Receivable Accountant at Kloverharris Limited

KloverHarris, your premier indigenous Human Capital Development Consultancy Company in Nigeria. As a duly registered firm under the Laws of The Federal Republic of Nigeria, we take pride in offering exceptional services to both local and international companies.

Our focus is on providing best-in-class HR consulting/talent management services as well as customizedtrainings and IT solutions to small and medium-scale enterprises (SMEs) & large corporations operating in Nigeria and across the globe.

We are recruiting to fill the position below:

Job Title: Receivable Accountant

Location: Lagos

Job Summary

• The Receivable Accountant is responsible for managing the company’s accounts receivable processes, including customer invoicing, collections, credit management, and ensuring the timely and accurate recording of revenue.
• This role plays a key part in maintaining the company’s cash flow, reducing overdue balances, and ensuring compliance with company policies and accounting standards.
• The Receivable Accountant will work closely with the sales, customer service, and finance teams to ensure that all accounts receivable transactions are properly recorded and managed.

Key Responsibilities
Accounts Receivable Management:

• Oversee and manage the company’s accounts receivable portfolio, ensuring that all customer invoices are generated, recorded, and collected in a timely manner.
• Ensure the accuracy of invoicing, including verification of pricing, discounts, and taxes, based on customer agreements and contracts.
• Monitor accounts receivable aging reports to identify overdue accounts and ensure that they are addressed promptly.
• Manage the reconciliation of customer accounts to ensure all transactions, including payments, credits, and adjustments, are recorded accurately and reflect the correct outstanding balance.

Invoicing & Billing:

• Generate and send accurate invoices to customers based on sales orders, delivery confirmations, and contractual agreements.
• Ensure invoices are issued within the agreed-upon terms and in compliance with the company’s pricing and billing policies.
• Address and resolve any billing discrepancies or customer queries related to invoices, payments, or pricing in collaboration with the sales and customer service teams.
• Work with the sales team to ensure that all customer orders are properly documented and billed, including large or complex orders for key accounts.
• Perform periodic checks on customer credit terms and ensure that any special billing arrangements are accurately applied.

Credit Management & Collections:

• Evaluate and assess the creditworthiness of new and existing customers in collaboration with the sales and credit teams, ensuring that appropriate credit limits are set.
• Review and approve customer credit limits, taking into account historical payment behavior and the financial health of the customer.
• Actively follow up on overdue accounts, contacting customers via phone, email, or written communication to arrange for payments.
• Work with customers to resolve disputes or payment delays, including negotiating payment plans or settlement options when appropriate.
• Collaborate with the sales and legal departments to address any significant or ongoing collections issues, and escalate unresolved matters to senior management.
• Maintain accurate records of all collections activities, ensuring that customer communications are documented and updated in the company’s systems.

Reconciliation & Reporting:

• Perform regular reconciliations of accounts receivable balances to the general ledger, ensuring that all transactions are properly accounted for.
• Assist in the preparation of monthly, quarterly, and annual financial reports related to accounts receivable, including bad debt provisions, aging analysis, and cash flow forecasts.
• Provide insights and analysis on accounts receivable performance, including trends in collection periods, overdue accounts, and the overall health of the company’s receivables.
• Prepare and maintain reports on account status, including aging reports, customer payments, and collections metrics, for senior management and auditors.
• Assist in the preparation of year-end financial audits by providing documentation and support related to accounts receivable balances.

Cash Application & Payment Processing:

• Oversee the accurate application of customer payments to the appropriate accounts, ensuring that payments are recorded in a timely and accurate manner.
• Verify that all incoming payments (checks, wire transfers, ACH, credit card) are processed in accordance with company procedures, and ensure that cash receipts are deposited correctly.
• Investigate and resolve any discrepancies between payments and invoices, coordinating with customers and internal teams to clear up issues.
• Ensure that payments are applied to the correct invoices and that any unapplied cash is promptly addressed.

Internal Controls & Compliance:

• Ensure compliance with company policies, internal controls, and accounting standards in relation to accounts receivable processes.
• Implement and maintain internal control procedures to ensure the integrity of the accounts receivable function, including proper segregation of duties, authorization of credit limits, and adherence to company policies.
• Work closely with the finance and audit teams to ensure that accounts receivable transactions are fully compliant with industry regulations and accounting standards (e.g., GAAP, IFRS).
• Assist in the review and improvement of accounts receivable processes and controls to streamline workflows and increase efficiency.

Customer Relationship Management:

• Foster positive relationships with key customers to encourage timely payments and resolve any payment-related issues in a professional manner.
• Provide customer support on billing issues, payment inquiries, and account disputes, collaborating with internal teams as needed to resolve customer concerns.
• Work with the customer service team to resolve order discrepancies, payment delays, and credit issues to maintain smooth customer relations.

Bad Debt & Write-offs:

• Monitor overdue accounts and determine the appropriate course of action to minimize bad debt exposure.
• Collaborate with management to identify accounts that require write-offs and provide recommendations based on the collection history and customer status.
• Review the provision for bad debts, ensuring it is accurate and reflects the true collectability of outstanding balances.
• Keep track of accounts that may be at risk of becoming uncollectible, and work to mitigate these risks by actively pursuing collection efforts.

Qualifications & Skills
Education:

• Bachelor's Degree in Accounting, Finance, Business Administration, or a related field (required).
• Additional certifications, such as Certified Public Accountant (CPA) or Certified Management Accountant (CMA), are a plus.

Experience:

• Minimum of 4-6 years of experience in accounts receivable, credit management, or financial accounting, preferably in the alcoholic beverage or FMCG industry.
• Proven experience in managing invoicing, collections, and account reconciliations.
• Familiarity with the company’s invoicing and ERP systems (e.g., SAP, Oracle, QuickBooks) is a plus.
• Experience working with cross-functional teams, including sales, customer service, and finance departments.

Skills:

• Strong organizational skills and attention to detail, with the ability to manage large volumes of transactions and data.
• Excellent communication and interpersonal skills, with the ability to engage with customers and internal teams to resolve issues.
• Ability to analyze and interpret accounts receivable data, customer credit risk, and aging reports.
• Proficiency in Microsoft Excel and other accounting or financial software.
• Ability to work independently, prioritize tasks, and manage time effectively to meet deadlines.
• Problem-solving skills, with the ability to address complex customer disputes and payment issues.
• A strong understanding of accounting principles, including revenue recognition, cash flow management, and credit control procedures.

Application Closing Date
31st January, 2025.