Accounts Payable (A/P) Administrator

Accounts payable (A or P) administrators are responsible for the daily management of staff in the accounting department for a business. Their staff members can include accounts payable clerks and bookkeepers. They ensure the accuracy and timeliness of processes and payments. They are also responsible for ensuring compliance with federal and state government requirements. At times, they serve as a liaison for outside vendors, corresponding with them and responding to their inquiries.

Accounts payable managers prepare annual reporting and daily, weekly and monthly analysis and reconciliations. They may have to resolve discrepancies where they exist. They work closely with the purchasing departments, management, and the accounting departments they oversee. They typically work in an office environment on a normal Monday through Friday work week with standard business hours. They may, however, be required to work additional hours during peak accounting times, such as the end of year and tax seasons.

Accounts payable administrators may work in a wide variety of industries: They can be employed in the public or private sector, across all areas of government, as well as large and small private companies. Typically these companies require a minimum of a bachelor’s degree in accounting, business, finance, or a related field for an accounts payable manager. Several years of work experience is also usually required. Aside from those requirements, accounts payable administrators need to have a strong basis and understanding of accounting concepts, an advanced aptitude in spreadsheet software and excellent communication skills, both verbal and written.

As an Accounts Payable A/P Administrator in Australia with 3-6 years of experience, your main responsibilities include:

• Process invoices, verify accuracy, and ensure timely payments to vendors. Review and approve invoices, cross-checking for accuracy, and ensuring payments are made within the stipulated time frame.
• Reconcile accounts payable transactions with vendor statements. Compare vendor statements with internal records, identify discrepancies, and resolve any issues to maintain accurate financial records.
• Manage vendor relationships, including resolving payment-related inquiries and building strong partnerships. Address vendor inquiries, resolve payment discrepancies, and foster positive relationships to ensure smooth business transactions.
• Assist with month-end and year-end closing processes, including preparing financial reports and supporting audits.

For an Accounts Payable (A/P) Administrator, the following qualifications are required:

• Proficient knowledge of accounting principles and practices to accurately process invoices, expense reports, and payments.
• Attention to detail and strong numerical abilities to ensure accuracy in data entry and reconciliation of accounts.
• Familiarity with accounting software (eg, QuickBooks, SAP) and proficiency in using spreadsheets for data analysis and reporting.
• Strong problem-solving skills to identify and resolve discrepancies, including investigating and reconciling vendor statements and invoices.

The role of an Accounts Payable A/P Administrator is crucial for efficient financial operations and cash flow management. With 3-6 years of experience in Australia, professionals in this field can explore various alternative roles. Here are four options to consider:

• Senior Accountant: This role involves more extensive responsibilities, including financial reporting and regulatory compliance.
• Treasury Manager: A position focused on managing an organization's cash and liquidity requirements, including forecasting, risk management, and investment activities.
• Procurement Manager: This role entails managing supplier relationships, negotiating contracts, and overseeing purchasing processes.
• Financial Analyst: This position is dedicated to monitoring financial performance, developing forecasts, and providing insights to support strategic decision-making.

According to the latest data available with Google, the growth of the Accounts Payable (A/P) Administrator role in the Australian market is projected to be steady over the next 10 years. With increasing emphasis on financial management and compliance, the demand for A/P Administrators is expected to remain strong. This trend is supported by the rising number of job opportunities within the field, with several employment opportunities anticipated to be available in the future.