Accounts Receivable Specialist II

About the Job

Recruitment

Title:

Accounts Receivable Specialist II

Job Classification: 8222AA - Fin Pro 2-Accounts Receivable

This is a PEAK position.

Work environment:
Hybrid (minimum three days in the office). This hybrid position is based on the Twin Cities campus for those located in the metro area. Applicants located near other UMN system campuses or working remotely from home may also be considered, and we encourage all interested candidates to apply. Occasional travel to the Twin Cities campus may be required for events and all-staff meetings.

Position Overview:

The University of Minnesota seeks an Accounts Receivable Specialist II to support our Financial Operation Center department within the Controller's Office. The Accounts Receivable Specialist II is responsible for performing moderately complex 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 II 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 II, 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, an Accounting Receivable Specialist II should have a genuine desire to meet the needs of others across the institution.

You will report to the Accounts Receivable Manager.

• Review and analyze all types of billing requests, foundation transfers, and invoice adjustment requests sent to the Financial Operations Center prior to processing. This involves evaluating the request, resolving conflicting or missing information using prior experience and the service center's knowledge base to ensure accuracy of invoicing and financial reporting. Requests of all complexities are managed independently and efficiently without undue oversight, relying on informed judgement and a thorough understanding of University standard methodologies, best practices, and procedures.
  
  Processing includes independent review and research of transactions of varying complexity to ensure accurate and timely completion.
• Collaborate and communicate clearly and concisely with University staff, external customers, and colleagues as needed for clarification on billing requests, policy requirements, and best practices.
• Analyze customer and contact information in the Enterprise Financial System 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.
• Works with mass transaction entry, reviews submission for quality assurance, process uploads, monitors for problems, and resolves issues.
• Utilizes their expertise of the full order to cash business process to advise departments on the appropriate billing processes to use; proactively identifies transactions of a repetitive nature, processes without the need for a service request ensuring that these transactions are timely and accurately recorded in the system.
• Analyze billing requests for applicability of sales tax, customer's tax exemption status;
  Consults with tax management office on more complex scenarios, and prepares transactions for accurate sales tax calculation for all states.
• Uses the chart of accounts with expertise and understanding, ensures chart field string integrity on billing transactions to ensure accurate financial reporting.
• Understand, explain, interpret, and apply 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.
• Demonstrates a holistic understanding of billing requests of all complexities, sets them for finalization, and submits credit and rebill transactions into approval workflow.
• Ensures appropriate approvals for rebills and credit requiring approval, as well as UMN Foundation transfer approvals with a thorough understanding of justification and fund-use requirements.
• 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.
• Fully understands and independently applies key accounting and receivables functions, Generally Accepted Accounting Principles, and other guiding concepts with proficiency.
• Can be assigned as a Portfolio Team Resource to assist in coordinating requests, questions, training, and offering first-line guidance to their respective portfolio.

• Contributes to training manuals and procedures for the Finance Operations Center and can participate in the training of staff.
• Identifies and…