An Accounts Payable Specialist plays a crucial role in managing a company's financial obligations. This position is responsible for ensuring that all invoices and payments are processed accurately and efficiently.
By maintaining organized financial records, the Accounts Payable Specialist contributes to the overall health of the company's finances. This job requires attention to detail, strong analytical skills, and the ability to communicate effectively with vendors and internal teams.
In this job description template, you'll find key responsibilities, qualifications, and essential skills needed to thrive in this role, making it easier to attract the right candidates who can help streamline your accounts payable process.
As an Accounts Payable Specialist, your primary responsibilities will include: ensuring timely and accurate processing of invoices, maintaining organized financial records, reconciling vendor statements, and preparing reports for management. You will also be responsible for verifying purchase orders against invoices and responding to vendor queries.
Additionally, you'll assist in month-end closing processes and contribute to improving payment processes.
To qualify for the Accounts Payable Specialist role, candidates should possess an associate's degree in finance, accounting, or a related field. Previous experience in accounts payable or accounting is highly preferred.
Strong understanding of accounting principles and proficiency in accounting software is essential. Candidates should also have excellent organizational skills, attention to detail, and the ability to work under tight deadlines.
Successful Accounts Payable Specialists exhibit a range of skills including strong analytical abilities, attention to detail, and effective communication skills. Proficiency in Excel and other financial software is important for data management.
Time management skills are crucial for meeting deadlines, while problem-solving skills help address discrepancies effectively.
Accounts Payable Specialists have various career advancement opportunities within finance and accounting. They can progress to roles such as Accounts Payable Manager, Financial Analyst, or even Controller.
Gaining additional certifications in accounting or finance can further enhance career prospects.
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Key Responsibilities
1.
- •Process 150–300 vendor invoices per week using the AP system (e.g., Oracle, NetSuite). Match invoices to POs and receipts, route exceptions within 24 hours, and prepare ACH/check runs to meet vendor terms (typically NET 30). This reduces late fees and preserves vendor relationships.
2.
- •Respond to vendor inquiries within 24–48 hours, investigate discrepancies, and resolve disputes. Track open issues in a vendor log and close 90% within 7 business days to avoid service interruptions.
3.
- •Reconcile AP subledger to the general ledger within 5–10 days after month end. Post accruals and clear temporary accounts to ensure financial statements are accurate and closing timelines (usually 5 business days) are met.
4.
- •Maintain a 30–60 day payment schedule, forecast weekly cash needs, and prioritize payments to optimize working capital. Aim to keep past-due AP under 5% of total payables.
5.
- •Prepare 1099 reports, verify tax IDs (TINs) for new vendors, and support audits with organized backup files. Ensure 100% of required vendor records are on file to avoid penalties.
6.
- •Identify and implement at least one process improvement per quarter (e.g., automated three-way match, electronic vendor onboarding) to reduce invoice cycle time by 10–20%.
7.
- •Coach junior AP staff, conduct weekly huddles, and document procedures to keep SLA performance consistent. Cross-train to cover leave and peak periods.
Actionable takeaway: Prioritize timely invoice processing, clear vendor communication, and monthly reconciliations to keep AP accurate and cash flow predictable.
Required Qualifications
Technical skills
- •AP/ERP systems (must): Hands-on experience with at least one major ERP (QuickBooks, NetSuite, SAP, Oracle). Use daily for invoice entry, PO matching, and payment runs.
- •Excel (must): Proficient with VLOOKUP/XLOOKUP, pivot tables, and basic macros to reconcile 500+ line items monthly and build variance reports.
- •Electronic payments and banking (nice-to-have): Familiarity with ACH, wire transfers, and virtual card platforms to execute vendor payments securely.
Soft skills
- •Attention to detail (must): Catch invoice discrepancies and coding errors to prevent material misstatements during month-end close.
- •Communication (must): Clear email/phone skills to resolve vendor disputes within 48 hours and coordinate with procurement.
- •Time management (must): Balance daily invoice volume with month-end priorities; meet a 5–10 day close window.
Education & certifications
- •Minimum: Associate degree in accounting or business, or equivalent experience.
- •Preferred: Bachelor’s in Accounting or Finance for roles that require deeper reconciliations and reporting.
- •Certifications (nice-to-have): AP Certification, Certified Bookkeeper, or progress toward CPA improves credibility in audits.
Experience requirements
- •Must-have: 2–4 years in accounts payable or full-cycle accounting; experience handling 1,000+ invoices/month or managing vendor payments for 50+ active suppliers.
- •Nice-to-have: Exposure to multi-entity accounting, foreign currency transactions, 1099/withholding processes, or ERP migrations.
Actionable takeaway: Hire candidates with strong ERP and Excel skills, proven volume experience, and communication strengths to ensure accurate, timely AP operations.