Finance Executive

4 weeks ago

Bukit Mertajam, Malaysia Iconic Hotel Penang Full time

**1.0 Job Summary**

1.1 Credit Executive reports to the Assistant Accounts Manager in the management of the company’s debt position and control of accounts receivable. Co-ordinates with all subordinates in the Credit and Accounts Receivable (AR) Department, handle and resolve any problems concerning credit control/AR and ensure that the credit policies and procedures are adhered to by all.

**2.0 Duties And Responsibilities**

2.1 The Credit Executive reviews and approves:
2.2 The credit rating of each hotel guest during their stay.

2.3 The credit rating for accounts receivable toward individual guests, companies and organizations.

2.4 The Credit Executive is responsible for handling uncollected accounts particularly over 60 days, accounts which have exceeded credit limit amounts, and dishonoured checks received for payment. The Credit Executive is responsible to highlight to Finance Manager and the parties concerns on any major outstanding accounts or issues timely.

2.5 The Credit Executive is overall responsible for handling collections for all

accounts.

2.6 The Credit Executive needs to be in communication with other hotels in the same area for the exchange of information.

2.7 Accounts Receivable
- To oversee the account receivable section to ensure timely and accurate billing
- Monitor and control all accounts receivable in order to minimise the Company’s exposure on bad debts.
- Assist on any problematic situation that may arise in the Accounts Receivable Department.
- Comply with house rules and regulations.

**3.0 Credit Evaluation**
- Assess the credit worthiness of customers for accounts receivable based on a credit review.
- Establish and recommend credit to travel industry, government agencies and in general corporate accounts for City Ledger.
- As source data for performing credit reviews, refer to such current publications as the Chamber of Commerce and Industry Directory, Travel Agent Directories, corporation financial results reports other applicable directories.

3.1 Credit Approval
- Investigate hotel guests’ credit by verifying the necessary documents eg. Letter of undertaking from a company, passport or credit card and verifying information from the following source. Chamber of Commerce, Embassies, Consulates, other Hotels or any private contacts.

3.2 In House Guest
- Review “Account Status” prepared by the Income Auditor on a daily basis eg. Monitor the outstanding report over RM500 and check out folio with outstanding report.
- Determine the validity of each account being monitored, so that appropriate action can be taken together with the Front Office Manager and to recommend to the Management. This might include collecting further deposit, additional credit card imprint or payment.
- Monitor and follow-up with payment should deposit paid by guest or credit card imprint taken is not sufficient to cover the room accommodation and incidental charges being incurred.

3.3 Billing
- Supervise the maintenance of a receivable and credit control system whereby the posting of accounts is up to date and accurate.
- Co-ordinating and ensuring orderly billing, in line with guest requirements if necessary
- Initial billing to be personally checked and verified before being presented for payment in the case of large bills.
- Handle and resolve any billing disputes which may arise after the initial Accounts billing and follow-up on payment.
- Co-ordinate on the sending of monthly reminders and customers letters to accounts having outstanding balance exceeding 30 days.
- To check and approve debit note for monthly rental, electricity and water bill charges and rental of showcase of Tenants.

3.4 Credit Collection
- Be responsible for the credit function, timely billing and follow-up on collection of Accounts Receivable.
- Scrutinise the collection closely, attend to complaints, adjustment of customers statements such as computation of discounts according to established standards and procedures.
- To review aging analysis of receivable. To pay particular attention to delinquent and long outstanding account.
- To report on actions taken with long overdue accounts and where necessary recommend additional action for management approval.

3.5 **Suspended Account**
- To be responsible for maintaining an updated black list on travel agents, companies in general and the credit cards which have been revoked and to see that cashiers make use of these cancellation lists.
- If debtor did not respond to our request for payment and their outstanding balance is far exceeding our credit terms, their account will be suspended. A list of suspended account will be circulated to Finance Manager, Front Office Manager, Asst Director of Sales and Reservation Manager. No further credit should be extended in order to extract payment and reducing the risk of bad debts.

3.6 **Legal Action**
- To serve as the company’s interface on all legal actions relating to debt collection. After the lapse of the period

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