Accounts payable Job Profile and Description
Accounts payable professional, as the name suggests works on the accounts that are to be paid by the organization. There are many accounts which are due for clearance and payments, and these professionals work on all the aspects of such accounts. Hence, these professionals are responsible for maintaining and processing the accounting and clerical tasks associated with payable accounts & transactions.
Accounts payable professionals are responsible for taking complete care of such accounts and releasing timely payments to concerned departments or companies in order to maintain good working relations with them.
Accounts payable Duties and Responsibilities
The job responsibilities performed by these professionals are as follows:
- Reviewing the invoices and check requests related with payment of payable accounts.
- Sorting and matching the check requests with the prepared records, and processing only legitimate requests.
- Setting up invoices for payment of due accounts and maintaining records of payments processed & pending.
- Preparing monthly, quarterly and annual reports of payable accounts along with details about processed payments.
- Responsible for maintaining accounts payable reports and rectifying any discrepancies in the reports.
- Keeping track of due date schedule for payments and making payments through appropriate payment methods like through cash, cheque, wire transfer or as requested by clients.
- Following up with clients on issues related with accounts payable and maintaining good relations with them.
- Coordinating with clients pertaining to accounts payable issues and sorting out the small issues
Accounts payable Skills and Specifications
To become a professional in accounts payable portfolio you must possess following skills and specifications:
- Good knowledge of accounting principles and procedures.
- Knowledge of computers, office applications and accounting software.
- Good verbal & written communication & interpersonal skills.
- These candidates must be good in managing, organizing and in prioritizing of tasks.
- Must also possess problem solving approach.
Accounts payable Education and Qualification
An accounts payable professional must possess following academic qualifications:
- Bachelors or master’s degree in accounting, mathematics, finance, commerce or any other closely related streams.
- Credentials pertaining to accounting certifications.
- Short term training certificate level courses in accounting, accounting procedures, accounting computer software or other related subjects.
- Knowledge of accounting procedures and knowledge of accounting laws & regulations
Accounts payable Salary
An accounts receivable professional earns up to $30,000 – $60,000 on yearly basis. The salary depends on various factors like the academic qualifications of the candidate, experience in the field of accounting, professional traits in the candidate and level of sincerity & dedication.