An Accounts Payable Clerk is the person who pays and reconciles all approved expenditures for an organization and ensures all expenses are paid in due time. They can also be called accounts payable representative or accounts payable processor.
Their job description includes processing vendor payments and invoices, they provide accurate and prompt responses to internal cum external clients and assist in checking all invoices and statements for accuracy.
The individual will scan and code invoices, cross reference and ensures appropriate approval of all invoices, maintain consistency of vendor’s database and request set up of all new vendors in the system.
He/She will liaise with vendors in order to ensure appropriate tax information is received and obtain account information. The Accounts Payable Clerk will identify procurement opportunities based on AP spending and group vendors according to procurement standards.
While working under the supervision of a manager, accounts payable clerks maintain and compile accounting records for all payable systems.
This includes working with service providers and vendors in order to reconcile purchase orders, and paying invoices by using electronic payment methods or writing checks.
Transactions are typically approved by a supervisor before payment.
The everyday duties of an Accounts Payable Clerk may seem boring and rigid to the non-initiated, but without his contributions, the engine oil of a company may run dry.
The first line of business for an Accounts Payable Clerk after receiving an invoice is to internally verify that the item(s) being billed were actually purchased and collected by the company.
He/she also makes sure that the amount in question is accurate.
He/she must also confirm any duties, tax and other residual calculations. Once an invoice has been confirmed and verified, the clerk then enter such into a master database for payment and archiving purposes.
The system used for this purpose may be applications as simple as Quicken software for smaller firms or, an enterprise solution of much greater complexity for larger companies. Nonetheless, the purpose is essentially the same: to trigger the cutting of a payment check and register the amount due.
Job Description, Duties, Tasks, and Responsibilities of Accounts Payable Clerks
Below is a list of tasks, duties, and responsibilities that may make up the accounts payable clerk’s job description:
- Distribute signed checks as requested.
- Prepare garnishment checks for each report from payroll.
- Act as the middleman between branch accounts and corporate payable departments.
- Answer all vendor questions and inquiries.
- Maintain spreadsheets, all accounts payable reports and corporate accounts payable files.
- Assist branch personnel and Corporate Financial Officers as necessary.
- Prepare cleared checks for storage.
- Processes and assemble overnight shipments to branches.
- Assist firm in monthly closings.
- Prepare analysis of accounts when required.
- Perform copying and filing.
- Perform other assigned duties.
- Verify entries and compare system reports to balances.
- Charge expenses to accounts centers by analyzing invoice cum expense reports.
- Recording entries and preparing checks.
- Pay firm employees by verifying and receiving expense reports and requests for advances.
- Maintain accounting ledgers by posting and verifying account transactions.
- Maintain historical records by filing and microfilming documents.
- Disburse petty cash.
- Record entry and verify documentations.
- Protect and keep company information confidential.
- Update self-knowledge on the job by participating in educational opportunities.
Knowledge, Skills, and Requirements from Accounts Payable Clerks
To be effective performing the tasks of an accounts payable clerk in an organization, the following are the knowledge, traits, and special abilities the individual should develop, which employers are looking for.
- Data entry skills and speed at typing.
- Excellent attention to detail.
- Very detailed personality with ability to work harmoniously in a team.
- Strong working knowledge of MS Word, Excell, Outlook, and other Microsoft Office package.
- Knowledge of accounting software, including MAS500.
- Excellent time management skills needed to carry out tasks within schedule and accurately.
- Strong ability to communicate effectively both verbally and written with all levels of staff in the organization.
- Strong organizational, problem solving skills; ability to multitasks and deliver projects before deadline is reached.
Featured Video:Functions of the Accounts Payable Clerk
The accounts payable clerk is an important member of the accounting team in most organizations, especially those that have frequent need to purchase items.
As shown in the video below, these accounting professional have the responsibility of confirming invoices and approving payments to suppliers.
If there are problems with suppliers’ invoices, the accounts payable clerk reaches with the supplier directly to iron out the issue.