Accounts Payable & Accounts Receivable Specialist

Job Description

Job Description

Accounts Payable & Accounts Receivable Specialist

Department: Finance

Reports to: VP of Finance

Position Type: Full-Time

Salary Range: $65,000-$75,000

POSITION SUMMARY

We are seeking a detail-oriented and proactive Accounts Payable & Accounts Receivable Specialist to support the day-to-day financial operations of a growing business. This role manages accounts payable and accounts receivable, with a strong emphasis on customer collections, credit risk monitoring, accurate cash application, timely vendor payments, and accurate financial records.

The ideal candidate has hands-on experience with NetSuite and a variety of e-commerce, customer, credit reporting, payment, and expense management platforms, including Shopify, Walmart, Amazon, Paymode, EchoBilt, Salesforce, Business Credit Reports, and Ramp. This individual will be comfortable researching discrepancies, resolving payment issues, following up on overdue balances, evaluating customer creditworthiness, and coordinating with internal teams, customers, and vendors to ensure transactions are processed accurately and efficiently.

Strong organizational skills, attention to detail, ownership of assigned responsibilities, and the ability to manage competing priorities are essential to success in this role.

KEY RESPONSIBILITIES

Accounts Receivable & Customer Collections

• Manage the day-to-day accounts receivable process, including payment application, account reconciliations, and follow-up on outstanding balances.

• Proactively manage customer collections, monitor aging reports, and follow up consistently on overdue invoices to improve collection timing and reduce past-due balances.

• Maintain accurate customer account records, document collection activities, and establish clear follow-up actions and escalation plans for delinquent accounts.

• Investigate and resolve customer payment discrepancies, short payments, deductions, credits, unapplied cash, and disputed invoices.

• Partner with Sales, Customer Service, and other internal teams to resolve billing issues and remove obstacles to timely payment.

• Monitor customer payment terms and identify potential collection risks, recurring delays, and accounts requiring additional attention.

• Apply cash receipts accurately and timely, ensuring payments are matched to the appropriate customer invoices and accounts.

• Reconcile customer transactions and settlements across Shopify, Walmart, Amazon, Paymode, EchoBilt, Salesforce, and other applicable platforms.

• Investigate differences between marketplace or payment platform settlements and NetSuite records, including fees, deductions, refunds, returns, and timing differences, as applicable.

• Maintain accurate supporting documentation for customer balances, collections, and account reconciliations.

• Prepare and maintain AR aging, collection status reports, and other accounts 

receivable reporting for management review.

Customer Credit Management

• Run and review business credit reports using Business Credit Reports to evaluate customer creditworthiness, identify potential credit risks, and support informed credit decisions.

• Partner with the VP of Finance and Sales to establish appropriate customer credit limits based on credit reports, payment history, outstanding balances, anticipated business volume, and overall customer risk.

• Monitor customer credit exposure, payment trends, outstanding balances, and credit limit utilization on an ongoing basis, recommending adjustments to credit limits or payment terms as appropriate.

• Proactively identify customers whose outstanding balances, overdue payments, or changing credit profiles may warrant a review of their credit limits, and escalate concerns to the VP of Finance and Sales.

• Review customer accounts for potential credit limit exceptions and communicate concerns before additional exposure is incurred.

• Maintain documentation of credit reports, approved credit limits, and subsequent reviews to support consistent credit management and internal controls.

• Support the development and maintenance of a consistent customer credit review process, including periodic reassessments and additional reviews when payment patterns or credit conditions change.

Accounts Payable & Vendor Management

• Manage the accounts payable process, including invoice receipt, coding, approval routing, vendor statement reconciliations, and payment preparation.

• Review vendor invoices for accuracy, appropriate general ledger coding, supporting documentation, duplicate payments, and compliance with company policies.

• Process vendor bills and employee expenses through NetSuite and Ramp, ensuring proper coding, approvals, and timely payment.

• Coordinate vendor payment runs and monitor payment status to ensure obligations are met in accordance with agreed payment terms and cash management priorities.

• Reconcile vendor statements, investigate discrepancies, and resolve outstanding invoices, credits, and payment issues.

• Maintain accurate vendor master data and follow established procedures for vendor onboarding and banking information changes.

• Coordinate with internal stakeholders and vendors to resolve invoice discrepancies, missing approvals, and payment inquiries.

• Monitor and process tax payments through applicable state and local tax payment portals, ensuring payment deadlines are met and confirmations are retained.

• Maintain organized records of vendor invoices, payment confirmations, tax filings, and other supporting documentation.

• Assist with monitoring company spending and ensuring AP transactions comply with established financial controls and approval policies.

Systems, Reconciliations & Financial Controls

• Utilize NetSuite as the primary accounting system for processing transactions, maintaining accurate financial records, and supporting account reconciliations.

• Work across multiple platforms, including Shopify, Walmart, Amazon, Paymode, EchoBilt, Salesforce, Business Credit Reports, and Ramp, to validate transactions, review credit information, and resolve discrepancies.

• Reconcile e-commerce and marketplace activity to NetSuite, including sales, customer payments, settlement deposits, fees, refunds, and deductions, as applicable.

• Identify and investigate discrepancies between operational systems, payment platforms, bank activity, and the general ledger.

• Maintain complete and organized documentation to support financial transactions, reconciliations, credit reviews, and audit requests.

• Support the monthly close process by ensuring AP and AR transactions are recorded in the correct accounting period and assigned reconciliations are completed timely.

• Identify opportunities to improve transaction accuracy, collection effectiveness, credit monitoring, payment processing, and overall efficiency through better processes and system utilization.

• Follow established internal controls and promptly escalate unusual transactions, unresolved discrepancies, potential credit concerns, and other control issues.

QUALIFICATIONS & EXPERIENCE

• Minimum of three years of experience in accounts payable, accounts receivable, or a combined AP/AR role.

• Hands-on experience with NetSuite is strongly preferred.

• Experience with customer collections, AR aging analysis, cash application, and resolving overdue customer balances is highly desirable.

• Experience obtaining and reviewing business credit reports, assessing customer creditworthiness, and supporting customer credit limit decisions and ongoing credit monitoring.

• Experience with Ramp or a similar spend management and AP automation platform.

• Experience working with e-commerce and marketplace platforms such as Shopify, Amazon, and Walmart.

• Familiarity with Paymode, EchoBilt, Salesforce, Business Credit Reports, or similar customer payment, credit reporting, billing, and operational systems.

• Experience using state and local tax payment portals to process and track tax payments.

• Strong Excel skills, including the ability to analyze transaction data, perform reconciliations, and investigate discrepancies.

• Understanding of general accounting principles, invoice processing, payment application, account reconciliations, and month-end close activities.

• Strong organizational skills and exceptional attention to detail.

• Effective written and verbal communication skills, including the ability to communicate professionally with customers regarding outstanding balances, payment issues, and credit-related concerns.

• Ability to work independently, prioritize deadlines, and follow through on outstanding items in a fast-paced environment.

• A proactive approach to problem-solving, process improvement, and maintaining accurate financial records.

COMPANY OVERVIEW

Magswitch is a global leader in magnetic lifting solutions. We design and manufacture advanced magnet technologies that help industrial and automation customers improve material‑handling safety and efficiency. Our products are widely used in automotive assembly and other automation heavy industries with manufacturing operations worldwide.

Compensation and Benefits

We offer a highly competitive compensation package designed to support your health, well-being, and financial security. Our comprehensive benefits include:

• Medical, dental, and vision insurance
• Retirement plan with 401(k) matching
• Paid time off
• Paid leave programs
• Health Savings Account (HSA)
• Flexible Spending Account (FSA)
• Basic and Voluntary Life insurance
• Short- and Long-term disability insurance
• Employee Assistance Program (EAP)
• Employee referral program
• Tuition reimbursement

In accordance with Colorado law, the salary range disclosed for this role represents a good-faith estimate of the base compensation. Actual compensation will be based on factors such as experience, skills, and qualifications.

Magswitch is an equal opportunity employer and is committed to providing equal employment opportunities to all employees and applicants without regard to race, color, religion, sex, national origin, age, disability, genetic information, or any other protected characteristic. We comply with all applicable federal, state, and local nondiscrimination laws in every location where we operate. This policy applies to all aspects of employment, including recruitment, hiring, placement, promotion, compensation, benefits, training, and termination.

Note: This position does not offer sponsorship. Individuals with temporary visas such as E, F-1(including those with OPT or CPT) , H-1, H-2, L-1, B, J or TN, or who need sponsorship for work authorization now or in the future, are not eligible for hire.