Accounts Payable Clerk Job Description and Salary

Overview

An Accounts Payable Clerk is a vital part of the finance and accounting department.

Responsible for managing payments owed by the company to suppliers and creditors, this role ensures that financial obligations are met in a timely and accurate manner.

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Typically reporting to the Accounts Payable Supervisor or Manager, the clerk plays a key role in maintaining the financial health of the organization.

Key Responsibilities

The primary responsibilities of an Accounts Payable Clerk include:

1. Invoice Processing:
   • Receive and review invoices for accuracy.
   • Verify that all invoices are authorized for payment.
   • Enter invoice details into the accounting software or ERP system and ensure they are matched against purchase orders or delivery receipts.
2. Payment Processing:
   • Prepare checks or electronic payment transactions based on payment terms.
   • Ensure that payments are issued in a timely manner to avoid late fees or disrupted supplier relationships.
   • Maintain an electronic or physical filing system for invoices and payment records.
3. Reconciliation:
   • Regularly reconcile vendor statements to track outstanding invoices and resolve discrepancies.
   • Assist in preparing monthly accounts payable reports to give insight into the department’s performance.
4. Communication:
   • Liaise with vendors to resolve billing discrepancies and respond to payment inquiries.
   • Work closely with internal departments to verify expenses and resolve issues related to accounts payable.
5. Compliance and Documentation:
   • Ensure compliance with company policies and regulatory requirements related to financial reporting and payment processes.
   • Prepare and maintain detailed records of all transactions in line with audit requirements.
6. Continuous Improvement:
   • Identify opportunities for streamlining processes and improving systems that relate to accounts payable operations.
   • Stay updated with software and industry trends to enhance efficiency and accuracy.

Required Skills and Qualifications

To be successful as an Accounts Payable Clerk, candidates typically must possess the following skills and qualifications:

• Education: A high school diploma is generally required, though an associate’s degree in finance, accounting, or a related field is often preferred.
• Experience: Prior experience in an accounts payable or related financial role is valued. Familiarity with accounting software (such as QuickBooks, Sage, or SAP) is a plus.
• Attention to Detail: The ability to work meticulously with numbers to ensure accuracy in payment processing and record-keeping is crucial.
• Organizational Skills: Strong organizational abilities to manage multiple tasks and deadlines efficiently.
• Communication Skills: Excellent verbal and written communication skills to interact effectively with vendors and colleagues.
• Problem-Solving Skills: Capacity to analyze issues and provide solutions, especially in cases of discrepancies or invoice disputes.

Salary Overview

The salary for an Accounts Payable Clerk can vary based on factors such as geographic location, industry, and level of experience. As of 2023, the following provides a general overview of the salary range for this position:

Average Salary

Entry-Level Positions: Typically range from $35,000 to $45,000 annually. Entry-level clerks may also have opportunities for overtime pay, which can increase their overall earnings.

Mid-Level Positions: Clerks with a few years of experience or specialized skills may earn between $45,000 and $55,000. This range often includes those who have developed expertise in certain accounting software or who have taken on additional responsibilities.

Senior or Specialized Positions: Accounts Payable Clerks in senior roles or those working in specialized sectors might see salaries ranging from $55,000 to $70,000 or more depending on the complexity of their duties and the organization’s size.

Additional Financial Incentives

In addition to base salaries, many organizations also offer benefits that can enhance total compensation. Common benefits include:

• Health insurance
• Retirement plans (such as a 401(k))
• Paid time off (PTO)
• Professional development reimbursement

Conclusion

An Accounts Payable Clerk is an essential role that requires a detail-oriented mindset, strong organizational skills, and effective communication abilities.

As companies increasingly recognize the importance of maintaining healthy vendor relationships and accurate financial records, the demand for skilled accounts payable professionals is likely to remain strong.

With competitive salaries and opportunities for career growth, this position represents a valuable entry point into the accounting and finance field.