Accounts Payable/Receivable Job Description
Job Title: Accounts Payable/Receivable
Job Summary:
Accounts Payable/Receivable Specialists are responsible for handling the financial transactions of a company, including processing vendor invoices, verifying accuracy, reconciling accounts, preparing payments, generating customer invoices, monitoring accounts receivable aging, following up on overdue payments, and resolving billing discrepancies. Their role involves maintaining accurate financial records, managing vendor and customer relationships, and ensuring the timely processing of payments.
Key Responsibilities:
Accounts Payable Responsibilities:
- Process vendor invoices for payment
- Verify invoice accuracy and match with purchase orders
- Reconcile vendor statements and resolve discrepancies
- Prepare and process payments to vendors
- Maintain vendor records and ensure timely payments
Accounts Receivable Responsibilities:
- Generate and send invoices to customers
- Monitor accounts receivable aging and follow up on overdue payments
- Reconcile customer accounts and resolve billing discrepancies
- Process customer payments, including credit card transactions and checks
- Prepare aging reports and assist with cash flow management
Financial Record Maintenance:
- Update and maintain accurate financial records for accounts payable and accounts receivable transactions
- Ensure all financial data is entered correctly into accounting systems and databases
Relationship Management:
- Communicate with vendors regarding payment inquiries and discrepancies
- Interact with customers to address billing inquiries and resolve payment issues
- Build and maintain positive relationships with both vendors and customers
Reporting and Analysis:
- Prepare and analyze accounts payable and accounts receivable reports
- Monitor payment trends, aging reports, and cash flow projections
- Provide financial data and analysis to support decision-making processes
Process Improvement:
- Identify opportunities to streamline accounts payable and accounts receivable processes
- Implement efficiency improvements to enhance accuracy and timeliness of transactions
- Collaborate with cross-functional teams to optimize financial operations
Compliance:
- Ensure compliance with company policies, accounting standards, and regulatory requirements
- Maintain confidentiality of financial information and adhere to data protection protocols
- Assist in internal and external audits by providing documentation and support
Key Qualifications:
Education and Certification:
- Bachelor’s degree in Accounting, Finance, or related field
- Certification in accounting or finance (e.g., CPA, CMA) preferred
Experience:
- Prior experience in accounts payable and accounts receivable roles
- Familiarity with accounting software and financial systems
Technical Skills:
- Proficiency in Microsoft Excel and accounting software
- Ability to perform data entry accurately and efficiently
Communication Skills:
- Effective written and verbal communication skills for interacting with vendors, customers, and internal stakeholders
- Ability to communicate financial information clearly and concisely
