Accounts Payable (A/P) Administrator

Accounts payable (A/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 with 0-3 years of experience in Canada, your main responsibilities include:

• Processing invoices and ensuring accurate coding, approvals, and timely payments. Verify and enter invoices into the accounting system, ensuring all necessary documentation is included.
• Reconciling vendor statements and resolving discrepancies. Review vendor statements and resolve any discrepancies or issues that may arise.
• Assisting with month-end closing and financial reporting. Prepare and reconcile accounts payable reports for month-end closing and financial reporting purposes.
• Maintaining accurate and up-to-date vendor records.

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 in Canada is crucial for ensuring smooth financial operations. If you have 0-3 years of experience in this field and want to explore alternative roles, here are four options to consider:

• Junior Accountant: A position that allows you to gain more experience in financial accounting, budgeting, and financial analysis.
• Billing Coordinator: A role focused on managing billing processes, invoicing clients, and resolving billing discrepancies.
• Financial Assistant: An opportunity to provide support to the finance department by assisting with financial data entry, preparing financial reports, and reconciling accounts.
• Payroll Administrator: A position that involves managing payroll processes, ensuring accurate and timely payments to employees, and maintaining payroll records.

According to recent data from Google, the projected growth of the Accounts Payable (A/P) Administrator role in Canada is positive. Market analysis indicates a consistent demand for this position with no signs of decline over the past 10 years. This trend is expected to continue, creating a promising job market for A/P Administrators in the future. The employment opportunities in this field are estimated to increase steadily, providing potential candidates with a stable and in-demand career option.