Determine and implement new AP processes within accounting system to ensure accurate and timely posting of invoices in the accounting system. Routinely monitor and revise processes as needed.
· Improve approval processes within new accounting system to ensure timely payments and alignment with other company initiatives.
· Oversee the outsourced AP team to ensure the timely and accurate preparation of weekly payment runs (checks, ACH, and wires). Determine and implement any modifications as needed to outgoing payments.
· Audit vendor files, respond to vendor inquiries, and resolve discrepancies.
· Oversee the outsourced AP team subledger reconciliation process, which includes determining and implementing changes to the process as needed .
· Ensure compliance with company procurement policies, spending limits, and approval hierarchies.
· Act as liaison between the finance team and restaurant/general managers to resolve AP issues.
· Research and analyze causes of service interruptions; determine and implement corrective actions to the processes.
· Collaborate with operations teams and other stakeholders to streamline accounting processes and to maintain strong financial controls.
· Manage end-to-end AR processes performed by outsourced AR team, including billing, collections, cash applications, and reconciliations across multiple restaurants. Monitor processes and implement changes to create efficiencies.
· Handle escalated collection issues and negotiate payment terms with clients.
· Identify and implement process improvements and automation tools in AR system to ensure timely recognition of payments.