Accounts Payable Specialist

The Accounts Payable Specialist plays a crucial role in ensuring accurate and timely processing of financial transactions within the organization. This position is responsible for managing the company’s accounts payable functions, including invoice processing, payment disbursement, vendor communication, and maintaining accurate financial records.

Key Responsibilities:

Invoice Processing:

Receive, review, and process incoming invoices for accuracy and completeness.
Match invoices with purchase orders and receipts, ensuring proper authorization.
Resolve discrepancies with vendors and internal departments.
Payment Processing:

Prepare and process payments through various methods, such as checks, electronic transfers, and ACH transactions.
Schedule and execute payment runs in accordance with established payment terms.
Reconcile payments and maintain accurate payment records.
Vendor Management:

Communicate with vendors regarding invoice inquiries, discrepancies, and payment-related issues.
Establish and maintain positive relationships with vendors to ensure smooth transactions.
Verify and update vendor information regularly.
Expense Reporting:

Review and process employee expense reports, ensuring compliance with company policies.
Verify receipts and reconcile expenses against approved budgets.
Record Keeping and Documentation:
Maintain accurate and up-to-date accounts payable records and documentation.
Ensure proper filing and organization of invoices, receipts, and payment records.
Assist in the preparation of financial reports related to accounts payable.
Month-end Closing:

Assist in the month-end closing process by reconciling accounts payable ledgers.
Provide necessary reports and documentation to support financial reporting.
Compliance:
Ensure compliance with company policies, accounting principles, and relevant regulations.
Stay informed about changes in accounting standards and regulations affecting accounts payable.
Process Improvement:

Identify opportunities for process improvements in accounts payable workflows.
Collaborate with cross-functional teams to implement efficiency-enhancing measures.
Qualifications:

Bachelor’s degree in Accounting, Finance, or related field.
Proven experience in accounts payable or a similar financial role.
Strong understanding of accounting principles and practices.
Proficiency in accounting software and Microsoft Excel.
Excellent attention to detail and organizational skills.
Effective communication and interpersonal skills.
Ability to work independently and collaboratively in a team environment.
Knowledge of relevant regulations and compliance requirements.