Accounts Payable Job Duties

Accounts Payable Job Duties

A specialized accounting position in companies with a large operation incurring payments to suppliers, vendors, business partners or government agencies, an accounts payable job covers the responsibility of keeping track of all due cash disbursements and promissory payment notes.  Depending on the company, the position can be an entry level accounts payable clerk to an accounts payable manager with a team of clerks tasked to handle different accounts across subsidiaries or branches.

Job Duties

• Implement the accounting standards for accounts payable journals and ledgers.
• Process invoices duly approved by the proper corporate offices.
• Ensure that the right accounts payables for each type of invoice are in their proper ledger accounts.
• Ensure correct invoice entries into the accounts payable module of any accounting system.
• Match the checks issued with invoices amounts and ensure the proper check signatories are reflected for check approvals.
• Ensure that invoices have been properly matched with actual deliveries or services performed by 3^rd parties.
• Keep track and journalize all moneys that come out of the company to be summaries in regular cash flow statements.
• Assist the comptroller in preparing the company’s fiscal year income statements for stakeholders and tax payment purposes.
• Compute and prepare the proper tax payments.
• Prepare cash payments to suppliers and vendors.
• Ensure proper bank reconciliation with corporate records.
• Keep track of expenses incurred by cost centers, projects, retail branches, social corporate events, marketing promotions and other corporate activities.
• Assist the payroll accountant in preparing salary checks or deposit authorizations in payroll banks.
• Assist the owner or budget officer in preparing the annual operating and capital expense budgets.