How to Be Accounts Payable Clerk - Job Description, Skills, and Interview Questions

The Accounts Payable Clerk is a vital role in any organization, responsible for ensuring timely and accurate payments to vendors and contractors. If the Accounts Payable Clerk fails to complete the job correctly, it can cause a number of issues including late payments, incorrect payments, and even vendor or contractor disputes. This can lead to increased costs for the organization, as well as a decrease in customer satisfaction and a potential loss of relationships with vendors and contractors. To avoid these issues, it is important to have a highly organized and detail-oriented Accounts Payable Clerk in charge of the accounts payable process.

Steps How to Become

1. Obtain a high school diploma or equivalent. While some employers may not require a formal education for an accounts payable clerk, having a high school diploma or equivalent can give you an edge over other applicants.
2. Receive on-the-job training. Most employers will require some type of on-the-job training for this position. During this training period, you will learn the job duties and expectations of the job.
3. Develop your knowledge of accounting software. Many employers now use specialized software to manage their accounts. You should familiarize yourself with the accounting software that your employer uses so you can do your job more efficiently.
4. Become familiar with accounting principles. A basic understanding of accounting principles can help you succeed in this role. Familiarize yourself with the fundamentals of accounting, such as debits and credits, and double-entry bookkeeping.
5. Obtain additional certifications. There are several certifications you can obtain to become a more attractive candidate for accounts payable clerk positions. These include becoming a Certified Payroll Professional (CPP) or obtaining a Certified Bookkeeper designation from the American Institute of Professional Bookkeepers (AIPB).
6. Gain experience in the field. When applying for jobs, include any volunteer or paid experience that you have in the field of accounting on your resume. This can include any internships or part-time jobs that you have had in bookkeeping or accounting.

In order to be an ideal and competent Accounts Payable Clerk, one must possess the right combination of technical knowledge and interpersonal skills. This includes a thorough understanding of accounting principles and processes, attention to detail, the ability to multitask, good organizational skills, and the capacity to communicate effectively with colleagues. Furthermore, a good working knowledge of computer systems, software applications, and ERP systems is beneficial.

Staying up to date with the latest industry trends, laws, and regulations is also crucial for success in this role. With these competencies in place, an Accounts Payable Clerk can ensure accuracy, efficiency, and compliance with all relevant laws and regulations.

You may want to check Accounts Payable Analyst, Chartered Accountant, and Audit Accountant for alternative.

Job Description

1. Process invoices and ensure accuracy of data.
2. Reconcile vendor statements, research and resolve discrepancies.
3. Process accounts payable checks and electronic payments.
4. Monitor accounts payable aging report and follow up on overdue items.
5. Maintain vendor accounts, including contact information and payment terms.
6. Communicate with vendors and respond to inquiries.
7. Prepare and process 1099 forms as required.
8. Prepare journal entries as required.
9. Assist with month-end closing processes.
10. File, scan and maintain all accounts payable documents.

Skills and Competencies to Have

1. Knowledge of accounting procedures
2. Understanding of Generally Accepted Accounting Principles (GAAP)
3. Ability to work in a fast-paced environment
4. Attention to detail and accuracy
5. Excellent organizational and problem-solving skills
6. Proficient in Microsoft Office Suite, including Excel
7. Experience with accounts payable software
8. Excellent written and verbal communication skills
9. Ability to manage time and prioritize tasks
10. Ability to identify and resolve discrepancies

The most important skill for an Accounts Payable Clerk is accuracy and attention to detail. This skill is essential for ensuring company financial records are kept up to date and accurate. Errors in accounts payable can cause serious financial problems and can lead to incorrect payments, late fees, and loss of business.

Therefore, a good Accounts Payable Clerk must be highly organized and able to pay close attention to detail when entering data, reconciling accounts, performing audits, and processing invoices. In addition, they must be knowledgeable of accounting principles and have strong communication skills in order to effectively interact with vendors, customers and other company personnel. Without these skills, an Accounts Payable Clerk would not be able to perform their job effectively.

Junior Accountant, Bank Accountant, and Junior Account Representative are related jobs you may like.

Frequent Interview Questions

• What experience do you have with Accounts Payable processing?
• What accounting software are you familiar with?
• How do you handle high volume accounts payable transactions?
• Describe a time when you had to analyze and correct a complex accounts payable issue?
• Describe your experience with auditing and reconciling accounts payable records?
• How do you ensure accuracy when entering data into accounts payable systems?
• Describe a time when you had to identify and resolve discrepancies in accounts payable?
• How do you handle vendor inquiries and disputes?
• Describe your approach to staying organized and meeting deadlines?
• What would you do if you encountered an unfamiliar Accounts Payable process?

Common Tools in Industry

1. Accounting Software. A type of computer software that helps to record and manage financial transactions, such as invoices and payments. (e. g. QuickBooks)
2. Spreadsheet Software. A type of computer software used to store and organize data in a tabular format. (e. g. Microsoft Excel)
3. Check Writing Software. A type of computer software used to generate checks and process payments. (e. g. CheckWriter)
4. Purchase Order System. A type of computer software used to manage the purchase orders for goods and services. (e. g. Ariba)
5. Credit Card Processing System. A type of computer software used to process credit card payments. (e. g. Stripe)
6. Accounts Payable Automation System. A type of computer software used to automate accounts payable processes, such as invoicing, payments, and reconciliation. (e. g. Coupa)

Professional Organizations to Know

1. Institute of Financial Operations
2. National Association of Purchasing and Accounts Payable Professionals
3. American Payroll Association
4. Association of Government Accountants
5. National Business Officers Association
6. The Institute of Chartered Accountants in England and Wales
7. American Institute of Certified Public Accountants
8. International Accounts Payable Professionals
9. Institute of Internal Auditors
10. National Contract Management Association

We also have Accounting Assistant, Trust Accountant, and Accounts Receivable Associate jobs reports.

Common Important Terms

1. Accounts Payable. The accounts payable department is responsible for managing the payment of goods and services purchased by a company.
2. Invoice. An invoice is a document sent from a seller to a buyer, detailing the goods or services provided and the amount due for payment.
3. Credit Note. A credit note is an accounting document that reduces the amount owed by a customer to a company.
4. Journal Entry. A journal entry is an accounting record used to record financial transactions in the general ledger.
5. Account Reconciliation. Account reconciliation is the process of comparing and verifying the accuracy of two sets of records.
6. Vendor Relations. Vendor relations is the process of managing relationships between a company and its suppliers.

Frequently Asked Questions

What is an Accounts Payable Clerk?

An Accounts Payable Clerk is a financial professional responsible for processing invoices and issuing payments to vendors.

What tasks does an Accounts Payable Clerk perform?

Tasks performed by an Accounts Payable Clerk include verifying invoices, entering data into accounting software, reconciling accounts, and issuing payments in a timely manner.

What qualifications are needed to become an Accounts Payable Clerk?

Qualifications to become an Accounts Payable Clerk include a high school diploma, knowledge of accounting principles, and experience using accounting software.

What type of environment does an Accounts Payable Clerk typically work in?

Accounts Payable Clerks typically work in an office environment and may be part of a larger accounting department.

What is the average salary for an Accounts Payable Clerk?

The average salary for an Accounts Payable Clerk is around $39,000 per year.

What are jobs related with Accounts Payable Clerk?

• Account Coordinator
• Accounts Receivable Analyst
• Accounts Payable Associate
• Senior Account Representative
• Accountant
• General Accountant
• Account Executive
• Junior Account Executive
• Property Accountant
• Accounting Analyst

Web Resources

• Accounts Payable Clerk - Johnson University johnsonu.edu
• Accounts Payable Clerk | Bryant & Stratton College www.bryantstratton.edu
• Accounts Payable - Clark University www.clarku.edu