Account Payable Specialist

Job Title: Account Payable Specialist

Job Summary:

The Account Payable Specialist is responsible for managing all aspects of accounts payable processes. This includes verifying and processing invoices, reconciling vendor statements, resolving discrepancies, and ensuring timely and accurate payments to vendors. The specialist will collaborate with internal teams and external vendors to maintain good relationships and streamline payment procedures. Attention to detail, organizational skills, and a strong understanding of financial processes are essential for this role.

Duties and Responsibilities:

Invoice Processing:

• Receive and verify invoices for goods and services.
• Match invoices with purchase orders and receipts.
• Ensure accurate coding of expenses and cost centers.
• Prepare and process invoices for payment.

Payment Processing:

• Prepare and execute payment runs, including checks, ACH transfers, and wire transfers.
• Reconcile payment discrepancies and resolve issues with vendors.
• Monitor payment schedules to ensure timely payments.

Vendor Management:

• Communicate with vendors regarding invoice discrepancies or payment issues.
• Build and maintain relationships with suppliers.
• Negotiate payment terms and discounts with vendors to optimize cash flow.

Record Keeping and Reporting:

• Maintain accurate and organized accounts payable records.
• Prepare and maintain various reports related to accounts payable activities.
• Assist in month-end closing processes and account reconciliation.

Compliance and Documentation:

• Ensure compliance with company policies and accounting regulations.
• Verify tax compliance and manage W-9 forms and other vendor-related documents.
• Assist in audits by providing necessary documentation and explanations.

Process Improvement:

• Identify and implement process improvements to enhance efficiency and accuracy.
• Work closely with cross-functional teams to streamline procure-to-pay processes.

Qualifications:

• Bachelor’s degree in Accounting, Finance, or related field (preferred).
• Proven experience as an Accounts Payable Specialist or in a similar role.
• Strong understanding of accounting principles and practices.
• Proficiency in accounting software and ERP systems.
• Excellent attention to detail and accuracy.
• Strong organizational and time-management skills.
• Effective communication and interpersonal skills.
• Ability to work independently and in a team-oriented environment.
• Problem-solving skills and ability to resolve discrepancies efficiently.
• Knowledge of relevant tax laws and regulations is a plus.

Conclusion:

The Account Payable Specialist plays a vital role in maintaining the financial integrity of the organization by ensuring accurate and timely processing of payments to vendors. This position requires a keen eye for detail, strong organizational skills, and the ability to collaborate effectively with internal and external stakeholders.

Job Type: Full-time

Pay: $20.00 - $22.00 per hour

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Flexible spending account
• Health insurance
• Life insurance
• Paid time off
• Vision insurance

Schedule:

• Monday to Friday

Work Location: In person

Salary : $20 - $22