Billing and Collections Specialist

Description

Position Title: Government Contract Billing and Collection Specialist Department:
Accounting and Finance

Position Summary:

Responsible for managing the invoicing, payment tracking, and debt recovery lifecycle for Government and other contracts. Key responsibilities include ensuring regulatory compliance, reconciling complex project accounts, and utilizing specialized electronic portals.

Responsibilities:

• Oversee the end-to-end accounts receivable process, including invoicing, cash application and collections.

• Invoice Preparation & Submission:
  Create and submit complex invoices for contracts ensuring accuracy and compliance using portals like WAWF/PIEE.

• Regulatory Compliance:
  Apply rules from the Federal Acquisition Regulation (FAR) and Defense Contract Audit Agency (DCAA) guidelines.

• Collections & Reconciliation:
  Track aging accounts receivable, follow up on unpaid vouchers, and reconcile unbilled receivables.

• Contract Closeouts:
  Handle final voucher packages, cumulative allowable cost worksheets, and release of claims documentation.

Primary Functions:

Invoicing and Billing:

• Gather and verify supporting documentation for invoices in accordance with contract and agency-specific billing guidelines

• Review project contracts to ensure proper billing.

• Generate, enter and distribute invoices accurately and on time, as well as reminder notices as necessary.

• Manage recurring billing schedules and update account information as required.

Payment Processing and Reconciliation:

• Record and reconcile customer payments, including checks, ACH, wire transfers, and credit card transactions.

• Monitor and apply payments accurately against open invoices.

• Address and resolve discrepancies between payments and invoices.

Collections Management:

• Implement effective collection strategies to reduce outstanding receivables and improve cash flow.

• Contact customers to follow up on outstanding balances.

• Resolve escalated customer disputes and issues with professionalism and efficiency.

• Escalate unresolved accounts to supervisor as needed.

• Ensure accurate and timely processing of customer payments and resolution of discrepancies.

• Manage customer accounts, monitor aging reports and minimize overdue receivables.

Reporting and Analysis:

• Generate and maintain accounts receivable aging reports, payment status updates and collection progress.

• Provide regular updates to supervisor on AR metrics and key performance indicators (KPIs).

• Support month-end and year-end close processes.

Customer and Internal Relations:

• Respond to customer inquiries regarding billing, payments, and account discrepancies.

• Collaborate with the project manager and supervisor to resolve disputes.

• Ensure customer satisfaction while enforcing payment terms and conditions.

• Build and maintain positive relationships with customers to facilitate prompt payment.

Compliance and Documentation:

• Maintain accurate billing records of invoices (including invoice submission history), payments, contract modifications and other communication.

• Ensure compliance with company policies, financial regulations and internal controls.

• Assist with audits by preparing documentation and responding to auditor inquiries.

• Analyze trends and identify opportunities for process improvement or risk mitigation.

• Stay updated on industry best practices and technological advancements to optimize AR processes.

• With supervisor, identifies and implements process improvements to increase efficiency and accuracy in AR operations.

Position

Reports To:

Project Controller, Chief Financial Officer (CFO)

Requirements

Qualifications for AP Specialists:

Education:

B.S. in Accounting, Finance or a related field.

Certified Accounts Receivable Manager (CARMTM) (preferred)

Experience

Required:

Proven experience (5+ years) in accounts receivable management or a similar role with government contracts.

Proven track record of driving process improvements and implementing AR best practices.

Hands-on experience with accounts receivable systems and ERP platforms.

Skills and Abilities:

Exceptional problem-solving and analytical skills to address AR-related challenges

Excellent communication (oral and written) and interpersonal skills for effective interaction with customers and internal stakeholders

Attention to detail and accuracy in processing invoices and payments

Ability to work independently and collaboratively in a team environment

Ability to prioritize tasks, manage workload efficiently and meet deadlines in a fast-paced environment