Accounts Payable & Accounts Receivable Specialist

Magswitch Automation Company•Superior, CO

4h•$65,000 - $75,000

About The Position

Magswitch is seeking a detail-oriented, proactive Accounts Payable & Accounts Receivable Specialist to support the company’s day-to-day financial operations. The position manages accounts payable and accounts receivable, with a strong focus on customer collections, credit risk monitoring, accurate cash application, timely vendor payments, and maintaining accurate financial records. The specialist works in NetSuite and across e-commerce, customer, credit-reporting, payment, and expense-management platforms. The role involves investigating discrepancies, resolving payment issues, following up on overdue balances, evaluating customer creditworthiness, and coordinating with internal teams, customers, and vendors to process transactions accurately and efficiently. Strong organization, attention to detail, ownership, and the ability to manage competing priorities are important to success. Magswitch is a global leader in magnetic lifting solutions. It designs and manufactures magnet technologies used by industrial and automation customers to improve material-handling safety and efficiency, with manufacturing operations worldwide.

Requirements

At least three years of experience in accounts payable, accounts receivable, or a combined AP/AR role.
Experience obtaining and reviewing business credit reports, assessing customer creditworthiness, and supporting customer credit-limit decisions and ongoing credit monitoring.
Experience with customer collections, AR aging analysis, cash application, and resolving overdue customer balances is highly desirable.
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.
Experience using state and local tax payment portals to process and track tax payments.
Strong Excel skills, including analyzing transaction data, performing reconciliations, and investigating 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 professional communication with customers about 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.
Proactive approach to problem-solving, process improvement, and maintaining accurate financial records.
Individuals who need employment sponsorship now or in the future are not eligible for hire; the position does not offer sponsorship.

Nice To Haves

Hands-on experience with NetSuite is strongly preferred.
Familiarity with Paymode, EchoBilt, Salesforce, Business Credit Reports, or similar customer payment, credit-reporting, billing, and operational systems.

Responsibilities

Manage the day-to-day accounts receivable process, including payment application, account reconciliations, and follow-up on outstanding balances.
Manage customer collections, monitor aging reports, and consistently follow up on overdue invoices to improve collection timing and reduce past-due balances.
Maintain accurate customer account records, document collection activity, and establish 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 collection risks, recurring delays, and accounts requiring additional attention.
Apply cash receipts accurately and promptly, matching payments 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 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.
Run and review business credit reports to evaluate customer creditworthiness, identify potential credit risks, and support 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 customer risk.
Monitor customer credit exposure, payment trends, outstanding balances, and credit limit utilization; recommend credit-limit or payment-term adjustments as appropriate.
Identify customers whose balances, overdue payments, or changing credit profiles may warrant credit-limit review, 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.
Document credit reports, approved credit limits, and subsequent reviews; support consistent credit reviews and periodic reassessments.
Manage accounts payable, including invoice receipt, coding, approval routing, vendor statement reconciliations, and payment preparation.
Review vendor invoices for accuracy, 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 meet 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, meeting deadlines and retaining confirmations.
Maintain organized records of vendor invoices, payment confirmations, tax filings, and supporting documentation.
Assist with monitoring company spending and ensure AP transactions comply with financial controls and approval policies.
Use NetSuite as the primary accounting system to process transactions, maintain financial records, and support account reconciliations.
Use Shopify, Walmart, Amazon, Paymode, EchoBilt, Salesforce, Business Credit Reports, Ramp, and other applicable systems 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, organized documentation for financial transactions, reconciliations, credit reviews, and audit requests.
Support monthly close by recording AP and AR transactions in the correct accounting period and completing assigned reconciliations promptly.
Identify process and system improvements to transaction accuracy, collection effectiveness, credit monitoring, payment processing, and overall efficiency.
Follow internal controls and promptly escalate unusual transactions, unresolved discrepancies, potential credit concerns, and other control issues.