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WarnerMedia is a leading media and entertainment company that creates and distributes premium and popular content from a diverse array of talented storytellers and journalists to global audiences through its consumer brands including: HBO, HBO Now, HBO Max, Company., TNT, TBS, truTV, CNN, DC Entertainment, New Line, Cartoon Network, Adult Swim, Turner Classic Movies and others.
Purpose and Scope
This entry-level position exists to analyze and correct unidentified cash receipts for Warner Media domestic and international accounts that are not auto-posted. Additional responsibilities include preparing, balancing and reconciling finalized cash receipts, intercompany transfers, settling on-account credits against billed invoices and communicating information to the appropriate Business unit Accounting Groups.
Essential Duties and Responsibilities
Cash Application and Analysis (60%)
1. Analyze and correct unidentified cash receipts for domestic and international accounts that are not auto-posted.
2. Quantitative Measurements for Order to Cash Credit and Collections team:
1. North America ($10.5B Collections; 2500 Customers)
2. EMEA ($600M Collections; 1700 Customers)
3. LATAM ($500M Collections; 1500 Customers)
4. APAC ($200M Collections; 1200 Customers)
3. Input, research and apply cash received into the Accounts Receivable System.
4. Work with credit analysts, TCD accountants, various business unit accounting groups, international accounting offices and other departments to determine proper allocation of funds received.
5. Adhere to established policies and procedures to ensure financial integrity is maintained and key performance measures are attained. This requires a basic understanding of commonly used accounting principles, as well as general GAAP and SOX policies and concepts.
6. Strong working knowledge of Turner’s different revenue streams. The amount of cash posted on a monthly basis can range from $700-$900 million, approximately 50% of which is handled manually.
7. Perform all tasks while providing outstanding customer service, maintaining fiduciary responsibility and meeting performance guidelines.
8. Prepare, balance and reconcile finalized cash receipts against cash posted through general ledger and subledger reporting, ensure currency translation for foreign receivables has been accounted for accurately.
9. Update and balance cash reconciliation spreadsheets daily. Cash received from the bank, cash transferred in from and out of other business units, and cash entered in to A/R are reconciled to ensure all money has been posted accurately.
10. Upload reconciliation spreadsheets to appropriate Business Unit libraries on SharePoint in a timely manner.
11. Assist ABS, R2R groups in reconciling any variances.
12. Calculate total volume of cash posted, percentage of checks posted by next business day, number of invoices affected, and number of invoices by revenue stream monthly.
13. Escalate difficult cash application issues to the Global Cash Application Manager
Account Maintenance & Write offs (20%)
1. Reconcile customer accounts by determining validity and balancing billed invoices against on-account items in a timely manner
2. Process cash application forms as submitted by Accounts Receivable Analysts. These forms may also include requests to determine value-added tax (VAT) rate, bank charge, and/or exchange gain/loss of foreign cash received and write-off as appropriate.
3. Remove trade invoices from A/R system through write-offs.
4. Adherence to established policies and procedures to ensure financial integrity is maintained, proper documentation is collected to support financial audit and SOX GAAP requirements, and key performance measures are attained. These tasks assist in maintaining a clean A/R portfolio.
Journal Entries (10%)
1. Initiate intercompany transfer journal entries.
2. Process intercompany payments and forward documentation to the appropriate Business Unit Accounting groups. Intercompany payments are payments received in one of our accounts that belong to another business unit, department or sister company. The appropriate department needs to be located, the correct GL codes need to be determined, and the funds, along with complete and proper documentation, need to be forwarded to the department so that they are aware of how to allocate the funds.
3. Work with other departments to determine if funds received by them belong to any of the business units we service.
4. Ensure these payments are intercompanied to appropriate business unit that we service, and ensure funds are allocated correctly.
1. Review and research bank wire and ACH revenue reports to determine accurate account posting.
2. Identify and analyze trends to develop and recommend continuous process improvement.
3. Research discrepant cash applications to resolution
4. Perform various projects that assist the department achieve its collection efforts, including but not limited to:
◦ Researching, documenting and resolving large unapplied cash entries
Monitoring the lockbox for important non-check items such as bankruptcy notifications, and W-9 request forms.
Assisting clients with requests to trace payments, determine if payments were received, how they were applied, etc
Perform other tasks as needed.
Education and Experience
Bachelor’s degree in Accounting, Finance, Business or related fields are preferred
1-2 years related business experience
A working knowledge of Microsoft Office products (Outlook, Word, Powerpoint)
Experience in Peoplesoft Financials
Skills and Abilities
High personal integrity with strong analytical and strategic thinking skills
Ability to work in a fast-paced, deadline and goal driven environment
Proficient in a cash application environment
Demonstrated Analytical and Mathematical Skills.
Ability to work effectively across departmental teams.
Demonstrated Accounting and Finance Skills.
Experience in data entry and verification of information entered.
Access to well-being tools, resources, and freebies
2018 Best Company for Working Mothers
2018 Best Company for Dads
An in-house learning and development team to help shape and grow your career
Part of the WarnerMedia family of powerhouse brands
Turner Broadcasting System, Inc. and its subsidiaries are Equal Opportunity Employers and E-Verify users. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability, or protected veteran status.
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