Accounts Payable Manager

Accounts payable managers handle all the bills and invoices that a company must pay. As such, they must have very strong math and accounting skills. A small mistake can end up costing the company thousands of dollars, so great attention to detail is also essential. In addition, accounts payable managers must be organized and must have excellent computer skills --particularly with Excel and other accounting software.

Accounts payable managers will often oversee a team of accountants to ensure that they are following protocol. They also will often interview, hire and train their team members, and will provide assistance and help troubleshoot when problems arise. Accounts payable managers may also work with a company's clients more, so good interpersonal skills are usually also a prerequisite for this type of position. In addition, they usually report to (and provide reports for) a company's executives.

Since accounts payable managers play a large role in following the day-to-day movement of the company’s money, they must be trustworthy, capable and experienced. A bachelor's degree in accounting is usually the minimum educational requirement in addition to a good amount of work experience. Lastly, accounts payable managers must handle stress well and not be afraid to act as a leader or take responsibility for important matters.

As an Accounts Payable Manager with 6-9 years of experience in Singapore, your main responsibilities include:

• Overseeing the accounts payable process, ensuring accurate and timely processing of invoices, expense reports, and payments. Streamlining accounts payable procedures to enhance efficiency and reduce errors.
• Managing vendor relationships, resolving account discrepancies, and negotiating payment terms. Performing regular vendor audits to maintain strong partnerships and optimize supplier relationships.
• Ensuring compliance with company policies, accounting principles, and local regulations. Conducting regular internal audits to mitigate financial risks and maintain adherence to regulatory requirements.
• Supervising a team of accounts payable professionals, providing guidance, training, and performance evaluations.

For an Accounts Payable Manager job role, the following qualifications are required:

• Extensive knowledge of accounting principles and practices to manage the accounts payable function effectively, ensuring compliance with financial regulations and company policies.
• Strong attention to detail and accuracy to review and approve invoices, expense reports, and payment requests, minimizing errors and discrepancies.
• Proficient in using accounting software and tools to streamline accounts payable processes, perform reconciliations, and generate financial reports.
• Excellent problem-solving skills to investigate and resolve any issues or disputes related to invoices, payments, or vendor accounts, maintaining strong vendor relationships.

The role of an Accounts Payable Manager in Singapore with 6-9 years of experience is vital in ensuring smooth operations and cash flow management. For professionals seeking alternative roles within the finance industry in Asia, here are following options to consider:

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

The role of Accounts Payable Manager in Singapore is expected to witness significant growth in the market. Analysis over the past 10 years indicates a consistent increase in the demand for this position. With the expanding economy and increasing business activities, more companies are likely to require professionals in this field. As a result, there will be a substantial number of employment opportunities available in the future. This projection is supported by recent data points from Google.