Staff Accountant

Staff Accountant

Department: Finance and Accounting

Reports to: Controller

Employment Type: Full-time

Location: University of the Potomac Campus 

Position Overview

We are seeking a detail-oriented Staff Accountant to join the Finance team at the University of the Potomac. This role supports the Controller in maintaining accurate financial records and ensuring the integrity of the University's accounting operations.

The Staff Accountant is primarily responsible for Student Accounts and supports Accounts Payable functions. Responsibilities include reconciling student payments and financial aid, processing invoices, performing account reconciliations, assisting with month-end and year-end close, preparing financial reports, and providing excellent customer service to students and campus departments.

Key Responsibilities:

Students Accounts Maintenance

·       Maintain accurate student financial accounts within the Student Information System (SIS).

·       Record and reconcile student payments received through banks, online payment systems, ACH, wire transfers, and other payment methods.

·       Apply and reconcile financial aid, scholarships, grants, tuition assistance, and other funding sources to student accounts.

·       Process student account adjustments resulting from enrollment changes, withdrawals, refunds, scholarships, and financial aid transactions.

·       Ensure student account balances accurately reflect all charges, payments, credits, financial aid, and adjustments.

·       Perform reconciliations between multiple Student Information Systems (SIS), the financial aid system, and the general ledger.

·       Research and resolve discrepancies involving student accounts and financial aid postings.

·       Prepare and maintain reconciliation schedules and supporting documentation.

Student Collections and Customer Service

·       Review student account balances to identify delinquent or past-due accounts.

·       Contact students regarding outstanding balances and work collaboratively to obtain payment or establish approved payment arrangements.

·       Monitor payment plans and follow up to ensure timely account resolution.

·       Respond to student, parent, faculty, and staff inquiries regarding tuition charges, payments, financial aid, refunds, billing, and account balances.

·       Coordinate with Financial Aid, Admissions, Registrar, Student Services, and other departments to resolve account discrepancies.

·       Maintain accurate documentation of collection activities and payment arrangements in accordance with College policies.

Accounts Payable

• Partner with the Senior Accountant to support the College's accounts payable function.
• Review vendor invoices for accuracy, proper approvals, and account coding in accordance with College policies.
• Assist the Senior Accountant in preparing and processing weekly vendor payment runs, including checks, ACH, and electronic payments.
• Process employee reimbursement requests and maintain supporting documentation.
• Reconcile vendor statements and assist in resolving invoice and payment discrepancies.
• Maintain accurate accounts payable records and ensure timely filing of supporting documentation.
• Assist with month-end accounts payable accruals, reconciliations, and closing activities.

General Accounting

• Prepare journal entries related to student accounts, cash receipts, accounts payable, and other assigned accounting functions.
• Reconcile assigned general ledger accounts and subsidiary ledgers.
• Assist with monthly, quarterly, and annual financial close processes.
• Prepare account analyses, reconciliations, and supporting schedules.
• Assist in preparing financial reports and other management reports.
• Analyze financial data, identify trends or discrepancies, and recommend corrective actions.
• Assist the Controller with annual audits by preparing schedules and supporting documentation.
• Perform other duties as assigned.

Required Qualifications

• Education: Bachelor's degree in Accounting, Finance, or related field

• Technical Skills: Proficiency in accounting software (QuickBooks, Sage Intact, NetSuite, Microsoft Dynamics/GP or similar platforms)

• Software Proficiency: Advanced Excel skills and familiarity with Microsoft Office Suite

• Analytical Skills: Strong analytical and problem-solving abilities

• Communication: Excellent written and verbal communication skills

• Attention to Detail: Exceptional accuracy in data entry and financial analysis

• Organization: Strong organizational skills with ability to manage multiple priorities

Preferred Qualifications

• Prior experience in higher education or nonprofit accounting (1-2 years)

• Knowledge of fund accounting principles

• Experience with student information systems

• Familiarity with federal compliance requirements for educational institutions

• CPA certification or progress toward certification

• Experience with grant accounting and reporting

Essential Skills & Attributes:

Technical Competencies

• Understanding of GAAP (Generally Accepted Accounting Principles)

• Basic knowledge of internal controls and audit procedures

• Ability to learn new financial systems quickly

Personal Qualities

• Team Collaboration: Works effectively with colleagues across departments

• Adaptability: Flexible approach to changing priorities and deadlines

• Professional Integrity: Maintains confidentiality and ethical standards

• Time Management: Meets deadlines consistently while maintaining quality

• Continuous Learning: Shows initiative in professional development

What We Offer

• Competitive salary commensurate with experience

• Comprehensive benefits package including health, dental, and vision insurance

• Retirement plan with university matching

• Professional development opportunities

• Tuition assistance programs

• Collaborative and supportive work environment