Accounts Payable Specialist

Company Description

Illinois Tool Works Inc. (NYSE : ITW) is a global Fortune 200 diversified manufacturing company that delivers specialized expertise, innovative thinking, and value-added products to meet critical customer needs in a variety of industries.   ITW, with approximately 14.1 billion dollars in global revenues, operates 7 major segments with businesses in 57 countries that employ approximately 45,000 women and men. These talented individuals, many of whom have specialized engineering or scientific expertise, contribute to our global leadership in innovation. We are proud of our broad portfolio of more than 16,000 active patents.

StampTech Fasteners TM Division Description :

The ITW StampTech Fastener Division serves the major OEMs and Tier suppliers in the North American automotive market.  The division supplies stamped metal fasteners and engineered fastener assemblies that leverage our deep-draw stamping technologies.  The annual revenue for the division is approximately $160M.  Locations include Gallatin, TN, Lexington, KY & Naugatuck, CT.

The Division drives profitability by leveraging its innovative solutions and application engineering.  In addition to ITW’s industry leading research and development capabilities, StampTech Fasteners TM enhances our customers’ competitive advantage by maintaining advanced engineering and manufacturing facilities in North America, exchanging product, process, and benchmarking information with sister units worldwide and continually improving processes, material, and designs to ensure every product provides value and meets customer expectations.

Job Description

The position will be responsible for managing financial transactions related to vendor payments, ensuring all bills are paid accurately and on time by processing invoices, verifying purchase orders, reconciling discrepancies, preparing payments, and maintaining accurate financial records, all while adhering to company policies and procedures.

Key Responsibilities

• Follow all established safety, health and Company policies, procedures, and recognized practices
• Process and issue payments to vendors in a timely manner (payment process may include checks, ACH, wire transfers, and inter-company netting)
• Reconcile accounts payable general ledger balances and reports.
• Research and document the disputes of vendor invoices
• Match invoices with proper PO’s and ensure accuracy for price, receipt quantity and approvals.
• Process inventory invoices for payment using 3-way match of PO, receiver, and invoice ensuring all appropriate documentation and approval
• Process non-inventory invoices ensuring all appropriate documentation and coding and approval is accurate
• Work with the Receiving Personnel to verify inventory receiving transactions
• Assist with Month End close and prepare reconciliations of assigned balance sheet accounts.
• Respond to vendor request of invoice payment status and remittance details and resolve discrepancies and past due items
• Maintain accounts payable records in an orderly fashion, including check log
• Verify and document vendor banking change information
• Responsible for the Accounts Payable accrual journal entry preparation and other journal entries, as assigned
• Assist with annual physical inventory process
• Assist with audit support as needed
• All other duties as assigned by manager

Qualifications

Physical Demands & Work Environment

Additional Information

ITW Culture & Leadership Expectations :

ITW is an Equal Opportunity / Affirmative Action employer.  All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, or protected veteran status.

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.