Accounts Payable Job Description

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Account Payable Job Description

The role of a professional working as an Account Payable is to ensure the amounts owed by the company to its creditors are paid on time. It involves paying to the third-party vendors and employees, preparing checks, tracking all the invoices, paying outstanding dues, and putting stop payments, among others. They need to highlight hidden costs and protect businesses against overpayment.

Professionals working as Account Payable must adhere to the company’s confidentiality rules and provide an accurate report of cash flow. They need to maintain good relationships with associated vendors and valued partners.

Duties and Responsibilities

Prepare invoices to be paid by the company
Process invoices and keep account payable records up-to-date
Undergo all the third party or vendor payment agreements and use discounts to reduce the invoice amount
Reconcile payment records to confirm all the dues were paid
Generate and log all the new purchase orders
Record all the sales tax paid on the generated invoices
Maintain petty cash funds and track all the disbursements
Build healthy relationships with associated vendors
Microfilm and file documents to maintain all the historical records
Practice confidentiality and abide by the local, state, and federal financial laws and regulations
Verify expense reports and prepare paychecks for the employees
Issue stop payments whenever required and make sought invoice amendments