Intern - Accounts Payable

Frankenmuth Insurance is seeking a motivated individual to join our Accounts Payable team for a year-round internship opportunity.

Position overview:

The intern will support the Accounts Payable team by assisting with the management and processing of vendor payments, expense reports, and vendor relationships, ensuring accurate record-keeping and compliance with company policies. Additionally, the intern will handle departmental correspondence, including sorting and distributing incoming mail and preparing outgoing mail for timely and accurate delivery. This will include tasks such as state filings, information tax reporting, and unclaimed property management. The intern will also contribute to projects impacting accounts payable and treasury management.

Qualifications:

• Students should be currently enrolled and entering their sophomore-senior year in college
• Preferred major is Accounting
• Ability to organize data, manage multiple tasks and make decisions independently
• Able to communicate effectively

At Frankenmuth Insurance, we are a growing, multi-state leader in the property and casualty insurance industry, with assets of $1.5 billion and premium revenues over $700 million. As a young professional, you may not have ever thought of insurance as something you would explore. But Frankenmuth Insurance is a great place to start – and grow – your career. We are committed to investing in and retaining the industry’s top talent. We believe strongly in integrity, relationships, and work/life balance, resulting in many of our employees having decades of tenure with our organization.  Our philosophy for success rests on a very simple concept: our most prized asset is our people.

Essential Duties and Responsibilities:

1. Prepare, compile, and sort documents and data substantiating business transactions, such as invoices, cash, checks, account statements, cost reports, revenue and balance sheets.

2. Verify, code, and post details of business transactions, such as funds received and disbursed; total accounts to ledgers or computer spreadsheets and databases; audit invoices against purchase orders, research discrepancies, approve for payment.

3. Assist in developing month-end and annual accounting cycles.

4. Reconcile bank statements and general ledger accounts with various registers; report/reconcile any discrepancies and problems.

5. Monitor accounts payable and receivable to ensure that payments are up-to-date.

6. Review, balance, and interpret computer reports, and make necessary corrections.

7. Promptly assist employees, vendors, clients, or customers by answering questions related to accounts, procedures, and services.

8. Perform other duties as assigned.

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