Accounts payable accountant job description

Accounts Payable Accountant position can be defined as a professional working in the field of accounts payable and being responsible for performing several tasks.

An accounts payable (AP) accountant is in charge of paying a firm’s expenses and outward cash flows. Some key responsibilities include:

Processing Invoices
Another responsibility that is normally assigned to an AP accountant is to prepare and issue payments to the vendors as well as the suppliers. It includes checking invoices and verifying the supporting documentation, assigning expenses to the correct general ledger accounts, obtaining approval if the costs are higher, calculating any discounts or interest, and making payments through cheque or ACH, wire transfer, or credit card.

Maintaining Vendor Files
In addition to vendor information, AP accountants need to keep records of data such as payment terms, remit to addresses, tax identification numbers, and other contacts. This assists in addressing issues with payments and supplier relations efficiently. It is also important to update the history of the transactions that have been carried out with the vendors such as old invoices and payment records.

Analyzing AP Aging Reports
By reviewing the accounts payable aging reports, AP accountants can check on outstanding payments and initial signs of cash flow problems. These reports show unpaid amounts grouped by the number of days past due so that amounts that can be followed up on are grouped.

Cheque clearing and the Closing of AP to GL
This means that, at the end of the month, the AP accountant needs to ensure that the balance recorded in the AP sub-ledger is equal to the total amount that the organization owes the vendors according to the general ledger. If there are any variations, then differences have to be rectified and changes can also be made in any of the two systems. This prevents over-statementing of the payables which would not be accurate when it is used to prepare financial statements.

Processing Employee Expenses
In some companies, AP accountants work together with employees to pay for business-related expenses such as travel, meals, or any other expense that an employee has to incur and then get reimbursed by the company. The way and manner expenses are entered in the reports is very important.

The tasks involve attention to detail, organization skills, ability to plan and work within a strict schedule, especially in the month-end closing process. Correctness, confidentiality, and truthfulness are the other ethical standards that AP accountants have to meet especially while handling sensitive vendor and payment details. Any related education entails a degree in accounting or finance or any related business field and working experience with the major accounting software packages. Continual training capacity on regulatory compliance matters also comes in handy.