Lucky Petroleum Accounts Receivable Executive Lahore

Lucky Petroleum is inviting applications for the position of Accounts Receivable Executive at its Head Office. This opportunity is suitable for accounting and finance professionals with 2–4 years of relevant experience in accounts receivable, customer accounting, invoicing, or bank reconciliation.

The selected candidate will be responsible for maintaining customer accounts, processing invoices, monitoring outstanding payments, reconciling customer balances, and ensuring accurate financial records. Candidates with experience in an Oil Marketing Company (OMC), petroleum distribution, FMCG, or a high-volume trading business will be preferred.

Job Overview

Job Detail	Information
Company	Lucky Petroleum
Position	Accounts Receivable Executive
Department	Finance / Accounts
Location	Head Office
Industry	Oil Marketing Company (OMC) / Petroleum Distribution
Qualification	Bachelor’s degree in Accounting, Finance, Commerce, or Business Administration
Experience	2–4 years of relevant experience
Professional Qualification	ACCA, ICMA, or equivalent qualification is an advantage
Reporting To	Manager Finance and Chief Financial Officer
Application Email	[email protected]
Email Subject	Accounts Receivable Executive
Last Date to Apply	Not specified in the advertisement

About the Accounts Receivable Executive Position

An Accounts Receivable Executive helps a company manage the money it is owed by customers. In a petroleum distribution business, this can involve maintaining customer balances, checking payments, issuing invoices, and following up on differences between company records and customer statements.

The role requires strong attention to detail because errors in invoices, customer records, tax calculations, or payment entries can affect financial reporting and cash flow.

The successful candidate will work with the finance team and relevant internal departments to keep customer accounts accurate, ensure invoices are supported by the required documents, and maintain proper records in the company’s ERP or accounting system.

Key Responsibilities

1. Customer Accounts and Ledger Management

The Accounts Receivable Executive will prepare and maintain customer ledgers and accounts receivable records.

Key duties include:

• Maintaining accurate customer account balances.
• Performing regular reconciliations between company records and customer statements.
• Confirming outstanding balances with customers where required.
• Investigating discrepancies in invoices, receipts, credit notes, debit notes, and other adjustments.
• Ensuring customer transactions are properly recorded in the accounting system.

2. Receivables and Ageing Reports

The employee will prepare financial reports that help management understand how much money is outstanding and how long payments have remained unpaid.

Responsibilities include:

• Preparing daily customer-wise receivables reports.
• Preparing accounts receivable ageing reports.
• Maintaining fund and collection reports.
• Identifying overdue balances and reporting unusual differences.
• Providing accurate receivables information to the finance manager and senior management.

An ageing report generally groups unpaid invoices by how long they have been outstanding, helping the finance team monitor overdue customer payments.

3. Bank Reconciliation and Payment Verification

The role also involves reconciling bank statements and identifying customer collections.

The executive may need to:

• Match bank transactions with customer payments.
• Identify online transfers, cheque deposits, and other collections.
• Investigate unidentified or incorrectly recorded receipts.
• Ensure customer payments are allocated to the correct accounts.
• Maintain supporting records for reconciliation and reporting.

Strong reconciliation skills are important because payments must be recorded accurately to maintain correct customer balances.

4. Customer Code Creation and Master Data

Lucky Petroleum requires the Accounts Receivable Executive to handle requests for creating new customer codes in the ERP or accounting system.

Responsibilities include:

• Processing customer-code requests only after approval from authorized personnel.
• Verifying customer registration documents, including CNIC/NTN, sales tax registration where applicable, business details, and contact information.
• Checking approved credit terms before customer setup.
• Identifying duplicate customer records.
• Maintaining accurate customer master data.
• Keeping records of customer-code creation and amendments.

Following approval procedures and maintaining accurate records helps reduce duplicate accounts and unauthorized changes.

5. Customer Invoice Preparation and Verification

The executive will prepare and process customer invoices based on approved sales orders, delivery documents, product dispatch records, and applicable pricing.

Duties include:

• Checking customer details and invoice information.
• Verifying quantities, rates, taxes, and other billing elements.
• Checking supporting documents such as delivery challans, product lifting records, and proof of delivery, where applicable.
• Ensuring invoices are consistent with approved sales and dispatch information.
• Maintaining organized invoice records.
• Following applicable tax and invoicing requirements.

This responsibility requires careful checking to prevent billing errors and disputes with customers.

Eligibility Criteria

Candidates should meet the following requirements to be considered for the position.

Educational Qualification

Applicants must hold a bachelor’s degree in one of the following fields:

• Accounting
• Finance
• Commerce
• Business Administration

Candidates who are part-qualified or qualified in ACCA, ICMA, or an equivalent professional qualification will have an advantage.

Professional Experience

The advertisement requires 2–4 years of relevant experience in one or more of these areas:

• Accounts receivable.
• Customer accounting.
• Invoice processing.
• Bank reconciliation.
• Receivables reporting and customer ledger management.

Experience in an Oil Marketing Company (OMC), petroleum distribution, FMCG, or another high-volume trading business will be preferred.

Technical Skills

Candidates should have:

• Working knowledge of accounting principles and receivables management.
• Understanding of applicable taxation and invoicing requirements.
• Proficiency in Microsoft Excel, including lookup functions, PivotTables, and reconciliation schedules.
• Practical experience with ERP or accounting software such as SAP, Oracle, or an equivalent system.
• Strong numerical, analytical, and problem-solving skills.
• Good attention to detail and the ability to maintain accurate financial records.

What Is Accounts Receivable?

Accounts receivable refers to money that customers owe a company for goods or services supplied on credit.

For example, if a company supplies petroleum products to a customer and allows payment at a later date, the unpaid invoice becomes an accounts receivable balance until the customer pays.

An Accounts Receivable Executive helps ensure that:

• Invoices are correct and supported by documents.
• Payments are recorded against the right customer accounts.
• Outstanding balances are monitored.
• Differences between customer and company records are resolved.
• Management receives reliable financial reports.

This makes the role important for maintaining accurate accounts and supporting the company’s cash-flow management.

Who Should Apply?

This vacancy is particularly suitable for candidates who:

• Have a relevant bachelor’s degree.
• Have 2–4 years of experience in accounts receivable or customer accounting.
• Are comfortable working with Excel and accounting software.
• Have experience preparing invoices and reconciling customer or bank accounts.
• Understand customer documentation and financial recordkeeping.
• Have worked in petroleum distribution, FMCG, or a high-volume trading environment.