Senior Accountant - Accounts Payable & Procure-to-Pay

About the role

Become a vital part of Lightning AI's newly established in-house accounting team, where you will take charge of the entire procure-to-pay process. This role requires you to design and implement a comprehensive cycle that encompasses everything from processing invoices to executing payments. As a key player in a fast-growing organization with considerable operational and infrastructure costs, your contributions will have a direct effect on financial statements, fixed assets, and overall revenue costs.

Key facts

What you'll do

• Oversee the entire accounts payable workflow, which includes the intake of invoices, coding, approval routing, and the matching of purchase orders through both 2-way and 3-way methods, culminating in payment processing.
• Address and resolve any payment-hold issues or exceptions by identifying and rectifying their root causes.
• Execute payment runs using various methods such as ACH, wire transfers, and credit cards, while ensuring strict adherence to approval thresholds, wire release protocols, vendor bank detail changes, and fraud prevention measures.
• Maintain the integrity of vendor master data by managing onboarding processes, collecting W-9/W-8 forms, and conducting regular data reviews.
• Work closely with the Infrastructure and Procurement teams to manage expenditures related to hardware and data centers, including deposits, progress payments, and documentation for in-service dates.
• Consistently apply the correct capital versus expense classification during coding and escalate any items that require a technical accounting review.
• Monitor activities related to construction-in-progress and assist in the roll-forward of capitalized costs.
• Identify colocation, hosting, and equipment agreements that may include embedded leases, ensuring compliance with ASC 842 accounting standards.
• Prepare accruals for goods and services received but not yet invoiced, focusing on comprehensive coverage of variable and high-value infrastructure costs.
• Reconcile the accounts payable subledger with the general ledger, including accrued liabilities, prepaid expenses, and corporate card clearing accounts.
• Provide documentation that is ready for audits and respond to inquiries from auditors regarding payables, accruals, and unrecorded liabilities.
• Manage reimbursement processes and corporate card programs on Ramp, ensuring that receipts are reviewed and policies are adhered to.
• Handle annual 1099 reporting and other relevant information submissions.
• Support the accrual of use tax and property tax through accurate coding of equipment purchases across various operating states.
• Document accounts payable policies, procedures, and controls, implementing necessary segregation of duties in anticipation of future public company requirements.

Requirements

• A minimum of 4 years of accounting experience, with a strong focus on accounts payable or the procure-to-pay cycle.
• A Bachelor's degree in Accounting, Finance, or a related discipline is essential.
• Familiarity with purchase orders, 3-way matching, and receiving protocols, particularly in environments with significant physical goods or capital expenditures.
• A solid understanding of accrual accounting and month-end closing procedures, including the ability to create complete accruals even with incomplete information.
• Experience in processing a high volume of payments, particularly those of significant dollar amounts, with a strong emphasis on control measures.
• Ability to thrive in an environment without established processes, demonstrating initiative in building documentation as needed.

Nice to have

• CPA certification or actively pursuing it is a plus.
• Experience in industries such as data centers, infrastructure, hardware, manufacturing, or construction is advantageous.
• Knowledge of fixed asset accounting and capitalization policies would be beneficial.
• Familiarity with NetSuite or similar ERP systems, as well as experience with accounts payable automation and spend management platforms like Ramp, Bill, or Coupa.
• Exposure to vendor financing or structures related to equipment purchases is a plus.

Skills & tools

• Proficiency in NetSuite (preferred)
• Familiarity with Ramp (preferred)
• Experience with Bill (preferred)
• Knowledge of Coupa (preferred)

Practical notes

The benefits package includes comprehensive health insurance (medical, dental, vision), meaningful equity options (RSUs), 401(k) matching for U.S. employees, unlimited paid time off, a company-wide winter break, paid parental and family leave, a professional development allowance, wellness stipends, work-from-home stipends, and a sabbatical program after four years of service. Note that benefits may vary based on location, team, and specific role within the company.