This position is responsible for debit balance collection and reporting. Duties include contacting suppliers to request payment, reviewing statements of account from suppliers, and reconciliation of those statements to Best Buy records. This position must communicate with internal and external business partners for the collection of debit balance accounts and with a third-party collection agency that performs collection activity on select accounts. The position is responsible for documenting collection activity in the Debit Balance database, preparing weekly and monthly reporting from the database, and preparation of entries for cash receipts and AP balance adjustments.

In addition, this position will review all early payment requests received from our vendors, make the decision to accept or reject vendor offers, determine the fees to charge for the services. Complete all necessary entries to release payment and collect fees. Work with internal Treasury team to determine fund availability. This position will also solicit business through email campaigns and phone communication as well as work directly with third party vendors to expand the scope of the program.

Key Responsibilities:
1. Debit Balance
a) Subject Matter Expert on US debit balance collections.
b) Contact suppliers who are in debit balance (owe money to Best Buy) and request payment. This may require a review of the supplier's statement of account to ensure their record matches Best Buy's.
c) Work with internal and external business partners to validate balances, resolve disputes, and establish method of collection.
d) Prepare monthly reporting of debit balances and debit balance reserves
e) Book cash receipts and adjusting entries related to debit balances.
f) Meet monthly with third party collection agency to review results and new vendors
g) Negotiate settlements as needed

2. Early Payment
a) Manage “Early Payment” process to ensure all transactions are completed as agreed to and fees collected timely.
b) Review vendor requests, accept or reject offers, negotiate and determine fee to charge for services.
c) Post required entries to make payments.
d) Audit and maintain the AP Visibility Early Pay Portal to ensure vendor visibility, APR accuracy and pull through dates
e) Work closely with internal business partners (Treasury, Merchants & AP Stakeholders)
f) Respond to email questions and researches inquiries on a variety of AP related topics.

Basic Requirements:
• 1 year or more previous experience in Accounts Payable or Finance role
• Intermediate skill level utilizing Excel (pivot tables, v-lookups, etc.) and Word
• Advanced communication skills, both written and verbal
• Quick learner, strong interpersonal skills
• Ability to quickly identify issues and provide recommendations to resolve
• Ability to work cross-functionally with internal and external business customers
• Highly efficient and able to multitask and effectively manage time
• Effective negotiation skills with internal and external business partners

Preferred Requirements:
• High school diploma
• Associate’s Degree with an emphasis in accounting/finance or equivalent experience
• Experience with Access, Retek, Oracle or another ERP system
• Strong demonstrated analytical and decision-making skills
• Experience working with multiple cross-functional business partners