What Does an Accounts Payable Specialist Do?
Accounts payable specialists perform essential job functions to ensure vendors get paid in a timely manner for services and products rendered. They also review and process invoices, audit credit card bills, address vendor and supplier inquiries, reconcile vendor statements, process and maintain tax statements, and process and distribute checks. Accounts payable specialists must be organized, have excellent time management skills, and be able to effectively multitask.
An accounts payable specialist may be responsible for the company’s financial information, records, and financial documentation. They also maintain accuracy in all payments, track expenses, and process expense reports. This role requires technical knowledge of ledger and accounting procedures, as well as good communication skills. A typical day’s work might include reviewing vendor invoices for accuracy, verifying tax ID numbers, calculating freight charges, discounts, and taxes due, as well as identifying and correcting payment errors.
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National Average Salary
Accounts payable specialist salaries vary by experience, industry, organization size, and geography. Click below to explore salaries by local market.
The average national salary for an Accounts Payable Specialist is:
$55,360
Accounts Payable Specialist Job Descriptions
The key to attracting the ideal accounts payable specialist often lies in the job description. To make this task easier, we have curated a selection of examples that can be used as templates, ensuring you set the right foundation for your talent search.
Example 1
The accounts payable specialist is responsible for the accurate and timely processing of all invoices received by the company. They will also be responsible for maintaining vendor files and preparing weekly and monthly reports. The ideal candidate for this position is a detail-oriented individual with strong organizational skills and a good working knowledge of Microsoft Excel. You may be reviewing supplier invoices for accuracy and completeness, entering invoices into the accounting system, processing payments, maintaining vendor files, and preparing weekly and monthly reports.
Typical duties and responsibilities
- Maintain petty cash
- Log all outgoing disbursements
- Monitor all vendor payment agreements
- Be responsible for paying all sales taxes on relevant invoices
- Verify discrepancies and resolve clients’ billing issues
- Reconcile payable reports each month to confirm that all amounts paid were accurate
- Keep track of all credits owed to the company and ensure they are appropriately applied to vendor payments
Education and experience
- This position requires a bachelor’s degree in accounting, finance, or a related discipline
Required skills and qualifications
- Excellent attention to detail
- Strong organizational ability
- Proficient in Microsoft Office Suite
- Effective corporate communication skills
- Ability to consistently meet deadlines
- Excellent data entry skills
Preferred qualifications
- Proven experience in accounts payable
- Excellent attention to detail
- Strong organizational skills
- Good communication skills
- Knowledge of accounting software packages
Example 2
The Accounts Payable Specialist compiles and processes accounts payable and prepares checks and electronic payments. Someone who will be successful in this position will be a self-starter who is motivated to learn. The Accounts Payable Specialist should have strong Excel skills.
Essential functions
- Full-cycle accounts payable with 3-way matching
- Preparation of check runs and electronic payments
- Maintenance of all accounts payable reports and files
- Review employee expense reports to ensure adequate receipt documentation and to ensure that charges are within company policy
- Download ERP reports into Excel as needed for analysis or additional information
- Assist in month-end closing
- Daily reconciliation of payments
- Processing of intercompany invoices
- General Ledger (GL) accruals for outstanding internal expenses
- Quickly process referral fees and marketing allowance payouts
- Maintain good standing with all vendors
- Creates and maintains vendor files with proper documentation and backup, including vendor records
- Updates the ERP system with vendor updates and additional vendor management as necessary
- Additional projects related to accounting close, financial metrics, and internal controls, as assigned
Competencies
- Initiative self-starter
- Problem Solving/Analysis
- Organizational Skills
- Communication Proficiency
- Ability to retain large amounts of information
Education and experience required
- Degree in accounting or equivalent experience
- 3+ years of AP experience
Skills required
- Positive attitude and approach
- Microsoft Applications (MS Office, Excel, PowerPoint, and Outlook)
- Oracle NetSuite ERP experience preferred but not required
- Concur experience is preferred but not required
- Excellent organizational skills
Example 3
The Accounts Payable Specialist will be working closely with the AP Manager and 4 other clerks on processing a large volume of invoices.
Responsibilities
- Process a high volume of invoices daily
- Review purchase orders and receipts
- Transition on a rotating basis on those systems and code invoices correctly
- Obtain approval and resolve flagged items
- Assist in other special projects as needed
Qualifications
- Detail-oriented and professional
- Team player
- SAP experience is a huge plus
- Basic Excel, must be able to modify formulas
Example 4
Accounts payable specialists manage the expenses of companies, businesses, and organizations. They analyze invoices and expense reports, resolve accounting discrepancies, and charge expenses to accounts.
Responsibilities
- Obtain primary financial data for accounting records
- Compute and record numerical data
- Check the accuracy of business transactions
- Perform data entry and administrative duties
Qualifications
- Previous experience in accounting, finance, or other related fields
- Previous accounts payable experience
- Fundamental knowledge of GAAP
- Ability to prioritize and multitask
- Strong organizational skills
- Deadline and detail-oriented
Candidate Certification to Look For
Certified Payroll Professional (CPP)
The CPP designation is designed for those who handle payroll functions or payroll management. To earn the CPP designation, candidates must pass an exam covering seven main knowledge areas. They will answer questions about core concepts like taxes and benefits. Candidates will also be quizzed on compliance issues and calculation methods. Payroll systems and accounting are also addressed in this exam.