Accounts Payable Specialist

Job Description

Job Description

ACCOUNTS PAYABLE SPECIALIST JOB DESCRIPTION

Position Summary

• Review, verify, and process vendor invoices accurately and timely.
• Match invoices to purchase orders, contracts, receipts, and supporting documentation.
• Ensure proper coding of invoices to general ledger accounts, cost centers, departments, and projects.
• Research and resolve invoice discrepancies, pricing issues, duplicate payments, and approval variances.
• Monitor invoice workflow and follow up on outstanding approvals.
• Process recurring invoices and automated payment transactions.

• Establish and maintain vendor records in the accounting system.
• Validate vendor information, including tax forms, banking details, and payment terms.
• Coordinate vendor onboarding and ensure compliance with company policies.
• Respond promptly to vendor inquiries regarding payment status and account balances.
• Investigate and resolve vendor disputes and reconciliation issues.
• Maintain professional and positive vendor relationships.

• Prepare and process payment runs via check, ACH, wire transfer, virtual card, and other approved payment methods.
• Ensure payments are made according to contractual terms and company policies.
• Monitor discount opportunities and optimize payment timing.
• Maintain payment schedules and cash flow requirements.
• Ensure proper authorization and documentation for all disbursements.
• Review and process urgent and exception payments when necessary.

• Perform vendor statement reconciliations regularly.
• Reconcile accounts payable subledger to the general ledger.
• Investigate and resolve aged balances and outstanding transactions.
• Monitor prepaid expenses and accrual-related invoices.
• Assist in identifying process improvements and reconciliation efficiencies.

• Assist in month-end close activities related to accounts payable.
• Prepare AP accruals and ensure proper recording of liabilities.
• Reconcile AP-related accounts and prepare supporting schedules.
• Support annual audits by providing documentation and responding to auditor requests.
• Assist with year-end reporting and tax-related requirements.

• Review employee expense reports for compliance with company policies.
• Verify supporting receipts and approvals.
• Process reimbursements accurately and within established timelines.
• Investigate discrepancies and communicate with employees regarding missing or incomplete documentation.

• Ensure adherence to company policies, accounting procedures, and internal controls.
• Support segregation-of-duty controls and fraud prevention measures.
• Maintain confidentiality of financial and vendor information.
• Assist with implementation and monitoring of AP policies and procedures.
• Support compliance with tax regulations and reporting requirements.

• Prepare recurring and ad hoc accounts payable reports.
• Monitor AP aging reports and identify potential issues.
• Analyze payment trends and vendor activity.
• Assist management with budgeting and cash forecasting information.
• Provide recommendations for process enhancements and cost-saving opportunities.