Testbook.com - Manager - Accounts Payable/Accounts Receivable (4-11 yrs)

Manager - Accounts Payable/Accounts Receivable

Responsibilities:

- The AP and AR Manager will oversee the end-to-end accounts payable and accounts receivable processes. Timely and accurate processing of invoices, payments, and collections. You'll be required to do it all, while maintaining effective communication with vendors, clients, and internal teams.

- As an AP and AR Manager, we're counting on you to manage the cash flow, maintain accurate financial records, and ensure compliance with company policies and applicable regulations.

Here's more details on what we'll need from you:

Accounts Payable (AP) Management:

- Oversee the day-to-day operations of the AP team, including processing supplier invoices, ensuring accuracy, and managing approval workflows.

- Ensure timely and accurate processing of vendor payments, taking advantage of discounts where applicable.

- Monitor the aging of accounts payable and resolve issues related to vendor invoices and payments.

- Maintain relationships with key vendors and handle escalated payment or invoice inquiries.

- Reconcile AP accounts and prepare month-end AP reports.

- Implement and maintain internal controls over the AP process.

- Ensure compliance with all regulatory requirements, including tax and audit requirements.

Accounts Receivable (AR) Management:

- Oversee the AR process, including invoicing, collections, and cash applications.

- Monitor the aging of accounts receivable and follow up on overdue accounts to ensure timely collections.

- Resolve discrepancies and disputes with customers related to billing and payment issues.

- Work closely with sales, customer service, and finance teams to resolve outstanding issues and maintain strong customer relationships.

- Prepare and analyze AR aging reports, cash flow forecasts, and bad debt reserves.

- Implement policies and procedures to improve collection efforts and reduce days sales outstanding (DSO).

- Ensure compliance with all internal policies and relevant accounting standards.

Leadership and Team Management:

- Lead, mentor, and develop the AP and AR teams, providing training and performance evaluations.

- Promote a culture of continuous improvement by identifying opportunities for process enhancements and automation.

- Work closely with the finance leadership team to support financial audits, budgeting, and reporting processes.

Systems and Process Improvements:

- Manage the implementation and maintenance of financial systems related to AP and AR functions.

- Collaborate with IT and other departments to drive automation, improve efficiency, and ensure data accuracy.

- Recommend and implement process improvements to streamline workflows, reduce errors, and enhance overall financial performance.

Reporting and Analysis:

- Prepare and present regular reports on AP and AR performance, cash flow, and key metrics to senior management.

- Assist in the preparation of monthly, quarterly, and annual financial reports.

- Provide insights and analysis to support strategic decision-making related to vendor management, credit policies, and working capital optimization