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This position is to supervise the procedures used within to collect on the monies owed the company for products provided and/or services rendered. It is important that while outstanding accounts are resolved that they are done so as to maintain a favorable relationship with its customers whether they be individuals or businesses.
Opportunities to establish and extend lines of credit as well as acquiring discounts for such things as early payments and payments in full may be sought. This individual should also be aware of upcoming invoices that may be paid and should consider a standard system of aging such accounts. Such an account receivables process to age accounts as those which are outstanding for (30, 60, 90, 120+ days). For such accounts this person is to oversee the collection process of the company from letters, phone calls to collection agencies. They should be able to project when monies may be paid and such information is made known to management.
This person is also responsible for the stability and moral in the accounts receivable department. |
