Accounts Payable Clerk

Roles and responsibilities

An Accounts Payable Clerk is responsible for managing and processing an organization's financial obligations to suppliers, vendors, and service providers. They ensure that invoices are paid accurately and on time, maintain financial records, and help maintain good relationships with vendors by ensuring that payments are processed smoothly and in accordance with company policies.

Key Responsibilities

1. Invoice Processing

• Receive and Verify Invoices: Review incoming invoices for accuracy, ensuring that they match purchase orders or contracts. This includes checking for proper documentation and approval before payment.
• Data Entry: Enter invoice details into the accounts payable system, ensuring that all data (vendor name, amount, due date, etc.) is accurate and properly recorded.
• Invoice Discrepancy Resolution: Identify and resolve discrepancies between invoices and purchase orders, including contacting vendors and internal departments to clarify issues.
• Payment Scheduling: Schedule payments based on the due dates of invoices while adhering to company policies and cash flow requirements.

2. Vendor Management

• Vendor Communication: Communicate with vendors regarding billing inquiries, payment schedules, and resolve any issues related to outstanding payments.
• Maintain Vendor Records: Update and maintain accurate vendor information, including contact details, payment terms, and tax information, ensuring that all records are up-to-date.
• Vendor Reconciliation: Perform regular reconciliation of vendor statements to ensure that the company’s accounts payable records are accurate and up-to-date.

3. Payment Processing

• Payment Methods: Process payments via various methods such as checks, electronic funds transfers (EFT), wire transfers, or credit card payments as per company procedures.
• Ensure Timely Payments: Ensure that payments are made on time to avoid late fees and to maintain good vendor relationships.
• Manage Payment Runs: Coordinate periodic payment runs, ensuring that payments are scheduled and processed according to the company’s financial policies.

4. Record Keeping and Reconciliation

• Maintain Accurate Records: Ensure that all accounts payable transactions are documented and organized, maintaining up-to-date and accurate records of all payments.
• Bank Reconciliation: Assist in the monthly reconciliation of bank accounts and ensure that accounts payable records align with bank statements.
• Year-End Reporting: Assist with year-end closing by providing necessary documentation, reports, and information related to accounts payable.

5. Reporting and Compliance

• Accounts Payable Reports: Generate and review accounts payable reports, ensuring accuracy and timeliness. Provide regular reports to management on the status of payables.
• Compliance with Policies: Ensure that all accounts payable processes adhere to company policies, tax regulations, and financial controls.
• Tax Reporting: Assist with tax reporting requirements, including the preparation of 1099 forms (if applicable) and ensuring that vendors are properly classified.

6. General Administrative Support

• Assist with Audits: Provide assistance during internal or external audits by supplying requested accounts payable documentation and reports.
• Administrative Support: Provide general administrative support as needed, including handling correspondence related to accounts payable.

Desired candidate profile

1. Technical Skills

• Accounting Software: Proficiency in accounting software (e.g., QuickBooks, SAP, Oracle) and Microsoft Excel for managing accounts payable and generating reports.
• Data Entry: Strong attention to detail and accuracy in entering financial data into accounting systems.
• Payment Systems: Experience with different payment methods (EFT, checks, wire transfers) and understanding how to process payments in various systems.

2. Mathematical Skills

• Basic Accounting: A strong understanding of basic accounting principles, including debits, credits, and reconciliation.
• Attention to Detail: Ability to spot discrepancies, errors, and issues with financial data or documentation and correct them.

3. Communication Skills

• Vendor Interaction: Strong communication skills for interacting with vendors and internal teams to resolve payment-related issues.
• Collaboration: Ability to work well with other departments, such as procurement, finance, and operations, to resolve payment discrepancies and improve workflows.

4. Organizational Skills

• Time Management: Ability to manage multiple tasks efficiently, such as handling numerous invoices, processing payments, and maintaining accurate records.
• File Management: Good organizational skills to maintain an orderly filing system for invoices, payment records, and vendor information.

5. Problem-Solving

• Discrepancy Resolution: Ability to quickly identify and resolve discrepancies or issues with invoices, payment schedules, and vendor communications.
• Issue Investigation: Investigate any issues related to delayed or incorrect payments and work with vendors or internal teams to resolve them.

Experience and Qualifications

1. Experience

• Relevant Experience: Typically, 1-3 years of experience in accounts payable or in a similar administrative/financial role.
• Familiarity with Accounts Payable Systems: Experience working with accounts payable software and payment systems.
• Knowledge of Financial Practices: Basic understanding of accounting practices and principles, such as understanding of journal entries and financial reporting.

2. Education

• High School Diploma or Equivalent: A basic education in finance or accounting is preferred.
• Bachelor’s Degree: Some employers may prefer candidates with a degree in accounting, finance, business administration, or a related field.
• Certifications: While not always required, certifications like Certified Accounts Payable Professional (CAPP) or Accounts Payable Specialist Certification may enhance a candidate’s qualifications.