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Sr. Accounts Payable Clerk

Job Overview

The Senior Accounts Payable Clerk is responsible for managing and overseeing the accounts payable process on a daily basis. This includes verifying and processing invoices, ensuring timely payments to vendors, and maintaining accurate financial records. The individual will also reconcile account statements, resolve discrepancies, and collaborate with internal departments to ensure efficient workflow. A key objective is to maintain strong vendor relationships while ensuring compliance with company policies and financial regulations. Additionally, the role involves preparing reports and assisting with audits to support the organization’s financial integrity.

Organizational Impact

The role of a Senior Accounts Payable Clerk is pivotal to the company's overall success. By ensuring the timely and accurate processing of invoices and payments, this position directly influences the organization's financial health and liquidity. The work of the Senior Accounts Payable Clerk facilitates smooth operations across various departments by maintaining strong relationships with vendors and ensuring that supplies and services are uninterrupted. This role also plays a crucial part in driving financial performance by identifying cost-saving opportunities and preventing late payment penalties. Furthermore, the Senior Accounts Payable Clerk ensures compliance with financial regulations and internal policies, thereby reducing the risk of financial discrepancies and audits. In a broader context, this position supports the achievement of strategic goals by providing reliable financial data that informs decision-making and strategic planning.

Key Systems

A Senior Accounts Payable Clerk must be proficient in a range of essential software, tools, and technologies to effectively manage financial transactions and maintain accurate records. Key platforms include accounting software such as Yardi, QuickBooks, Xero, Sage, AppFolio, and MRI, which are crucial for processing invoices, managing vendor accounts, and ensuring compliance with financial regulations. Additionally, familiarity with enterprise resource planning (ERP) systems and customer relationship management (CRM) systems is important for streamlining operations and enhancing communication within the organization. Proficiency in these systems is vital for optimizing workflow efficiency and ensuring the accuracy and integrity of financial data.

Inputs

The Senior Accounts Payable Clerk is responsible for managing a variety of financial documents and data essential for daily operations. This role requires handling invoices, purchase orders, and payment requests, which are typically sourced from internal departments such as procurement and finance. Additionally, the clerk must process vendor statements and reconcile discrepancies, often requiring communication with external suppliers. The position also involves utilizing accounting software and systems to input and track financial transactions, ensuring accuracy and compliance with company policies.

Outputs

The Senior Accounts Payable Clerk is responsible for generating several key deliverables that are crucial to the financial operations of the organization. These include detailed financial reports, processed invoices, and accurate payment records. The financial reports provide insights into the organization's expenditure patterns and are used by management to make informed budgeting and financial planning decisions. Processed invoices ensure that all vendor payments are made accurately and on time, maintaining good relationships with suppliers. Accurate payment records are essential for auditing purposes and help in maintaining transparency and accountability within the organization. These outputs are vital for both internal stakeholders, such as the finance and management teams, and external parties, such as auditors and vendors.

Activities

- Process and verify invoices for accuracy and compliance with company policies.

- Reconcile vendor statements and resolve discrepancies promptly.

- Prepare and execute payment runs, ensuring timely disbursement of funds.

- Maintain accurate and organized records of all accounts payable transactions.

- Collaborate with internal departments to address and resolve payment issues.

- Assist in month-end closing activities related to accounts payable.

- Monitor and respond to vendor inquiries in a professional and timely manner.

Recommended Items

- Implement a standardized invoice processing checklist.

- Use a vendor management database template.

- Follow GAAP for accurate financial reporting.

- Utilize a monthly reconciliation checklist.

- Adopt a purchase order matching procedure.

- Maintain a detailed payment approval matrix.

- Use an expense report template for consistency.

Content Example

- Process vendor invoices and payment requests.

- Reconcile monthly statements and transactions.

- Prepare accounts payable reports and summaries.

- Maintain vendor files and records.

- Assist in month-end closing activities.

- Generate and distribute payment checks or electronic transfers.

- Resolve discrepancies and issues with vendors.

Sample Event-Driven Tasks

- Review and process invoices for new projects promptly.

- Coordinate with project managers to verify budget allocation.

- Ensure timely payment of invoices before project deadline.

- Address and resolve any discrepancies in billing or payment.

- Prepare financial reports for project-specific request.

- Assist in audits related to specific project expenditure.

- Update vendor records based on project requirements.

Sample Scheduled Tasks

- Process and verify invoices for payment.

- Reconcile vendor statements and resolve discrepancies.

- Prepare and execute weekly payment runs.

- Maintain accurate and organized financial records.

- Assist in month-end closing activities.

- Monitor and respond to vendor inquiries promptly.

- Ensure compliance with company policies and procedures.

Sample Infill Tasks

- Conduct vendor account reconciliations.

- Address and resolve payment discrepancies.

- Assist in audits by providing necessary documentation.

- Update and maintain vendor records.

- Review and process employee expense reports.

- Handle urgent payment requests.

- Monitor and respond to vendor inquiries.

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