Recording financial transactions: The bookkeeper aspect involves recording all financial transactions accurately and promptly. This includes invoices, payments, receipts, and other financial documents.
Managing accounts receivable: They are responsible for managing the accounts receivable ledger, which involves tracking payments from customers or clients. This includes issuing invoices, following up on late payments, and reconciling discrepancies.
Monitoring debtors: They keep track of outstanding debts owed to the company and follow up with customers who have overdue payments. This may involve sending reminders, making phone calls, or initiating collection procedures.
Reconciliation: They reconcile accounts receivable records with the general ledger to ensure accuracy and identify any discrepancies. This involves matching transactions, resolving discrepancies, and updating records accordingly.
Reporting: They prepare reports on accounts receivable status, including late payment reports that show the breakdown of outstanding balances by severity. These reports are often used by management to assess the financial health of the business and make informed decisions.
Communication: They communicate regularly with customers regarding their accounts, addressing any inquiries or concerns they may have regarding payments or invoices.
Collaboration: They may collaborate with other departments such as sales or customer service to resolve issues related to accounts receivable and ensure smooth business operations.
Requirements:
Attention to detail
Organisational skills
Mathematical aptitude.
Analytical skills
Technical proficiency
Communication skills
Ethical standards
Problem-solving abilities
Time management
Adaptability
In essence, a bookkeeper and debtors clerk play a crucial role in maintaining the financial health of a company by accurately recording transactions, managing accounts receivable, and ensuring timely payments from customers.
