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KRA & KPI Accounting Sector Introduction...
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JOB DESCRIPTION AND RESPONSIBILITY
KEY RESULT AREA(KRA) & KEY PERFORMANCE INDICATOR(KPI)
accounting sector
Billing Manager
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Introduction
A Billing Manager is a professional who is responsible for managing all activities and staff in the billing function while they oversee the development of policies and procedures that ensure timely, accurate customer invoicing. Their duties are to Reconcile billing accounts to the general ledger
Do You Want to be a Billing manager? To build a career as a Billing manager Manager you need to first understand the Job profile and responsibilities of the job
This blog gives you a detailed idea of what it is like to become a Billing manager in the Accounting and Finance Industry of India.
Soft Skill, Technical Skills and Certification:
Leadership skills:
Billing managers often work with a team of other professionals, including account managers, customer service representatives, and other managers where they have to take charge of them hence leadership skills are important.
Interpersonal and Communication Skills:
They need to have good Interpersonal and Communication Skills in order to talk to people in the organization such as the sales department, accounting department, and other relevant departments. They also need to call creditors or debtors who owe money and then talk to them. They need to be polite with debtors and maintain good relations with them and good communication skills are required for it.
Math and Accounting Skills:
Math and Accounting skills are basic requirements for a Billing manager. They need to have good math and accountancy skills in order to analyze the account, call debtors and ask them to return the money.
Time Management skills:
Time management is the ability to complete tasks within a certain time frame and as they have to multitask and complete each day, time management skills can help them meet their deadlines.
Job description
The core responsibilities of Billing managers are responsible for overseeing the billing process at their company or organization, ensuring that all of the bills are being generated and sent out on time, tracking payments as they come in, and making sure that everything is being recorded correctly. They also have to manage responsible relationships with vendors and other suppliers of the business for proper bill maintenance, including negotiating contracts, reviewing proposals, and ensuring that the company gets the best possible deals on services and products it needs to operate.
Job Roles and Responsibilities
- They are required to Review claims to ensure that all items billed are appropriate for the services provided by the company
- Review codes or other mistakes that would prohibit payment from insurance companies
- Create and provide a prioritized list of clients
- Locate, or assist in the location of clients who are hard-to-reach
- Advise staff on proper, legal parameters for collections practices
- Provide customer support to customers with disputes
Key Result Areas(KRA)
Key Performance Indicator(KPI)
Sr. No. | KRA | KPI |
1 | How many preparations of statements and bills are completed in a month | No. of preparation of statements and bills are completed in a month |
2 | How many client records related to invoicing and bill payment are executed in a month | No. of client records related to invoicing and bill payment are executed in a month |
3 | How many billing staff maintain accuracy, resolving inconsistencies are resolved in a month | No. of billing staff maintain accuracy, resolving inconsistencies are resolved in a month |
4 | How many prioritized lists of clients completed in a month | No. of prioritized list of clients completed in a month |
5 | How many Drafts and weekly reports of invoicing and billing metrics are completed in a month | No. of Drafts and weekly reports of invoicing and billing metrics are completed in a month |
6 | How many disputes or inquiries concerning invoices or billing processes have been resolved in a month | No. of disputes or inquiries concerning invoices or billing processes have been resolved in a month |
Example of KRA VS KPI Mapped in Organisation and Reporting
Sr. No. | Reporting by the employee | Reporting by the employee |
1 | How many preparations of statements and bills are completed in a month | Preparation of statements and bills are completed in a month=12 |
2 | How many client records related to invoicing and bill payment are executed in a month | Client records related to invoicing and bill payment are executed in a month=15 |
3 | How many billing staff maintain accuracy, resolving inconsistencies are resolved in a month | Billing staff maintain accuracy, resolving inconsistencies are resolved in a month =10 |
4 | How many prioritized lists of clients completed in a month | Prioritized list of clients files completed in a month =5 |
5 | How many Drafts and weekly reports of invoicing and billing metrics are completed in a month | Drafts and weekly reports of invoicing and billing metrics are completed in a month=12 |
6 | How many disputes or inquiries concerning invoices or billing processes have been resolved in a month | Disputes or inquiries concerning invoices or billing process has been resolved in a month =25 |
Requirements
Eligibility
After 10th | After 12th | Graduation | Post-Graduation |
The candidate must have appeared in 10 from any recognized educational board. | The Candidate then has to appear for the HSC exam from a recognized board | Interested candidates can undertake a bachelors degree, which is a 3-year degree program | The candidates can also pursue a master’s degree so that they can have better career opportunities. |
The candidate should try to gain at least a minimum of 50-60% marks to be eligible to enter the Commerce stream | Most Billing managers appear in the commerce stream. |
These are some of the better options for a bachelor’s degree | They can pursue a Master’s Degree such as a Master of Commerce (M. Com) or MBA in Accounting or Finance, which can be up to 2 years |
The candidate should try to gain at least a minimum of 50-60% marks. Then, only they will become eligible for the bachelor’s course | After Graduation, the student can either search for a Job or go for a Master’s Degree | The Candidate must have at least 1 to 2 years of Experience in the sector at a starting position to get a high paying and good position in a reputed organization. |
Best Colleges for Billing Manager in India
Colleges | Location |
Indian Institute of Management, | Bengaluru |
Indian Institute of Management, | Kozhikode |
National Institute of Securities Markets, | Navi Mumbai |
MICA | Ahmdabadh |
Indian School of Business, | Hyderabad |
Best Colleges for Billing Manager in Mumbai
Colleges | Location |
Narsee Monjee College of Commerce & Economics, | Mumbai |
K J Somaiya College of Arts and Commerce | Mumbai |
Kishinchand Chellaram College | Mumbai |
Billing Manager Career Path
Career | Description |
Commercial Accounts Receivable Manager: | The main responsibilities for this role include managing invoices, handling missed payments and supervising Accounts Receivable Clerks. |
Credit Manager: | Credit managers are responsible for overseeing the credit granting process for a company. Their job is to optimize company sales and reduce bad debt losses by maintaining the credit policy. |
Budget Analyst: | Budget Analysts are responsible for analyzing budget proposals that determine fund allocations, and determining budgets for various resources. |
Billing Analyst: | They are required to ensure that bills are accurate and paid on time and that any invoices received are authorized. |
Accounts Payable Clerk: | Accounts Payable Clerks are responsible for receiving, processing, and verifying invoices related to accounts payables. |
Salary
Billing Manager salary in India ranges between ₹ 1.2 Lakhs to ₹ 15.5 Lakhs with an average annual salary of ₹ 6.5 Lakhs. The Amount may vary through different factors like cities, experience workflow, and workload.
Conclusion
A Billing Manager has many responsibilities, such as planning the billing, accounts receivable, and collections operations of a department, and will work with many professionals, such as Accountants, to understand what clients are late with billing and how to approach customers as needed. Having excellent attention to detail and communication skills will help promote you for better aspects with a higher pay scale excellent attention to detail since they will need to manage several accounts at one time.
To get a Detailed Overview of the Accounting Sector, Click Here.
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