Financial Operations Associate
1 week ago
We are seeking a meticulous Financial Operations Associate to join our team at Chefs Training & Innovation Academy. This role is crucial in ensuring accurate billing and managing overdue accounts, fostering collaboration, growth, and a strong sense of community.
Key Responsibilities- Verify and sign-off on the completeness and accuracy of customer enrolment contracts in conjunction with the sales and operations department.
- Assist with the calculation and negotiation of payment plans for customer contracts, changes in programs, and program cancellations.
- Create and maintain accurate customer master account information on the financial system.
- Setup, maintain, and process accurate annuity billing on the financial system for approved payment plans as per customer contracts and contract addendums.
- Generate and issue accurate and timely customer quotations (proforma invoices), customer invoices, and credit notes.
Customer Receipts
- Setup, run, and monitor customer debit order payments as per customer debit order mandate schedules.
- Record and allocate all payments received from customers, students, parents, or financiers accurately in the financial system.
- Monitor and follow-up on unallocated incoming customer payments to identify the source of monies received.
Account Reconciliation
- Reconcile individual customer accounts in the accounts receivable ledger and ensure all transactions are correctly accounted for.
- Identify and resolve discrepancies, issues, and credit balances in respect of customer accounts in a timely manner.
- Prepare and record customer journals as and when required in the financial system.
Collections
- Prepare and send monthly accounts receivable statements to students or financiers.
- Facilitate payment of invoices due by sending payment reminders and contacting clients.
- Monitor and follow-up on overdue accounts through phone calls, emails, and overdue account letters to ensure timely payments and chargebacks in accordance with company procedures.
- Alert superiors and relevant parties when debtors are unwilling or unable to pay, when necessary, as per company procedures.
Customer Service
- Provide support and assistance to customers regarding billing queries.
- Liaise with other departments to resolve any account-related issues.
- Perform periodic customer account verifications in accordance with agreed company procedures.
Reporting
- Prepare monthly customer aging reports for management.
- Prepare regular reports on the status of accounts receivable and outstanding debts for management.
Compliance and Administration
- Ensure that accounts receivable records comply with institutional policies and relevant financial regulations.
- Maintain organized and up-to-date records of all accounts receivable transactions and customer account activities.
This role requires 5 years of working experience as a Debtors Clerk, preferably within the Training/Education Sector. A valid South African ID/Passport or Work Permit and a valid driver's license are also essential requirements.
Salary: R350,000 - R450,000 per annum based on location and experience.
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