Accounts Payable Job Description

Accounts Payable job description for the financial professional that is responsible for managing the company’s financial transactions and ensuring that all bills and invoices are paid in a timely manner. This job requires a keen eye for detail and excellent organizational skills to keep track of all the financial documents and ensure they are processed correctly. The role also involves communication with vendors and internal departments to resolve any discrepancies and ensure that all transactions are accurately recorded in the accounting system. Overall, the Accounts Payable role is critical to the financial health of the organization and requires an individual who is diligent, detail-oriented, and able to work well under pressure.

Alternate job titles:

Purchase Ledger Clerk, Accounts Payable Specialist, Invoice Processor, Expense Coordinator, PayablesAccountant, Payment Processor, Accounts Payable Administrator, AP Clerk

Common Job Duties - Accounts Payable

Statements of Responsibility

– Processing invoices and payments
– Reconciling accounts payable transactions
– Maintaining accurate vendor records
– Responding to vendor inquiries and resolving issues
– Reviewing and verifying expense reports
– Ensuring compliance with company policies and procedures
– Generating accounts payable reports
– Maintaining organized and accurate filing systems
– Assisting with month-end closing processes
– Monitoring and managing accounts payable aging reports
– Collaborating with other departments to resolve discrepancies
– Managing vendor relationships
– Conducting audits of accounts payable processes
– Participating in software implementation and upgrades
– Maintaining and reconciling petty cash accounts
– Providing support for audits and compliance reviews
– Processing and issuing 1099 forms
– Preparing and processing wire transfers
– Recording and reconciling purchase orders
– Managing and tracking expense accruals
– Communicating with other departments to ensure timely and accurate payments
– Providing training and support to team members
– Maintaining confidentiality of sensitive financial information
– Ensuring timely payment of invoices to avoid late fees and penalties
– Identifying opportunities for process improvements and cost savings
– Verifying and reconciling employee expense reimbursements
– Assisting with budgeting and forecasting processes
– Coordinating with external auditors during annual audits
– Performing other duties as assigned by management.

Common Job Skills - Accounts Payable Job Description

Statements of Expertise

– Knowledge of accounting principles and practices
– Ability to process high volumes of invoices accurately and efficiently
– Familiarity with accounting software, such as QuickBooks or SAP
– Attention to detail and strong organizational skills
– Ability to communicate effectively with vendors and internal stakeholders
– Proficiency in Microsoft Excel and other office software
– Understanding of financial statements and reporting processes
– Ability to reconcile accounts and resolve discrepancies
– Knowledge of tax laws and regulations related to accounts payable
– Strong problem-solving skills and ability to identify process improvement opportunities
– Familiarity with purchase order and procurement processes
– Ability to manage multiple priorities and meet deadlines
– Understanding of internal controls and compliance requirements
– Ability to work independently as well as part of a team
– Experience with month-end and year-end close processes

Accounts Payable Job Requirements

Experience Required

– Knowledge of generally accepted accounting principles (GAAP)
– Proficiency in accounting software and spreadsheets
– Familiarity with accounts payable procedures and practices
– Attention to detail and accuracy
– Strong communication and organizational skills
– Ability to work independently and as part of a team
– Bachelor’s degree in accounting, finance, or a related field (preferred, but not always required)
– 2+ years of relevant experience in accounts payable or accounting (varies depending on the company and position)
– Understanding of tax laws and regulations
– Analytical and problem-solving skills.

Accounts Payable Jobs - Who Employs?

Description of Company

An accounts payable employee is typically employed by companies that have a large volume of invoices to process and payments to make, such as retail companies, manufacturing companies, healthcare organizations, and government agencies. They may also be employed by accounting firms or outsourced accounting services providers who offer accounts payable services to their clients.

All Job Descriptions