VTCRC Senior Accountant - General in Blacksburg, Virginia at Virginia Tech Foundation

Position Title: VTCRC Senior Accountant - General

Virginia Tech Foundation, Inc. (VTF) is a nonstock corporation established in 1948 for the sole purpose of managing Virginia Tech’s endowment and real estate portfolio, now valued at $2.8 billion. VTF exists and operates as a separate, independent entity with its own officers and governing board – managing, investing, and distributing private resources to advance Virginia Tech’s mission and its strategic priorities. VTF’s wholly owned for-profit subsidiary, Virginia Tech Corporate Research Center, Inc., is a research park that catalyzes commercialization and industry collaboration.

Position Summary:

Reporting to the Director of Accounting and Financial Reporting, this position is responsible for the day-to-day accounting operations, including complex reconciliations, analyzing financial data, and ensuring compliance with accounting standards while maintaining the accuracy and timeliness of all financial records of the VTCRC.

Roles & Responsibilities:

Accounts Receivable:

• Function as the tenant liaison by actively managing tenant accounts and resolving billing disputes and discrepancies
• Regularly review the aging of accounts receivable to identify overdue invoices and prioritize and perform collection efforts
• Contact tenants with outstanding balances for prompt payment, including phone calls, emails, and collection letters
• Coordinate and maintain the electronic ACH program with tenants and process monthly revenue collection services
• Create and distribute invoices to tenants in a timely manner, ensuring proper billing details and compliance with contractual terms
• Prepare the daily cash receipts deposit in accordance with established policies and procedures
• Accurately apply tenant payments to their respective accounts in the accounts receivable system
• Generate deposit documents to upload deposit information to Banner electronically
• Utilize bank statements to verify all deposits have been properly accounted for and posted to Banner
• Work with the Director of Real Estate and Contracts Administrator to maintain current and accurate tenant billing information related to leases and applications
• Reconcile accounts receivable balances at month end to ensure accurate financial reporting

Accounts Payable:

• Manage and maintain all aspects of the VTCRC accounts payable process
• Track all vendor invoices received for payment, ensuring invoices are paid in an accurate and timely manner
• Verify all invoices have received proper authorization of approval in accordance with established policies and procedures
• Work with the Contracts Administrator to properly code the disbursement, ensuring the integrity of financial reporting
• Review requests for payment prepared by the Administrative Assistant for accuracy and completeness prior to submitting for payment
• Review vendor invoices for misuse and discuss potential problems with the Director of Accounting and Financial Reporting
• Make copies of vendor invoices related to tenant reimbursement to the organization
• Make copies of prepayment expenditures to ensure proper period accounting by posting necessary journal entries
• Responsible for resolving outstanding vendor issues, including researching vendor accounts and working with VTF and VTCRC staff as needed to resolve discrepancies
• Collect and provide to VTF staff vendor W-9 forms for taxpayer identification number verification for new vendor setup in the procurement system

Corporate Credit Cards:

• Responsible for managing and reconciling VTCRC corporate credit card process in accordance with established policies and procedures
• Work with VTF staff for new card requests and credit limit increases as deemed necessary
• Collect all credit card receipts and supporting documentation from cardholders to ensure transactions qualify as approved business expenses and adhere to the VTF disbursement procedures
• Verify the credit card receipts have been signed by the cardholder and a business purpose listed as the reason for the expenditure
• Responsible for categorizing the expense based on predefined classifications (fund and account code)
• Retrieve monthly statements from the Wells Fargo Corporate Card Platform, match the credit card receipts to the statement, and contact the cardholder to obtain any missing receipts
• Prepare the monthly expense report, journal entry, and request for payment for each cardholder, itemizing the charges incurred for the month
• Obtain the necessary approvals of the expenditures prior to processing for payment

Journal Entries and Reconciliations:

• Responsible for preparing and processing journal entries to accurately record all business transactions, ultimately contributing to the integrity of financial reporting in accordance with GAAP
• Ensure all journal entries are prepared accurately and in a timely manner to meet all financial reporting deadlines
• Provide a concise explanation of each transaction for clarity and auditability
• Electronically upload and post journal entries in Banner, identifying and correcting any errors promptly
• Prepare and review monthly and quarterly reconciliations, checking for and taking action to resolve any discrepancies between the financial information in Banner and the supporting documentation
• Perform reconciliations consistently to identify issues promptly while adhering to established internal controls to minimize the risk of errors

Fixed Assets/Storage:

• Responsible for managing the VTCRC fixed assets and coordinating with VTF staff to ensure that all assets are accounted for both physically and in the accounting records
• Communicate and share supporting documentation for any asset purchases or dispositions to VTF staff in a timely manner
• Process asset disposal requests, including approvals and documentation on method and valuation of disposal
• Responsible for verifying assets are purchased in accordance with established policies and procedures in terms of the funding source

Other Duties:

• Participate in and provide documentation for both internal and external audits
• Assist with financial planning and forecasting activities
• Prepare property management statements for privately owned buildings
• Maintain and update accounting policies and procedures
• Maintain internal controls to safeguard assets and ensure compliance with regulations and standards
• Prepare ad-hoc financial reports upon request
• Identify opportunities to streamline processes, such as implementing automation tools or revising workflows, to improve efficiency and accuracy

Qualifications:

• Bachelor’s degree in Business Administration with a concentration in Accounting or Finance preferred
• Certified Public Accountant (CPA) preferred
• Knowledge of Generally Accepted Accounting Principles (GAAP)
• Minimum of five years accounting experience
• Ability to prioritize tasks, multitask, and work effectively under pressure with various deadlines with minimal supervision
• Proficient with Microsoft Office Suite and experience in QuickBooks preferred

Virginia Tech Foundation is an Equal Opportunity Employer.