
Accounts Payable Specialist
2 days ago
The Accounts Payable Specialist is responsible for managing the organization's outgoing payments, ensuring accuracy and timeliness while maintaining strong vendor relationships. This role requires close adherence to policies and audit assertions to support financial integrity and prevent errors or fraud.
Reports to:
Key Responsibilities:
- Invoice Processing and Payment Authorization
● Process invoices in a timely and accurate manner, ensuring proper documentation and authorization before payment.
● Verify invoices for completeness, accuracy, and compliance with company policies.
Audit Assertions Addressed: Occurrence, Completeness, Accuracy, Authorization
Tasks:
● Match purchase orders, receipts, and invoices to confirm details.
● Obtain appropriate approvals and ensure accurate coding of expenses.
● Serve as the primary contact for vendor inquiries and resolve any payment-related issues promptly.
● Maintain positive vendor relationships by addressing concerns and ensuring timely payments.
Audit Assertions Addressed: Occurrence, Completeness
Tasks:
● Address vendor inquiries, ensuring timely resolution of discrepancies.
● Communicate with vendors regarding payment schedules, delays, or adjustments.
- Expense Reporting and Reimbursements
● Review employee expense reports for policy compliance, accuracy, and completeness before reimbursement.
● Collaborate with HR and departmental leads to clarify policies and improve reimbursement processes.
Audit Assertions Addressed: Accuracy, Authorization
Tasks:
● Verify receipts and documentation for accuracy and compliance with policy.
● Coordinate with payroll for timely reimbursement of approved expenses.
- Reconciliation and Month-End Close Support
● Reconcile accounts payable sub-ledger with vendor balances and assist with month-end close.
● Prepare accounts payable accruals and support the Financial Controller with related closing activities.
Audit Assertions Addressed: Completeness, Accuracy
Tasks:
● Reconcile AP accounts monthly and investigate discrepancies.
● Prepare monthly AP accrual entries as part of the close process.
- Compliance and Controls
● Ensure adherence to financial policies, procedures, and internal controls.
● Participate in internal and external audits, providing requested documentation and information.
Audit Assertions Addressed: Authorization, Completeness, Occurrence
Tasks:
● Conduct regular audits of AP records to ensure adherence to company policies.
● Assist with implementing new controls to prevent fraud or errors.
Required Skills and Qualifications
● Bachelor's degree in Accounting, Finance, or related field preferred.
● 3-5 years of experience in accounts payable or a similar role.
● Proficiency in accounting software (e.g., Zoho Books, SAP) and MS Excel.
● Strong attention to detail, organizational, and communication skills.
Performance Metrics
● Accuracy and timeliness of invoice processing and payments.
● Vendor satisfaction and relationship quality.
● Compliance with accounts payable policies and procedures.
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