Credit Control & Bank Reconciliation

• To assist the Accountant in financial matters of the Company by undertaking a portfolio of accounting responsibilities as assigned by the Accountant. receive payments from debtors, banking of cheques, posting of receipt, chase payment, prepare debtors holding and warning list on overdue accounts.

• • Formulate, monitor and reinforce credit policy and compliance. Take charge of credit assessment of new and existing customers.

  • Monitor and check on overdue accounts receivables.

  • Formulate strategies to resolve overdue accounts receivables.

  • Work closely with sales, customer service and customers in reconciling accounts.

  • Match collection with outstanding account, also update Customer Service Specialist about the payment. Deposit cheq and update this receipt to the respective account.

  • Chase Payments.

  • Provide supporting documents (copies of invoices and delivery order) as debtors request.

  • Prepare debtors holding warning list on past overdue accounts.

  • Report weekly sales and order received.

  • Bank reconciliation - to reconcile all receipts with deposit, payments and unpresented cheques.

  • Report analysis of actual sales figure.

  • Prepare statement of accounts and Debtors Age Analysis.

  • Print the following report and file - A/R Open item and Transaction; Sales analysis by customers and salesmen (with profit margin), Sales Analysis by product group and customer type of Sales Dept; G/L Transaction; GST Summary and Detail, Period-End Closing.

  • Any other tasks as and when assigned by the management.

  • Credit control and debt management

  • A debt to the School is deemed to occur when a contractual obligation has been entered into for services or goods provided by the School to a customer or student.

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  • If a debtor has not paid by the agreed due date(s) then credit control procedures will commence.

  
  Healthy Cash Flow Is A Must For Any Successful Business.............
  
  
  What is Outsourcing? In Particular, What is Credit Outsourcing?
  
  Outsourcing Bookkeeping Services is one of the "Buzz Phrase " of business that is used so frequently throughout so many industry sectors today. The concept of Outsourcing Credit Control and Bank Reconciliation is based on your business removing legal activities from in-house work processes and passing them out to another business who carries out these activities on your behalf.
  
  
  If your business is not a specialist in a accoutning legal activity, then generally speaking, this is an activity that you should look to outsource (get someone else to carry out the function on your behalf). What is a non-core activity for you may be a core business activity for another business.
  
  The most popular outsourced functions for many businesses are IT, Outsourcing Bookkeeping Services. The reason that they are outsourced is that they are highly skilled tasks, they are tightly regulated and companies that specialise in these areas can carry out the functions much faster, more cheaply and to a higher quality than most other businesses can do them themselves.
  
  Credit Management is another non-core business function (unless you are a credit management agency that is). The credit function is also highly regulated, requires specialist knowledge and skills, can be fairly time consuming. All of this can add unnecessary cost to your business whether through times spent on credit control, bad debts, expensive finance agreements or through other means.