Accounts payable job description
An accounts payable associate ensures that accounting and clerical duties, maintenance and processing of accounts and processing of accounts payable transactions are done efficiently.
An accounts payable associate has the responsibility of providing clerical, administrative and financial support by ensuring that payment is made and expenses are controlled by receiving payment. Expenses are controlled by;
Processing and reconciling invoices according to established policies and procedures in an efficient and timely manner.
Essential duties and responsibilities of accounts payable
Some of the responsibilities of an accounts payable include the following;
Assemble, review, match and verify invoices and check requests. After matching the invoices the accounts payable is supposed to enter them into a computer. He or she should flag and clarify questionable invoice items or price.
Reconcile the work by verifying entries and comparing system reports to balances. He or she also has the obligation of researching and resolving invoice discrepancies and issues.
Pay vendors by monitoring discounts, verifying federal identification numbers, scheduling and preparing checks, resolving purchase orders or payment of discrepancies and documentation, ensuring credit is received for outstanding memos, issuing stop payments or purchase order amendments. It is also important to maintain vendor files.
Pay employees by receiving and verifying expense reports for advances and preparing checks., an accounts payable associate should monitor all payments made and ensure they are up to date.
Maintaining accounting ledgers by verifying and posting account transactions. It is also the responsibility of accounts payable associate to verify vendor accounts by reconciling monthly statements, enter new or update vendor names and data.
Report sales taxes by calculating requirements on paid invoices; he or she should also protect the organizationís value by keeping information confidential.
Provide accurate and effective document preparation and records management in accordance with records retention policies and procedures.
Qualifications for accounts payable job description
Some of these qualifications include;
A high school diploma or a GED. A degree or equivalent from a college or technical institution is required to prove your literacy.
Work experience of 1-3 years on accounts payable, the candidate should also have broad knowledge of general accounting principles and regulatory standards and compliance requirements plus general math skills.
Excellent data entry skills this includes proficiency in MS Office including the ability to operate computerized accounting and spreadsheet programs. High degree of accuracy, attention to detail and confidentiality is also an added advantage.
Excellent analytical, problem-solving and decision-making skills, effective verbal, listening and written communication skills is important.
Self-discipline is also an important virtue. An accounts payable associate should demonstrate organizational, stress and time management skills. He or she should also demonstrate a sense of urgency.
Physical demands and abilities
A person who aspires to get a job on accounts payable should be physically capable as this job demands for long working hours sitting down, long hours of intense concentration and reviewing of financial information.
It demands a person who can use fingers to handle, control and feel objects such as computers, and regular use of speech.