Accounts Payable Processor

Accounts payable processors are responsible for managing and reviewing outgoing payments made by their organization. Their primary duties are to ensure orders and invoices are reconciled by checking that all items are received and paid for. This involves working with vendors to determine invoice status, making payments for (or returning) non-invoiced items, and ensuring the delivery of missing items. Accounts payable processors make payments and keep an accounts payable journal in line with standard accounting practices. They work closely with other departments such as procurement and receiving to investigate shipment and invoice information to resolve disputes with vendors. Some accounts payable processors may also manage travel reimbursements and other internal payments to organization employees.

Accounts payable processors generally work full time in an office environment. The majority of accounts payable processors’ time is spent analyzing invoices and payment processing information, as well as working with vendors to resolve payment issues. These processors work with other financial departments - as well as shipping and receiving - in the course of their duties. In larger companies, accounts payable processors work with a team of accounts payable personnel; in smaller organizations, they may serve as the primary handler of accounts payable under the supervision of a senior accounting manager.

A high school diploma or equivalent is required for this position. An associate’s degree in finance or a related field is needed for some positions. Proficiency in basic office software such as Microsoft Office products are needed, as well as math skills.

As an Accounts Payable Processor with 3-6 years of experience in Australia, your main responsibilities include:

• Process and review invoices, ensuring accuracy and adherence to company policies and procedures. Verify invoice details, reconcile discrepancies, and obtain necessary approvals.
• Maintain vendor records and communicate with vendors regarding payment inquiries and issues. Manage vendor relationships, resolve payment disputes, and provide timely responses.
• Prepare and process payments, including checks, electronic transfers, and wire transfers. Ensure payments are made in a timely manner and accurately reflect outstanding balances.
• Reconcile accounts payable transactions and resolve any discrepancies with general ledger accounts.

For an Accounts Payable Processor, the following qualifications are required:

• Proficiency in financial systems and software to accurately process and reconcile invoices, purchase orders, and payment transactions.
• Attention to detail to review invoices for accuracy, identifying discrepancies, and resolving payment discrepancies with vendors.
• Knowledge of accounts payable procedures, including invoice coding, approval workflows, and payment terms, to ensure adherence to financial policies and regulations.
• Strong problem-solving skills to resolve issues related to duplicate invoices, missing documentation, and payment errors in a timely and efficient manner.

The role of an Accounts Payable Processor is crucial for efficient financial operations and cash flow management. With 3-6 years of experience in the Australian finance industry, individuals in this role can consider exploring alternative positions. Here are four options to consider:

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

According to recent data from Google, the accounts payable processor role in Australia is projected to experience significant growth in the market. Over the past 10 years, this job role has consistently shown positive growth trends, indicating a stable and promising future. With increasing demands for effective financial management, there is expected to be a surge in employment opportunities for accounts payable processors in the coming years. The exact number of future employment opportunities is not mentioned in the available data, but the overall outlook for this position appears to be highly favorable.