Job Overview:
The Billing Specialist is responsible for accurately preparing and processing invoices for clients based on contractual agreements. This role involves ensuring timely billing, resolving billing discrepancies, maintaining billing records and agreements, and providing support to internal and external clients. The Billing Specialist plays a critical role in ensuring accurate and efficient billing processes.
Responsibilities:
- Reviewing contracts: Review contractual agreements to understand the billing terms, payment schedules, and invoicing requirements.
- Creating and sending invoices: Create and send invoices to customers according to the billing terms outlined in the contractual agreements.
- Ensure that the invoices are accurate, timely, and comply with accounting standards and regulations. These invoices may also expand to ancillary charges that are outside the scope of the
signed contract. (i.e., work done on a T&M basis or Hardware/Software resales) - Managing billing schedules: Manage billing schedules for contractual agreements, ensuring that invoices are sent on time and that payments are received according to the payment schedules outlined in the contracts.
- Resolving billing discrepancies: Resolve billing discrepancies or disputes with customers, working with internal teams and external stakeholders to resolve issues and ensure that payments are received on time.
- Updating billing records: Maintain accurate billing records for contractual agreements, including invoices, payments received, and any changes to the billing terms or schedules.
- Supporting financial reporting: Assist in financial reporting activities, including preparing reports and analyses related to contractual billing and revenue recognition.
- Maintain accurate and real-time timesheets.
- Receive mentoring and feedback from peers and others.
- Where appropriate, escalate complicated issues to a more senior resource or other appropriate teams.
- Maintain documentation, processes, and standards through the change management processes.
- Maintain an in-depth knowledge of the products and services that are offered.
Requirements
- Contract billing involves handling various details, such as contract terms, pricing, and payment schedules.
- Strong numerical skills are essential for performing calculations, reconciling accounts, and managing financial data accurately.
- Proficiency in basic math and familiarity with accounting principles are beneficial.
- Need to analyze and interpret complex contractual terms and conditions, ensuring that billing accurately reflects the agreed-upon terms.
- Proficiency in using billing software and systems is important for efficiently generating invoices, tracking payments, and managing customer accounts. Familiarity with popular accounting software and billing platforms is advantageous.
- Effective communication is essential when interacting with clients, internal teams, and stakeholders.
- Strong organizational skills and the ability to prioritize tasks help in managing workload effectively and meeting deadlines.
- Should be skilled in problem-solving, using critical thinking to identify root causes, propose solutions, and prevent future issues.
- Familiarity with contract terminology, billing terms, and pricing structures is important for accurate invoicing.
- Strong customer service skills, including empathy,
Professionalism and effective communication contribute to positive client experiences and satisfaction.