Account Receivable Manager I at Food Concepts Plc

Requisition ID: 1907

Job Purpose

• To lead the accounts receivable function by ensuring the timely and accurate collection of all customer payments, maintaining up-to-date records of receivables, and supporting the financial health of the organisation. 
• The role involves managing credit risk, improving cash flow, and fostering strong relationships with internal and external stakeholders

Responsibilities
Credit Control & Collections Management:

• Develop and implement effective credit policies to minimize bad debt risk and ensure timely collections.
• Ensure timely invoicing of franchisee monthly royalty income and marketing contribution invoices, including communication to franchises and posting on BYD.
• Monitor and manage outstanding invoices, initiating follow-ups and recovery actions as necessary.
• Coordinate with franchisees to resolve payment discrepancies, delays, and disputes in a professional manner.
• Prepare and issue monthly statements, reminders, and demand letters to delinquent accounts.
• Maintain accurate aging reports and ensure periodic reconciliation of receivables with general ledger accounts.
• Identify high-risk accounts and escalate issues to senior management for resolution.

Advance to Suppliers Management:

• Monitor and manage outstanding cash advance, initiating follow-ups and recovery actions as necessary.
• Perform periodic reviews with business partners to identify bottleneck to advance retirements and work with Finance Management to proffer solutions.
• Ensure accurate reporting of advances by ensuring offsetting of matching payable and advance transactions for monthly management account, quarterly reports and Annual Reports.

Financial Reporting & Compliance:

• Oversee the accurate posting of customer receipts, credits, adjustments, and write-offs in the financial system.
• Prepare regular management reports on receivables status, including aging analysis, days sales outstanding (DSO), and collection efficiency.
• Perform periodic (quarterly) impairment assessment of receivables (ECL) in line with IFRS 9 Financial
• Support month-end and year-end closing processes with timely data submission and reconciliations.
• Ensure compliance with internal controls, accounting standards, and audit requirements.
• Collaborate with internal and external auditors during audits to provide necessary documentation and support findings.

Process Improvement & Stakeholder Coordination:

• Work closely with relevant stakeholder to ensure alignment between billing, delivery, and payment processes.
• Serve as a key liaison between Finance and Franchises  to resolve billing issues and improve payment experiences.
• Recommend and implement improvements to streamline invoicing, collections, and reporting workflows.
• Train and supervise junior staff within the accounts receivable team to enhance productivity and accuracy.
• Participate in ERP/system upgrades or enhancements related to accounts receivable modules.

Key Performance Indicators

• Number of invoices processed per day
• Average time per invoice processed
• Percentage of invoice exceptions
• Percentage of overdue receivable
• Customer satisfaction with the billing and payment process
• Compliance with internal controls and procedures

Requirements

• A good first degree in Accounting or Finance
• Membership of ICAN, ACCA, or any other related professional degree is an added advantage
• A minimum of 4-5 years’ experience

Knowledge Requirements:

• Strong knowledge of credit control principles and collections best practices
• Proficiency in accounting software (e.g., SAP, Oracle, QuickBooks, Tally)
• Excellent analytical and numerical skills
• Familiarity with financial reporting systems and GL reconciliation
• Knowledge of tax regulations and invoicing requirements.

Decision Expectations:

• Facilitate the payment of invoices due
• Generate financial statements and reports detailing accounts payable status
• Ensure timely entry of invoices for payment
• Support other accounting functions.

Working Condition:

• Jobholder typically work 40 hours per week, Monday to Friday, although some roles may involve weekend or evening work. 
• This role is largely office-based, and requires the job holder to strongly pay attention to detail. 
• Like other accounting positions, it involves a lot of papers and documents. Job role holder needs to have a well-organized system to match the right documents to the right files and payments. 
• Additionally, prioritizing payments based on due dates, amounts and the relationship with the payee is important.