Accounts Receivable Executive

1. Payment Receipt & Recording

• Invoice Matching: Payments are recorded against the correct invoices to avoid discrepancies.
• Payment Methods: Track payments in ERP System on amounts received via bank transfers, or other methods.
• Auto-Posting: Ensuring payment entries in ERP System are passed Manual/automatically posted to respective customer accounts.

2.Credit Note & Debit Note accounting

• Ensure the credit note request is valid (e.g., product returns, overbilling) and validate the reason for issuing the debit note.
• Ensure approval is obtained in accordance with policies and procedures.
• Process the credit note against the correct invoice in the ERP system and Notify customers and ensure timely recovery of the additional amount.
• Process the Debit Note in accordance with established policies, obtain approval, communicate with the customer, and collect the amount.
• Ensure correct GST, TDS, or any tax adjustments are made.
• Coordinate with auditors & internal teams for compliance checks.

3. PDC Deposit

• Receive PDCs from customers as per agreed payment terms.
• Monitor due dates and ensure cheques are deposited on time.
• Update ERP/PDC tracker once the cheque is cleared.
• Handle bounced cheques by promptly notifying customers and acting based on established policies while communicating with all stakeholders.
• Ensure compliance with internal policies and regulatory guidelines.
• Track incoming payments and update records accordingly.
• Ensure all payments are correctly allocated to respective invoices.

4. Cash & Bank Reconciliations

• Track incoming payments and update records accordingly.
• Ensure all payments are correctly allocated to respective invoices.

5. Customer Ledger Maintenance

• Each customer has a dedicated ledger within the ERP system.
• Payments received are updated in real time, showing outstanding balances.
• Adjustments, write-offs, or refunds are recorded for audit purposes.

6. Reconciliation & Aging Analysis

• Bank Reconciliation: The ERP system reconciles received payments with bank statements.
• Aging Reports: Generates reports on overdue payments, categorizing them by 30, 60, 90 days.
• Discrepancy Resolution: Any short payments, deductions, or mismatches are flagged and reviewed.

7. Reporting & Documentation

• Prepare accounts receivable reports for management.
• Maintain detailed records of all transactions for audit and compliance purposes.

8. Payment Collection & Follow-up

• Monitor customer accounts for delayed payments.
• Follow up with customers via calls, emails, or reminders to ensure timely payments.

9. Auto Reminders & Alerts

• ERP or other software ensure can send automated reminders via emails or SMS for overdue payments.
• Escalation Alerts for non-payment beyond a certain period.

10. Incentive Calculation

• Reviewing the company's incentive policies for field executives (e.g., Quantity-based, or performance-driven incentives) ...
• Gathering sales or performance data (Secondary data) from Sales force, ERP, or sales reports.
• Cross-checking targets achieved against predefined incentive criteria and applying the correct formulas based on achievement levels (e.g., percentage-based, slab-wise, or fixed bonuses) and any Adjusting incentives for deductions like penalties, returns, or policy non-compliance
• Ensuring tax deductions (TDS) are applied correctly.
• Preparing incentive payout reports for management approval and coordinating with payroll or finance teams to ensure timely disbursement.

10. Coordination with Other Departments

• Work closely with the sales teams or Support team to resolve customer payment issues.
• Collaborate with auditors during financial audits.

11. Compliance & Legal

• Ensure compliance with financial regulations and company policies.
• Handle disputes and escalate legal matters if necessary.