Credit and Collection Associate

DUTIES AND RESPONSIBILITIES:
1. Account Management and Collection Efforts:
-Monitor and manage a portfolio of overdue accounts by contacting customers via
phone, email, or written correspondence to request payment.
-Follow up on overdue invoices to ensure timely payment and resolve payment-related
issues.
-Establish payment plans with customers when necessary, negotiating reasonable terms
and ensuring adherence to agreed-upon payment schedules.
2. Customer Communication:
-Communicate professionally and effectively with customers to collect payments,
offering solutions for overdue invoices.
-Address any payment disputes or inquiries in a timely manner, working with internal
teams (e.g., sales, customer service) to resolve issues and ensure customer satisfaction.
-Educate customers about the company’s payment terms, policies, and procedures to
prevent future payment delays.
3. Payment Application:
-Apply customer payments to appropriate accounts and invoices in the accounting
system, ensuring accuracy and timely processing.
-Investigate payment discrepancies or short payments, and resolve issues by
coordinating with customers and internal departments.
4. Aging Reports and Collections Tracking:
-Regularly review accounts receivable aging reports to identify delinquent accounts and
prioritize collection efforts.
-Maintain accurate records of all collection activities, customer communications, and
payment arrangements in the system.
-Update collection status and progress in the company’s CRM or accounting software to
provide real-time visibility into collection efforts.
5. Escalation and Dispute Resolution:
-Escalate unresolved issues to management or legal teams as needed, particularly in
cases of non-payment, ongoing disputes, or accounts that may require further action.
-Work with customers to negotiate settlements, payment extensions, or adjustments
when appropriate, while maintaining company policies and compliance with applicable
laws.
6. Bad Debt Prevention:
-Identify and monitor high-risk accounts and communicate potential issues with the
Credit and Collections Team Leader or Manager.
-Assist in the development and implementation of strategies to reduce the likelihood of
bad debt and improve collections processes.