Accounts Receivable Analyst

Innovance, Inc.

Innovance is the holding company for a family of five, 100% employee-owned, Minnesota-based manufacturing companies (Lou-Rich, ALMCO, Panels Plus, Mass Finishing, Jorgensen). Our mission is to lead, nurture, and grow a team of industrial manufacturing companies committed to making our OEM customers’ products better.

Position Description:

Responsible for all accounts receivable functions including data entry and posting of all cash receipts and billing, reports to management on the status of customer accounts, claim and returns authorizations, tracking of receivables, necessary filing and analysis. Setting up new, updating, and maintaining of all customer files. Ensure that all of the above-mentioned items are completed in an accurate, timely, and professional manner.

Essential Functions:

· Reconcile customer invoices and sales transactions, noting payments less discounts.

· Record and post payments from checks, ACH, wire transfers, and credit cards. Ensure payments are applied correctly and resolve discrepancies between invoices, payments and bank statements.

· Monitor accounts receivable aging, implement collection strategies, contact customers regarding overdue balances, negotiate payment plans, and escalate unresolved accounts to management.

· Support month-end and year-end closing processes and provide management with financial insight.

· Resolve customer disputes, maintain strong relationships with clients, and collaborate with sales, finance, and customer service teams to ensure accurate billing and timely payments.

· Maintain accurate customer files in company management systems; keeping track of name changes, mergers, address changes, tax rate changes and mailing attention for all divisions and relaying this information to appropriate personnel.

· Perform monthly, quarterly, and yearly sales tax payments. 

Other Duties 

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

· Knowledge of accounting principles, AR processes, and industry regulations

· Strong numerical and analytical skills to handle financial data accurately

· Proficiency in accounting software (e.g., QuickBooks, Sage 50, or ERP systems) and Microsoft Excel

· Bachelor’s or Associates Degree in Accounting/Finance with 1-2 years previous accounting experience preferred.

· Excellent communication and phone skills.

These descriptions reflect the principal functions of the job for the purpose of job evaluation. It should not be construed as a detailed description of all work requirements of the job nor shall be construed as giving exclusive responsibility for every function described.

Innovance Training Requirements:

· Applicable training will be completed by following the syllabi (Human Resources, Safety, IFS - Timeclock, IFS - Navigation, ISO) for each new hire and that will be verified by the Employee Orientation & Job Qualification form within the first 60 days of employment. Additional applicable training will be completed by following the individual’s assigned department training matrix, Finance (F4400-049).

· Follow Finance training syllabus (Technical from above list). Effectiveness of training guidelines will be determined by employee knowledge and demonstration of learned concepts. Additional training after the first several weeks of on-the-job training will be determined by the Supervisor in preparation to operate on their own as needed. Any follow-up training will be evaluated and provided at the 60-day review or as deemed necessary for the position.

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to use hands or fingers and talk and hear. 

Work Environment:

The work environment characteristics described here are representative of those and employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Americans With Disabilities Act:

If you are a qualified individual with a disability, you have a right to request that the Authority make reasonable accommodations in order to help you accomplish your work, which must still be performed in all essential functions.

Compensation details: 24-30 Hourly Wage

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