Accountant Vendor Funds Recovery

Responsibilities:

• Anticipates customer needs and assures they are met.

• Develops processes to support individual customer unique or special needs

• Takes action and provides remedies for lapses in service

• Meets or surpasses service standards 

• Develops and presents change recommendations or requirements to Finance Leadership team 

• Work with Departments on submission errors

• Track and provide feedback on recurring subpar submissions 

• Provide customer service seamlessly across the Health System  

• Coordinate collection and review of vendor statements, prioritize data so accounts with higher funds recovery potential are worked and tracked 

• Monitor and analyze Bank of America payment activity to project and validate refund.

• Prepare journal entries as necessary for above accounts. Work with Corporate Accounting Department for variance explanations.

• Analyze, review and prepare checks for escheatment. Checks are escheated six times per year by state.

• Prepare sales tax and fuel tax refund petitions, develop usage schedules and provide supporting document to attach to State Refund forms.

• Review open/uncashed AP checks on a monthly basis. Work with AP Rep or Pat/Accounting Rep to confirm validity of payment. Take next steps to clear or void the open check.

• Analyze data and prepare monthly account reconciliations for Cash, AP Liability, Bank of America, and other miscellaneous accounts. Reconciliations will tie to the general ledger and provide detail explanations for variances as well as expected clear dates.
• Analyze AP/MM data from Lawson system to find incorrect payments and incorrect system returns. Use data to recapture dollars from vendors. 
• Prepare monthly Key Performance Indicator reports. Report will show activity at staff and department level, including number of invoices processed by team member, cost per check, discounts earned and missed, etc.
• Track “Out-of-Process” activity, such as invoices sent to incorrect address, price discrepancies, and returns not processed in Lawson. 
• Review and approve vendor add and change requests. Work with AP Staff, Corp MM and end-user departments to ensure the integrity of the Vendor Master file.
• Performs duties in accordance with Penn Medicine and entity values, policies, and procedures.
• Other duties as assigned to support the unit, department, entity, and health system organization.

Education or Equivalent Experience:

• Bachelor's degree is required.
• 2+ years of experience in accounting or accounts payable is required.
• Experience working in a shared services department is preferred.
• Experience with Lawson Accounts Payable, Cash Management and General Ledger applications is preferred.