Deductions Associate - Contract to Hire in Durham, NC at Vaco

Date Posted: 2/3/2020

Job Snapshot

  • Employee Type:
    Contractor
  • Location:
    Durham, NC
  • Job Type:
  • Experience:
    Not Specified
  • Date Posted:
    2/3/2020
  • Job ID:
    DEDUC12544

Job Description

Under the direction of Accounts Receivable Manager (AR), this position is responsible for managing a deduction portfolio, summarizing customer indirect sales, calculating customer contract attainment, and processing customer payments. This position also continuously investigates best practices, identifying opportunities to streamline, control risk, cut cost and provides excellent customer service.

The direct focus is to assist with cash management, customer service and the credit deductions aspect for direct and indirect approved customers of Accord Healthcare. Maintain and document complete, timely, and accurate rebills for assigned customers. Follow established procedures for processing receipts, cash, credit memo, debit memo, departmental transactions and handling customer requests. Participate and manage all aspects of the AR Cash/Credit processes as follows:

Principle Duties and Responsibilities: Reasonable accommodations will be made to enable individuals with disabilities to perform the essential functions of this position.

  • Analyze and process customer deductions, verifying that deductions are valid and expensed to the appropriate account, or if invalid, process accordingly.
  • Deduction resolution to ensure deductions do not continue, invalid deductions are paid back, and valid deductions are credited accurately (including coding and commenting all accounts).
  • Regular phone/email communication with customers
  • Customer portal access to accomplish tasks that include:
    • Deduction downloads.
    • Identify reason for the deduction.
    • Obtain backup for customer deduction.
  • Clear deductions on vendor portal and documentation submittal
    • Enter deals customers are entitled to by item onto vendor portal.
  • Complete monthly reconciliations of customer and GL accounts.
  • Assist in the escalation process.
  • Build alliances with Account Managers, corporate departments, and customers to resolve deduction issues.
  • Ensures that customer short payments (deductions) are fully investigated, and invalid deductions are recovered, or proper financial recognition is applied.

Principle Duties and Responsibilities (cont'd.)

  • Proactive resolution of deductions.
  • Collection and accounts receivable management for AR trade customers.
  • Ensure the complete and timely collection of accounts receivables short payments and unauthorized deductions.
  • Analyze aged trial balance of accounts receivable.
  • Communicate with customers and negotiate repayment terms.
  • Respond to customer inquiries on a timely basis.
  • Reconciliation of accounts receivable.
  • Prepare and recommend credit files.
  • Monthly reporting and journal entries.
  • Credit department processes support and improvement.
  • Work with business partners on cross functional teams.
  • Identify and implement process improvements in support of continuous improvement
  • Identifies and drives process improvement for reducing administrative costs by streamlining processes and reducing deduction volume.
  • Summarizing and interpreting customer indirect sales.
  • Preparing analysis of customer deduction trends and performing root cause analysis
  • Manage deduction audits by customers for prior periods to ensure accuracy.
  • Engages with customers, brokers, sales staff, supervisors or managers as required to resolve open issues.
  • Effectively communicate with brokers, customers, sales and internal staff on outstanding unauthorized deductions; this includes understanding the process for requesting and collecting repayment of invalid deductions, identifying trends and resolving issues which cause invalid deductions.

Qualifications:

  • A college degree in accounting, finance or equivalent
  • A minimum of 3-5 years of experience in credit and accounts receivable management, with a strong focus on deductions resolution
  • Outstanding customer service, communication and negotiation skills
  • Excellent analytical skills
  • Ability to work independently and contribute to the team
  • Ability to manage time effectively and efficiently
  • Ability to handle multiple assignments and high stress situations with professionalism
  • Excellent knowledge of SAP, Microsoft Windows, Excel, Word,
  • Independently manage multiple high priority tasks
  • Ability to work with MS Word, Excel (vlook-ups & pivot tables), Power Point, and Outlook
  • Knowledge of debits and credits
  • Attention to Detail