This site uses cookies. To find out more, see our Cookies Policy

Sr. Accounts Receivables/Cash Application Coordinator in Chicago, IL at True Value

Date Posted: 10/31/2018

Job Snapshot

  • Employee Type:
    Full-Time
  • Location:
    Chicago, IL
  • Job Type:
  • Experience:
    3 to 5 years
  • Date Posted:
    10/31/2018

Job Description

True Value Company is the only hardlines wholesaler with a globally-recognized brand and serves over 4,400 retail locations in 60 countries. Our focus is making an impact in our communities through Engagement, Growth and Efficiency. Joining True Value offers a culture that:

  • Embraces personal and professional growth
  • Recognizes diverse perspectives
  • Provides competitive compensation while balancing your work-life needs

Your Value = Our Value. True Value.

The accounts receivable and support function is highly visible and impactful to the Company's customer base. The Sr. Account Receivables/Cash Applications Coordinator is responsible for the research, identification and allocation of payments. The Sr. Coordinator is responsible for the accuracy of all cash applications (approximately 50% of all cash received is manually applied). Other responsibilities include:

  • Posting cash within required time frames under conformity to the applicable internal controls and compliance requirements
  • Account Receivable processing centralized inbox (cash application issues, offsets, and research and investigation requests initiated by retailers)
  • Daily maintenance of suspense items, EFT rejected payments, and partially applied payments
  • Completion of payment application requests received via fax, email or mail
  • Provide a high degree of proficiency in telephone communication and customer service to all retailers in regards to cash application issues, statement questions, or other
  • Escalate Lawson IT issues to the manager

Work closely with Manager to resolve all application issues or disputes. Work closely with the Customer Care Team, Credit Services Team, Growth/Sales, Treasury and Accounts Payable to resolve all unapplied payments, retailer disputes, and discuss early paid discounts. Responsible for daily metrics report and delegating daily cash assignments to other team members.

Assist the Manager to achieve internal cash application metrics. Responsible for updating the cash report and other department policies and procedures as warranted. Responsible for the completion of the monthly variance report (difference of AR collections vs Treasury) and the consolidation of both department numbers. Responsible for the completion of payments that need to be done in Excel add ins via Lawson uploads.

Serve as a back-up to Manager with audit functions, ad hoc reports, or other requests. Assist Manager with team member training. Backup to the AR Manager on monthly AR close process and close reports such as the top accounts past due over $250K. Back-up to the AR Manager on daily cash assignments when Manager is out
of the office. Assist Manager with monthly reconciliation items with accounting which involve research, investigation, and working with various departments of the organization to tie all cash. Responsible and accountable for taking a broader perspective to problems and identifying solutions.

Position Description

Apply payment remittances (lockbox deposits, merchant credit card services credits cards and ACH/wire payments) accurately and timely within stated policy parameters. Conduct account research and analysis to reconcile various disputes, chargebacks and unapplied payments. Maintain accurate and concise account notes and other relevant information for all payments that are not fully applied or have a pending issue. Identify, resolve and escalate any payment that does not contain clear application details. Continuously review any potential improvement in cash application processes and automation for potential enhancements. Maintain the AR Metrics report ensuring accuracy on daily assignments and completion. Delegate AR processing, AR tasks, and daily open cash.

Responsible for updating the cash report and other department policies and procedures as warranted. Responsible for the completion of the monthly variance report (difference of AR collections vs. Treasury) and the consolidation of both department numbers. Responsible for the completion of payments that need to be done in Excel add ins via Lawson uploads. Responsible and accountable for taking a broader perspective to problems and identifying solutions. Responsible for tie out of AR collections vs. Accounting.

Prepare daily cash report in a timely and accurate manner. Ensure accuracy between Bank figures, Lawson figures, mainframe figures, and Treasury Department figures. Escalate any discrepancies to Manager and IT Department. Responsible for the completion of payments that need to be done in Excel add ins via Lawson uploads (complex and heavy-volume).

Work directly with retailers to improve payment application submission process and provide superior customer service support to all retailers. Assist in the resolution of mis-applications, credits, and research and investigation. This may include the review of old payment application details and comparing to Lawson system application. Provide clear and correct back-up of all payment applications.

Research and prepare requests for internal and external audit by compiling information for Accounts Receivable Manager and Examiners. This includes, pulling copies of old invoices, confirming invoices were paid as requested by retailers, and calling vendors for proof of deliveries on invoices that were billed.

Assist the Manager in achieving internal cash application metrics. Back-up to the AR Manager with audit functions, ad hoc reports, or other requests. Assist Manager with team member training. Back-up to the AR Manager on monthly AR close reports such as accounts past due over $250K report. Back-up to Manager on daily cash assignments when Manager is out of the office.

Responsible for updating the cash report and other department policies and procedures as warranted. Responsible for the completion of the monthly variance report (difference of AR collections vs Treasury) and the consolidation of both department numbers. Responsible for the completion of payments that need to be done in Excel add ins via Lawson uploads. Responsible and accountable for taking a broader perspective to problems and identifying solutions. Responsible for tie out of AR collections vs. Accounting.

Position Qualifications

Minimum Type and Years of Related Experience Required:

  • Three to five years of related experience requires
  • Intermediate knowledge of Excel required
  • Proficient understanding of Lawson AR Financial System desireable
  • Possesses working knowledge of Excel Add Ins
Minimum Education Requirements:
  • High School Diploma or equivalent work experience

We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, status as a veteran, and basis of disability or any other federal, state or local protected class.

CHECK OUT OUR SIMILAR JOBS

  1. Accountant Jobs
  2. Bookkeeper Jobs