Accounts Receivable Accountant (Contract)

$62,400 - $72,800/Yr

Spectrum Staffing Services - Lyndhurst, NJ

Full-time - Entry Level

Lyndhurst, NJ

About the position

The Accounts Receivable Accountant will be responsible for managing the day-to-day operations of the Accounts Receivable function within the Accounting Operations team. This role is crucial in supporting the team with analysis and ensuring timely completion of month-end and year-end deliverables. The accountant will handle various tasks related to account balances, invoicing, cash receipts, and reconciliations, ensuring that all processes are efficient and accurate. The position requires a proactive approach to resolving account issues and collaborating with other departments to maintain financial integrity. In this role, the accountant will respond to inquiries from insureds and brokers regarding account balance issues and financed premiums. They will create and modify invoices using Workday, apply cash receipts to open accounts receivable balances, and monitor unapplied payments. The accountant will work closely with Underwriting to resolve any discrepancies and investigate cash receipts as needed. Additionally, they will prepare and book monthly journal entries, conduct reconciliations between the Accounts Receivable system and the general ledger, and continuously evaluate processes to enhance efficiency and control. The position also involves serving as a backup for supplier review and maintenance, Accounts Payable, and check printing. Daily bank reconciliations will be managed in Workday, and the accountant will participate in testing financial processes for Workday updates. This role is essential for maintaining the financial health of the organization and ensuring compliance with accounting standards.

Responsibilities

• Respond to all requests from insureds/brokers regarding account balance issues and financed premiums.
• Create and/or modify invoices in Workday.
• Apply cash receipts to open accounts receivable balances; monitor unapplied payments and partner with Underwriting to resolve.
• Investigate and/or acquire additional details regarding cash receipts as needed with brokers/insured/banks/internal division; provide support for all divisions involving cash.
• Identify and resolve account receivables issues (such as, over/under payments, mismatch of payment details and invoices, etc.).
• Partner with Underwriting and Loss Control to resolve outstanding balances and analyze receivables issues.
• Prepare and book monthly journal entries and provide reporting, commentaries and other monthly close deliverables.
• Prepare monthly reconciliations between Accounts Receivable system and the general ledger.
• Continuously evaluate and improve the Accounts Receivable processes and procedures to enhance efficiency, accuracy and control.
• Serve as backup for review and approval of suppliers and supplier maintenance.
• Serve as backup for Accounts Payable and check printing.
• Complete daily reconciliation of cash to settlements.
• Manage daily bank reconciliations in Workday.
• Participate in testing financial processes for Workday releases and updates.
• Manage petty cash.

Requirements

• Minimum 2 years of business experience.
• Undergraduate degree in Accounting, Business Administration or Finance or equivalent work experience.
• Working knowledge of accounting fundamentals.
• Proficiency with Microsoft Office: specifically Excel and Word.
• Experience with A/R applications; experience with Workday a plus.
• Demonstrated ability to clearly explain issues and details to internal and external customers over the phone and in written form.