Accountant-Receivables

Accountant-Receivables

Job Title: Accountant-Receivables

Location: Nairobi, Kenya

Employment Type: Full-time

Application Deadline: May 10th, 2024

Apply at: Institution of Engineers of Kenya Career Portal

Introduction: Join a dynamic team at the Institution of Engineers of Kenya (IEK), a leading professional body committed to promoting engineering excellence and fostering innovation. We are currently seeking a skilled and motivated Accountant-Receivables to join our finance department. If you’re passionate about finance, possess strong analytical skills, and thrive in a collaborative environment, we encourage you to apply.

Key Responsibilities:

As an Accountant-Receivables, you will:

1. Manage accounts receivable functions, including invoicing, collections, and reconciliation.
2. Monitor and track outstanding receivables, ensuring timely payment and resolution of discrepancies.
3. Prepare and analyze aging reports to assess the status of accounts receivable and identify areas for improvement.
4. Collaborate with internal stakeholders to resolve billing issues and ensure accurate and timely invoicing.
5. Maintain accurate records of financial transactions and update accounting databases and spreadsheets.
6. Prepare monthly, quarterly, and annual financial reports related to accounts receivable activities.
7. Assist in the development and implementation of policies and procedures to streamline receivables processes.
8. Conduct periodic audits of accounts receivable to ensure compliance with organizational policies and regulations.
9. Provide support during financial audits and respond to inquiries from auditors regarding receivables.
10. Stay updated on industry best practices and regulatory changes related to accounts receivable management.

Qualifications:

To be successful in this role, you should have:

• Bachelor’s degree in Accounting, Finance, or a related field.
• Proven experience working in accounts receivable or a similar financial role.
• Strong knowledge of accounting principles and practices.
• Proficiency in accounting software and Microsoft Excel.
• Excellent analytical and problem-solving skills.
• Attention to detail and accuracy in financial record-keeping.
• Effective communication and interpersonal skills.
• Ability to work independently and collaboratively in a fast-paced environment.
• Relevant professional certification (e.g., CPA) is preferred but not required.

Benefits:

• Competitive salary commensurate with experience.
• Comprehensive health insurance coverage.
• Retirement savings plan with employer contributions.
• Professional development opportunities.
• Flexible work schedule and remote work options.
• Supportive and inclusive work environment fostering career growth and advancement.

How to Apply:

Interested candidates should submit a cover letter and resume with at least three referees through our recruitment portal on our website by the application deadline. Only applications received through the portal will be considered for review.

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SAMPLE COVER LETTER FOR AN ACCOUNTANT-RECEIVABLES POSITION

Dear [Hiring Manager’s Name],

I am writing to express my interest in the Accountant-Receivables position at the Institution of Engineers of Kenya, as advertised. With a Bachelor’s degree in Accounting and three years of experience in accounts receivable management, I am confident in my ability to contribute effectively to your finance team.

In my previous role at XYZ Company, I successfully managed accounts receivable processes, including invoicing, collections, and reconciliations. I implemented strategies to improve cash flow and reduce outstanding receivables, resulting in a 20% reduction in overdue payments within six months. My attention to detail and strong analytical skills enabled me to identify discrepancies and resolve billing issues promptly, ensuring accurate financial reporting.

I am impressed by IEK’s commitment to promoting engineering excellence and fostering innovation in Kenya. I am eager to bring my expertise in accounts receivable management to support the organization’s financial objectives and contribute to its continued success.

Thank you for considering my application. I look forward to the opportunity to discuss how my skills and experiences align with the needs of IEK. Please find attached my resume for your review.

Sincerely,

[Applicant’s Name]

HOW TO BE A SUCCESSFUL APPLICANT FOR THE ACCOUNTANT-RECEIVABLES POSITION

1. Tailor your resume and cover letter to highlight relevant skills and experiences in accounts receivable management.
2. Research the Institution of Engineers of Kenya and familiarize yourself with its mission, values, and culture to demonstrate genuine interest during the interview.
3. Showcase your proficiency in accounting software and Microsoft Excel by providing specific examples of your achievements in financial data analysis and reporting.
4. Prepare to discuss your approach to resolving billing discrepancies and managing overdue accounts during the interview process.
5. Highlight your ability to work independently and collaboratively in a fast-paced environment, emphasizing your contribution to team success.
6. Obtain professional certification, such as CPA, to enhance your qualifications and demonstrate your commitment to career advancement in finance.
7. Seek feedback from colleagues or mentors to refine your application materials and interview skills for maximum impact.
8. Demonstrate your understanding of industry best practices and regulatory requirements related to accounts receivable management.
9. Be proactive in asking questions during the interview to gain insights into the organization’s expectations and future plans for the finance department.
10. Follow up with a thank-you email expressing gratitude for the opportunity to interview and reiterating your interest in the position.

Possible Accountant-Receivables Interview Questions With Answers:

1. Question: Can you walk us through your experience in managing accounts receivable processes? Answer: Certainly. In my previous role at XYZ Company, I was responsible for invoicing clients, tracking payments, and reconciling accounts receivable ledgers. I implemented automated billing systems to streamline the invoicing process and conducted regular audits to ensure accuracy.
2. Question: How do you prioritize tasks when dealing with multiple overdue accounts? Answer: I prioritize overdue accounts based on their age and outstanding balances. I start by contacting clients with the highest overdue balances and work my way down the list, following up with reminders and payment arrangements as needed.
3. Question: How do you handle disputes or discrepancies in customer invoices? Answer: When faced with disputes or discrepancies, I first review the original contract terms and documentation to identify the source of the issue. I then communicate with the client to understand their concerns and work towards a resolution that is fair and mutually beneficial.
4. Question: How do you ensure compliance with accounting regulations and company policies in accounts receivable management? Answer: I stay informed about changes in accounting regulations and company policies through continuous professional development and training. I also maintain detailed records of financial transactions and adhere to standardized procedures to ensure compliance at all times.
5. Question: Can you provide an example of a time when you successfully reduced the average days sales outstanding (DSO) for a company? Answer: At my previous company, I implemented a proactive collections strategy that included regular follow-ups with clients and offering early payment incentives. As a result, we were able to reduce our DSO by 15% within the first quarter, improving cash flow and liquidity.

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We wish you the best in your job search and thank you for considering a career with the Institution of Engineers of Kenya. Our organization is committed to attracting and retaining the best employees from all backgrounds in our pursuit of becoming a premier development partner. We are an equal opportunity employer and do not charge any application/recruitment fees, whether refundable or not.

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