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.

The roles and responsibilities of an Accounts Receivable Clerk are:

• Keeping records of payments and account status and gathering information from other departments to ensure that documents are accurate and complete and that accounts receivable ledgers and journals are up to date.
• Performing administrative and clerical tasks such as entering data, creating invoices, sending out invoice reminders, filing paperwork and contacting customers to discuss their accounts.
• Working with the collections department to review accounts, customer payments, and credit history and develop new or better repayment terms.

Major educational qualifications required for Accounts Payable Clerk are:

• Bachelor's degree in Accounting, Finance, or a related field, or an equivalent combination of education, training and experience.
• Accounting/finance experience.
• Demonstrate intermediate to advanced skills and knowledge of Excel, as well as other Microsoft Office applications.
• Strong analytical and problem-solving skills.
• Experience with accounting software.
• Excellent interpersonal skills to communicate effectively across the organization.
• Thorough knowledge of general ledger accounting and account reconciliation.
• Highly detail-oriented.

As an Accounts Payable Clerk, you have various career prospects in the finance and accounting field. Accounts Payable Clerks are responsible for processing and managing invoices, making payments to vendors, reconciling accounts, and ensuring timely and accurate payment of bills. Here are some career prospects and alternative job roles for Accounts Payable Clerks:

• Accounts Payable Specialist: With experience and expertise in handling accounts payable processes, you can advance to the role of an Accounts Payable Specialist. In this position, you may take on more complex tasks and responsibilities related to accounts payable management.
• Accounts Payable Supervisor: As you gain experience and demonstrate leadership abilities, you may have the opportunity to become an Accounts Payable Supervisor. In this role, you would oversee a team of Accounts Payable Clerks and ensure the smooth functioning of the accounts payable department.
• Accounting Assistant: Accounts Payable Clerks can transition to an Accounting Assistant role, where you may have broader responsibilities in various accounting functions, including accounts receivable, general ledger, and financial reporting.
• Financial Analyst: With additional education and training in finance and analysis, you may pursue a career as a Financial Analyst. In this role, you would be responsible for analyzing financial data, preparing reports, and providing insights to support financial decision-making.

The job of a 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.