Accounts Receivable Specialist

Job description

We are seeking a highly skilled and detail-oriented AR Specialist to join our Finance team. The AR Specialist will be responsible for validating various types of retail allowances, processing incoming payments, performing cash applications, reconciling customer accounts, processing write-offs, and maintaining accurate financial records.
The ideal candidate should have 2 to 3 years of experience in retail allowance validation and cash application, preferably within the US retail market. The candidate must possess strong analytical and problem-solving skills, a solid understanding of accounting principles, and proficiency in using ERP systems and Microsoft Excel. The ability to maintain accuracy in a high-volume work environment, meet deadlines, and resolve discrepancies efficiently is essential for this role.

Responsibilities

• Validate contractual and promotional allowances against customer agreements, approved promotional terms, and supporting documentation.
• Review allowance percentages, eligible sales, applicable periods, and deduction calculations to ensure accuracy and compliance with agreed terms.
• Validate damages and return deductions by reviewing customer claims, supporting documents, return credits, and applicable company policies.
• Investigate and resolve discrepancies related to allowances, promotional claims, damages, and returns in coordination with Sales, Billing, Cash Application, Compliance, Operations, and customers.
• Process write-offs for validated and approved allowances, damages, and returns in accordance with company procedures.
• Monitor and follow up on outstanding allowance, damage, and return deductions to ensure timely resolution.
• Perform monthly reconciliations of allowance validations and write-offs to ensure accurate financial records.
• Prepare regular reports on allowance validations, damages, returns, deductions, and write-offs, providing analysis as required.
• Report on customer-wise allowance accrual deductions to the Finance team to support accurate financial reporting and reconciliation.
• Present allowance validations, accrual deductions, and supporting details to clients during meetings and address their queries.
• Maintain accurate records of customer agreements, promotional terms, claims, validations, write-offs, and supporting documentation.
• Collaborate with the Compliance team and other internal teams to improve validation processes, strengthen controls, and reduce invalid or unsupported deductions.
• Ensure all validation activities, reports, reconciliations, and follow-ups are completed accurately and within established deadlines.

Requirements:

• Bachelor's degree in accounting, Finance, Mathematics, or a related field.
• 2 to 3 years of experience in Order-to-Cash (O2C), Accounts Receivable (AR), or a related finance function.
• Experience with US retail store allowances will be an added advantage.
• Strong understanding of accounting principles, financial processes, and accounts reconciliation.
• Proficiency in ERP systems, Microsoft Excel, and other financial tools.
• Excellent attention to detail and accuracy in processing, analyzing, and reconciling financial data.
• Strong analytical, critical-thinking, and problem-solving skills.
• Excellent written and verbal communication skills.
• Ability to work independently, manage multiple priorities, and meet deadlines.
• Experience working in a fast-paced, high-volume environment is preferred.
• Knowledge of various types of retail allowance validation, including trade discounts, promotional allowances, deductions, and chargebacks, will be an added advantage.