Debtors Controller
Posted on 2025-03-30
| Employer | Riseup Management |
|---|---|
| Salary | 0 |
| Category | Finance Accounting |
| Location | Kwazulu Natal / Durban |
Job Summary
Responsibilities:
Debtors Controller
- Responsible for managing the debtor ledger, issuing invoices, following up on overdue accounts, and reconciling payments.
Sales/Support Teams
- Provide necessary documentation and support for invoicing and dispute resolution.
Finance Team
- Assist with reconciliations and reporting.
Procedures
Opening of Debtor Accounts:
- 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
Credit Note Processing:
- Ensure credit note documents are completed correctly and signed off by the departmental head
- No credit note is to be processed without prior approval.
Payment Tracking
- 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.
Follow-Up on Overdue Accounts
- 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
Dispute Resolution
- 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.
Reporting
- 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.
Key Performance Indicators (KPIs)
- Percentage of overdue accounts
- Average days sales outstanding (DSO)
- Bad debt as a percentage of total sales
- Collection effectiveness index (CEI)
Tools and Systems
- Accounting software IQ Retail
Compliance
Ensure compliance with company policies, accounting standards, and legal requirements.
Maintain confidentiality of customer information.
Debtors Controller position available in Kwazulu-Natal, Durban. This job position was posted by Riseup Management. The job has been posted as a char8000 ad on 2025-03-30 at 01:09:30 in the Finance Accounting category
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