Accounts Payable/Receivable Analyst analyzes accounts payable/receivable activities to ensure compliance with internal controls and accounting policies. Maintains and reconciles the accounts payable and accounts receivable ledger to validate charges and ensure timely and accurate payments and receipt of payments. Being an Accounts Payable/Receivable Analyst utilizes AP/AR data to identify trends, inefficiencies, and opportunities for improvements or cost savings. Generates reports to bring insight into collections, account ages, and other relevant metrics and relays conclusions to management. Additionally, Accounts Payable/Receivable Analyst investigates and resolves discrepancies in billings and collections or payments. Analyzes customer credit history, determines credit risk, and recommends credit limits and payment terms. May recommend improvements to accounts payable/receivable processes. Requires a bachelor's degree. Typically reports to a manager. The Accounts Payable/Receivable Analyst occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. To be an Accounts Payable/Receivable Analyst typically requires 2-4 years of related experience. (Copyright 2024 Salary.com)
Description
The primary purpose of this position is to process invoices and issue payments following detailed and standardized accounting procedures. Performs a variety of support duties related to the accounting function within the Credit Union.
Requirements
Accounts Payable
· Manage payables for the organization by:
o Receiving and scanning all invoices to FastDocs,
o Routing invoices for the appropriate approval,
o Ensuring all invoices have appropriate documentation and approval prior to payment,
o Expensing to the correct general ledger account, posting, and remitting check payments, and
o Maintaining the outstanding vendor checks payable register.
· Process employee expense reimbursements.
· Process corporate credit card expenses in accordance with credit union policies and procedures.
· Complete 1099 reporting and ensure the retention of updated W-9 forms from vendors.
· Submit the CUNA Member Premium Transmission in a timely manner.
· Perform research for other departments when requested and respond to all vendor inquiries in a timely manner.
General Ledger
· Analyze and evaluate monthly expenses for accuracy and completeness in preparation of monthly accruals for the month-end close.
· Analyze and evaluate financial data in the preparation of complex budgets.
· Verify, balance & reconcile GLs as assigned.
Escheatment
· Perform annual escheatment process by assessing dormant accounts and stale-dated official checks, sending letters, charging fees, and closing and reporting dormant accounts following state guidelines.
Prepaids and Fixed Assets
· Prepare various financial reports from Prepaids & Fixed Assets system for expense review and budget analysis
· Maintain Prepaids System in accordance with credit union policies and procedures, Generally Accepted Accounting Principles (GAAP), and federal laws and regulations.
· Maintain Fixed Assets system in accordance with credit union policies and procedures, Generally Accepted Accounting Principles (GAAP), and federal laws and regulations.
Other Duties
· Identify inefficient and outdated processes; recommend improvements. Coordinate process improvements with other departments to enhance efficiencies within the organization.
· Create and maintain working procedures for the functions of this position.
· Serve as back-up to other accounting functions, as necessary.
· Perform other duties and tasks as assigned.
Job Specifications
· Minimum of 2 years Accounts Payable experience required
· Familiarity with Symitar and FastDocs system preferred.
· Associates Degree in Accounting, Finance, Business Administration or related field preferred.
· Accuracy, attention to detail, strong analytical skills and sound judgment demonstrated in all phases of work.
· Must demonstrate excellent organizational, communication, analytical, and operational skills.
· Must be able to independently set priorities to meet the needs of DFCU and achieve the needed results.
· Professional, well-developed interpersonal skills essential for interacting with DFCU staff.
Physical Requirements
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is frequently required to sit, use hands to finger, handle or feel, reach with hands and arms, and talk or hear. The employee is occasionally required to stand, walk, bend, kneel, and reach above or at shoulder level. The employee must occasionally lift/push/pull and/or carry up to 10 pounds.
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