Note: This is 3rd Party Payroll Job with Samsung

The Accounts Payable & Receivable Manager is responsible for overseeing and managing the day-to-day operations of the accounts payable (AP) and accounts receivable (AR) functions within the company. This role ensures the efficient processing of invoices, payments, and collections, while maintaining accurate financial records and optimizing cash flow management. The ideal candidate will be detail-oriented, possess strong organizational skills, and have a solid understanding of accounting principles.

Job Description: Accounts Payable & Receivable ManagerJob Title: Accounts Payable & Receivable Manager

Department: Finance/Accounting

Reports To: Finance Manager / Controller / Chief Financial Officer (CFO)

Location: [Company Location]

Job Type: Full-Time

Job Summary:The Accounts Payable & Receivable Manager is responsible for overseeing and managing the day-to-day operations of the accounts payable (AP) and accounts receivable (AR) functions within the company. This role ensures the efficient processing of invoices, payments, and collections, while maintaining accurate financial records and optimizing cash flow management. The ideal candidate will be detail-oriented, possess strong organizational skills, and have a solid understanding of accounting principles.

1. Key Responsibilities:Accounts Payable (AP) Responsibilities:Invoice Management:
2. 
   

• Receive, verify, and process vendor invoices.
• Match invoices to purchase orders and receiving reports to ensure accuracy.
• Investigate and resolve discrepancies or issues with invoices.

1. Payment Processing:
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• Schedule and process timely payments to vendors and suppliers.
• Ensure payments are made within the agreed-upon terms and within company budget.
• Prepare payment runs, including electronic funds transfers (EFT), checks, and other methods of payment.

1. Vendor Relations:
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• Build and maintain positive relationships with vendors by addressing inquiries and resolving issues.
• Negotiate payment terms and discounts with vendors where possible.
• Handle disputes, returns, or product/service issues that affect payments.

1. Reconciliation & Reporting:
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• Reconcile accounts payable ledgers and assist with monthly/quarterly/year-end financial closing.
• Prepare reports on outstanding liabilities and provide insights into cash flow needs.
• Ensure all payments and invoices are recorded accurately in the accounting system.

1. Compliance & Documentation:
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• Maintain proper records of invoices, payment receipts, and supporting documentation for audit purposes.
• Ensure that all AP activities comply with company policies, tax regulations, and financial reporting requirements.

1. Accounts Receivable (AR) Responsibilities:Invoice Creation and Billing:
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• Generate accurate invoices for customers based on products/services delivered.
• Review contracts, purchase orders, and customer agreements to ensure proper billing terms.
• Send invoices to clients promptly and in accordance with agreed-upon terms.

1. Collections & Cash Flow Management:
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• Monitor accounts receivable aging reports and follow up on overdue invoices.
• Contact customers to ensure timely payment, and work with clients to resolve issues or disputes.
• Establish payment plans or negotiate revised payment terms with customers when necessary.

1. Payment Application:
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• Accurately record incoming payments from customers, including checks, credit cards, and wire transfers.
• Ensure payments are applied to the correct accounts and invoices in a timely manner.
• Investigate and resolve payment discrepancies or shortfalls.

1. Credit Control:
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• Establish and enforce company credit policies for customers to mitigate the risk of bad debt.
• Set credit limits and payment terms for new and existing customers.
• Review and evaluate the financial health of customers to adjust credit limits as needed.

1. Reconciliation & Reporting:
2. 
   

• Reconcile accounts receivable ledgers and assist in monthly, quarterly, and year-end closing processes.
• Provide regular reports on aged receivables, collections progress, and cash flow forecasts.
• Analyze trends in collections and make recommendations to improve cash flow.
• General Responsibilities:Cross-Functional Collaboration:
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• Work closely with the sales and purchasing departments to resolve billing, collections, and payment-related issues.
• Collaborate with the finance team to provide accurate and timely financial reports.
• Financial Reporting & Analysis:
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• Assist in the preparation of financial statements, including balance sheets and cash flow statements.
• Provide key insights into cash management, working capital, and liquidity.
• Process Improvement:
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• Continuously evaluate and streamline the accounts payable and receivable processes for efficiency.
• Implement best practices to reduce the time between invoice receipt and payment/collection.
• Recommend and implement automation solutions where applicable (e.g., invoicing, payment processing).
• Audit and Compliance:
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• Support internal and external audits by providing necessary documentation and reports.
• Ensure compliance with company policies, accounting standards, and legal regulations related to payables and receivables