Accounts Payable Specialist

The Accounts Payable Specialist is instrumental in maintaining the financial integrity of the organization by ensuring accurate and timely processing of payments, fostering positive vendor relationships, and contributing to the overall efficiency of the finance department.

Job Overview:

The Accounts Payable Specialist plays a crucial role in managing the financial transactions related to the payment of invoices and expenses within an organization. This position involves a detailed understanding of accounts payable processes, attention to accuracy, and collaboration with internal departments and external vendors.

Key Responsibilities:

1. Invoice Processing:
   • Receive and review invoices for accuracy, completeness, and proper authorization.
   • Code and enter invoices into the accounting system for payment processing.
   • Verify that invoices match purchase orders and receiving documents.
2. Payment Processing:
   • Prepare and process payments using various methods such as checks, electronic transfers, and ACH.
   • Manage payment schedules to ensure timely payments while taking advantage of available discounts.
   • Address and resolve issues related to payment discrepancies or inquiries.
3. Vendor Relations:
   • Communicate with vendors to obtain missing documentation, clarify invoice details, and resolve payment issues.
   • Cultivate positive relationships with vendors to facilitate smooth transactions.
4. Expense Reports:
   • Review and process employee expense reports, ensuring compliance with company policies.
   • Verify receipts, coding, and approval of expenses before reimbursement.
5. Account Reconciliation:
   • Reconcile accounts payable transactions and resolve discrepancies with the general ledger.
   • Assist in month-end closing processes related to accounts payable.
6. Compliance and Documentation:
   • Ensure adherence to company policies, industry regulations, and accounting standards.
   • Maintain organized and accurate records of invoices, payments, and related documentation.
7. Process Improvement:
   • Identify opportunities for process improvement in accounts payable procedures.
   • Collaborate with team members and other departments to enhance efficiency and accuracy.
8. Reporting:
   • Generate reports on accounts payable activities, outstanding payments, and relevant financial metrics.
   • Provide regular updates to management on the status of payables and potential issues.

Qualifications:

• Bachelor’s degree in accounting, finance, or a related field is preferred.
• Proven experience in accounts payable or a similar financial role.
• Proficiency in using Microsoft Office applications, with heavy usage of Excel.
• Proficiency in using accounting software, especially with NetSuite.
• Strong analytical and problem-solving skills.
• Detail-oriented with a high level of accuracy in data entry.
• Excellent communication and interpersonal skills.
• Ability to work independently and collaboratively in a fast-paced environment.
• Knowledge of relevant accounting principles and regulations.