This article was updated on April 2020
Accounts Payable Job Description
In this job you will be responsible for the processing of invoices and the issuing of payments. You will play an important role in the efficient operation of your company by maintaining financial records and assisting with the overall operation of your organisation’s finance department.
If you enjoy number crunching and want to be a big player in the financial running of a company. Are you interested in Accounts Payable job role? Read on for detailed Accounts Payable job description to see if this role is right for you.
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Typical Duties Of An Accounts Payable
This usually depends on whether you work for a small or large company. In a smaller organisation you could be tasked with a wide range of accounting duties including payroll and general bookkeeping on top of your role as accounts payable clerk. In a larger business, you will have a specific role within its finance department. Your typical duties will include:
- Reviewing and verifying invoices and cheque requests.
- Sorting, coding and matching invoices before setting them up for payment.
- Preparation and processing of electronic transfers and payments.
- Maintenance of vendor files.
- Liaising with clients.
- Working to continuously improve the payment processes of your company.
- Ensuring the correct supporting documentation is available for audits.
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Accounts Payable Salary
According to Payscale, you can expect to earn an average of €29,454 per annum range in 2020. Depending on your experience the ranges are €25,000-€35,000 per year.
And if you get promoted to Accounts Payable Manager you can expect an average of €38,000 a year and up to €61,000 per annum if you have +5 years experience on this role.
Life As An Accounts Payable
This is primarily an office based role although you might have to meet clients in out of office appointments or attend training days. In a full time role you will work a typical 37-40 hour work week from Monday to Friday. However, you can expect to be extremely busy on specific occasions such as the end of the financial year where you’ll probably be working overtime.
What Are The Benefits?
There are all manner of potential roles available to you if you work hard and earn a positive reputation. You could decide to become a chartered accountant, auditor, financial controller, financial director or management accountant for example.
It’s a dream role for anyone that likes studying and loves numbers because the role involves plenty of both!
What Are The Downsides?
As the role sees you stuck in an office at least 90% of the time, it can get a little tedious. The busy periods are quite stressful and if you wish to further your career, you’ll have to study to get you accounting qualifications in your spare time. Cracking open the books isn’t easy when you’ve just finished work for the day!
Ready to take the next step to becoming an Accounts Payable? Check these Accounts Payable jobs and apply!
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Accounts Payable Career Path
Employers will expect you have to some experience in the field and all candidates will need to have at least a Bachelor’s Degree in Accounting, Business, Administration or Finance. Some employers may allow you to study for your qualifications while working if you show promise.
If you wish to be taken seriously in the field, attaining a professional qualification is a must. Look to the Chartered Accountants Ireland (ICAI) website to learn more about qualifications.
You can also receive the relevant Accounts Payable qualification with American organisation the Institute of Financial Operations (IFO) which offers certifications in Ireland and the UK. Examples include the Certified Accounts Payable Associate (CAPA) and Certified Accounts Payable Professional (CAPP) designations.
What Skills Do I Need To Succeed As An Accounts Payable?
If you wish to become a success as an accounts payable clerk, you’ll need to display the following traits:
- Excellent problem solving skills.
- Good IT skills.
- Honesty and trustworthiness.
- The ability to work well under pressure.
- Outstanding organisational and time management skills.
- A through and meticulous nature.
- The ability to consistently meet deadlines.
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