An accounts payable specialist job description requires an individual who enjoys staying organized and making lists; he or she should also be strongly detail-oriented as well as number-literate. For this position, a potential applicant must be good at keeping records and be a self-starter who is able toadhere to deadlines and follow orders.
An accounts payable specialist provides both administrative and financial support in a corporate environment by processing accounts payable transactions and monitoring payroll functions in order to make sure that the office operates smoothly, accurately, and effectively.
Essential Duties and Responsibilities of an Accounts Payable Specialist
- Maintains and monitors the listing of accounts payable and receivable.
- Develops and maintains a filing system for financial information, files, and records.
- Ensures the ready availability of financial documentation.
- Collects and verify invoices, bills, and checks by performing pre-audits to ensure both accuracy and appropriateness prior to payment.
- Corresponds with vendors, maintains updated vendor profiles, and processes vendor checks.
- Tracks expenses, processes expense reports, and prepares analyses of accounts.
- Monitors account balances and related financial activity.
- Data enters invoices and bills to ensure payments
- Issues checks for accounts payable.
- Calculates salaries and distributes paychecks.
- Produces monthly financial report.
Required Knowledge, Skills, and Abilities
- Displays a proficiency in management and data entry.
- Possesses knowledge of general accounting and bookkeeping principles, as well as of any relevant accounting software.
- Is knowledgeable about accounts payable, accounts receivable, and the process of maintaining general ledgers.
- Demonstrates strong communication, analytical, and problem-solving skills.
- Exhibits a strong regard for organizing and prioritizing, as well as an ability to meet deadlines.
- Displays a respect for confidentiality.
- Exhibits strong team building and interpersonal skills.
Education and Experience
Accounts payable specialists have at least a high school diploma or an equivalent degree. Those in this position frequently obtain an Associate’s degree in accounting, finance, or a related discipline. While in school, future specialists may take a clerical job on campus or volunteer to be the treasurer for an extracurricular organizational board. In order to gain experience in accounting principles, entry level positions at large firms are widely available and offer the opportunity for monitored growth in a fast-paced setting.
The accounts payable specialist typically spends the majority of the work day behind a desk filing papers, making copies, reviewing reports, and checking through invoices. In this position, a person spends forty hours a week in the office and most of these hours are spend behind a computer. He or she shares an office with other specialists or has a desk in a central, open location. Either way, the accounts payable specialist gets to interact with many of the other employees throughout the day. The accounts payable specialist will also take part in financial and budgetary meetings, taking notes and delivering financial monthly reports.
The average salary for an accounts payable specialist ranges from about $27,000 to over $40,000 with consideration given to the level of education and experience of the employee as well as the given pay scale determined by a specific employer. They are salaried employees, though some are paid hourly.