Accounts Receivable Clerk - Midwest Goods : Job Details

Location: Bensenville, ILSchedule : Monday to Friday 9:00am to 6:00pmStatus : Full-Time (Exempt)Compensation : Starting at $50,000$300 Sign-on Bonus After Completion of the 90-day Probationary PeriodJob Summary:Midwest Goods Inc. is seeking a highly motivated and detail-oriented Accounts Receivable Clerk to manage and oversee all aspects of accounts receivable and collections. This role is crucial in maintaining the financial stability of the company by ensuring prompt payments, minimizing overdue accounts, and mitigating credit risks. The ideal candidate will be assertive, possess strong analytical skills, and effectively communicate with various departments, including sales, customer service, and accounting.Key ResponsibilitiesReasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.Manage Receivables and Collections: Oversee the accounts receivable process to ensure accurate and timely collection of payments.Proactively monitor customer accounts and initiate collection activities for overdue payments.Follow up on outstanding invoices using structured communication plans, including phone calls, emails, and formal notices.Implement effective procedures for high-risk accounts, including creating payment plans and setting payment deadlines.Credit Risk Assessment: Evaluate the creditworthiness of new and existing customers through thorough credit analysis.Review customer financial statements, credit history, and relevant data to assess risk levels.Approve or adjust credit limits based on data analysis and market trends.Periodically reassess credit limits for existing customers to ensure alignment with their payment history.Timely Reporting: Track and report overdue accounts, payment trends, and credit risk status to management.Generate detailed aging reports and cash flow forecasts for reviews.Present performance metrics related to collections and outstanding debts.Provide actionable recommendations to improve cash flow and reduce bad debt.Coordination with Internal Teams: Collaborate closely with sales, legal, and accounting departments to resolve payment and billing issues.Work with the sales team to understand customer concerns impacting payments.Coordinate with the legal team to manage delinquent accounts and ensure compliance with collection laws.Liaise with accounting to ensure accurate invoice and account adjustments.Optimize Cash Flow: Implement strategies to maximize cash flow, reduce Days Sales Outstanding (DSO), and effectively manage credit risks.Offer early payment incentives and discounts to encourage timely payments.Review and adjust credit terms for accounts to minimize exposure.Customer Communication and Relationship Management: Maintain strong customer relationships while ensuring adherence to payment terms.Negotiate payment plans with customers facing financial difficulties.Regularly communicate with customers about due dates and payment expectations.Dispute Resolution: Handle and resolve billing disputes promptly while preserving customer relationships.Investigate disputes and coordinate with internal teams for resolution.Maintain clear documentation of dispute resolutions.Policy Development and Enforcement: Develop and enforce credit and collections policies aligned with the company's financial objectives.Establish guidelines for credit evaluation, credit limits, and payment terms.Accounts Reconciliation: Ensure all receivables are accurately documented and reconciled with the accounting team.Conduct regular audits of accounts to identify discrepancies.Monitor Industry Trends: Stay updated on market trends, credit management practices, and collection strategies.Attend industry events and training to keep current with best practices.Improve Collection Efficiency: Continuously seek ways to enhance collection processes and efficiency.Utilize data analytics tools to identify trends in late payments and adapt strategies.Qualifications:Education: Bachelor's degree in finance, accounting, business administration, or a related field.Experience: Minimum of 3 years of experience in accounts receivable or collections, preferably in a wholesale or retail environment.Skills:Strong analytical skills with the ability to assess credit risks and make decisive recommendations.Proven track record in managing receivables and implementing effective collections strategies.Excellent negotiation skills, balancing assertiveness with maintaining positive customer relationships.Proficient in using financial software and CRM systems.Exceptional communication and reporting skills.CompetencyMaintain a low delinquency rate by ensuring prompt collection of overdue accounts.Achieve targeted reductions in Days Sales Outstanding (DSO) within the first year.Regularly update management on the status of receivables and collections, providing actionable insights.Supervisory ResponsibilityThis position has no supervisory responsibilities.Work EnvironmentThis role primarily operates in an office setting at Midwest Goods Inc. headquarters.Physical DemandsThis role requires frequent use of computers and other standard office equipment.This is largely a sedentary role, and the employee must be comfortable with sitting in front of a computer for an extended period.Position Type/Expected Hours of WorkThis is a full-time position. The days of work are Monday through Friday with work hours from 9:00 AM to 6:00 PM.TravelMinimal travel may be required for training or collaboration with other departments.Work AuthorizationMust have legal authorization to work in the United States.What We OfferAnnual Performance Review-Up to 3% at 90-day Review. Up to 8% at yearly reviewAnnual Perfect Attendance gift card CeremonyCasual Work EnvironmentEmployee Assistance ProgramEmployee Birthday Celebration with Gift Card DistributionEmployee of the Month CelebrationGenerous Paid Time off ProgramInsurance Coverage which includes; Medical, Dental, Vision and Life InsuranceMonthly Company Activities and CelebrationsMonthly Manager LunchesPaid HolidaysPotential for AdvancementSpotlight Employee Recognition401(k) with Employer MatchMidwest Goods Inc. was founded in 2014 and is a wholesale distributor of vape and electronic cigarette products. We rely on meeting our ethical principles and maintaining our business integrity, as well as our approach to our business which we call Service Spirit, Team Spirit, and Spirit of Progress. In the spirit of service, we expect all of our employees to demonstrate professionalism, enthusiasm, integrity, and a welcoming attitude to our customers, vendors, and each other. Every day our employees combine their individual skills and contributions to achieve collective success.Our team spirit is based on a sense of shared purpose, communication, and mutual respect. Our business is to serve others and to continuously improve the services and products we provide. In the spirit of progress, we support and encourage all of our employees to shape their own future and to grow with the Company. We also encourage each employee to take the initiative and look for new, different, and innovative ways to better serve our customers and vendors.Midwest Distribution is proud to be an equal opportunity employer, seeking to create a welcoming and diverse environment. All qualified applicants will receive consideration for employment without regards to race; color; religion; genetic information; national origin; sex; pregnancy, childbirth, or related medical conditions; age; disability; citizenship status; uniform service member status; or any other protected class under Federal, State, or local law.Midwest Distribution is committed to creating a workplace that inspires and enables our employees to be the best they can be so that we can grow as a company, team, and family. We believe diversity, equality, and inclusion is vital to driving our culture, sparking innovation, and achieving long-term success.For all of life's occasions and everyday moments, visit Midwest Events (