Position: Accounts Receivable (AR) Analyst
Department: Finance / Accounting
Reports to: Accounts Receivable
Job Objective
The Accounts Receivable (AR) Analyst – Retail Industry is responsible for managing the end-to-end AR process, ensuring accurate and timely processing of customer payments, and maintaining financial health through efficient collections and account management. This role demands a deep understanding of retail operations, high transaction volumes, and the ability to collaborate effectively across departments.
Key Responsibilities
-Data Entry and Recording:
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-Process high volumes of invoices and payments from retail customers, including distributors, wholesalers, and direct-to-consumer channels.
-Accurately enter returns and credit notes into the accounting system or ERP.
-Reconcile payment discrepancies related to retail promotions, discounts, and returns.
-Manage chargebacks and deductions specific to the retail sector, ensuring proper documentation and resolution
-Verify that all returns are properly supported by documentation, such as invoices, authorizations, and receipts.
-Customer Account Maintenance:
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- Monitor customer accounts for overdue balances and implement proactive collection strategies.
-Resolve billing disputes by collaborating with sales, customer service, and retail partners.
-Ensure customer credit limits align with company policies and retail dynamics.
-Review and Validation:
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-Contact clients to secure timely payments.
-Ensure that returns comply with company policies and customer agreements.
-Maintain detailed records of communication with customers and follow up on payment commitments.
-Investigate and resolve discrepancies in returns and credit notes, escalating complex cases when necessary.
-Reconciliations:
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-Perform regular reconciliations of accounts receivable to ensure are correctly reflected in customer balances.
-Identify and resolve variances between system records and customer-reported balances.
-Follow-up:
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-Monitor the status of pending returns for approval or processing.
-Address and resolve incomplete or rejected returns, ensuring proper documentation and resolution.
-Communication and Support:
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-Work closely with cross-functional teams, including sales, supply chain, and retail operations, to address AR-related issues.
-Support financial audits by providing retail-specific AR documentation and reconciliations.
-Compliance:
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-Ensure compliance with company policies and tax regulations in the processing of returns (e.g., issuing credit notes in line with legal requirements).
-Keep processes and documentation up to date with current regulations.
Requirements
Education:
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-High school diploma or technical certification in accounting, administration, or related fields.
-Preferred: Basic training or knowledge in accounting or accounts receivable.
Experience:
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-3-5 of experience in accounts receivable, credit control, or a similar role, preferably in the retail industry.
-Indispensable experience with ERP systems SAP.
Technical Knowledge:
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-Basic understanding of accounting and account reconciliation.
-Familiarity with return processes and credit note issuance.
-Proficiency in Microsoft Excel and other office tools.
Skills:
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-Strong understanding of retail business models, and e-commerce operations.
-Exceptional problem-solving skills with attention to detail and accuracy.
-Proficiency in Microsoft Excel (pivot tables, VLOOKUP, etc.) and financial reporting tools.
-Effective communication and negotiation skills to manage retail client relationships.
-Ability to work in a fast-paced retail environment with fluctuating transaction volumes.
