Executive - Finance - Receivables

Role Definition

Key Deliverables

1. Receivables & Debtor Ageing Management
2. Timely & Accurate Invoicing Across All Business Channels
3. GST & Statutory Compliance
4. Revenue Reconciliation & Booking Accuracy
5. Discount Governance & Policy Adherence
6. BIBT Finance SOP Execution & Audit Preparedness

Tasks & Activities

Debtor Ageing Management (Corporate & Patient Dues)

• Monitor and analyze aging of receivables across all customer categories: Corporate, FOFO partners, HLMs, SIS, and Direct Patients.
• Prioritize and follow up on overdue accounts >25 days in coordination with the Sales/Operations teams.
• Publish weekly dashboards and aging reports, highlighting top overdue accounts and collection plans.
• Initiate collection escalations for chronic defaulters and support legal/credit control actions as needed.

Invoicing – Corporate, FOFO, HLM, SIS, POC

• Generate monthly invoices for all parties by 5th of each month as per contractual terms and LIMS data.
• Ensure invoices reflect accurate test-level billing, discounts, and applicable taxes.
• Book payments received against correct invoices and reconcile credit notes, advance adjustments, and TDS deductions.
• Maintain invoice logs and dispatch records for each channel for audit trail and partner reference.

Statutory Compliance (GST and Invoicing Standards)

• Ensure GST-compliant invoice formats and timely issuance under applicable GST registration numbers (State-wise if applicable).
• Prepare GSTR returns in coordination with the tax consultant; track Input Credit mismatches.
• Maintain all audit ready documentation – tax invoices, credit notes, reconciliations
• Respond to audit queries and statutory notices related to invoicing and collections.

BIBT Finance Governance

• Implement internal controls for partner billing, approvals, reconciliation, and revenue recognition in line with BIBT finance SOPs.
• Track deviation logs, exceptions, and waivers in discounts or billing and present justification as per policy.
• Support internal audit cycles with necessary files, logs, and reports.

Revenue Reconciliation

• Conduct monthly reconciliation of revenue booked in LIMS vs. Tally collections to ensure accuracy.
• Investigate mismatches due to test rejections, discount variations, double entries, or late postings.
• Submit summary of revenue slippages and action plans to Head – Finance for review.

Discount Management

• Monitor discount application across invoices as per predefined Criteria/ Slabs.
• Prevent unauthorized manual discounts and flag process violations for corrective action.
• Maintain updated records of approvals (written/email) for discounts given beyond policy.
• Report trend analysis of discounts, highlighting patterns of leakages or misuse.

Success Metrics

• < 25 Debtor Days
• 100% Accuracy of Invoicing & Settlement
• 100% Zero Audit queries of Statutory Compliance (GST)
• 100% Accurate Revenue Reconciled on Time (Monthly)
• 100% BIBT SOP Compliance
• Zero Unauthorized Discount Occurrence

Role Requirements:

• Experience: 3–8 years of relevant experience in Accounts Receivable, Credit Control, Collections, Billing, or Finance Operations, preferably in healthcare/diagnostics or service industry.
• Strong expertise in end-to-end receivables management, including debtor ageing, collections, payment reconciliation, TDS/credit note adjustments, and reducing outstanding dues.
• Hands-on experience in invoicing, revenue reconciliation, GST compliance, and statutory documentation, with strong understanding of GST rules applicable to services.
• Proficiency in Tally, Advanced Excel (Pivot Tables, VLOOKUP/XLOOKUP, Macros) and preferably LIMS/ERP billing and finance modules.
• Strong understanding of revenue recognition, billing controls, discount governance, internal SOPs, audit requirements, and financial reporting.
• Excellent analytical, follow-up, stakeholder-management, and problem-solving skills, with a strong focus on accuracy, compliance, timely closure, and zero revenue leakage.