What are the responsibilities and job description for the Accounts Payable Specialist position at Lex Products?
About the job
Job Title: Accounts Payable Specialist
Department: Finance and Accounting
Lex Products is an innovative manufacturer of power distribution and energy storage solutions, serving industrial, commercial, entertainment, and military markets. Our products are designed to deliver reliable, high-performance power distribution in demanding. This is a unique opportunity for you to be involved with a made in the USA manufacturing company.
The Accounts Payable Specialist will be responsible for managing the full-cycle accounts payable process, including vendor statement reconciliation, overhead payment processing, ACH and vendor setup, and year-end 1099 reporting. The ideal candidate will also support audits, manage credit applications, and oversee escheatment compliance.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Invoice Processing & Approval
Review, balance, and prepare invoices for payment. Ensure accurate coding, proper approvals, and compliance with company policies and accounting standards.
Accruals, Reconciliations & Forecasting
Prepare/support weekly cash requirement forecasts, monthly payable accruals, and account reconciliation.
Vendor Statement Reconciliation & Inquiries
Regularly reconcile vendor statements to ensure all invoices are accounted for and discrepancies are resolved promptly. Promptly research and respond to vendor calls and written inquiries
ACH & Vendor Setup
Set up and maintain vendor profiles, including ACH payment information, while ensuring compliance with internal controls and data security protocols.
1099 Year-End
Process Lead the preparation and distribution of 1099 forms, ensuring compliance with IRS regulations and timely year-end reporting.
Audit Support
Assist internal and external auditors by providing documentation and responding to inquiries related to accounts payable processes.
Escheatment Process
Manage the semi-annual escheatment process, including due diligence, documentation, and reporting in compliance with applicable state regulations.
Credit Applications
Complete and submit credit applications for new vendors and maintain records of credit terms and agreements.
Special Projects & Other Duties
Participate in special projects such as system enhancements as requested. Perform other assigned tasks and duties as requested by manager.
QUALIFICATIONS:
The qualifications below are representative of the knowledge, skill, and/or ability required but do not constitute the complete list of everything that may help one be successful in this role.
- Must be a team player who is also able to work independently and adhere to Lex Products core values.
- Knowledge of GAAP and basic accounting principles.
- Intermediate proficiency in Microsoft Office is required, especially Excel, Outlook, and Word.
- Ability to maintain a high level of confidentiality required.
- Must be collaborative and able to work with employees at all levels of the organization.
- Must have the ability to exercise discretion and independent judgment on assigned tasks and responsibilities.
- Must be detail-oriented with a high degree of accuracy, work well under pressure in a fast-paced environment, have the flexibility to deal with multiple changing priorities and be able to also meet deadlines within determined timeframes.
- Must be self-motivated and a critical thinker who possesses strong analytical and problem-solving skills.
- Must possess excellent organizational, communication and interpersonal skills.
- Must possess a process improvement mindset with willingness to challenge current processes.
- Experience in providing exceptional customer service to a broad base of stakeholders with ability and interest to learn business operations.
EDUCATION and/or EXPERIENCE:
- Associate degree in finance, accounting, or related field required at minimum.
- 3-5 years of accounts payable experience.
- Proficiency with Made to Manage platform a plus.
- Strong understanding of AP best practices and processes, 1099 reporting, and escheatment laws.
Job Type: Full-time
Pay: From $34.61 per hour
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Disability insurance
- Flexible schedule
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid sick time
- Paid time off
- Vision insurance
Work Location: In person
Salary : $35