General Summary
This role is a member of the Accounting Shared Services team primarily responsible for cooperative equity accounting and vendor management within Accounts Payable. Responsibilities include maintaining accurate records related to patronage-based equity, including stock issuance, patronage refunds, revolvements and redemptions for Southern States as well as approximately twenty-five member cooperatives. This role is also responsible for vendor administration, ensuring vendor data integrity and strong internal controls.
Essential Job Functions
Maintains and reconciles member equity accounts, including stock and patronage allocations.
Supports the calculation and recording of patronage refunds (cash and equity allocations).
Prepare and process annual dividend payments, patronage refunds, and equity revolvements in accordance with cooperative bylaws and Company policies and procedures.
Processes membership redemptions and maintains appropriate documentation ensuring transactions are recorded accurately and in accordance with cooperative policies.
Serves as a point of contact for patrons and member cooperatives regarding inquiries regarding equity accounts and balances.
Manages vendor setup and maintenance, including creating and updating vendor records in the accounting system
Obtains and maintains required tax documentation and banking information for vendors.
Prepares journal entries related to member equity activity and accounts payable as needed.
Prepares account reconciliations as assigned.
Assists with forfeiture and escheatment processes for stock records and accounts payable.
Supports the federal tax reporting requirements for stock records and accounts payable, including 1099-DIV, 1099-PATR, 1099-MISC, and 1099-NEC, ensuring compliance with applicable regulations.
Assists with month-end and year-end close processes.
Supports financial, bank, and other external audits as needed.
Qualifications
Requires bachelor's degree in accounting or related field
1-2 years of accounting experience preferred
Working knowledge of accounting principles (GAAP)
Requirements
Strong attention to detail and organizational skills
Effective analytical, problem solving and communication skills
Proficient with Microsoft Excel and various accounting systems
Ability to manage confidential financial and member information
What We Do
Welcome to Southern States Cooperative's Company Page! You can also visit www.southernstates.com for special updates, our library of articles and more! Ask us for expert advice on farming, raising livestock, gardening and more. Our Mission Our mission is to be customer-focused and the best at providing products, services and growing solutions for farms and around the home...Farmer owned since 1923. Our Values Embrace our agricultural heritage. We recognize the deep roots we share with the farming communities in which we operate. As such, we will continue to embrace the people, the rural way of life, and the leadership opportunity we've been given for the stewardship and preservation of farming, the environment and our rural communities. Do our best, no matter what. Determination. Initiative. Reliability. The cornerstones of a good day's work. We recognize the trust our customers place in us and we realize there will always be challenges. With this in mind, we never let obstacles get in our way and we hold ourselves accountable as we strive to do our best every single day. Always be neighborly. We are committed to honor and practice the values we share with our farming communities: integrity, high ethical and moral standards, and respect for the land, patrons and for our associates. -- Southern States Cooperative reserves the right to collect User Generated Content such as submitted photos and videos to use in marketing materials where appropriate and to remove any and all inappropriate post content. Our team strives to answer your questions as quickly and accurately as possible through all of our social networks.
