Elements and Performance Criteria
- Review accounts receivable process
- Check receipts entered into accounts receivable system for accuracy, consistency and thoroughness
- Identify and accurately record incorrect entries according to type and source of receipt
- Identify and investigate discrepancies between monies owed and monies paid according to organisational policy, procedures and guidelines
- Amend receipts entered into accounts receivable system according to established procedures
- Identify bad and doubtful debts
- Regularly review debtor ledger in accordance with organisational policy and guidelines to identify outstanding monies and seek further information, if required, from relevant sources
- Verify bad or doubtful debt status through liaison with debtors
- Complete reporting procedures and appropriate documentation for bad and doubtful debts in accordance with organisational policy and guidelines
- Review compliance with terms and conditions and plan recovery action
- Correctly identify clients in default of trading terms according to organisational operating procedures, and promptly and courteously contact to make satisfactory arrangements to pay outstanding monies
- Action organisational policy and procedures for monies owing that constitute breaches of organisational credit policy
- Thoroughly review previous activities and communication with clients to establish adequacy of follow-up procedures and determine whether all usual organisational recovery avenues have been exhausted
- Develop plans to pursue debt recovery or to initiate legal action with measures to collect monies completed in accordance with organisational policy, guidelines and timelines
- Prepare reports and file documentation
- Distribute creditor invoices for authorisation
- Remit payments to creditors
- Prepare accounts paid report and reconcile balances outstanding