day operations and compliance with established policies.
- Assists AR Manager and Accounting Team during internal and external audits by obtaining all relevant supporting documentation.
- Reconciles Customer accounts and research payment discrepancies.
- Assists AR Manager during month and quarter-end closings.
- Assist AR Manager in generating AR reports as requested by Management.
- Coordinates the processing of Contras as requested by Customers, Vendors and the Sales Dept.
- Review requests for refunds from customers and submit supporting documents to the AP Dept.
- Runs credit reports and trade references for customer requesting open terms.
Qualifications
- 5 to 7 years’ work experience managing collections for a large Accounts Receivable portfolio
- Associate's degree in Business Administration, Accounting, and/or Accounting related field
- Ability to interpret and implement general business procedures and departmental controls
- Proficient in Excel and other Microsoft Office applications