Merchants Bank, Winona, has an opening for an Accounts Payable Specialist. This role is responsible for all parts of accounts payable including processing, approval workflow, reporting, and payment of invoices and related taxes. Also responsible for vendor management and recording of fixed assets. A 4 year degree in Accounting is preferred but we will accept a 2 year Accounting of Bookkeeping degree. Prefer accounts payable processing experience.
This role is responsible for all parts of the Accounts Payable function, for Merchants Bank and Merchants Financial Group, and for the Accounts Payable system in Prologue. They will be the expert for the processes, approval workflow, reporting and payment of all invoices and related taxes due. Also responsible for vendor management and reporting at year end. Will also include the recording of fixed assets from purchases made with proper accounting lives and depreciation. Will be responsible for the escheatment process for identifying dormant accounts and other assets that need to be reported.
- Review and code all invoices for proper general ledger classification.
- Ensure proper approval through the workflow process before payment.
- Monitor and adjust any invoice for sales tax to ensure that the appropriate amount is remitted to the State.
- Verify that all invoices have appropriate documentation and approval from department managers, ensuring such documentation is included in the A/P system for reference.
- Monitor for duplicate payment of invoices.
- Return invoice to employees submitting the invoice when proper documentation is lacking, requesting that such documentation be received prior to payment.
- Process invoices that need to be allocated to various company affiliates.
- Acquire W-9 form when needed.
- Enter all invoices for payment and generate a report for check back.
- Enter multi-bank transactions from accounts payable.
- Will be responsible for managing and updating all allocation information in Prologue system (Statistical Journal Entries). Will work with others in HR, Finance, Marketing, IT to identify proper allocation methodologies and detail to keep system up to date monthly or as items change.
- Report Sales & Use Tax to the State of Minnesota monthly for Merchants Bank & Merchants Financial Group
- For any new fixed asset, record fixed asset in Prologue and ensure methods and lives are appropriate. Run depreciation reports as needed.
- Process miscelleanous 1099's at Year-end.
- Responsible for escheatment process and file Unclaimed Property annually in October.
- Check daily the MN Management & Budget for EFT Payment
- Back-up for withholding reports.
- Employee may be asked to perform other duties as required by business needs.
- Employee will be expected to complete compliance and product knowledge assignments in a timely manner.
- Employee will be expected to contribute to a positive working environment through words and actions.
- Employee will be expected to greet internal and external customers in a friendly and outgoing manner.
- Employee will be expected to take responsibility to insure that internal and external customers receive outstanding service.
- Regular and dependable attendance is an essential function of the job.
Inside working conditions; comfortable temperature and working atmosphere. No environmental hazards. Low noise level.
Primarily requires sitting at desk, high degree of finger dexterity. Will generally not require any lifting of more than 10 lbs. Terminal/PC work requires good eyesight/ability to focus quickly.
Mental Demands/Skill Requirements:
- Awareness and understanding of accounts payable software to facilitate research.
- Understanding of Fixed Asset Policy.
- Awareness of sales tax requirements.
- Knowledge of Employee Expense Policy.
- Knowledge of Taxable Fringe Benefits Policy.
- Understanding of Signature and interaction with Prologue accounts payable software.
- Basic accounting background including knowledge of general bookkeeping, fixed assets, accrued and prepaid expenses.
Responsible to Vice President/Controller for fulfillment of job duties, responsibilities and interpretations thereof.
Will have contact with vendors and several employees throughout the Bank and will also have limited customer contact.