Accounts Payable Specialist

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Accounts Payable Specialist

4 days ago Requisition ID: 1097

Salary Range: $25.00 To $35.00 Annually

ACCOUNTS PAYABLE SPECIALIST JOB DESCRIPTION

Position Summary

The Accounts Payable Specialist is responsible for managing the organization's full-cycle accounts payable process, ensuring accurate and timely processing of invoices, expense reports, vendor payments, account reconciliations, and compliance with company policies and accounting standards. This role works closely with vendors, internal departments, procurement teams, and finance management to maintain strong vendor relationships while supporting the organization's financial controls and operational efficiency.

The ideal candidate possesses strong attention to detail, excellent organizational skills, a solid understanding of accounting principles, ability to follow instructions and the ability to manage multiple priorities in a fast-paced environment.

Essential Duties and Responsibilities

Invoice Processing and Validation

• Review, verify, and process vendor invoices accurately and timely.
• Match invoices to purchase orders, contracts, receipts, and supporting documentation.
• Ensure proper coding of invoices to general ledger accounts, cost centers, departments, and projects.
• Research and resolve invoice discrepancies, pricing issues, duplicate payments, and approval variances.
• Monitor invoice workflow and follow up on outstanding approvals.
• Process recurring invoices and automated payment transactions.
• Establish and maintain vendor records in the accounting system.
• Validate vendor information, including tax forms, banking details, and payment terms.
• Coordinate vendor onboarding and ensure compliance with company policies.
• Respond promptly to vendor inquiries regarding payment status and account balances.
• Investigate and resolve vendor disputes and reconciliation issues.
• Maintain professional and positive vendor relationships.

Payment Processing

• Prepare and process payment runs via check, ACH, wire transfer, virtual card, and other approved payment methods.
• Ensure payments are made according to contractual terms and company policies.
• Monitor discount opportunities and optimize payment timing.
• Maintain payment schedules and cash flow requirements.
• Ensure proper authorization and documentation for all disbursements.
• Review and process urgent and exception payments when necessary.

Reconciliations and Account Analysis

• Perform vendor statement reconciliations regularly.
• Reconcile accounts payable subledger to the general ledger.
• Investigate and resolve aged balances and outstanding transactions.
• Monitor prepaid expenses and accrual-related invoices.
• Assist in identifying process improvements and reconciliation efficiencies.

Month-End and Year-End Close Support

• Assist in month-end close activities related to accounts payable.
• Prepare AP accruals and ensure proper recording of liabilities.
• Reconcile AP-related accounts and prepare supporting schedules.
• Support annual audits by providing documentation and responding to auditor requests.
• Assist with year-end reporting and tax-related requirements.

Expense Management

• Review employee expense reports for compliance with company policies.
• Verify supporting receipts and approvals.
• Process reimbursements accurately and within established timelines.
• Investigate discrepancies and communicate with employees regarding missing or incomplete documentation.

Compliance and Internal Controls

• Ensure adherence to company policies, accounting procedures, and internal controls.
• Support segregation-of-duty controls and fraud prevention measures.
• Maintain confidentiality of financial and vendor information.
• Assist with implementation and monitoring of AP policies and procedures.
• Support compliance with tax regulations and reporting requirements.

Reporting and Analysis

• Prepare recurring and ad hoc accounts payable reports.
• Monitor AP aging reports and identify potential issues.
• Analyze payment trends and vendor activity.
• Assist management with budgeting and cash forecasting information.
• Provide recommendations for process enhancements and cost-saving opportunities.

System Administration and Process Improvement

• Utilize ERP and accounting systems efficiently.
• Maintain accurate AP records and electronic document management.
• Participate in system upgrades, testing, and implementation projects.
• Recommend automation opportunities to improve efficiency and accuracy.
• Assist in developing and documenting standard operating procedures.

Qualifications

Education

• Associate degree in Accounting, Finance, Business Administration, or related field required.
• Bachelor's degree preferred.

Experience

• 3-5 years of accounts payable or accounting experience preferred.
• Experience with full-cycle accounts payable processing.
• Experience within a multi-entity, multi-location, or high-volume environment is highly desirable.
• Experience with ERP systems and automated AP platforms preferred.

Technical Skills

• Strong understanding of accounts payable processes and accounting principles.
• Proficiency in Microsoft Excel, including data analysis and reconciliation functions.
• Experience with Sage Intacct and QuickBooks.
• Knowledge of electronic payment platforms, banking portals and vendor portals.

Knowledge, Skills, and Abilities

Accounting Knowledge

• Understanding of Generally Accepted Accounting Principles (GAAP).
• Knowledge of account coding, accruals, and financial reporting concepts.
• Familiarity with purchase order and procurement processes.

Analytical Skills

• Strong problem-solving abilities.
• Ability to identify discrepancies and resolve issues independently.
• High level of accuracy and attention to detail.

Communication Skills

• Excellent verbal and written communication skills.
• Ability to communicate effectively with vendors, management, and internal stakeholders.

Organizational Skills

• Ability to prioritize competing deadlines.
• Ability to manage large volumes of transactions with accuracy.

Interpersonal Skills

• Professionalism and diplomacy in vendor interactions.
• Team-oriented mindset.
• Ability to work collaboratively across departments.

Key Performance Indicators (KPIs)

• Invoice processing accuracy rate
• Percentage of invoices processed within service level agreements
• Vendor payment timeliness
• Number of unresolved vendor disputes
• Month-end close completion timelines
• Audit findings related to AP activities
• Early payment discount capture rate
• Expense report processing turnaround time
• Compliance with internal controls and company policies

Working Conditions

• Primarily office work environment.
• Prolonged periods of sitting and computer use.
• Occasional overtime during month-end, quarter-end, and year-end close periods.
• Frequent interaction with vendors, employees, and management.

Reporting Structure

Reports To: Director of Accounting

Works Closely With

• Operations Teams
• Treasury
• Financial Reporting Team
• Payroll Department
• External Vendors

Preferred Attributes

• High integrity and professionalism.
• Detail-oriented and highly organized.
• Proactive and solution-driven mindset.
• Ability to maintain confidentiality.
• Adaptable to changing priorities and business needs.
• Commitment to continuous improvement and process optimization.

#J-18808-Ljbffr