Assistant Manager - Accounts receivable

Company Description

WinMagic Toys Ltd is dedicated to spreading joy among kids and families by marketing and distributing a wide range of world-class toys, games, and kids merchandise. With a strong presence in both offline and online retail, the company has established itself as a preferred partner for international brands seeking to enter the Indian market. Committed to innovation and customer satisfaction, WinMagic creates differentiated product categories and drives impactful marketing campaigns. As an employee-oriented organization, the company empowers its team members to achieve their personal and professional dreams in a supportive environment.

Job Summary:

The Assistant Manager - Accounts Receivable is responsible for managing the full lifecycle of accounts receivable activities, including invoicing, cash application, collections, and receivables accounting. This role ensures accurate and timely processing of transactions, follows up on overdue accounts, and maintains proper documentation to ensure cash flow is optimized while minimizing credit risk.

Key Responsibilities:

Invoicing and Billing:

Ensure the timely and accurate preparation and issuance of invoices to customers. Verify that invoices reflect correct payment terms, pricing, and discounts, and ensure they comply with contractual agreements.

Receivables Accounting:

Maintain and manage accounts receivable transactions in the general ledger, ensuring that they are recorded accurately and in compliance with accounting standards and company policies.

Cash Application:

Accurately apply customer payments to outstanding invoices and ensure all payments are recorded correctly in the system. Identify and resolve discrepancies related to payments and apply cash to the correct accounts.

Collections:

Proactively follow up with customers on overdue accounts to ensure timely payment. Communicate with customers regarding outstanding balances, address payment issues, and negotiate payment arrangements as needed.

AR Aging and Reporting:

Regularly review and analyze the AR aging report to identify overdue and problematic accounts. Generate and analyze AR reports for management, highlighting trends and providing insights into overdue payments and cash flow.

Reconciliation and Discrepancy Resolution:

Reconcile customer accounts, investigating and resolving discrepancies related to payments, invoices, and credits. Work closely with the finance team to ensure the integrity of financial reporting.

Credit Risk Management:

Monitor customer credit terms and limit settings, ensuring they are consistent with customer payment histories and financial stability. Work with the finance team to adjust credit terms for high-risk accounts and minimize the company's exposure to bad debt.

Process Improvement:

Identify areas for improvement in the AR process, suggest and implement efficiencies, and help streamline the collections process to improve cash flow and reduce days sales outstanding (DSO).

Internal Coordination:

Collaborate with the sales, customer service, and other internal departments to ensure accurate billing and timely resolution of payment disputes or discrepancies.

Compliance and Documentation:

Ensure compliance with internal controls, financial regulations, and company policies in all aspects of accounts receivable processing. Maintain accurate and up-to-date records of customer transactions and communications.

Qualifications

• Strong knowledge of Accounting and Finance principles
• Proficiency in managing Invoicing and Credit Management processes
• Excellent Analytical Skills to monitor, evaluate, and improve accounts receivable systems
• Bachelor's degree in Accounting, Finance, or a related field
• Attention to detail and problem-solving abilities
• Proficiency in accounting software and tools
• Experience in managing accounts receivable processes is an added advantage