This position is responsible for the efficient and effective processing of all credit union invoices, Credit Union Board/Volunteer and employee reimbursements and corporate card expenditures, and ensuring payments are valid and properly authorized. This position is responsible for the appropriate general ledger account coding when entering invoices to ensure compliance with Generally Accepted Accounting Principles (GAAP) and has the latitude to interact with all levels of management in a polished and professional manner. The Accounts Payable Specialist is responsible for performing research for, and providing information to, Credit Union staff and management regarding the company's payable disbursements. The Credit Union is required to self-assess use tax on relevant expenditures when sales tax is not assessed by the vendor. This position is responsible for understanding State, County, City, and other taxing authorities' requirements and rates to ensure appropriate use tax is calculated, posted, and remitted according to deadlines published by the taxing authorities. Additional duties include, but are not limited to, maintaining the Credit Union records of personnel authorized to approve various Credit Union expenditures, maintaining vendor records, managing the accounts payable files to include record retention, and ensuring the accuracy of 1099 vendor IRS reporting at year end. This position is responsible for composing and maintaining updated department procedures related to this function, and for assessing efficiencies, exploring solutions, and submitting recommendations to improve the Accounts Payable function.
Essential FunctionsAccounts Payable Daily Functions: Review payment requests received from various cost centers for Accounts Payable processing and ensure expenditure is properly authorized and coded consistent with GAAP. Ensure capitalized or prepaid expenditures are captured accurately and notify the Accounting Specialist for proper recording on the Fixed Asset system. Follow through with the appropriate cost center manager and/or vendor on past-due invoices, and other accounts payable-related research activities. Ensure new vendors are OFAC-verified, W-9 documentation is obtained, and create ACH payment record when relevant ensuring payment method is vendor-authorized. Process payments according to procedures, ensuring vendor remittance information is correct, and payments are accurate and in balance, while ensuring invoices have not been previously paid. Monitor and resolve outstanding stale Accounts Payable checks. Keep Accounting management apprised of status to ensure compliance with State escheatment laws and regulations. Process Corporate Credit Card Visa Itemization ensuring transactions are posted to the correct general ledger account. Assess the use tax on relevant transactions. ? Perform other duties as requested by supervisor commensurate with this position.Accounts Payable Tax Remittance / Records: Manage and maintain information and records related to use tax remittances. Follow up with vendors when necessary, engaging the services of Compliance when relevant to assure vendors who should be assessing sales tax are appropriately notified. Manage and maintain sales tax collections from repossessed vehicle sales. Maintain vendor, employee, and volunteer records and accounts payable files and records to include proper 1099 year-end reporting and record retention.Accounts Payable Process Maintenance / Improvement: Develop, revise, and maintain procedures for assigned processes and tasks. Assess efficiencies, explore solutions, and submit recommendations to improve the Accounts Payable workflow and function to management. Assist in projects related to the Accounts Payable function to include core-release testing of software such as Concur.Bank Secrecy Act: Remains cognizant of and adheres to Ent policies and procedures, and regulations pertaining to the Bank Secrecy Act.