Also known as...
Accounts Receivable and Accounts Payable Manager
The role in brief...
Responsible for the smooth running of both the Accounts Receivable (AR) and Accounts Payable (AP) function of the finance team and overseeing the team’s Finance Assistants.
Working with...
- Internal: Agency Managers (both creative and media agencies), Heads of Department, client facing people and staff; Finance/accounts.
- External: Client finance teams including procurement personnel; Other agencies in their client's roster; Regulatory bodies;
- Billing and Purchases Manager will typically report to the Financial Controller, Head of Finance, Finance Director of the agency, depending on the size of the team.
- They will manage and motivate staff within their team, being accountable for their performance and providing them with professional development opportunities.
Responsible for...
- Ensuring the bank is reconciled regularly and assist with cash flow queries and preparation of cash flow reports.
- Overseeing expenses for the agency, including posting, approving and payment. Manage the agency corporate credit card process.
- Ensuring sales invoices are raised as early as possible and ensure credit control functions so that cash is received by its due date. Following up when payments are not received on time.
- Ensuring Accounts Receivable (AR) and Accounts Payable (AP) ledgers are accurate, current and reconciled to external sources regularly.
- Reviewing status of contracts and communicate expiry/renewal information when appropriate.
- Reporting weekly the aged AR and AP reports to the Finance Manager/Finance Controller/Head of Finance.
- Delivery of the finance induction to all new starters, covering the finance policy and process.
- On boarding of the client facing staff on the client finance process and supporting them with any finance issues.
- Supporting the finance team with information for the month end closing.
- Supporting the finance team with the preparation of materials for the audit process.
- Ad hoc duties aiding the finance team.
- Involved in recruitment and selection decisions.
- Focused on the personal and professional development of their team.
Those who succeed are...
- Able to provide quality and detailed financial information to the Finance Manager/Head of Finance, within tight reporting deadlines.
- Comfortable working in a fast- paced environment to meet client demands as a member of the team.
- Recognize the importance of the “internal” client and delivering a service.
- Results orientated and an excellent problem solver with accurate processing of financial data with strong attention to detail.
- Strong in their IT skills, MS Outlook, Word, PowerPoint, in particular proficient in Excel
- Excellent communicator both verbal and written.
- Highly organised with a logical approach to challenges.
Where they come from, and where they go...
Finance teams require strong numerical interest and ability. They will have previous experience of working in an agency/office environment with an understanding of accountancy and the finance function. Typically they are Qualified/part qualified for either ACCA/ CIMA with experience working with senior teams.
With a desire to have a career in finance they pursue professional accounting studies as they progress into Management Accountant, Finance Manager, Head of Finance, Financial Controller and Chief Financial Officer. Qualified finance professionals can move across a variety of businesses and sectors as they apply their commercial acumen and experience.