Purpose of Position
Timely and complete completion of payments for supplies
Coordinating corporate resources to collect payments in meeting with the company’s credit policy and payment collection targets.
The Stock / Inventory Officer is accountable for :
Communication of Sweet Nation Foods’ credit policy to customers
Ascertaining customer payment policy and informing Sweet Nation Foods’ management
Negotiating, deciding, documenting supply terms for each customer
Communicating agreed supply terms to the delivery and sales team
Enforcement of sales / delivery team adherence to supply payment terms for each customer
Maintaining direct lines of communication with customers for receivables verification and audit
Verification of address and contact information of new retailers and their staff (both in-state and out-of-state)
Conducting random periodic receivables verification and audit
Providing weekly updates to sales / delivery team of accounts receivables (AR) status
Creating weekly plan and task assignment for sales and delivery team to collect receivables (Dictating operations for sales and delivery team collection of receivables)
Setting deadlines for sales / delivery team to collect payments
Prepare reports of accounts receivables periodically (weekly, monthly) and by location
Following-up on past-due invoices till payments are collected (phone calls, emails, texts, letters, and physical visits)
Negotiating and settling non-payment disputes with customers efficiently (request for payment letters, sales order summaries, specific customer online payment record)
Keeping track of all payments outstanding or unpaid by the company’s customers
Investigation and resolution of unknown online payments
Reduction of Bad debt
Prepare periodic reports (weekly / monthly) making forecasts on payment flow
Formulate tactics and strategies to reduce receivables over short and medium term.
Review of previous day’s supply and payment collection report
Receive proposed daily supply list from Sales rep
Review and approve daily supply list and return to sales rep
Formulate daily payment collection list
Review online payments entry workbook
Call, email and text customers with past-due invoices
Investigate unknown online payments using (5-step unknown payment approach).
Generation of complete Accounts Receivables statement and aged account
Generation of Accounts Receivables by State statement
Generation of Accounts Receivables by Delivery Personnel statement
Creation of weekly payment-collection plan and lists (with deadlines and staff assignments)
Creation and issuing of request for payment letters (F.C.T and Out-of-State).
Calculation of Complete Days Sales Outstanding (DSOs)
Calculation of Days Sales Outstanding by state
Calculation of Days Sales Outstanding by Delivery Personnel.