Accounts Receivable Manager (London)
3 days ago
We are looking for an Accounts Receivable Manager for our team in London. This is a wide-ranging role that requires a working knowledge of both Sales Ledger and Credit Control procedures, with an ability to reconcile complex accounts and maintain strong relationships with external clients and internal colleagues. The Accounts Receivable Manager will work closely with the UK based sales teams to ensure timely and efficient collection of monies due from the UK customer base and third party export partners. As well as maintaining the debtor accounts, you will provide reports and schedules to keep the business informed and able to make strategic decisions. The role will also cover other general accounting duties with work both in the AR subledger and the General Ledger. You will be responsible for timely and accurate sales related data being made available, through guiding your team to efficiently achieve their goals.
The below descriptions and tasks are a high-level overview of different areas that need to be focussed on within the role. This is not a complete list, and there are many ad hoc requirements. There are also many opportunities to bring enhancements and improvements to the role; either by improving existing processes or identifying the need for new ones.
- AR ledger maintenance and credit control
A core function of the role will be to oversee the Accounts Receivable and Channel Revenue Management modules in Oracle, with areas of focus to include, but not be limited to:
- Maintaining customer debtor ledgers, ensuring timely collections of monies owed, and ensuring that the business is not exposed to a risk of bad debt. Monitoring our AR inbox and replying to queries to distributing them to relevant people.
- Confirming there is successful invoice submission for EDI and portal customers; that pro forma invoices are issued to cash in advance customers and liaising with the operations team on when they may build and release orders; and that the AR systems and associated transactions are generally running issue-free
- Managing open claims/deductions from customers (typically promotional sales activity reimbursements) and keeping aging to a minimum
- Making certain that management information based on sales data is accurately captured
- Preparation of 3rd Party Distributor (3PD) net revenue reports around launch times, as well as collating, logging launch payments and releasing day 1 shipments
- Monthly reconciliation, invoicing, and cash allocation for consignment model customers
- Reviewing royalty statements for both digital and licensing customers, confirming accuracy in customers’ reports and our subsequent invoicing and data recording
- Preparation and review of month end journals relating to revenue accruals and revenue provisions.
- Managing a team
- You will be managing a bright, young team of 2 people, currently studying to become qualified accountants. Their development and management are key parts of this role, and you will need to be able to work in a hands-on capacity supporting your team as required. You will be prepared to provide coaching, mentoring, direction and guidance, setting objectives and holding regular 1-2-1 meetings and appraisals.
- Reporting for other departments and management
As well as the day to day activities of the role, there are reporting requirements. These are both for period ends, and on an ad hoc basis. Examples of this are:
- Cash Flow forecasts to help the business manage its cash reserves
- Credit Insurance – review limits on an ongoing basis, prepare annual reports to negotiate terms
- Maintenance of monthly data tables building YTD revenues reports
- Weekly age analysis – up to date commentary on disputes with customers and explanations on why debtor ledger items/open claims are overdue
- Finance point of contact for the legal team to discuss new contracts with, so that administration of these contracts is both possible and practical
- Period End deadlines and GL Work
There are multiple tasks to be carried out as part of Period End closing to ensure that data is accurate, and to verify that the final numbers in the TB tie back to the AR subledgers. These include, but are not limited to, the below:
- Ensuring revenues are not missing from the books, record sales accruals for un-invoiced sales. Revenues need to be recorded accurately and quickly each month end close.
- Review of GL postings and management reporting to ensure accuracy
- Comparison between different sources of data to ensure completeness
- Adjustment for FX when reviewing intercompany COGs v Revenue
- Preparation of schedules for audit purposes
- Self-motivated and confident individual who can communicate at all levels
- Strong end to end process knowledge of the Accounts Receivable/Debt collection process from contract through to payment
- Delivery focussed with the ability to “see the bigger picture” and ensure all key areas of the department are of an excellent standard. Someone who takes pride in their work
- Sound understanding of accounting techniques, principles & practice (QBE acceptable)
- Proven ability (5+ years) to manage an AR team and ledger
- Strong excel skills (V-Lookups, sumifs and pivot tables)
- Experience with Oracle R12 is an advantage but not required
- Retail experience strongly desired
- Strong relationship building skills
- High attention to detail