Accounts Payable Specialist

Accounts Payable Specialist

The Accounts Payable (A/P) Specialist performs advanced accounts payable activities to ensure the accurate, timely, and efficient processing of financial transactions in support of the Authority's transportation operations. The position performs complex invoice and payment processing, reconciliations, discrepancy resolution, vendor support, financial reporting, and month-end and year-end activities in accordance with established policies, procedures, internal controls, applicable accounting standards, and regulatory requirements.

In a public transportation environment, the A/P Specialist supports the timely processing of expenditures related to fleet and vehicle maintenance, parts and supplies, fuel and transportation services, facilities, utilities, professional services, capital projects, and other operational needs. The position works independently within established procedures under the direction of the Manager of Accounts Payable and serves as a key resource for internal departments, vendors, and other stakeholders regarding accounts payable processes and requirements.

The A/P Specialist exercises independent judgment in researching and resolving complex discrepancies, monitoring outstanding transactions, maintaining the integrity and accuracy of financial records, and identifying opportunities to improve accounts payable processes and internal controls.

Essential Job Functions

Invoice Processing and Review

• Receive, review, scan, and maintain incoming accounts payable invoices and supporting documentation.
• Process purchase order and non-purchase order invoices through the Authority's ERP or integrated financial management system.
• Review invoices for accuracy, completeness, proper coding, required approvals, and compliance with Authority policies and procedures.
• Process invoices associated with transportation and transit operations, including fleet maintenance, vehicle parts, fuel, facilities, utilities, professional services, construction, capital projects, and other operational expenditures.
• Perform two-way and three-way matching of invoices, purchase orders, receiving documentation, and other supporting records, as applicable.
• Verify vendor information, quantities, pricing, payment terms, tax treatment, and supporting documentation.
• Identify and resolve invoice discrepancies, including pricing variances, duplicate invoices, missing receiving documentation, incorrect coding, incomplete approvals, and other exceptions.
• Review invoice batch, edit reports and other system-generated reports for accuracy prior to posting.
• Monitor invoice processing to ensure transactions are completed within established payment due dates and applicable prompt payment requirements.
• Research and resolve credit memos, unapplied payments, and other accounts payable exceptions.
• Assist departments with correcting requisitions, purchase orders, receiving receipts, and documentation issues that delay invoice processing.

Payment Processing and Disbursements

• Prepare check requests and verify that required supporting documentation and approvals have been obtained.
• Process approved payment transactions within the ERP or financial management system.
• Assist with scheduled accounts payable disbursement processes, including reviewing payment batches, assembling supporting documentation, and preparing payment and remittance information.
• Review proposed payment batches for completeness, accuracy, unusual transactions, and compliance with established procedures and internal controls.
• Prepare and issue manual checks and other authorized payments in accordance with established procedures.
• Assist with electronic payment processing, including EFT and other approved payment methods.
• Maintain accurate payment registers, transaction records, and supporting documentation.
• Research and resolve returned payments, stale-dated checks, payment errors, and other disbursement issues.
• Assist with outstanding check and unclaimed property research and reporting, as assigned.

Vendor and Account Maintenance

• Maintain accurate vendor master records and supporting documentation within the ERP system.
• Maintain electronic and physical vendor files, including tax forms, payment documentation, correspondence, and other required records.
• Perform appropriate verification of vendor information and changes to payment-related information in accordance with established internal controls.
• Respond professionally and timely to vendor, employee, and departmental inquiries regarding invoices, payments, account balances, and payment status.
• Reconcile vendor statements and research outstanding, disputed, duplicate, or unapplied items.
• Identify trends or recurring vendor issues and recommend appropriate corrective actions.
• Collaborate with Procurement, Finance, Operations, Maintenance, and other Authority departments to resolve invoice, purchase order, receiving documentation, coding, and payment issues.

Reconciliations and Financial Reporting

• Perform routine and complex reconciliations of vendor accounts, accounts payable records, and related financial transactions.
• Research and resolve reconciling items and prepare appropriate adjustments or corrections.
• Monitor accounts payable aging, outstanding liabilities, and other significant or unusual items and communicate concerns to management.
• Analyze accounts payable data to identify discrepancies, unusual activity, recurring issues, and opportunities for process improvement.
• Assist with accruals, prepaid items, and other accounts payable-related general ledger activities.
• Prepare reports and supporting information related to accounts payable activity and outstanding obligations, as assigned.

Month-End, Year-End, and Audit Support

• Perform assigned month-end and year-end accounts payable closing procedures.
• Review outstanding invoices and liabilities to support accurate financial reporting and timely recording of expenses.
• Assist with identifying and documenting accrued expenses and other period-end adjustments.
• Review transactions for compliance with Authority policies, internal controls, Accounts Payable Standard Operating Procedures, and applicable laws and regulations.
• Support internal and external audits by preparing and providing requested transaction records, reconciliations, and supporting documentation.
• Assist with maintaining documentation necessary to demonstrate compliance with financial policies, internal controls, and audit requirements.

Compliance, Internal Controls, and Process Improvement

• Perform duties in compliance with Authority policies, established internal controls, applicable accounting standards, and federal, state, and local laws and regulations.
• Apply appropriate internal controls and segregation-of-duties requirements to accounts payable transactions.
• Support compliance with public-sector procurement and payment requirements, including applicable prompt-payment requirements.
• Assist with monitoring expenditures and supporting documentation associated with grant-funded, capital, or federally funded transportation programs, as assigned.
• Identify and communicate control weaknesses, recurring errors, and opportunities to improve efficiency, accuracy, and financial integrity.
• Recommend and assist with implementing process improvements, automation opportunities, and standardized accounts payable procedures.
• Assist with testing and implementing ERP system enhancements, upgrades, workflow changes, and accounts payable-related system functionality.
• Assist with updating and documenting accounts payable procedures, workflows, and training materials.
• Maintain confidentiality and safeguard sensitive financial, vendor, employee, banking, and payment information.

Administrative and Operational Support

• Maintain accurate, complete, and organized electronic and physical accounts payable records in accordance with applicable records retention requirements.
• Provide guidance and technical assistance to departments regarding accounts payable policies, procedures, documentation, and payment requirements.
• Assist with training and cross-training staff on accounts payable procedures, ERP processes, internal controls, and applicable policies, as needed.
• Serve as an accounts payable resource and assist with workflow coordination and prioritization as assigned.
• Provide backup support for other accounts payable and Finance functions during periods of high volume, staff absence, or operational need.
• Exercise independent judgment while escalating significant, unusual, or sensitive matters to the Manager of Accounts Payable.

Marginal Functions

• Perform other related duties and special projects as assigned.
• Provide back-up assistance to other Finance and Accounting functions as needed.
• Participate in departmental initiatives, process improvement projects, system implementations, and other operational activities.

Requirements

Education and Experience:

An equivalent combination of related education and experience may be substituted for the below-stated minimum qualifications, excluding High School Diploma, GED, licenses, or certifications.

Minimum Qualifications:

• Associate degree in Accounting, Finance, Business Administration, or a related field.
• One (1) to Three (3) years of progressively responsible Accounts Payable or accounting experience, including invoice and payment processing, reconciliations, discrepancy resolution, and vendor account maintenance.
• Experience using an ERP or integrated financial management system.
• Proficiency with Microsoft Excel, Outlook, and Word.

Preferred Qualifications: