Accounts Receivable/Accounts Payable Intern
Position Summary
The Accounts Receivable/Accounts Payable (AR/AP) Intern will support the Accounting team by assisting with daily financial operations and administrative accounting functions. This internship provides hands-on experience in corporate accounting, exposure to financial systems, and opportunities to develop professional skills in a fast-paced business environment. The intern will work closely with accounting professionals while gaining practical knowledge of accounts payable, accounts receivable, and month-end accounting processes.
Key Responsibilities
Accounts Payable (AP)
- Assist with reconciling vendor statements and identifying discrepancies.
- Support the processing and billing of received purchase orders.
- Research and follow up on outstanding vendor prepayments.
- Maintain accurate vendor records and documentation.
- Assist with invoice review and data entry activities.
Accounts Receivable (AR)
- Apply and post incoming customer payments accurately and timely.
- Assist with CSV payment uploads and payment processing.
- Gather supporting documentation for short-paid invoices and payment discrepancies.
- Help maintain customer account records and payment histories.
- Assist with collections-related research as needed.
General Accounting Support
- Perform data entry and maintain electronic and physical accounting records.
- Assist with month-end close activities and account reconciliations.
- Support process improvement initiatives and special projects.
- Prepare reports and documentation as assigned.
- Collaborate with team members to ensure accuracy and efficiency in accounting processes.
Learning Opportunities
Throughout the internship, the successful candidate will have the opportunity to:
- Gain hands-on experience with accounts payable and accounts receivable processes.
- Learn to work within an ERP system, including NetSuite.
- Develop advanced Excel skills and improve financial data analysis capabilities.
- Enhance organizational, problem-solving, and professional communication skills.
- Gain exposure to corporate accounting practices and financial controls.
Qualifications
- Currently pursuing a degree in Accounting, Finance, Business Administration, or a related field.
- Basic understanding of accounting principles and financial terminology.
- Strong attention to detail and organizational skills.
- Proficiency in Microsoft Office, particularly Excel.
- Ability to handle confidential information with professionalism.
- Strong written and verbal communication skills.
- Ability to work independently and as part of a team.
Expected Outcomes
By the conclusion of the internship, the intern will:
- Demonstrate a working knowledge of AR/AP processes and accounting workflows.
- Successfully contribute to day-to-day accounting operations.
- Develop proficiency in Excel and NetSuite.
- Strengthen analytical, organizational, and professional communication skills.
- Gain valuable real-world accounting experience in a business environment.
Newbury Franklin Industrials ("NFI") is the data-driven industrial manufacturing and distribution platform of Newbury Franklin, a private equity firm focused on long-term holdings. NFI's team is comprised of hungry, growth-oriented professionals who thrive on making a direct impact and driving measurable results across our expanding portfolio of companies.