Accounts Payable Job Description

Accounts Payable Job Profile and Description:

The term ‘accounts payable’ refers to the payments and debts that are to be paid to creditors. The accounts payable clerk is responsible for various accounting and clerical tasks related to the maintenance and processing of accounts payable transactions.

Duties and Responsibilities

• The accounts payable clerk looks after every detail and record of the payments that are due to be made to creditors
• He reviews invoices and cheque requests and sorts and matches invoices and cheques
• After reviewing the requests, he sets invoices up for payment and processes cheque requests
• He also has to process wire transfers and handle reconciliation of payments
• He has to analyse accounts and prepare reports
• He keeps track of the transactions and monitors accounts to ensure payments are up to date
• He has to resolve invoice discrepancies
• He must maintain records and vendor file
• He also needs to correspond with vendors and respond to any queries
• He has to submit monthly reports and help in month end closing
• He also has to record the expenses for tax payment purposes

Skills and Specifications

• A person interested in this field must have knowledge of general accounting procedures, specifically those related to accounts payable
• He should know about the relevant computer applications
• He must be proficient in data entry and management
• He must be organised and pay attention to detail and accuracy
• He should use his discretion, maintain customer confidentiality and be honest
• He must have good communication and problem-solving skills

Education and Qualifications

A bachelor’s degree in commerce with specialisation in accounting, bookkeeping, finance, and economics is helpful. He must be well-versed in accounting software and proficient in computers as most of the transactions are done electronically nowadays. One can also go for an MBA degree.