Accounts Payable Accountant Job Description

Authored By: Bhaskar
Bhaskar Singh is an experienced legal researcher known...

An Accounts Payable Accountant is a key player in the financial accounting of a business. As businesses grow, they face more complex financial responsibilities, such as managing expenses, processing payments, and maintaining accurate financial records.

These tasks require the expertise of an experienced Accounts Payable Accountant, who ensures that the business pays its bills on time and records them properly. In this blog, we’ll explore the Accounts Payable Accountant job description and how it fits into the broader picture of financial accounting.

We’ll cover the skills and qualifications required for the job, the day-to-day responsibilities of an Accounts Payable Accountant, and how this role contributes to the overall financial health of a company. Whether you’re considering a career in accounting or looking to hire an Accounts Payable Accountant for your business, this blog will provide valuable insights into the world of finance. So, let’s dive in and learn more about the accounts payable post!

Accounts Payable Accountant Job Description Sample 1

Crafting an effective job description is vital to attract the right candidates for an Accounts Payable Accountant role. To maximize applications, you can use the following template as a starting point and customize it with your exact needs in mind.

Job Title: Accounts Payable Accountant

Reports to: Accounting Manager

Job Summary: The Accounts Payable Accountant is responsible for managing the accounts payable process, ensuring timely and accurate processing of invoices, managing vendor relationships, and maintaining accurate financial records. The ideal candidate will possess strong attention to detail, excellent communication and interpersonal skills, and a solid understanding of accounting and financial principles.

Key Responsibilities: 

• Process and code invoices, ensuring accuracy and timely payment 
• Reconcile vendor statements and resolve any discrepancies 
• Review and process employee expense reports 
• Maintain accurate and up-to-date records of all accounts payable transactions 
• Assist with month-end close processes and provide support for audits 
• Work closely with internal departments and external vendors to resolve any payment issues or discrepancies 
• Assist with other accounting duties as assigned by the Accounting Manager

Qualifications:

•  Bachelor’s degree in accounting, finance, or a related field
•  2+ years of experience in accounts payable or a related accounting role 
• Proficiency with accounting software, such as QuickBooks or Sage 
• Strong knowledge of accounts payable, accounts receivable, and general ledger 
• Excellent attention to detail and accuracy 
• Strong communication and interpersonal skills 
• Ability to work independently and as part of a team 
• Knowledge of GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards) preferred 
• Experience with tax laws and regulations preferred

Salary Range: The salary range for this position is $45,000 – $60,000 per year, depending on experience and qualifications. This position is eligible for company benefits, including health insurance, retirement plans, and paid time off.

Related Blog: Accounting Virtual Assistant Job Description Template

Accounts Payable Accountant Job Description Sample 2

Job Title: Accounts Payable Specialist

Job Overview: As an integral part of our finance team, the Accounts Payable Specialist plays a crucial role in ensuring efficient financial operations within our organisation. This position involves providing comprehensive financial, administrative, and clerical support, with a primary focus on managing payments, controlling expenses, and maintaining accurate records.

Responsibilities

• Payment Tracking and Expenditure Management: Maintain meticulous records of all financial transactions, including payroll, purchase orders, invoices, and statements.
• Reconciliation and Verification: Ensure accuracy in processed work by meticulously verifying entries and cross-referencing system reports with balances.
• Record-Keeping: Maintain and update historical records for future reference and auditing purposes.
• Employee Payment Processing: Verify and process expense reports, and prepare and distribute payroll checks to employees.
• Vendor Payment Coordination: Schedule and oversee payments to vendors, ensuring timely and accurate disbursement while addressing outstanding credit issues.
• Vendor Relations: Responsively handle vendor inquiries regarding financial matters in a professional and timely manner.
• Financial Reporting: Prepare detailed analyses of accounts and generate monthly reports for review.
• Process Improvement: Continuously assess and enhance payment processes to streamline efficiency and accuracy.

Qualifications

• Educational Background: While a degree is not mandatory, a foundational understanding of basic bookkeeping and accounting principles is essential. A degree in Finance, Economics, Business Studies, or Accounting is advantageous.
• Skills: Strong attention to detail and proficient data entry skills are crucial. Excellent interpersonal skills for daily interaction with both internal stakeholders and external vendors.

Additional Requirements

• Familiarity with accounting software (e.g., QuickBooks, Xero, etc.) is preferred.
• Proficiency in Microsoft Office suite, particularly Excel for data analysis and reporting.

Preferred Experience

• Previous experience in an Accounts Payable or similar financial role is desirable but not mandatory for entry-level positions.

This position offers an opportunity to become an integral part of a dynamic finance team within a small business, contributing directly to the financial health and efficiency of the organisation.

Accounts Payable Accountant Job Description Sample 3

We are looking for an Accounts Payable Accountant to join our finance team and manage the payment of invoices and expenses for our company. You will be responsible for ensuring timely and accurate processing of payments, maintaining vendor relationships, and reconciling accounts.

To be successful in this role, you should have a degree in accounting or finance, and at least two years of experience in accounts payable or a similar role. You should also have excellent communication, organizational, and analytical skills, and be proficient in accounting software and Microsoft Excel.

This is a full-time position based in our office in New York, NY. The salary range for this role is $50,000 – $60,000 per year, depending on experience and qualifications. We offer a competitive benefits package, including health insurance, dental insurance, vision insurance, 401(k) plan with employer match, paid time off, and more.

Responsibilities:

• Review and verify invoices and expense reports for accuracy and completeness
• Match invoices to purchase orders and contracts, and obtain approvals for payment
• Enter invoices and payments into the accounting system, and ensure proper coding and allocation
• Prepare and process payments by check, wire transfer, or credit card
• Monitor accounts payable aging and follow up on overdue invoices
• Reconcile vendor statements and resolve any discrepancies or issues
• Maintain vendor files and records, and update vendor information as needed
• Prepare monthly accruals and journal entries for accounts payable transactions
• Assist with month-end closing and reporting, and provide supporting documents for audits
• Comply with company policies and procedures, and ensure adherence to accounting standards and regulations, such as GAAP, IRS, etc.

Requirements:

• Bachelor’s degree in accounting, finance, or a related field
• Two years of experience in accounts payable or a similar role
• Knowledge of accounting principles and practices, and accounts payable processes and procedures
• Proficiency in accounting software, such as QuickBooks, Sage, or Xero
• Proficiency in Microsoft Excel, and ability to work with spreadsheets and formulas
• Attention to detail, accuracy, and timeliness
• Excellent communication, interpersonal, and negotiation skills
• Ability to work independently and as part of a team
• Ability to prioritize tasks and meet deadlines
• CPA, CMA, or other relevant certification or license is a plus

Skills Required for a Successful Career as an Accounts Payable Accountant

To have a successful career as an Accounts Payable Accountant, certain skills are necessary to perform job duties excellently. Below are some key skills required for this role:

Accounting Knowledge: To work in the accounting field, it’s essential to have a solid understanding of accounting principles, including accounts payable, accounts receivable, and general ledger. The ability to read and interpret financial statements is also critical to ensure the accuracy of financial records.

Attention to Detail: Accounts Payable Accountants are responsible for managing and processing large volumes of financial transactions. Therefore, strong attention to detail is essential to ensure that all transactions are processed accurately and on time.

Communication Skills: Accounts Payable Accountants work with various departments, vendors, and stakeholders. Therefore, effective communication and interpersonal skills are necessary to maintain good relationships and resolve any issues efficiently.

Problem-Solving Skills: Accounts Payable Accountants must be able to identify and resolve any issues that arise during the accounts payable process, such as discrepancies or missing information. The ability to analyze financial data and use critical thinking to resolve problems is a vital skill for this role.

Accounting Software Knowledge: Most businesses use accounting software to manage their financial transactions, and Accounts Payable Accountants must be familiar with various software programs, such as QuickBooks, Sage, or Oracle. Knowledge of these software programs is essential to ensure accurate and efficient processing of financial transactions.

Time Management Skills: Accounts Payable Accountants must be able to manage their time effectively to meet deadlines and process transactions efficiently. The ability to prioritize tasks and manage competing deadlines is essential to ensure that all invoices and payments are processed on time.

Accounts Payable Specialist Job Description Sample 4

Are you a curious AP specialist, who has a zeal to bring a change to our business and make a positive impact with your work? We offer you an exciting opportunity to lead our dynamic accounts payable team.

Primarily, you will be responsible for

• Distributing AP job roles
• Managing costs,
• Making financial plans,
• Preparing data sheets,
• Maintaining records, etc.

You will act as a mediator between a company and its external retailers. 

We are searching for some qualified talents, who can 

• Deliver projects timely,
• Drive quality results, and
• Manage a large team.

Responsibilities of an Accounts Payable Specialist

Accounts payable specialists will be responsible for

1. Processing bills and ensuring payments are timely.
2. Handling accounts and resolving payment disputes.
3. Maintaining retailer records and communications.
4. Assisting with financial procedures and budgeting procedures.
5. Adhering to accounting principles and company standards.
6. Managing general-ledger data entry.
7. Producing purchase orders when required.
8. Obtaining and printing signatures on all cheques.
9. Assist senior financial officers.
10. Aligning payable reports every month.
11. Paying sales tax on appropriate bills.
12. Keeping a record of credits owed to the company.

Eligibility Criterion

The candidate should have the following credentials to get qualified the AP specialist job role: 

• Diploma in Accounting, Finance, or associated discipline
• More than 2 years of experience in accounts payable
• Expert in working with Microsoft software, such as Word and Excel
• Nice analytical skills
• Good management skills
• Excellent communication skills 
• Good time management skills

Important Questions you should ask before hiring an accounts payable specialist for your business

Question 1. What are your top skills and areas of proficiency?

This will help you decide if the accounts payable specialist has the essential skills and proficiency to meet your specific requirements. 

Question 2. What will be your working hours? Also, share your preference. 

It is necessary to specify the availability of an accounts payable specialist to ensure smooth coordination of schedules. It also confirms that they are available whenever you need their assistance.

Question 3. What are your costs and payment conditions?

Analyzing the costs of the accounts payable specialist will help you to make a proper budget plan and be clear about how their services will be provided.

Question 4. Do you have prior experience in maintaining financial records and data?

It is a must to know the experience and qualifications of the accounts payable specialist to ensure the smooth functioning of your business.

Question 6. What are your positive points, and how do you plan to work on your weaknesses?

Knowing the strengths and weaknesses of the accounts payable specialist will help you better understand their skills and talent in managing a large team.

Question 7. What are your future aspirations?

Understanding the career goals of the accounts payable specialist will help you examine whether their objectives meet your business expectations and whether they are looking for a long-term or short-term engagement with you. 

Question 8. Please, if you can provide any references.

Taking references from the AP specialist allows you to gain independent evaluations of their work standards, offering valuable insights into their professional knowledge.

These questions will help you gain important information to make a quality decision while hiring an AP specialist.

What Salary Can You Expect as an Accounts Payable Accountant?

The job outlook for Accounts Payable Accountants is promising as businesses continue to grow and require financial experts to manage their accounts payable processes. According to the U.S. Bureau of Labor Statistics, the employment of accountants and auditors is projected to grow 6% from 2023 to 2025, which is faster than the average for all occupations.

The salary range for Accounts Payable Accountants varies based on experience, qualifications, and location. According to PayScale, the average salary for an Accounts Payable Accountant in the United States is $50,789 per year, with salaries ranging from $36,000 to $66,000 per year. However, a Certified Public Accountant (CPA) can earn a significantly higher salary. 

India’s outsourcing sector offers skilled and cost-effective services, particularly for accounting and finance. CPA firms can benefit from outsourcing to Indian entities, saving on costs and avoiding the need for infrastructure investments. The remarkable cost savings and level of service offered is a wonder of burstiness and perplexity.

If you are looking to outsource Finance And Accounting services to India, Invedus has got you covered. Contact Us Today!

In addition to salary, Accounts Payable Accountants can also enjoy a range of benefits, such as health insurance, retirement plans, and paid time off. Some companies also offer professional development and career advancement opportunities, such as continuing education programs and promotions to higher-level accounting roles.