Key Responsibilities of a Collection Admin Invoice & Cost Controller
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This involves maintaining accurate records of customer accounts, tracking payments, and identifying delinquent accounts.
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Payment Processing
They handle the processing of payments, including posting payments to customer accounts, managing clearing accounts, and reconciling bank postings.
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Dispute Resolution:
Collection Admins may be involved in resolving customer disputes related to payments or accounts.
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Reporting:
They prepare and submit reports related to collection activities, such as daily processing reports and delinquency reports.
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Record Keeping:
Maintaining accurate and organized records of all collection-related documents, both physical and digital.
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Communication:
They may be involved in communicating with customers regarding payments, account status, and other collection-related matters.
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Support for Collection Team:
Assisting the collections team with various administrative tasks to ensure smooth operations.
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Compliance:
Ensuring that all collection activities comply with company policies, procedures, and relevant regulations.
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Other administrative duties:
This could include tasks like scanning documents, printing reports, and managing office supplies related to the collections department.
Skills & Qualifications:
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Strong organizational skills:
The ability to manage multiple tasks, prioritize effectively, and maintain organized records.
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Attention to detail:
Accuracy is crucial when handling financial transactions and account information.
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Communication skills:
Effective written and verbal communication skills are important for interacting with customers and team members.
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Basic accounting knowledge:
Understanding of basic accounting principles is helpful for managing accounts and payments.
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Proficiency in relevant software:
Experience with accounting software, database systems, and other relevant tools.
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Problem-solving skills:
The ability to identify and resolve issues related to accounts, payments, or disputes.
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Ability to work independently and as part of a team:
Some tasks require independent work, while others require collaboration with the collection team.