Accounting Specialist

ITW • Glenview, IL • 2d ago

Job Description:

Magnaflux (https://www.magnaflux.com/Magnaflux) , a division of Illinois Tool Works (Fortune 250), is a leading worldwide supplier of magnetic particle, dye penetrant inspection equipment and associated chemical products used for applications within the Aerospace, Automotive, Oil & Gas and Energy markets. With over 85 years in the industry, Magnaflux offers employees a competitive salary and comprehensive benefit package, including medical, dental and life insurance, 401(k) with immediate company match, and much more!

Company Benefits

Best in Class Benefits: Our total rewards package is broad and offers comprehensive support ranging from health and wellness, to retirement and financial stability.

Affordable Medical, Dental, Vision Insurance to meet you and your family's needs

HSA/FSA with a company match

Income Protection Benefits

Industry Leading 401(k) plan with company match

Paid Time Off

Parental Leave

Matching Gift and Volunteer Program

Opportunities to Get Involved and Give Back

Our Employee Resource Groups (ERGs) are employee-led organizations that bring together diverse groups of people to share experiences and innovative ideas to help accelerate our path to full potential

ITW Hearts Giving Hope Program provide employees an opportunity to give back and help families in our neighborhoods who are in need

Reporting to the NA Accounting Controller, as a key member of our Accounting & Finance team, you will be responsible for managing day-to-day accounts receivable activities, ensuring timely cash application, accurate billing, and effective collections. This position supports manufacturing operations and interacts with customers, internal departments, and external partners to ensure smooth cash flow and account reconciliation.

Hours: Monday to Friday - 8:00am - 4:30pm

Essential Job Responsibilities:

Process and apply incoming customer payments accurately and in a timely manner (checks, ACH, wire transfers).

Monitor accounts for overdue balances and follow up with customers regarding outstanding invoices.

Generate customer statements, invoice copies, and account reconciliations as needed.

Communicate professionally with internal departments (sales, customer service, operations) to resolve billing and payment issues.

Research and resolve payment discrepancies, short payments, and unapplied cash.

Maintain accurate and organized AR records in ERP system (e.g., Sage500, Acumatica, or similar).

Prepare AR aging reports and assist with monthly/quarterly close processes.

Assist with Accounts Payable (AP) functions as needed, including invoice vouchering and ensuring proper coding and approvals.

Assist in audit requests and ensure compliance with internal control procedures.

Recommend and implement process improvements to enhance AR efficiency.

Qualifications:

Associate's or Bachelor's degree in Accounting or related field required

2+ years of experience in Accounts Receivable, in a manufacturing or industrial environment preferred.

Strong working knowledge of AR processes including cash application, collections, and reconciliations.

Ability to foster collaborative, effective relationships at all levels of the organization

A dependable and proactive individual who can work independently and as part of a team.

Proficiency in accounting software and highly skilled in Excel; intermediate knowledge of Word and PowerPoint.

Experience with Power BI or Acumatica ERP is a plus

Willingness to travel domestically at least 4 times per year

Compensation Information:

Pay Range $ 26.20 to $35.00 hourly.

ITW is an equal opportunity employer. We value our colleagues' unique perspectives, experiences and ideas and create workplaces where everyone can develop their careers and perform to their full potential.

As an equal employment opportunity employer, ITW is committed to equal employment opportunity and fair treatment for employees, beginning with the hiring process and continuing through all aspects of the employment relationship.

All qualified applicants will receive consideration for employment without regard to race, color, sex, gender identity, sexual orientation, religion, national origin, age, disability, protected Veteran status or any other characteristic protected by applicable federal, state, or local laws.

ITW

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