Gain insight into the essential qualifications, important duties, key responsibilities, and vital skills that form a well-rounded Accounts Payable Specialist job description.
What does a Accounts Payable Specialist do?
An accounts payable specialist is responsible for managing the expenses of companies, businesses, and organizations. Their main tasks include analyzing invoices and expense reports, resolving accounting discrepancies, and charging expenses to specific accounts.
Job Description
We are seeking a detail-oriented individual to join our team as an accounts payable specialist. In this role, you will be responsible for controlling and monitoring our expenses. Your main responsibilities will include processing payments, verifying invoices, and performing account reconciliations.
To be successful in this role, you should have a strong understanding of accounting best practices and previous experience in a similar position. A successful accounts payable specialist will have excellent accounting skills that result in effective expense control processes.
Job Duties and Responsibilities
- Collaborate with internal departments to gather and analyze financial data
- Receive, process, verify, and reconcile invoices
- Compare system reports to balances and confirm entries
- Charge expenses to specific accounts and cost centers, and manage petty cash
- Verify vendor accounts, make payments, and resolve discrepancies with purchase orders, invoices, or payments
- Issue purchase order amendments and stop payments
- Monitor payroll expenses, including salary advances and overtime payments
- Reconcile account transactions with the general ledger
- Maintain records and prepare financial reports
- Stay up-to-date on regulatory requirements and accounting best practices
Requirements and Qualifications
- Bachelor's or associate's degree in accounting, finance, or a related field
- At least 2 years of experience as an accounts payable specialist or in a similar role
- Advanced proficiency in accounting and business management software, such as NetSuite and Zoho Books
- Thorough understanding of accounts payable principles, accounting standards, and industry regulations
- Extensive experience with account reconciliation
- Strong attention to detail
- Excellent time management and organizational skills
- Effective collaboration and communication abilities
Accounts Payable Specialist Salary
The earning potential of a Accounts Payable Specialist can vary significantly based on factors such as geographic location, industry, professional experience, educational background, and the specific employer. On average, the annual salary for an Accounts Payable Specialist in the United States is approximately $51676.
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