Debtors Controller

SUMMARY:
We are looking for a dedicated and experienced Debtors Controller.
The main purpose of a Debtor’s Controller is to manage and oversee the accounts receivable (AR) function within a business.
This entails ensuring prompt payment collection, maintaining accurate financial records, and providing exceptional customer service to facilitate smooth transaction processing.

Please forward your CV to Vacancies@riseupgroup.co.za

POSITION INFO:
Responsibilities:

Debtors Controller

• Responsible for managing the debtor ledger, issuing invoices, following up on overdue accounts, and reconciling payments.

• Provide necessary documentation and support for invoicing and dispute resolution.

• Assist with reconciliations and reporting.

• Ensure that all documents are received, and are valid
• Ensure the BCM Process is followed
• Credit Approval from CGCI
• Account to be opened on the System with all statutory information completed

• Ensure credit note documents are completed correctly and signed off by the departmental head
• No credit note is to be processed without prior approval.

• Monitor Payments: Regularly check for incoming payments and match them to the corresponding invoices.
• Reconcile Accounts: Ensure payments are correctly allocated in the accounting system.
• Update Ledger: Maintain an up-to-date debtor ledger reflecting all payments and outstanding balances.

• Aging Report: Generate an aging report to identify overdue accounts.
• First Reminder: Send a polite reminder email or letter to customers with overdue payments
• Second Reminder: Escalate with a more formal reminder if payment is not received
• Phone Follow-Up: Contact the customer directly to discuss overdue payments and agree on a payment plan if necessary.
• Final Notice: Issue a final demand letter if payment is still not received

• Identify Disputes: Investigate any disputes or discrepancies raised by customers.
• Collaborate with Teams: Work with sales, support, or logistics teams to resolve issues.
• Adjust Invoices: Issue credit notes or adjust invoices as necessary.
• Communicate Resolution: Inform the customer of the resolution and confirm payment terms.
• Bad Debt Management
• Identify Bad Debts: Flag accounts that are unlikely to be paid (e.g., 90+ days overdue).
• Write-Off Approval: Seek approval from management to write off bad debts.
• Record Write-Offs: Update the accounting system to reflect the write-off.
• Monitor Recovery: Continue to monitor written-off accounts for potential recovery.

• Daily/Weekly Reports: Prepare reports on outstanding debtors, payments received, and overdue accounts.
• Monthly Reconciliation: Reconcile the debtor ledger with the general ledger.
• Management Reports: Provide detailed reports to management on debtor performance and collection efforts.

• Percentage of overdue accounts
• Average days sales outstanding (DSO)
• Bad debt as a percentage of total sales
• Collection effectiveness index (CEI)

• Accounting software IQ Retail