Collections and Deductions Analyst
DataStaff, Inc. is currently seeking a Collections and Deductions Analyst for a contract to hire opportunity with one of our direct clients.
*This position is hybrid 2 Days in an office so needs to live near Orlando, Florida, Dothan, Alabama or Conshohocken, Pennsylvania.
This position will require compliance with any COVID-19 vaccination policies that are promulgated by DataStaff, Inc.’s client and/or state, and local laws.
- Monitor and track the daily analysis of customer disputed invoices/short-payments on a very high volume-based activity.
- Perform analysis of customer accounts based on the customer's purchases, payment history, credit worthiness, credit limit exposure and our business strategy.
- Track and evaluate past due A/R accounts to reduce the risk of credit exposure
- Evaluate credit worthiness of accounts and determine proper account order hold or releases
- Ability to research cash application matters on customer account
- Evaluate aged items for bad debt write off and refund analysis
- Perform offsetting adjustments to ensure customer account balances are properly stated
- Contact customers to secure payment on overdue balances, issues resolution on open items
- Provide guidance and support to Sales and Operations Managers, Logistics, Common carrier disputes, outside Distribution operations about the release of orders to accounts that have aged accounts receivable.
- Maintain a strong cross functional communication with Sales, Logistics, and Management regarding identified account risks, potential credit problems, disputes and customer comments. Identify and escalate as necessary.
- Provide monthly and ad-hoc reports and updates to key stakeholders
- Maintain and manage all data related to customer discounts, allowances and other deductions in SA Track work on deductions issues unless the issue is resolved
- Research Cash Applications done on customers from Bank Statements
- Following SOP business rules, and through case creation, generate a credit memo where applicable to resolve customer financial disputes.
- Ensures GAAP, SOX and Watts policies and procedures are adhered to and the ongoing operation, maintenance and controls of the AR system;
- Ensure proper SOX documentation on customer accounts, credit memo issuance and approvals
- Support audits of deductions, payments and write-offs
- Identify and assist in the preparation of accounts for placement with collection agencies or 3rd Party activity.
- Financial recovery of invalid disputed customer account receivables balances
- Negotiate and structure payment plans
- Ensure customer accounts are accurately stated in adherence to US GAAP
- Recommend write offs for uncollectable open invoices and disputed balances
Knowledge and Skills:
- Associate Degree in Accounting or Finance, but Bachelor's Degree preferred
- 5 years – A/R software experience for large corporations such as SAP, Oracle, etc.
- 5 years – A/R Dispute resolution experience in a large organization, working with vendor portals
- 5 years – Cash Application research and analysis
- 5 years – Working with functional groups and different level of employees throughout the organization to achieve business results effectively and professionally
- 5 years – Following GAAP and SOX requirements in a publicly traded company
- Must have Advanced Excel skills: writing advanced formulas, Pivot Tables, V-lookups.
- Ability to work in a global team environment
This opportunity is available as a W2 position with a competitive benefits package. DataStaff, Inc. offers medical, dental, and vision coverage options as well as paid vacation, sick and holiday leave. As many of our opportunities are long-term, we also have a 401K program available for employees after 6 months.