Accountant

Job Description:

ITW Description:

Founded in 1912, Illinois Tool Works Inc. (NYSE: ITW) is a diversified, Fortune 200 manufacturing company that delivers specialized expertise, innovative thinking and value-added products to meet critical customer needs in a variety of industries. Ranked among Fortune's Magazine's most admired companies, the company focuses on solid growth, improving profitability and strong returns across its worldwide platforms and divisions. These divisions serve customers and markets around the globe, with a significant presence in developed as well asemerging markets. ITW's revenues totaled $15.93 billion in 2022.

Division Description

ITW Electrostatics, a division of Illinois Tool Works (NYSE: ITW), part of Test, Measurement and Electronics segment is industry leading manufacturer and designer of static control devices for equipment makers and end users. Electrostatics division revenues are ~$250MM per year and it is headquartered in Hatfield, PA USA. Division has operations in USA, Europe, China, and Asia, including nine manufacturing plants and 500+ employees. Electrostatics division brands include: SimcoION, Eltex, Pillar Technologies, Teknek, Opto Diode, Vortec, Paxton, AEGIS).

Job Summary

A key member of the finance team, the accountant works closely with the Financial Controller to ensure timely and accurate reporting of financial data and to provide information to the management team in support of strategic planning. The accountant is responsible for the daily processing of accounts receivable and accounts payable and supports the month-end close process. The role also includes significant professional growth and development opportunities.

Primary Responsibilities:

General Accounting

• Assist in maintaining accounts and financials according to ITW standards
• Prepare and post journal entries, assemble supporting documentation, and track the contents of general ledger accounts, including fixed assets, accumulated depreciation, prepaids and accruals
• Track 'Construction in Process' and capitalize assets put into service
• Assist in monthly reconciliation of balance sheet accounts, including the bank statement, fixed assets, AR, and AP
• Compile and report monthly Sales Tax data
• Review travel and purchasing card spend, ensuring proper documentation and approval. Post expenses to appropriate accounts
• Assist in other month-end close procedures as assigned

Accounts Receivable

• Process payments received from customers, applying payment and/or credit memos accurately and timely to customer invoices
• Send out daily customer invoices electronically and/or post invoices to customer payment portals when applicable
• Track and manage AR Balances
• Work with customers to ensure prompt payment of their invoices
• Review collection issues with the Controller

Accounts Payable

• Process invoices and vendor payments, as well as obtaining approval for payments
• Review and match the vendor invoice with the purchase order, approved packing slip, and items received in the system before payment
• Prepare check runs, ACH, and wires accurately and timely, ensuring that each disbursement is supported by a complete voucher package
• Maintain AP files and the filing of all accounts payable invoices/check copies
• Handle past due calls and investigate any problems
• Accrue use tax as necessary

Miscellaneous

• Research and resolve account discrepancies
• Assist in providing availability of accounting information for management reference
• Assist in internal and external audits from various agencies
• Prepare 1099's with company software program
• Develop and document business processes and accounting policies to maintain and strengthen internal controls
• Work with Controller to develop new procedures in the spirit of continuous improvement
• Provide input into department's goals and goal setting
• Other job-related duties as assigned

Qualifications:

• Bachelor's degree in Accounting, Finance, Business Administration, or related analytical field.
• Minimum 3 years previous accounting experience (manufacturing environment preferred)
• Demonstrated experience in Accounts Payable, Accounts Receivable, Fixed Assets, etc.
• Working knowledge of accounting principles and applications, including but not limited to accrual accounting and budgeting.
• Strong computer skills: Microsoft Office (Excel, Word, PowerPoint) with proficiency in MS Excel and the ability to manage large data sets using VLOOKUP's and Pivot Tables.
• Experience with Dynamics NAV and/or Dynamics 365 Business Central a plus.

Other:

• Action oriented and results driven with attention to detail and a high level of accuracy.
• Ability to manage and prioritize daily functions while adapting to work in an environment of change.
• Ability to communicate effectively with all levels in the organization and work well within a team.
• Maintain confidentiality about data such as budgeting information, operational results, and profit margin.
• Analyzes and summarizes data to draw rational fact base conclusions.
• Continuous improvement mindset focusing on high impact improvements (80/20 Principle).

Physical Requirements & Work Environment

The physical demands/work environment described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• While performing the duties of this job, the employee is exposed to a manufacturing environment including repetitive motion, bending, lifting, twisting, crouching, reaching, pushing and/or pulling.
• Ability to stand, walk, or sit for long periods.
• Ability to perform repetitive motion type tasks regularly such as walking, typing, using fingers and hands.
• Ability to regularly lift and/or move up to ten (10) pounds and rarely lift up to fifty (25) pounds.
• The ability to wear personal protective gear (safety shoes and glasses)
• Ability to communicate with others to exchange information.
• While performing the job functions of this position, the employee will have exposure to an environment near powered motor vehicles, power tools, and automated assembly fixtures.

Compensation Information:

Pay Range: 74,000-90,000

Our employees enjoy Competitive, merit-based Salaries, Plus Excellent Benefits including:

• Heath and dental insurance
• Company Paid Life insurance/short- and Long-Term disability
• 401K Plan with generous company Match
• Vacation, sick days, and Holidays
• Continuing education reimbursement program
• Flexible Spending Accounts