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Navigating the Accounts Payable Clerk Landscape in India with Step-by-Step Career Guide

Career Guide

Navigating the Accounts Payable Clerk Landscape in India with Step-by-Step Career Guide

12 June 2024

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Elevating Your Accounts Payable Clerk Career: An Inclusive Career Guide

Features

ALL LEVEL

Table of Contents

  • 1. Accounts Payable Clerk Career Guide: Introduction

  • 2. What is Accounts Payable Clerk?

  • 3. Roles and Responsibilities

  • 4. Prerequisites

  • 5. Essential Skills for Accounts Payable Clerk

  • 6. Industry Outlook

  • 7. Top Courses To Become Accounts Payable Clerk

  • 8. Summary

Elevating Your Accounts Payable Clerk Career: An Inclusive Career Guide

Accounts Payable Clerk Career Guide: Introduction

The career guide provides a detailed roadmap of Accounts Payable Clerk position, part of the Accounting & Finance industry within India that offers potential career growth.

What is Accounts Payable Clerk?

An Accounts Receivable Clerk prepares accounts receivable transactions and processes customer payments. They also prepare invoices according to company practices and submit them for management or customer approval.

Some titles for Accounts Receivable Clerk are:

  • Accounts Payable Specialist: The Accounts Payable Specialist is part of the accounting team and oversees a company's day-to-day financial transactions, including accounts payable, company credit card reconciliation, and other specialized tasks.
  • Accounting Clerk: An Accounting Clerk is a company's accounting department member responsible for assisting with clerical and administrative tasks.
  • Accounts Payable Clerk: An Accounts Payable clerk pays a company's invoices on time and ensures that the company is billed correctly. Accounts payable clerks typically receive, open, and log invoices and, when necessary, obtain approval to pay invoices from department heads.

Roles and Responsibilities

An Accounts Payable Clerk in India is responsible for a range of financial tasks related to processing and managing payments, invoices, and expenses. Their main responsibilities include:

  • Invoice Processing: Ensuring accurate coding, verifying invoices, and entering them into the system.
  • Payment Management: Preparing payment batches, coordinating with vendors, and processing payments within the given timeline.
  • Vendor Reconciliation: Regularly reviewing vendor accounts, resolving discrepancies, and maintaining good relations.
  • Expense Reporting: Managing employee expense claims, ensuring compliance with company policies.
  • Record Keeping: Maintaining organized and up-to-date financial records and documentation.
  • Financial Analysis: Assisting in financial reporting, budgeting, and forecasting processes.
  • Audit Support: Providing documentation and support during internal and external audits.
  • Communication: Collaborating with internal teams and external stakeholders to resolve payment-related issues efficiently.

Prerequisites

Prerequisite for a Accounts Payable Clerk

Educational Qualifications

Top Professional Certifications

Work Experience and Internship

Tools Knowledge required

Essential Skills for Accounts Payable Clerk

Essential skills that can help you prosper as Accounts Payable Clerk:

1.

Accounting

2.

Communicating

3.

Data Entry

4.

Managing Accounts

5.

Accounting

Salary Insights

Early Career

Mid Career

Late Career

Experienced

View Detailed Salary Insights

Industry Outlook

The job of an Accounts Payable Clerk is considered one of the safest jobs that pay well and has other added benefits. Millions of aspiring young candidates dream of getting a career in this field. In recent years, there have been 16,000 to 20,000 vacancies in private and state-owned banks. This makes it easy to understand that the competition in this area is too great.
IBPS (Institute of Banking Personnel Selection) offers lucrative salaries for Clerical Cadre posts along with various perks, incentives and benefits, which is why thousands of candidates rush to IBPS Clerks recruitment every year. Therefore, the current salary of an IBPS employee can range between Rs. 28,000 to Rs. 30,000 per month. Thus, Clerk/Clerical positions are one of the most demanded jobs in India.

Top Courses To Become Accounts Payable Clerk

If you are prepared to advance your learning journey towards becoming an Accounts Payable Clerk, you have arrived at the ideal destination! Outlined below are the leading courses that can facilitate a prosperous vocational journey for you

Summary

An Accounts Payable Clerk pays a company's invoices on time, ensures that the company is billed correctly, and is an important role in the accounting field in India. Other alternative roles for individuals with similar skill sets include Accounts Payable Specialist, Procurement Analyst, Cost Accountant, and Inventory Control Coordinator. These roles offer opportunities for growth and utilizing transferable skills in the accounting and finance industry. The job of an Accounts Payable Clerk is considered one of the safest jobs that pay well with added benefits. IBPS offers lucrative salaries for Clerical Cadre posts, which is why many candidates compete for IBPS Clerks recruitment every year making it one of the most demanded jobs in India.

Features

ALL LEVEL

Table of Contents

  • 1. Accounts Payable Clerk Career Guide: Introduction

  • 2. What is Accounts Payable Clerk?

  • 3. Roles and Responsibilities

  • 4. Prerequisites

  • 5. Essential Skills for Accounts Payable Clerk

  • 6. Industry Outlook

  • 7. Top Courses To Become Accounts Payable Clerk

  • 8. Summary

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