Summary of Position (Job Purpose)
This position is responsible for the overall management of Accounts Receivable and Cash Application, ensuring the accuracy, completeness, and timeliness of customer account activity, payment application, collections, and account reconciliations. The role oversees the deposit of checks received, resolution of unapplied cash, deductions, and payment discrepancies while maintaining the integrity of the AR subledger, strengthening internal controls, minimizing financial risk, and supporting the company's cash flow objectives.
The position provides leadership and direction to onshore and offshore teams, drives process improvements, and ensures operational efficiency, accurate financial reporting, and compliance with established policies and procedures.
Principal Duties and Responsibilities
Maintain overall accountability for the accuracy, completeness, and timeliness of Accounts Receivable and Cash Application activities, including customer account maintenance, payment application, deductions, credits, adjustments, and reconciliations.
Ensure that all tender received is deposited on a daily basis.
Monitor incoming electronic payments to apply all cash received.
Oversee the timely and accurate application of customer payments to the appropriate accounts and invoices, ensuring remittance information is properly utilized and payment discrepancies are researched and resolved.
Monitor and drive resolution of unapplied, unidentified, misapplied, and partially applied cash, ensuring outstanding items are researched, documented, escalated, and resolved timely.
Oversee collections activities, AR aging, customer disputes, deductions, and past-due balances to minimize credit risk and improve cash flow.
Maintain the integrity of the AR subledger by ensuring customer accounts, cash receipts, and related general ledger balances are accurate, supported, and reconciled.
Lead month-end, quarter-end, and year-end close activities for AR and Cash Application, ensuring timely reconciliations, accurate reporting, and appropriate resolution or documentation of outstanding items.
Establish and maintain effective internal controls over cash receipts, payment application, account adjustments, credits, and write-offs, ensuring compliance with company policies, accounting standards, and audit requirements.
Review and approve adjustments, write-offs, credits, and other account activity within established approval authority, ensuring proper documentation and authorization.
Monitor key performance indicators, including payment application timeliness, unapplied cash aging, processing backlogs, reconciliation completion, and error rates. Identify trends and implement corrective actions.
Maintain accountability for identifying and resolving system issues, interface failures, and processing errors affecting cash application, customer accounts, or financial reporting, partnering with IT and other stakeholders as needed.
Develop strong working relationships with merchants, customers, banking partners, and internal stakeholders to resolve discrepancies, improve processes, and support business objectives.
Drive continuous improvement by identifying opportunities to automate manual processes, improve payment matching, reduce unapplied cash, and strengthen operational efficiency and controls.
Lead, develop, and hold onshore and offshore team members accountable for accuracy, productivity, timeliness, and adherence to established procedures. Establish clear responsibilities, performance expectations, and escalation paths.
Develop subject-matter expertise within the team through effective training, cross-training, delegation, and ongoing performance management, ensuring team members can independently manage their responsibilities and resolve issues.
Maintain accountability for accurate and timely management reporting, including AR aging, unapplied cash, reconciliations, operational metrics, and other requested analyses.
Maintain current procedures, process documentation, and training materials to support consistent execution, operational continuity, and compliance.
Communicate operational risks, resource needs, recurring issues, and improvement opportunities to leadership, providing recommendations and action plans for resolution.
Foster a culture of ownership, accountability, collaboration, professionalism, and continuous improvement.
Minimum Requirements/Qualifications
Minimum of 5 years of experience in Accounts Receivable, Cash Application, Accounting, Accounts Payable, or a related financial operations environment.
Minimum of 3 years of supervisory or management experience.
Working knowledge of AR and Cash Application processes, including payment application, unapplied cash, collections, deductions, account reconciliations, and financial close.
Proficiency with accounting and ERP systems, such as Oracle and Retek Merchandising System.
Knowledge of accounting principles, financial reporting, internal controls, segregation of duties, and audit requirements.
Strong analytical, problem-solving, and decision-making skills.
Excellent verbal and written communication skills, with the ability to interact effectively with all levels of management and business partners.
Demonstrated ability to lead teams, establish expectations, manage performance, and develop subject-matter expertise.
Ability to manage competing priorities and meet strict deadlines while maintaining accuracy and attention to detail.
Ability to exercise discretion when handling confidential financial information.
Desired Qualifications
Bachelor's degree in Business, Accounting, Finance, or a related field.
Experience managing both Accounts Receivable and Cash Application functions in a high-volume retail or wholesale environment.
Experience with cash matching solutions, ERP interfaces, process automation, and operational reporting tools.
Experience with query tools, Showcase, SQL, or other business intelligence and data analysis applications.
Experience managing offshore teams, third-party service providers, and performance against established service levels
Base Salary Range: $89,000-$111,000/yr
Family Dollar is an equal opportunity employer and committed to recruiting, hiring, training, and promoting qualified people of all backgrounds, and make all employment decisions without regard to any protected status. We are committed to complying with the Americans with Disabilities Act (ADA) and providing reasonable accommodations to qualified individuals with disabilities.
Full time
510 Volvo Parkway,Chesapeake,Virginia 23320
AP/AR
Family Dollar
