Description:
The Credit & Collections Representative is responsible for setting up new accounts in their assigned region, establishing and re-evaluating customer credit limits, daily collection activities of accounts receivables including reconciling accounts, charge backs and interacting with customers for W.A.C Lighting.
Critical Success Factors:
1. Handle all functions related to Credit & Collections including setting up new accounts in assigned region
2. Release orders pursuant to a review and on outstanding account issues
3. Process and apply payment when necessary.
4. Resolve lock box exceptions and payment exceptions
5. Review and evaluate credit limits for existing customers and provide recommendations
6. Analyze financial statements and balance sheets of customers to recommend granting or denying extension of credit
7. Assists with special projects
Objectives:
1. Responsible for Credit & Collections function for WAC lighting. Managing collections through the customer, sales representative and or vendors. This includes maintaining current accurate customer records on the SAP Operating System by documenting account activity, promptly and accurately reviewing payments received, applying deposits and credits to outstanding balances.
2. Reconcile customer accounts with attention to discounts, deductions and short payments. Work with the Customer, Account Managers and Sales Representative to resolve discrepancies.
3. Review the status of outstanding accounts. Handle collections by contacting customers for delinquent and over credit limit accounts. When necessary, write collection and service correspondence and follow up to receive outstanding payments due. May work closely with appropriate Sales Rep to facilitate collection action.
4. Analyze held orders and determine if orders are to be released. Release orders and approve shipments based on a careful review of past due or credit issues and differentiating between credit and sales worthy accounts. Follow up with appropriate Sales Rep on orders that are not released. Establish and maintain account files and ensure all account terms are current and accurate. Handle requests for special handling of overseas customers.
5. Responds to credit inquiries from other vendors on existing customers. Initiates and processes credit limits for existing and new customers, which includes bank, trade references and financial statements.
6. Maintain files on deductions by investigating via root cause analysis, reporting on and resolving outstanding issues with each customer. Work closely with Returns Department to verify returns and update invoice files. Work closely with Sales Department to understand and document discounts or discrepancies.
7. Report and analyze monthly DSO, credit reviews, payment trends and problem accounts to management
8. Work closely with sales to solidify jobs, customer relationships and resolve disputes.
