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Accounts Receivable Specialist
Closing Date: August 2, 2010
| Company: | Ferring Pharmaceuticals, Inc.
Parsippany, NJ |
| Job Location: |
Parsippany - Morris County
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| Employment Type: | Full Time |
| Department: | Finance |
| Benefits: | Medical Coverage, Dental Coverage, Prescription Drug Coverage, Fertility Drug Benefit, Life Insurance, Accidental Death & Dismemberment, Insurance, Short Term Disability Insurance, Long-term Disability Insurance, Health Care Flexible Spending, Account, Dependent Care Flexible Spending Account, Employee Assistance Program, 401(K) Program, Vacation Program, Personal Days, and Holidays. |
Description: | Job Summary:
Responsible for posting of accounts receivable deposits and adjustments to the proper accounts and open invoices. Collect past due receivables from customers and reconcile customer deductions and credits. Prepare accounts receivable analyses.
Essential Responsibilities:
• Cash application:
• Process and post daily lockbox and wire remittance deposits to the appropriate customer account and invoices, ensuring reconciliation of the batch.
• Analyze customer accounts at the time of application for any skipped or partial payments, or customer errors. Contact customers immediately to resolve any remittance discrepancies.
• Enter and maintain description codes for customer deductions and discrepancies to facilitate AR analysis and follow-up.
• Flag and communicate any invoicing or credit memo errors identified when applying remittances.
• Interface with bank and resolve any batch or returned check issues.
• Log any live checks received in the office and transmit to lockbox.
• Collect past-due receivables:
• Review customer balances as directed by supervisor to identify past due accounts
• Contact customers to collect past due amounts. Identify any reasons for non-payment and develop plans with supervisor on how to resolve.
• Document results of contacts. Track and follow-up on customer commitments.
• Handle customer receivable inquiries.
• Generate and issue customer statements of account and dunning letters.
• Resolve customer deduction issues:
• Interface with customer to obtain documentation. Analyze and ensure appropriately authorized.
• Analyze deductions and credits in customer accounts, identifying items to net, items to follow-up with customer, and items requiring potential write-off
• Escalate unresolved issues, tracking to final resolution.
• Accounts Receivable analysis and reporting
• Generate AR aging reports and identify critical issues
• Prepare monthly accounts receivable reporting package, including analyses of days sales outstanding and bad debt reserves.
• Interface with customer service, sales organizations and senior level management in communicating and resolving issues.
Qualification requirements:
• College degree or equivalent experience required.
• Two to five years experience in a corporate accounts receivable, credit or collections function preferred.
• Excellent interpersonal skills are required to handle inquiries from co-workers, vendors and customers.
• Analytical skills are required in order to identify and reconcile data discrepancies.
• Strong Excel spreadsheet skills required. Knowledge of Access, Word and Powerpoint also preferred.
• Ability and maturity to work independently or as part of a team.
• Familiarity with computerized accounts receivable, accounts payable and general ledger systems.
• Pharmaceutical industry experience helpful.
The above is intended to describe the essential job functions and requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities or requirements.
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