Accounts Receivable Specialist

About the Job

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.

Work environment:
This hybrid position is based on the Twin Cities campus. For those located in the metro area, a minimum of three days per week in the office is expected. Internal and external applicants located near other UMN system campuses and across the State of Minnesota 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.

Out of state candidates must be willing to relocate to Minnesota at their own expense.

Job Responsibilities with % of Time:

• 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…