Accounting and Receivables Officer

Our client is one of Limassol’s most active residential real estate developers, with 20+ projects underway across multiple SPVs and a team of ~35 across Commercial, Finance, Technical, Legal, Sales, Marketing, and Customer Care. As they continue to grow, they are strengthening their finance function and invite motivated, precise professionals to join their dynamic team.

Role Overview

The Accounts Receivable Officer owns the day-to-day receivables cycle across company’s development projects from issuing invoices and receipts against contract and construction milestones, to applying incoming payments, driving collections, and keeping client balances accurate and reconciled. Reporting to the Financial Controller, this is a hands-on, detail-critical role where responsiveness, reliability, and precision with numbers are essential.

Invoicing & Receipts

• Issue invoices: Issue invoices accurately and promptly against contract milestones, reservations, contracts of sale, and construction milestones.
• Issue receipts: Issue receipts immediately upon confirmation of payment, ensuring each receipt is correct and traceable to the right client and unit.
• Milestone evidence: Before triggering any milestone-based invoice, compile and provide the supporting proof of completion to the client architect’s letter or certificate, progress report, permit issuance, or equivalent documentation.

Cash Application

• Receipt matching: Match incoming bank receipts to the correct client, unit, milestone, and project (SPV) bank account.
• Mortgage & bank disbursements: Track and apply buyer mortgage drawdowns and staged bank disbursements that arrive outside the contractual payment timeline.

Collections

• Active collections: Run a structured collections cycle reminders, follow-ups, and a clear escalation ladder to keep overdue balances to a minimum.
• Late payment & escalation: Calculate and apply contractual late-payment interest, and flag persistent defaulters to the legal team.

VAT & Compliance

• VAT per unit: Apply the correct VAT rate per unit (reduced vs standard) based on buyer eligibility, track which units qualify, and manage reclassification where a buyer’s status changes.

Contract Lifecycle

• Contract events: Record cancellations, refunds, contract variations, and assignments/resales accurately and on time in the ledger.
• Reservations: Track reservation fees through to their conversion into a contract of sale.

Reconciliation

• Client balances: Maintain client balances live and produce regular aging reports.
• Month-end & ledger: Perform month-end client balance reconciliations and reconcile the AR sub-ledger to the general ledger.
• Bank & deposits: Carry out bank reconciliations per project (SPV) and reconcile deposits and contract liabilities in line with the cash-collection method.

Reporting & Forecasting Support

• Reporting: Report to the Financial Controller with aged debtor listings, collection status, and reconciliation outputs.

• Forecasting support: Assist the FP&A Associate with collection forecasts that feed the project cash flow models.