Accounts Payable I

Core Responsibilities

• Invoice Processing and Verification: Review and verify the accuracy and completeness of vendor invoices and supporting documentation. Verify appropriate authorization and coding for all invoices. Match invoices with purchase orders and receiving documents. Enter invoices into the accounting system for payment processing.
• Payment Processing: Schedule and process payments, including checks, electronic transfers, and ACH. Monitor payment schedules to ensure timely disbursements and avoid late fees. Address and resolve payment discrepancies and issues with vendors.

Vendor Management

• Maintain accurate vendor profiles, handle inquiries, resolve disputes, and ensure contracts and tax forms (e.g., IRS W-9) are on file.
• Strive to build strong vendor relationships to streamline transactions and enhance organizational credibility.

Account Reconciliation

• Reconcile vendor statements to ensure accounts are accurate and up to date. Investigate and resolve outstanding balances or discrepancies. Assist with month-end closing activities, including reconciliations and accruals. Maintain detailed records of transactions and reconciliations.

Expense and Reimbursement Management

• Review and approve employee expense reports to ensure compliance with company policies and prevent misuse of funds. Track departmental budgets and manage cost control.

Financial Reporting and Reconciliation

• Reconcile accounts payable reports, track outstanding payables, and maintain accurate records for auditing, tax compliance, and financial planning. Generate summaries and cash flow reports to support management decisions.

Compliance and Documentation

• Ensure all financial transactions comply with internal policies and external regulations. Maintain organized records of invoices, payments, and other accounts payable documentation. Assist with audit preparation by providing required documentation and explanations.

Process Improvement

• Identify and recommend improvements to accounts payable processes. Collaborate with the finance team to streamline workflows and enhance efficiency. Stay updated on best practices, changes in accounting regulations, and technological advancements related to accounts payable processes.

Qualifications

• High school diploma or equivalent. Associate or bachelor’s degree in accounting or related field preferred.
• Required: Certified Accounts Payable Associate (CAPA).
• Knowledge: Proficiency in accounting software and Microsoft Excel. Knowledge of accounting principles and practices. Familiarity with regulatory requirements related to accounts payable processes.
• Experience: Proven experience as an accounts payable clerk or similar role. Experience with process improvement initiatives is a plus. Familiarity with ERP systems and accounting software is preferred.

Skills and Abilities

• Excellent communication and interpersonal skills for effective interaction with customers and internal stakeholders.
• Strong attention to detail and accuracy.
• Excellent organizational and time management skills.
• Ability to prioritize tasks and meet deadlines in a fast-paced environment.
• Effective written and verbal communication skills.
• Ability to work independently as well as collaboratively within a team.

Summary

We need an accounts payable professional to ensure financial accuracy, timely payments, and strong vendor relationships, contributing directly to an organization’s financial stability and operational efficiency. Their work spans invoice management, payment processing, expense oversight, reporting, and compliance, making them a vital part of the finance function.