Accounts Receivable Specialist

Position: Accounts Receivable Specialist I
About the Job

Recruitment

Title:

Accounts Receivable Specialist I

Job Classification: 8221AA - Fin Pro 1-Accounts Receivable

This is a PEAK position.

Work environment:
Hybrid (minimum three days in the office)

Position Overview:

The University of Minnesota seeks an Accounts Receivable Specialist I to support our

Financial Operation Center department within the Controller's Office. Under general

supervision, the Accounts Receivable Specialist I is responsible for performing basic

accounts receivable activities and financial reporting transactions in support of a portfolio

of Resource Responsibility Centers (RRC) in the Finance Operations Center. Additionally, the

Accounts Receivable Specialist I collaborates with accounts receivable services and finance

professionals within the Finance Operations Center to ensure appropriate and timely

support. To succeed as an Accounts Receivable Specialist I, you should be professional, a

team player, and attentive while being detail-oriented. You must be comfortable with using

technology such as Team Dynamix (TDx) and Google Suite and excel at both verbal and

written communication. Most importantly, as an Accounts Receivable Specialist I should

have a genuine desire to meet the needs of others across the institution. You will report to

the Accounts Receivable Manager.

Job Responsibilities with % of Time:

Accounts Receivable (85%)

● Review and analyze moderately complex billing, foundation transfer, and invoice

adjustment requests sent to the Financial Operations Center prior to processing

them by analyzing the request, and resolving conflicting or missing information using

prior experience or knowledge base of the service center to ensure accuracy of

invoicing and financial reporting. Requests will be processed following University

standard methodologies, best practices, and procedures as well as independent

review and research including using team resources.

● Collaborate and communicate with University staff, external customers, and

colleagues as needed for clarification on billing requests, policy requirements, and

best practices, with occasional guidance.

● Analyze customer and contact information in the Enterprise Financial System (EFS)

vs. the information contained in the service request to determine if changes or

updates are needed for existing customers or request new customer records to be

created.

● When directed, review and analyze spreadsheets submitted, process for mass

transaction upload, and assist departments with reconciliation to their subsidiary

system.

● Analyze billing requests for applicability of sales tax, customer's tax exemption

status, accurate sales tax calculations for all states, and with guidance will consult

with the tax management office on more complex tax scenarios.

● Using the chart of accounts with developing proficiency and understanding, ensures

chart field string integrity on billing transactions to ensure accurate financial

reporting.

● Understands, explains, interprets, and applies university accounts receivable policy

to various scenarios.

● Collaborates with Accounts Receivable Services in the Controller's Office to obtain

further guidance on best practices and policy as well as to make changes and

updates to the customer record.

● Demonstrates a holistic understanding of billing requests of moderate complexity.

Reviews billing transactions for accuracy and completeness, sets them for

finalization, and submits credit and rebill transactions into the approval workflow.

● Understands where appropriate approvals are required in relation to accounts

receivable activity.

● Collaborates with accounts payable specialists in the processing of returned goods

and services as well as credit memos.

● Acts as a liaison with the UMN Foundation for fund requests and transfers.

● Understands beyond a basic level of key accounting and receivables functions,

Generally Accepted Accounting Principles, and other guiding concepts with

developing proficiency.

Professional Development (10%)

● May assist in the development of training manuals and procedures.

● Identifies and participates in opportunities for cross-training across unit functions to

maintain adequate coverage of all functions.

●…