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Accounts Receivable Manager

EmployHQ

  • Elkin, NC
  • 3 days ago

    Highlights

    Maintain accurate customer account records and ensure all collection activity is properly documented; reconcile the accounts receivable subledger to the general ledger and investigate discrepancies; support monthly, quarterly, and year-end financial closing activities. Ensure customer invoices, credits, adjustments, and payments are recorded accurately and promptly; review daily cash receipts and confirm that payments are correctly applied to customer accounts and invoices.

    Numbers & Facts

    LocationElkin, NC

    Description

    The Accounts Receivable Manager is responsible for overseeing the Company’s accounts receivable, credit, collections, cash application, customer deductions, chargebacks, and factoring activities.

    Key Responsibilities:
    • Direct and oversee all accounts receivable functions, including invoicing, cash application, collections, account reconciliation, deductions, credit balances, and customer inquiries.
    • Ensure customer invoices, credits, adjustments, and payments are recorded accurately and promptly; review daily cash receipts and confirm that payments are correctly applied to customer accounts and invoices.
    • Monitor accounts receivable aging reports and establish collection priorities based on balances, risk, payment terms, and account history.
    • Personally manage escalated, disputed, delinquent, or high-risk customer accounts.
    • Maintain accurate customer account records and ensure all collection activity is properly documented; reconcile the accounts receivable subledger to the general ledger and investigate discrepancies; support monthly, quarterly, and year-end financial closing activities.
    • Develop and maintain AR performance measurements, including aging, past-due balances, collections, deductions, unapplied cash, and days sales outstanding.
    • Serve as the primary operational contact for the Company’s factor.
    • Manage the daily submission and assignment of eligible customer invoices to the factor.
    • Review borrowing availability, advances, reserves, dilution, ineligible receivables, credit limits, and customer approvals.
    • Monitor factored and non-factored accounts and ensure transactions are properly recorded and reconciled.
    • Prepare and submit required schedules, reports, supporting documentation, and customer account information to the factor.
    • Reconcile factor statements, customer remittances, advances, reserves, fees, chargebacks, and related general-ledger activity; research and resolve discrepancies between Company records and factor reports.
    • Communicate with the factor regarding customer credit approvals, order releases, disputes, deductions, chargebacks, payment issues, and collection status.
    • Ensure compliance with factoring agreements, reporting requirements, notice-of-assignment requirements, and internal controls.
    • Partner with senior management and finance to monitor borrowing availability and short-term cash-flow needs.
    • Establish and maintain customer credit files, credit limits, payment terms, and account restrictions.
    • Review credit applications, trade references, financial information, credit reports, and factor approvals.
    • Evaluate new and existing customers for creditworthiness and recommend appropriate limits and payment terms; review orders placed on credit hold and approve releases within established authority.
    • Coordinate with Sales and senior management when customer orders present significant credit or collection risk.
    • Develop and implement collection strategies for past-due and high-risk accounts.
    • Communicate professionally and firmly with customers regarding outstanding invoices, deductions, payment commitments, and account status.
    • Recommend third-party collection, legal action, write-offs, or revised payment arrangements when appropriate.
    • Maintain appropriate documentation supporting collection efforts, credit decisions, payment commitments, and account adjustments.
    • Oversee the research, validation, documentation, dispute, and resolution of customer deductions and chargebacks.
    • Work with national retailers, wholesale customers, e-commerce platforms, and other customer channels to resolve shortages, pricing discrepancies, returns, allowances, freight claims, compliance charges, and unauthorized deductions.
    • Coordinate with Sales, Customer Service, Shipping, Logistics, EDI, Finance, and warehouse personnel to obtain supporting documentation.
    • Identify recurring deduction trends and work with the appropriate departments to address their underlying causes.
    • Ensure valid deductions are processed promptly and invalid deductions are disputed within customer deadlines.
    • Monitor open deductions and provide regular reporting regarding balances, aging, recovery rates, and material issues.
    • Manage, train, coach, cross-train and evaluate AR team members.
    • Assign customer portfolios and establish clear responsibilities, deadlines, and performance expectations.
    • Review the team’s collection notes, account reconciliations, cash applications, deductions, and follow-up activity.
    • Provide ongoing guidance regarding customer communications, problem resolution, credit decisions, and collection priorities.
    • Address performance concerns promptly in coordination with HR; promote accountability, accuracy, collaboration, and professional customer service throughout the department.
    • Prepare weekly and monthly reports addressing receivable aging, collections, past-due accounts, cash receipts, deductions, credit exposure, and factoring activity.
    • Provide management with timely notice of significant customer risks, payment delays, disputes, or changes in account behavior.
    • Establish and maintain written AR, credit, collection, deduction, and factoring procedures.
    • Strengthen internal controls and ensure proper segregation of duties within the AR function.
    • Maintain complete documentation to support internal and external audits.
    • Assist auditors by providing confirmations, reconciliations, schedules, and supporting documentation.
    • Recommend process, system, reporting, and automation improvements that improve accuracy and reduce collection time.

    Qualifications:
    • Bachelor’s degree in accounting, finance, business administration, or a related field preferred. Substantial directly related experience may be considered in place of a degree.
    • Minimum of 10 years of progressive accounts receivable, credit, collections, and cash-application experience.
    • At least three years of experience managing or leading an AR team.
    • Direct experience working with a commercial factor is strongly preferred.
    • Thorough knowledge of factoring, invoice assignment, borrowing availability, reserves, dilution, credit approvals, and factor-statement reconciliation.
    • Experience managing high-volume receivables and complex customer portfolios.
    • Experience with national retailers, wholesale accounts, e-commerce customers, or licensed consumer products strongly preferred.
    • Demonstrated experience resolving customer deductions, chargebacks, shortages, pricing disputes, returns, and compliance claims.
    • Strong understanding of accounting principles, account reconciliation, general-ledger integration, and internal controls.
    • Advanced Microsoft Excel skills, including pivot tables, lookups, account analysis, and large-data reconciliation.
    • Experience with NetSuite or a comparable ERP system strongly preferred.
    • Experience with EDI transactions, retailer portals, customer payment portals, and electronic remittance information preferred.
    • Strong supervisory, analytical, organizational, and problem-solving skills.

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