Accounts Receivable & Collections Specialist
Position Overview:
We are seeking a detail-oriented Collections Specialist / Accounts Receivable Specialist with experience working with contractors. This role is responsible for managing outstanding invoices, following up on overdue payments, and ensuring the timely collection of accounts receivable while maintaining strong client relationships. The ideal candidate will have a solid understanding of lien rights, contract terms, and payment applications related to contractors and subcontractors.
Key Responsibilities:
Accounts Receivable & Collections:
- Monitor and manage accounts receivable balances, ensuring timely collection of payments from general contractors, subcontractors, and clients.
- Contact clients via phone, email, and written correspondence to follow up on outstanding invoices.
- Research and resolve discrepancies related to payments, billing errors, or disputes.
- Process customer payments and apply them to the appropriate accounts.
- Maintain accurate records of collection efforts, communications, and payment commitments.
- Ensure compliance with lien laws, preliminary notices (e.g., Notice to Owner - NTOs), and waivers/releases of lien as required for payment processing.
- Build strong relationships with clients, general contractors, and subcontractors to facilitate timely payments.
- Address client inquiries related to invoices, payment terms, and outstanding balances.
- Work with clients to negotiate payment plans when necessary while adhering to company policies.
Reporting & Reconciliation:
- Prepare aging reports and provide regular updates on collection efforts and outstanding balances.
- Reconcile accounts receivable ledger to ensure accurate reporting.
- Assist in month-end closing and financial reporting related to accounts receivable.
- Identify trends in late payments and recommend strategies for improving cash flow.
Education & Experience:
- Associate’s or Bachelor’s degree in Accounting, Finance, Business Administration, or related field (preferred but not required).
- 3+ years of experience in accounts receivable and collections—preferably in the HVAC industry or similar.
- Experience working with general contractors, subcontractors, and vendors.
Skills & Knowledge:
- Strong communication and negotiation skills to manage collections professionally.
- Proficiency in accounting software ( Sage 300 or similar) and Microsoft Excel.
- Ability to analyze aging reports and identify collection strategies.
- Detail-oriented with strong problem-solving skills.
- Preferred Experience (Not Required but a Plus):
- Experience with mechanic’s lien laws
- Bilingual (English/Spanish) is a plus.
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