Accounts Receivable Associate (OTP - Order to Cash)

We thrive on challenge and change. We rise to challenges together.

 

Accounts Receivable Associate (OTP – Order to Cash)
 

Location: Newark (Hybrid Working)

Business Area: Finance
Contract Type: Permanent

Working Hours: Monday to Friday 8:30am to 5:00pm – however part time and job share applications will be considered

Salary: Competitive plus pension, life assurance

Holidays: 25 days plus bank holidays

 

We're the biggest name you've never heard of. You've probably eaten our food - you just didn't realise it. We make innovative fresh products, with around 18,500 colleagues working across the UK, US and China. We’re the market leader in the UK fresh prepared food industry supplying meals, salads, desserts, pizza and bread to leading grocery retailers (including Tesco, M&S, Sainsbury's and Waitrose). We’re ambitious. We’re full of ideas. And we’re ready for more people who share our values and passion for quality to join us.

 

The Role

We’re proud to offer you a career with real scope for development. To reward your hard work and ambition as a talented Accounts Receivable Associate with plenty of support and opportunity. And empower you to drive your own success and create a career you can be proud of too.

 

In this busy and exciting role, you will be responsible for the day-to-day processing of customer billing, cash collection, cash application, performing reconciliation, managing disputes and performing other AR related tasks.

 

The role involves transactional processing based on the allocation of tasks by OTC Team Leader / Manager and requires following Standard Operating Procedures (SOP) to execute the tasks within agreed SLAs and KPIs. 

 

Accountabilities

 

Billing

• Perform timely and accurate creation of sales invoices based on agreed procedures Engage with stakeholders as needed to gather incomplete data and ensure that invoices have all required information completed accurately and in line customer requirements
• Verify correct discounts, rebates and adjustments have been applied to sales invoices where appropriate
• Liaise with OTC Team Leader if approval for sales invoice is required, in line with Bakkavor’s policies
• Employ the utilisation of PODs (Proof of Delivery) and the principles of good faith receiving to generate invoices as required, adhering closely to the terms and guidelines established per policy

Credit Management

• Review credit applications from new customers and assess their creditworthiness to establish appropriate credit limits; present findings to Team Leader/Manager for decision making
• Analyse existing customer credit limits based on their history, recommending adjustments to OTC Team Leader where appropriate
• Communicate with relevant stakeholders over credit decisions, providing explanation when necessary

Account Receivables and Revenue Reconciliations

• Undertake AR ageing analysis and calculate bad debt levels as per established Bakkavor policies, present to Team Leader for review and approval
• Undertake AR, Sales Not Invoiced (SNI), and revenue reconciliations accurately and in a timely manner, escalate reconciling issues (along with appropriate supporting information) for review and approval
• Reconciliation of Customer supply chain financing (SCF) portals to ERP systems to ensure all invoices are available for draw down
• Investigate any missing invoices with customer to ensure resolve in a timely manner and escalate to manager unresolved
• Review AR ledger and complete appropriate collection of account receivables and debt chasing activities as per agreed debt collection strategy
• Accurately record all ‘promise to pay’ and outcomes of debt chasing activities in a timely manner
• Escalate to Team Leader persistent overdue invoices and customer accounts

Debit Note Resolution and Cash Application

• Undertake reconciliation of cash received against customer invoices to enable application of cash received to customer accounts. Where required, generate debit notes for customer deductions. Gather appropriate evidence and approval as per documented procedures
• Engage with stakeholders as needed to ensure payment is made within the agreedupon terms
• Identify unallocated cash and track source of it through reviewing payment records, bank statements, and any available communication with customers
• Generate credit notes as per documented procedures and seek appropriate approvals
• Raise customer account write offs to OTC Team Leader as needed

Dispute Management

• Creates dispute case records with appropriate classification based on nature of disputes
• Undertake research on dispute cases;