Revenue Accounting Manager

PRIMARY RESPONSIBILITIES

• • • The Revenue Accounting Manager will engage in the following:

• • • Manage set-up of new clients, new client revenue contracts, and projects in our cloud-based accounting software, Sage Intacct.
    • Analyze new contracts for appropriate revenue recognition. Ensure compliance with appropriate GAAP standards and regulatory requirements. Specifically, understand the applicability of ASC Topic 606 Revenue Recognition and ASC 958-605 Not-for-Profit Entities—Revenue Recognition.
    • Work closely with the Budget Manager to provide new project information so he/she can create budgets for each new project.
    • Prepare invoicing schedules for new contracts; process monthly invoices to clients and funders according to the invoicing schedule; ensure accurate accounting and revenue recognition.
    • Monitor changes in our cloud-based CRM (Monday.com) sales pipeline and ensure the pipeline is reconciled to our invoicing schedule and Sage Intacct weekly.
    • Work directly with Business Development and Program teams to ensure the sales pipeline is complete and all revenue-generating contract work is captured in the pipeline. Provide weekly updates to Finance and Business Development teams identifying submitted revenue opportunities noted in the pipeline with missing information needed for accurate tracking.
    • When necessary, coordinate with project leads and/or Budget Manager to ensure project work is on schedule and appropriate to bill in accordance with the predetermined invoicing schedule.
    • Prepare monthly reporting of outstanding A/R to Senior Director, Finance and Manager, Financial Reporting, following up with clients and funders as needed to ensure timely revenue collection (collected within 60 days).
    • Maintain accurate accounting in Sage Intacct, updating weekly for payments received and updating monthly, for revenue releases.
    • Respond to customer and funder requests for payment instructions, W-9 information, and other vendor compliance information needed to facilitate contract or payment finalization. Provide responsive service by being quick and accurate with communication.
    • File monthly sales and use tax returns with applicable states.

• • • Collaborate with Teaching Lab Program and Shared Services divisions to identify new or enhanced financial-rated products and services necessary to optimize programmatic impact and operational efficiency, and manage plans to develop and finalize products and services.
    • Seek and respond to feedback from team members and adjust strategies and operations accordingly.
    • Analyze collections and provide up-to-date A/R reporting to inform management decisions made by the Program and Executive teams.

• • • Stay abreast of key research and guidance in the field, and attend learning experiences to build skills and competencies in operations.
    • Engage in personal and organized learning opportunities as a team member at an organization that aspires to be anti-racist and champions racial equity.
    • Seek and respond to feedback from staff and adjust operational processes accordingly.
    • Create and deliver training to other team members on core skills or competencies within Revenue Accounting Manager role, which is also transferable and critical for other roles

• • Perform other duties as assigned by the Senior Director, Finance, or Executive Team.

KEY SUCCESS INDICATORS (KSIs)

• • • The Revenue Accounting Manager is accountable for achieving goals set in collaboration with the Senior Director, Finance aligned with FY24 goals, and especially, operational-specific Key Success Indicators (KSI) like:

• • • Maintain Financial Stability:
    • Teaching Lab is a financially sustainable organization with efficient financial operations.
    • 80% of invoices are collected within 60 days
    • Earned Revenue/philanthropy ratio does not fall below 40%/60%
    • Profit margin remains at least 6%
    • Annual net income maintains a forward-looking 4-6 month cash reserve
    • Operational overhead cost (administrative and fundraising) is <25%

• • • Operate efficiently and equitably:
    • Develop and refine internal operational structures and systems to allow all team members and contractors to do their best work every day.
    • 80% of employees report that organizational platforms (monday.com, Justworks, Expensify, etc) increased their organizational collaboration, efficiency, or transparency
    • 90% of FTEs and PTEs agree that they “have the data or information I need to do my work right
    • 90% of employees agree that the work processes and procedures are clear and sufficient.
    • 100%, on average, of leads and clients are tracked in the CRM, following business rules, by the end of each month
    • 100%, on average, of earned revenue and philanthropic pipeline data is updated, usable and accurate by the end of each month

• • Innovation and Cost-effectiveness: 
  • Teaching Lab maintains cost of services at or below $1,500/teacher/year
  • As applicable, within the role, model the radical commitments for our values (i.e., collaboration, responsive service, research, excellence, learning with humility, and equity).

ESSENTIAL QUALIFICATIONS

• • Bachelor’s degree in Accounting or Finance, or in a similar field, like Business Management
  • 5+ years of proven experience in accounting or finance
  • Broad knowledge of accounting principles (GAAP), laws, and best practices for nonprofit organizations
  • Proficiency with Sage Intacct, or similar financial accounting management system
  • Proficiency with Excel
  • Ability to communicate processes and procedures required for appropriate revenue recognition
  • Self-starter, able to prioritize and manage projects to completion while meeting established deadlines.

DESIRED QUALIFICATIONS

• • Experience with Federal grant accounting standards

WORKING CONDITIONS AND REQUIREMENTS

• • Ability to work a flexible schedule to support operational needs
  • Ability to perform the essential project, duties and responsibilities with or without accommodation
  • All team members are expected to support program/project needs which could mean that you play multiple roles at Teaching Lab (i.e., project lead, support, subject matter expert, etc.).
  • Travel could be required for the role.  Travel is determined based on business needs and can vary depending on partnership/contract requirements.

TEACHING LAB’S VALUES AND COMPETENCIES

• • • Teaching Lab seeks to fundamentally shift the paradigm of teacher professional learning by reaching more educators every year with the highest impact programming.
    • Teaching Lab’s ultimate goals are:
    • Educators learn more than they would without us
    • Students learn more than they would without us, in a way that cannot be predicted by race, gender, or family income
    • Educators we serve say they love our approach and they want to keep doing it to advance educational equity

• • Collaboration
  • Responsive Service
  • Research
  • Excellence
  • Learning with Humility