Account Executive (Accounting)

Payable and Receivable Management is the systematic process of controlling money owed by customers (receivables) and money owed to suppliers (payable). It ensures optimal cash flow by accelerating collections and strategically timing payments to maintain liquidity and strong client relationships. Key activities include invoicing, credit control, and timely Client payments. 

Key Aspects of Payable/Receivable Management:

• Accounts Receivable Management (Inflow): Focuses on tracking customer credit sales, reducing bad debts, sending timely invoices, and ensuring payments are collected within the agreed time frame. Key goals are to minimise the cash conversion cycle and improve liquidity.
• Accounts Payable Management (Outflow): Involves managing obligations to vendors, such as taking advantage of early payment discounts, managing payment timing, and maintaining good supplier relationships.
• Importance: Effective management prevents cash shortages, optimises working capital, and enhances financial stability. 

Key Processes:

• Receivables: Credit policy development, invoicing, and dunning (reminders).
• Payables: Invoice verification, approval workflows, and payment scheduling.