Job Summary:

The Accounts Payable Specialist, with moderate supervision, will play a crucial role in managing the company's payable processes and ensuring the accurate and timely payment of liabilities. Attention to detail, strong organizational skills, and in-depth understanding of accounts payable procedures will be vital in maintaining accurate financial records and fostering positive relationships with suppliers (vendors).  

Responsibilities:

Scope of the Role 

The Accounts Payable Specialist’s primary responsibility will be to process accounts payable transactions, including reviewing, coding, and entering invoices accurately into the accounting software. The position will work with many cost centers and other co-workers to ensure invoices receive the necessary approvals and authorizations in accordance with company policies. The accounts payable specialist plays a critical role in preparing and processing payments, such as checks, ACH (Automated Clearing House) transfers, and wire transfers, in a timely manner while adhering to payment terms and taking advantage of applicable discounts. The position will reconcile account statements with invoices entered and paid within the accounting system. Any discrepancies are to be resolved immediately. Attention to detail and adherence to established procedures will help maintain accurate financial records and ensure timely payments. 

 

This position will contribute to process improvements by staying updated on industry best practices and changes in accounts payable regulations. An analytical mindset and problem-solving skills are necessary to identify areas for improvement and recommend changes that enhance efficiency and accuracy.  

 

The Accounts Payable Specialist must possess the ability to communicate effectively, collaborate with internal and external contacts and meet deadlines. Organization and time management skills, and the ability to maintain autonomy while working on projects and duties is essential. 

  

Performance Outcomes 

 

     Invoice Processing: 

• Receive, review, and process invoices in accordance with company policies and proper coding 

• Verify invoice accuracy, including proper coding, approvals, and supporting documentation 

• Resolve discrepancies and follow up with vendors or internal stakeholders as necessary 

• Match invoices to appropriate purchase orders or contracts 

• Digitalize hard copy invoices/documents 

• Submit settlements to ensure invoices are paid in a timely and accurate manner while adhering to department procedures and signing authorities 

 

     Vendor Management: 

• Establish and maintain positive relationships with new and existing vendors 

• Set up supplier (vendor) contract installment payments or recurring payments 

• Respond to vendor inquiries and resolve payment-related issues promptly 

• Collaborate with purchasing and receiving departments to resolve purchase order and receiving discrepancies 

• Ensure