Accounts Receivable - Contingent

S&C Electric Company - Chicago, IL

Full-time - Entry Level

Chicago, IL

Electrical Equipment, Appliance, and Component Manufacturing

About the position

S&C Electric Company is a global provider of equipment and services for electric power systems, founded in 1911 and based in Chicago. The company specializes in designing and manufacturing switching and protection products for electric power transmission and distribution. The Finance & Accounting Department at S&C is responsible for the maintenance, analysis, and reporting of accounting and financial information. In this role, the Accounting Specialist will be tasked with the accurate and timely completion of day-to-day Accounts Receivable activities for the S&C Chicago Finance & Accounting function. This includes applying cash receipts, processing customer invoices, procuring collections from customers, reconciling bank accounts, reviewing commissions earned by sales representatives, and providing support for customer portals and general finance team activities. The Accounting Specialist will report directly to the AR Supervisor - Accounting and will play an integral role within the S&C Finance & Accounting team. The responsibilities associated with this position encompass a variety of accounting-related activities, including but not limited to processing customer invoices, managing customer and third-party internet portals for invoice transactions, coordinating with the Inside Sales team and Sales Representative offices on customer invoice activities, and assisting with the application of both domestic and foreign cash receipts through Oracle and bank websites. Additionally, the specialist will be responsible for contacting customers to collect unpaid amounts on past due invoices, preparing bank reconciliations for S&C Chicago bank accounts, and conducting Accounts Receivable reconciliations as assigned. The role also involves reviewing commissions earned by sales representatives, royalties payable from subsidiaries and business partners, and supporting the month-end and year-end accounts receivable closing processes. The Accounting Specialist will collaborate with fellow team members on finance department activities and respond to inquiries from team members and auditors, ensuring compliance with company policies and supporting system/process improvement initiatives.

Responsibilities

• Process customer invoices accurately and timely.
• Administer S&C Chicago customer and third-party internet portals for invoice transactions.
• Coordinate customer invoice activities with the Inside Sales team and Sales Representative offices.
• Assist with the application of domestic and foreign cash receipts through Oracle and bank websites.
• Contact customers to collect unpaid amounts on past due invoices.
• Request credit references for prospective customers and complete credit reference requests for existing customers.
• Prepare bank reconciliations for S&C Chicago bank accounts.
• Prepare Accounts Receivable reconciliations as assigned.
• Review commissions earned by S&C sales representatives each month.
• Review royalties payable from S&C subsidiaries and other business partners.
• Assist and support the month-end and year-end accounts receivable closing processes.
• Collaborate with team members on finance department activities.
• Respond to questions from team members and auditors.
• Audit reports to ensure compliance with company policies.
• Support system/process improvement initiatives.

Requirements

• Experience with Oracle software for accounting processes.
• Strong understanding of accounts receivable functions and processes.
• Ability to manage multiple tasks and meet deadlines.
• Excellent communication skills for customer interaction and team collaboration.
• Detail-oriented with strong analytical skills.

Nice-to-haves

• Experience in the electric power systems industry.
• Familiarity with financial reporting and analysis.
• Knowledge of customer relationship management (CRM) systems.

Benefits

• Health insurance coverage.
• 401k retirement savings plan.
• Paid holidays and vacation time.
• Opportunities for professional development and training.