Job Description

The scope of an accounts payable (AP) job generally involves managing and processing payments that a company owes to its suppliers and vendors. Here's a detailed breakdown of typical responsibilities: 1. Invoice Processing: • Receiving and Reviewing: Collecting invoices from vendors and ensuring they match purchase orders or contracts. • Data Entry: Entering invoice details into the accounting system. 2. Verification: • Verifying invoice accuracy, including checking for discrepancies, proper authorization, and correct calculations. 3. Payment Processing: • Scheduling Payments: Determining the appropriate timing for payments based on due dates and available cash flow. • Payment Methods: Executing payments through various methods such as checks, electronic transfers, or ACH payments. • Reconciling Payments: Ensuring that payments are recorded accurately and reconciling with bank statements or vendor accounts. 4. Vendor Management: • Maintaining Records: Keeping up-to-date records of vendor details and payment history. • Handling Inquiries: Addressing vendor queries related to payments and resolving any issues that arise. 5. Expense Reporting: • Expense Reimbursements: Processing employee expense reports and ensuring they comply with company policies. • Tracking Expenses: Monitoring and categorizing company expenses for budget management and reporting purposes. 6. Reconciliation and Reporting: • Account Reconciliation: Regularly reconciling accounts payable ledger with bank statements and general ledger. • Reporting: Generating reports on accounts payable activity, outstanding invoices, and cash flow projections. 7. Compliance and Controls: • Adherence to Policies: Ensuring compliance with company policies and procedures, as well as relevant accounting standards and regulations. 8. Internal Controls: • Implementing and maintaining internal controls to prevent fraud and errors. 9. Collaboration: • Interdepartmental Coordination: Working with other departments (like procurement and finance) to ensure smooth processing of transactions and resolve issues. 10. External Communication: • Liaising with vendors and financial institutions as needed. 11. System Management: Software Utilization: • Using accounting software and tools to manage accounts payable processes efficiently. • System Updates: Keeping the accounting system updated and troubleshooting any issues that arise. Requirement: A diploma in a related field is required.