Accounts Receivable Specialist

Job Purpose:

Responsible for company's billing and collections process, ensuring timely payments for goods and services. This role involves creating and sending invoices, tracking payments, following up on overdue accounts, and maintaining accurate financial records. Strong communication, organizational, and problem-solving skills are essential, as is an understanding of construction-specific billing practices like progress billing and lien waivers.

Key Responsibilities:

Billing and Invoicing: Prepare and issue invoices to clients for completed work, ensuring accuracy and adherence to contract terms, including progress billing and change orders. 

Payment Tracking and Processing: Monitor incoming payments, reconcile them with invoices, and apply them to the correct accounts. 

Collections: Follow up on overdue accounts, contacting clients via phone, email, or mail to ensure timely payment. 

Lien Waiver Management: Prepare and request lien waivers and certificates of insurance, ensuring compliance with state and federal regulations. 

Financial Reporting: Generate reports on accounts receivable status, aging reports, and other relevant financial data for management review. 

Reconciliations: Reconcile accounts receivable with the general ledger and bank statements. 

Dispute Resolution: Investigate and resolve billing discrepancies or payment disputes with clients or subcontractors. 

Record Keeping: Maintain accurate and organized records of all invoices, payments, and other financial transactions related to accounts receivable. 

Compliance: Ensure compliance with relevant laws, regulations, and company policies related to billing and collections. 

Collaboration: Work closely with project managers, contract administrators, and other team members to ensure smooth billing and payment processes. 

Skills and Qualifications:

Knowledge of Construction Industry Practices: Understanding of progress billing, lien waivers, and other construction-specific billing practices is crucial. 

Strong Accounting Skills: Experience with accounts receivable processes, including invoicing, payment processing, and collections. 

Excellent Communication Skills: Ability to communicate effectively with clients, subcontractors, and internal team members. 

Organizational and Time Management Skills: Ability to manage multiple tasks, prioritize effectively, and meet deadlines. 

Problem-Solving and Analytical Skills: Ability to investigate and resolve discrepancies and disputes. 

Proficiency in Accounting Software: Familiarity with accounting software such as QuickBooks, Foundation Software, or similar systems. 

Attention to Detail: Accuracy and attention to detail are essential for maintaining accurate financial records.