Accounts Payable Supervisor
Job Overview
The Accounts Payable Supervisor oversees the financial operations of a company relating to Payables. They are responsible for monitoring and maintaining AP policies and procedures to ensure accurate and timely payment of invoices while minimizing financial risk to the organization. The Supervisor also oversees an AP team, which includes hiring and training staff, managing workloads and schedules, and ensuring compliance with internal controls. By ensuring that the process runs smoothly, the Manager contributes to the financial health of the organization, maintains positive relationships with vendors, and helps to ensure the company's long-term success.
Organizational Impact
The Accounts Payable Supervisor plays a critical role in ensuring that the organization's financial obligations are met in a timely and accurate manner. The impact of this job on the organization includes:
1. Financial Stability: The Accounts Payable Supervisor ensures that all invoices are processed accurately and on time, which helps maintain the financial stability of the organization.
2. Vendor Relationships: The Accounts Payable Supervisor is responsible for maintaining positive relationships with vendors, which can impact the organization's ability to negotiate favorable terms and pricing.
3. Compliance: The Accounts Payable Supervisor ensures that all payments are made in compliance with internal policies and external regulations, reducing the risk of legal and financial penalties.
4. Process Improvement: The Accounts Payable Supervisor is responsible for identifying areas for process improvement and implementing changes to increase efficiency and reduce costs.
5. Team Management: The Accounts Payable Supervisor manages a team of accounts payable clerks, providing guidance and support to ensure that all tasks are completed accurately and on time.
Overall, the Accounts Payable Supervisor plays a critical role in ensuring the financial health and stability of the organization, while also managing relationships with vendors and ensuring compliance with regulations.
Key Systems
- Accounts payable software
- Enterprise resource planning (ERP) system
- Microsoft Excel
- Online banking platforms
- Electronic data interchange (EDI) systems
The most important five systems for an Accounts Payable Supervisor would be:
- Accounts payable software
- Enterprise resource planning (ERP) system
- Microsoft Excel
- Online banking platforms
- Electronic data interchange (EDI) systems
Inputs
- Invoices and bills from vendors
- Purchase orders and contracts from internal departments
- Payment schedules and deadlines from management
- Communication and updates from accounting team members
- Changes in company policies and procedures related to accounts payable
Outputs
- Supervision and management of accounts payable team
- Review and approval of invoices and payments
- Maintenance of accurate and up-to-date vendor records
- Preparation of financial reports related to accounts payable
- Implementation and enforcement of accounts payable policies and procedures
Activities
- Accounts Payable:
o Safeguard company assets by ensuring departmental accuracy of data entered from invoices; that all invoices are legible, accurately totaled and approved according to company policies and individual authority limits.
o Monitor the work flow of payables and free up bottlenecks by designing workflows amiable to all departments without compromising approval processes.
o Coordinate, train and communicate with the off-site data entry company to ensure invoices are batched and entered according to AP procedures.
o Reconcile vendor statements and acquire missing invoices, with the goal of contacting the vendor before the vendor contacts company, building trust and leeway in future transactions.
o Communicate with vendors, creating relationships with their credit and receivable departments
o Ensure adherence of AP personnel to accounting policies and procedures.
o Assist the Controller with coding/profiling and processing invoices. - Utilities:
o Ensure the timely processing of utility bills to avoid disruptions of service and the extra expense of late charges.
o Supervise the maintenance of spreadsheets to track utility usage of electricity, gas and water to determine that actual readings and charges are in-line with expectations and contractual prices, if any exist. - Scanning / Filing
- Electronic Files:
o Create and supervise the policies and procedures of scanning documents to be profiled for ease of retrieval and legibility of scans.
o Provide scanning services upon request.
o Profile all company documents which are electronically filed.
o Retrieve electronic documents; prepare or deliver copies of documents upon request from individuals and departments. - Paper files:
o Organize and maintain files, ensuring file drawers are not overly crowded.
o Provide daily cleanup of duplicated invoices
o Run diagnostic reports at month end, rebuilding totals on the database if errors are found.
o Perform a monthly database backup before advancing the software to the next accounting month. - 1099 reporting:
o Responsible for 1099MISC, 1099INT and 1099MORT reporting for Boxer and all associated entities. - Escheat reporting:
o Responsible for reporting and sending unclaimed funds to the State of Texas for Boxer and all ass - Accounts Payable:
o Safeguard company assets by ensuring departmental accuracy of data entered from invoices; that all invoices are legible, accurately totaled and approved according to company policies and individual authority limits.
o Monitor the work flow of payables and free up bottlenecks by designing workflows amiable to all departments without compromising approval processes.
o Coordinate, train and communicate with the off-site data entry company to ensure invoices are batched and entered according to AP procedures.
o Reconcile vendor statements and acquire missing invoices, with the goal of contacting the vendor before the vendor contacts company, building trust and leeway in future transactions.
o Communicate with vendors, creating relationships with their credit and receivable departments
o Ensure adherence of AP personnel to accounting policies and procedures.
o Assist the Controller with coding/profiling and processing invoices. - Utilities:
o Ensure the timely processing of utility bills to avoid disruptions of service and the extra expense of late charges.
o Supervise the maintenance of spreadsheets to track utility usage of electricity, gas and water to determine that actual readings and charges are in-line with expectations and contractual prices, if any exist. - Scanning / Filing
- Electronic Files:
o Create and supervise the policies and procedures of scanning documents to be profiled for ease of retrieval and legibility of scans.
o Provide scanning services upon request.
o Profile all company documents which are electronically filed.
o Retrieve electronic documents; prepare or deliver copies of documents upon request from individuals and departments. - Paper files:
o Organize and maintain files, ensuring file drawers are not overly crowded.
o Provide daily cleanup of duplicated invoices
o Run diagnostic reports at month end, rebuilding totals on the database if errors are found.
o Perform a monthly database backup before advancing the software to the next accounting month. - 1099 reporting:
o Responsible for 1099MISC, 1099INT and 1099MORT reporting for Boxer and all associated entities. - Escheat reporting:
o Responsible for reporting and sending unclaimed funds to the State of Texas for Boxer and all associated entities.
Recommended Items
- Accounts Payable policies and procedures manual
- Vendor master file maintenance procedures
- Invoice processing and approval workflow
- Payment processing and disbursement procedures
- Month
- end and year
- end closing procedures for Accounts Payable
Content Examples
- Accounts payable reports and analysis
- Vendor payment records and documentation
- Expense and invoice tracking documentation
- Financial statements and budget reports
- Audit and compliance documentation
Sample Event-Driven Tasks
- Review and approve all invoices received from vendors within 24 hours of receipt
- Investigate and resolve any discrepancies or issues with invoices or payments
- Monitor and ensure timely payment of all invoices to avoid late fees or penalties
- Conduct regular audits of accounts payable processes to identify areas for improvement
- Collaborate with other departments to ensure accurate and timely recording of expenses and payments in the general ledger
Sample Scheduled Tasks
- Review and approve invoices for payment on a weekly basis
- Conduct weekly check runs to ensure timely payment to vendors
- Reconcile vendor statements on a monthly basis to ensure accuracy of accounts payable records
- Manage and oversee the accounts payable team's workload and performance on a daily basis
- Communicate with vendors regarding payment inquiries and discrepancies on a regular basis
Sample Infill Tasks
- Review and approve vendor invoices for payment
- Ensure accuracy and completeness of accounts payable records
- Manage and reconcile accounts payable aging reports
- Supervise and train accounts payable staff
- Communicate with vendors regarding payment inquiries and discrepancies