Within your advertising and marketing agency, there are many departments working together to ensure that every digital campaign, out of home placement, promotion and social post goes live on time and as planned.
The accounts receivable manager is in the finance department. At the Pekoe Group, I handle invoicing shows for all media, expenses and fees that make up the advertising and marketing budget, and work with the director of finance to ensure that we have the funds needed to run every aspect of the show campaigns.
As the accounts receivable manager, I send invoices to our clients every week. Items included on these invoices are upcoming and ongoing ad campaigns, weekly agency fees and design fees, which can vary week to week. The weekly invoice may also include expenses that have been incurred that week, such as printing and installation of items for front of house, items that were purchased as part of a promotion or the printing of flyers to be handed out by the street team.
The accounts receivable manager tracks when each invoice was sent and when payment for that invoice is due. If payment is not received by the due date listed on the invoice, the accounts receivable manager will follow up to ensure that there is a clear timeline for when payment will be made and will confirm when the payment reaches the agency. By staying on top of billing and receiving payment for all of these items, the accounts receivable manager ensures that vendors are able to be paid on time.
