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Cash Application Temporary Opportunity (Estimated 6 month project)

Company: Stratas Foods
Location: Memphis
Posted on: July 1, 2024

Job Description:

Company Description

Stratas Foods LLC is the leading supplier of fats and oils to the Foodservice, Food Ingredients and Retail Private Label markets in North America and is a producer of quality bulk and packaged dressings, mayonnaise and sauces. Stratas Foods was formed in October 2008 as a 50/50 joint venture between ACH Food Companies (ACH) and Archer Daniels Midland (ADM).

Manufacturing facilities are located in Dallas and Houston, TX; Decatur and Quincy, IL; Englewood, NJ; Fresno, CA; Nashville, TN; and Valdosta, GA. Corporate offices are located in Memphis, TN. We are committed to maintaining a progressive workplace by utilizing the ideas, skills and talents of all of our employees. We strive to make Stratas Foods a great place to work and are building a team capable of meeting our business goals.

Stratas Foods is hiring hiring for several temporary positions within the Finance and Accounting department.

Temp assignment estimated time frame: Now - December 31 (Some temp assignments could be extended for a longer time frame)

Location: Onsite position working out of our corporate office off Goodlett Farms Parkway, Cordova TN.

Job Description

The Cash Applications Coordinator is responsible for processing customer payments via checks, wire transfers, and ACH/ EDI payments, as well as reviewing accounts for miscellaneous cash adjustments as needed. The coordinator will report to the Credit Manager and will be expected to work independently along with maintaining contact with ADM Credit to resolve issues. The coordinator is also responsible for establishing chargebacks to be processed by Deduction Team in the Blacksmith dispute management system.

1. Review daily open cash report and apply payments to customer accounts. Create chargebacks on accounts as required to properly reflect the customers' remittance advice detail.

2. Review A/R history to research open and unresolved customer account issues.

3. Process daily adjustments to A/R to offset deductions and credits, write-off items to cash discounts or sales allowances and to offset other A/R items as requested.

4. Work with the Credit and the Deduction team regarding existing and new EFT accounts,

5. Make necessary adjustments to customer accounts for splitting or adjusting chargebacks as requested by the Deduction Team.

6. Correspond with ADM staff as needed to adjust customer accounts and surface cash issues. Validate all payments received have been recorded in the correct accounting period for both US & Canada.

7. Transfer cash to appropriate lockboxes that has been received incorrectly at the Memphis location.

8. Research duplicate payments, obtain approval and submit any overpayment refund to Accounts Payable for processing.

9. Other projects as requested by management to support the A/R and Cash Application function.

10. Balance Cash Received in AR to Bank daily and resolve any differences with ADM Credit and Treasury.

11. Analyze and provide drivers to Accounting Manager for any discrepancies between Cash Applied and Cash Received for the Cash Clearing (account 12230) Reconciliation

12. Provide back-up as requested by Internal and External Audit. Work directly with auditors to answer any questions they have on back-up provided or cash application process.

13. Work directly with ADM and Stratas IT to resolve any issues with file receipt and posting.

14. Perform chargeback reinstatements when needed.

15. Manage and resolve open cash report. Provide explanations for all open amounts at month-end.

16. Train Cash Application back-up.

17. This is a temporary position for an estimated 6 month project.

Qualifications

Education: High School Diploma. Some college or business education or experience required.

Related Experience: Three to five years' experience in Accounts Receivable, Credit or Cash Application required.

Equipment/Software Skills: Strong PC skills including the use of Microsoft Outlook, Word, and Excel. Familiarity with IBM mainframe software would be a plus.

Additional Information

Competencies:

Analytical - Focus placed on detailed accuracy, Collects and researches data; Uses intuition and experience to complement data.

Analytical - Focus placed on detailed accuracy, Collects and researches data; Uses intuition and experience to complement data.

Initiative - Without prompts, asks for and offers help when needed. Willing to identify processes in need of improvement and suggest corrective courses of action.

Written Communication- Edits work for content, meaning, completeness, comprehension, spelling and grammar; Presents numerical data effectively; Able to read and interpret written information

Forward Thinking - Uses experience to develop routine and ad-hoc reporting that identifies trends and significant variances that require explanation and follow-up.

Stratas Foods is an equal opportunity employer and will not discriminate against any applicant or employee in any manner prohibited by law, including but not limited to, on the basis of race or color, religion, gender, age, genetic information, national origin/ancestry, mental or physical disability, family status/marital status, sexual orientation, military/veteran status, and any other legally protected status.

Pay Transparency Nondiscrimination Provision-The Employer will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the Employer's legal duty to furnish information. 41 CFR 60-1.35(c)

Stratas Foods Applicant Request for Accommodation Form:

Stratas Foods California Privacy Rights Act Policy:

Keywords: Stratas Foods, Memphis , Cash Application Temporary Opportunity (Estimated 6 month project), Other , Memphis, Tennessee

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