Accounts Payable Specialist

5 days ago

Germantown, Maryland, United States HealthWell Foundation and HWF Direct LLC Full time

HealthWell Foundation is a Forbes 100-rated, Maryland-based 501(c)(3) non-profit organization that provides financial assistance to underinsured Americans to help them afford life-changing medical treatments. Our mission is to reduce financial barriers to care for underinsured patients living with chronic or life-altering diseases.

All positions at HealthWell are designed to proactively further its efforts in meeting its mission. Specifically, people in this position as an Accounts Payable Specialist in cooperation with HealthWell's Senior Management and overall leadership team in ensuring that all items pertaining to accounts payable are completed in an accurate and timely manner.

After the successful completion of onboarding activities as determined by the Director of Accounting, people in this position are expected to be in-office at least two days per week in accordance with the Foundation's remote working policy.

Key Success Factors

All HealthWell employees are expected to be reliable, organized, and detail oriented. Employees must work collaboratively with colleagues and external customers; handle sensitive/confidential information using discretion; possess project management skills and the ability to manage multiple priorities; and have strong verbal and written communication skills. HealthWell expects its employees to embrace, reflect, and promote the corporate culture of equity, inclusivity, and diversity.

Duties and Responsibilities

  • Receiving, reviewing, and entering vendor invoices into the accounting system, verifying accuracy of details like quantities, prices, and purchase order numbers before authorizing payment.
  • Matching invoice to purchase orders to ensure proper authorization for payment.
  • Establish and maintain relationships with vendors, resolving payment discrepancies and negotiating terms
  • Generate and ensure timely payments to vendors via check, ACH, or other methods.
  • Proactively following up with internal managers to ensure timely receipt of invoices or necessary signatures, minimizing delays in the accounts payable process.
  • Assigning appropriate general ledger codes to invoices, demonstrating critical thinking and careful evaluation to ensure proper financial reporting and compliance.
  • Understanding and applying prepaid and accrual concepts when coding invoices.
  • Assisting with the annual financial audit by providing supporting documentation and responding to auditor requests.
  • Assisting with the month-end closing process by preparing monthly journal entries and completing the accounts payable checklist to ensure all items are properly accounted for.
  • Assist with year-end Accounts Payable duties, including aging report analysis, monitoring outstanding checks, and Form 1099 preparation.
  • Requesting W-9 forms and ACH authorization forms from vendors, ensuring necessary documentation is collected for accurate payment processing.
  • Assist with internal audits and ensure compliance with company policies and regulations.
  • Identify opportunities to optimize cash flow and reduce costs associated with accounts payable.
  • Other duties as requested.

Key Technical Skills and Knowledge (if applicable)

  • Strong understanding of accounting principles
  • Excellent analytical and problem-solving skills
  • Proficiency in accounting software and ERP systems
  • Excellent communications and interpersonal skills to collaborate with various departments
  • Attention to detail and ability to work under pressure.

Qualifications & Education Requirements

  • Bachelor's Degree in Accounting, Finance or equivalent, relevant work experience
  • Experience with NetSuite or similar programs

Benefits Provided:

  • Medical, dental and vision insurance
  • 401(k) with up to 6% company match
  • Short & Long-term disability insurance
  • Life insurance
  • PTO and paid company holidays

EEO Employer

The HealthWell Foundation is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, or protected veteran status.

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