Accounts Payable & Accounts Receivable is responsible for overseeing the AP and AR functions, ensuring timely payments to vendors, effective collections from customers, and accurate financial records. This role involves leading a team, managing cash flow, optimizing processes, and collaborating with internal departments to ensure efficient financial operations. The ideal candidate will be proactive in problem-solving, detail-oriented, and capable of managing large volumes of transactions.
Key Responsibilities: • Accounts Payable Management: Oversee the accounts payable process, including invoice processing, payment runs, and vendor reconciliations. Ensure timely and accurate payments to vendors while maintaining compliance with company policies and relevant regulations.
• Accounts Receivable Management: Supervise the accounts receivable function, including billing, invoicing, and cash collections. Ensure timely collection of receivables, monitor customer accounts, and minimize outstanding balances.
• Cash Flow Management: Monitor and manage daily cash flow related to AP and AR activities, ensuring the availability of funds for operations and maximizing working capital. Collaborate with treasury to forecast cash needs.
• Reconciliation: Ensure accurate month-end and year-end reconciliations of AP and AR accounts, including bank reconciliations. Resolve any discrepancies and ensure accurate posting in the general ledger.
• Team Leadership: Lead and mentor the AP and AR team, providing training, guidance, and performance feedback. Develop team members' skills and promote a high level of efficiency and accuracy.
• Process Improvement: Identify opportunities to streamline AP and AR processes to enhance efficiency, reduce errors, and minimize processing time. Implement best practices and automation tools.
• Vendor & Customer Relations: Maintain positive relationships with vendors and customers. Address and resolve any disputes or issues related to invoices, payments, or collections.
• Reporting: Prepare and present detailed reports on AP and AR aging, cash flow, payment cycles, and collection trends to senior management. Provide insights into performance metrics and suggest actionable improvements.
• Policy & Compliance: Develop, implement, and maintain policies and procedures for AP and AR functions to ensure compliance with company guidelines and financial regulations. Ensure adherence to internal controls.
• Audit Support: Assist with internal and external audits related to AP and AR functions, providing required documentation and ensuring compliance with audit requirements.
Qualifications: • Bachelor's or Master's degree in Accounting, Finance, Business Administration, or a related field.
• 5+ years of experience in accounts payable and receivable, with at least 2 years in a supervisory or senior role.
• Strong knowledge of accounting principles, financial regulations, and AP/AR best practices.
• Proficiency in accounting software and ERP systems (e.g., SAP, Oracle, QuickBooks).
• Excellent analytical skills and attention to detail.
• Strong leadership and team management capabilities.
• Effective communication skills with the ability to resolve issues diplomatically.
Skills:
• Financial analysis and reporting
• Strategic planning and process optimization
• Advanced Excel skills
• Team leadership and development
• Problem-solving and decision-making
• Strong interpersonal and negotiation skills
• High level of accuracy and attention to detail