Main Responsibilities and Required Skills for an Accounts Payable Assistant
An Accounts Payable Assistant is a professional who plays a vital role in managing the financial obligations of a company. They are responsible for ensuring timely and accurate processing of payments to vendors and suppliers, as well as maintaining records related to accounts payable. In this blog post, we will describe the primary responsibilities and the most in-demand hard and soft skills for Accounts Payable Assistants.
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Main Responsibilities of an Accounts Payable Assistant
The following list describes the typical responsibilities of an Accounts Payable Assistant:
Administer
Administer purchase order system.
Allocate
Allocate payments into the suppliers accounts.
Assign
Assign work, solve workload problems and ensure high productivity levels.
Assist with
Assist AP with voucher processing, issuing payments, document retention / management.
Assist in preparing self-billing invoices.
Assist in resolution of problems of the monthly Debit Balance report.
Assist internal departments with questions or concerns.
Assist in the implementation and improvement of accounts payable processes.
Assist in the month-end and year-end closing processes.
Assist in the preparation and filing of tax forms related to accounts payable.
Assist in the preparation of financial reports related to accounts payable.
Assist in the reconciliation of accounts payable to general ledger accounts.
Assist in the training and onboarding of new accounts payable staff.
Assist in various data entry projects completed in a timely and accurate manner.
Assist with accounts payable and bank related audit queries.
Assist with filing and document management for the department.
Assist with filing of invoices and daily reports.
Assist with journal postings at month end as required.
Assist with other AP assignments when requested.
Assist with processing invoices processed in Ariba system.
Assist with reconciliation & query resolution of creditor ledgers.
Assist with the processing of supplier invoices in an accurate and timely manner.
Assist with the review and payment of staff expenses.
Assist with training new procedures, policies and practices to employees and plant personnel.
Assist with weekly / bi weekly supplier payments in various currencies.
Audit
Audit plant and Corporate invoices to ensure compliance with company policies.
Build
Build and maintain supplier / vendor relationships.
Check
Check and reconcile supplier invoices by verifying transaction information.
Code
Code and prep credit cards for reconciliation.
Code and prep expense reports for reconciliation and payment.
Code invoices and arrange for manager approval.
Code operational invoices to G / L accounts and cost centers by analyzing invoice / expense reports.
Collaborate with
Collaborate with the finance team to ensure accurate financial reporting.
Collaborate with the purchasing department to ensure accurate recording of purchases.
Collect
Collect proper documentation to set up new supplier such as W9.
Complete
Complete all work in a timely manner, without sacrificing quality.
Complete payment runs and process international payments.
Complete supplier statement reconciliations.
Conduct
Conduct regular reviews of vendor contracts and terms.
Coordinate
Coordinate with internal departments to obtain necessary approvals for payments.
Cover
Cover during staff absences.
Create
Create and modify documents using excel.
Determine
Determine and calculate sales or use taxes on goods and services invoiced.
Disburse
Disburse and record EFT debit transactions.
Download
Download invoices from various vendors.
Draft
Draft reminder letters in relation to outstanding rent and service charge balances.
Ensure
Ensure all documents are filed in a timely and efficient manner.
Ensure all key supplier accounts are kept up to date by reconciling supplier statements.
Ensure all payments are processed to the correct suppliers.
Ensure compliance with accounting policies, tax regulations and internal policies.
Ensure compliance with company policies and procedures for payment processing.
Facilitate
Facilitate resolution through research and document retrieval.
Follow
Follow safety precautions and procedures.
Generate
Generate and analyze reports to identify trends or potential cost-saving opportunities.
Handle
Handle all vendor correspondence including phone, written, and email communication.
Handle all vendor correspondence including phone, written, and email communication as needed.
Identify
Identify and correct discrepancies prior to processing.
Identify opportunities for process automation and contribute to system enhancements.
Initiate
Initiate corrective action per Company policies.
Investigate
Investigate GRNI report, providing clear understanding of aged items.
Issue
Issue remittances at the point the payment run is approved.
Lead
Lead the AP team to fulfil customer expectations.
Liaise with
Liaise closely with Onshore Finance team and other stakeholders.
Liaise with internal staff to get invoices approved.
Maintain
Maintain accounting ledgers by verifying, posting and proofing account transactions.
Maintain accurate records of accounts payable transactions.
Maintain a general filing system.
Maintain and record supplier's information data.
Maintain and update vendor and payee information as needed.
Maintain finance process documentation, as appropriate.
Maintain financial security by following internal accounting controls.
Maintain merchandise vendor accounts and payments to them.
Maintain organized and up-to-date filing systems for accounts payable documents.
Maintain spreadsheets, purchases ledgers and journals.
Maintain strong relationships with vendors and foster positive communication.
Maintain updated supplier files and file numbers.
Manage
Manage and create recurrent invoices in Gypsilon.
Manage and lead weekly client calls providing weekly notes to the team.
Manage and reconcile the tenant deposit accounts.
Manage cash requirements, including prioritisation of supplier payments.
Manage own portfolio of suppliers.
Manage the weekly BACS Payment.
Match
Match manager signature to Authorities Index.
Monitor
Monitor and maintain cash and petty cash balances.
Monitor and manage vendor payment schedules.
Monitor and reconcile petty cash transactions.
Monitor and track purchase orders and receipts for accuracy and completeness.
Monitor leases and recurring transactions and setup payment schedules.
Organise
Organise funding with clients and work with Treasury to release payment files.
Participate in
Participate in ad hoc projects as and when required.
Participate in internal and external audits related to accounts payable.
Perform
Perform and assist with ad-hoc queries as required in a timely manner.
Perform regular supplier statement reconciliations.
Perform related clerical duties, maintaining filing and record systems, faxing and photocopying.
Perform supplier statement reconciliations.
Perform the day to day processing of accounts payable transactions.
Perform weekly Bank Reconciliations for all company bank accounts.
Prepare
Prepare and analyze aging reports for outstanding payables.
Prepare and distribute checks or electronic payments to vendors.
Prepare and distributes reports to leadership group highlighting out-of-policy concerns.
Prepare and process payment batches.
Prepare batches of invoices for data entry.
Prepare invoices and compile back up for monthly recharge invoice.
Prepare legal expense report for London HQ.
Prepare payment runs on a bi-monthly basis for review and approval by senior management.
Prepare payments and upload them to the banking system.
Prepare recurring journal entries.
Prepare regular reports on the status of payments and expected cash outflows on a monthly basis.
Prepare the monthly, quarterly, and annual VAT returns.
Prepare the monthly, quarterly and annual VAT returns for Germany.
Prepare the payment run on a weekly basis.
Process
Process backup reports after data entry.
Process employees personal expenses ensuring they are within company policy.
Process supplier invoices onto AP ledger.
Process the weekly payroll for hourly paid employees.
Process uploads using the SAP Upload template and verify accuracy.
Protect
Protect the organization's value by keeping information confidential.
Provide
Provide Adhoc support as required.
Provide administrative support to the Aviation team to ensure their invoices are paid promptly.
Provide assistance to department administrators by answering inquiries about expenses.
Provide assistance with entering customer payments into financial system.
Provide assistance with supplier payment runs.
Provide confidentiality towards all A / P data.
Provide cover for other Accounts payable team members.
Provide information for month-end accruals for Accounts Payable.
Provide support during the budgeting process by providing relevant accounts payable data.
Raise
Raise POs for Global Shared Service Manager company.
Receive
Receive and process invoices for payment.
Receive and verify a high volume of invoices.
Receive, upload, and code incoming multi-currency vendor bills for payment.
Reconcile
Reconcile processed work by verifying entries and comparing system reports to balances.
Reconcile & review Serengeti file against invoices and provide upload file for processing.
Record
Record all the payments and send weekly remittances.
Record and disburse T&E reports, reconcile and pay credit card statements.
Research
Research invoices, reconcile vendor statements and resolve discrepancies.
Research, prepare, and input invoices.
Research, prepare, and input invoices into SAP.
Research vendor inquiries and processes Voids and Stop Payments, when necessary.
Resolve
Resolve account discrepancies and supplier's enquiries by investigating documentation.
Resolve all supplier, landlord, and client queries.
Resolve discrepancies and answer inquires through direct contact with vendors.
Resolve discrepancies between vendor's invoice and receiving records.
Resolve discrepancies or issues related to invoices or payments.
Respond to
Respond to all payment / invoice queries from staff and suppliers.
Respond to customer inquiries, maintain good customer relations and solve problems.
Respond to supplier queries in a timely manner.
Respond to supplier queries received both by email and phone in a timely manners.
Respond to vendor inquiries and resolve payment-related concerns.
Review
Review ageing on a regular basis and provide updates upon request to finance team.
Review and investigation of any unallocated cash.
Review and reconcile vendor statements.
Review and verify London staff expense claims.
Review AP report regularly to identify debit balances and allocation of payments.
Review employee expenses and process accompanying reports.
Review of aged creditor reports.
Review, posting and payment of supplier invoices.
Review supplier invoices for authorization and duplication.
Route
Route invoices for approvals based on company policy and responsibility for charges.
Run
Run basic A / P reports as needed.
Run fortnightly payment runs and upload into the banking system.
Run the Aged Creditors on a weekly basis.
Schedule
Schedule and prepare disbursements.
Set-up
Set-up new suppliers on the Finance system operating within the agreed internal controls.
Set-up payments for authorisation.
Set-up weekly payment runs for all allocated countries and ensure payments are processed on time.
Stay updated with
Stay updated with changes in accounting regulations and compliance requirements.
Suggest
Suggest opportunities to automate processes.
Support
Support department and staff in project based work.
Support position within the Finance Department and will report to the Director of Finance.
Support the Finance team with any ad-hoc requirements.
Update
Update job knowledge by participating in educational opportunities and updating desk instructions.
Verify
Verify and process invoices for payment.
Verify that invoices match what is in the booking system.
Verify that transactions comply with the financial policies and procedures.
Verify vendor accounts by reconciling monthly statements.
Work
Work to deadlines set by Seniors and the Management Team.
Work with international clients and develop multi-currency accounting skills.
Most In-demand Hard Skills
The following list describes the most required technical skills of an Accounts Payable Assistant:
Proficiency in accounting software (e.g., SAP, Oracle, or QuickBooks).
Knowledge of accounts payable processes and procedures.
Familiarity with electronic payment systems and online banking platforms.
Ability to accurately process and enter large volumes of financial data.
Understanding of financial statements and their relation to accounts payable.
Experience in using spreadsheet software for data analysis (e.g., Microsoft Excel).
Familiarity with invoice scanning and optical character recognition (OCR) tools.
Knowledge of tax regulations related to accounts payable.
Ability to reconcile vendor statements and resolve discrepancies.
Understanding of internal controls and segregation of duties in accounts payable.
Proficiency in using document management systems for invoice processing.
Knowledge of purchase order systems and their integration with accounts payable.
Ability to perform financial analysis and generate relevant reports.
Familiarity with international payment processes and foreign currency transactions.
Understanding of financial audits and their impact on accounts payable procedures.
Experience with automated accounts payable software and workflow systems.
Ability to navigate and utilize online vendor portals for invoice processing.
Knowledge of data security and confidentiality measures related to accounts payable.
Understanding of sales tax calculations and regulations.
Proficiency in using enterprise resource planning systems (ERPs) for accounts payable management.
Most In-demand Soft Skills
The following list describes the most required soft skills of an Accounts Payable Assistant:
Strong attention to detail and accuracy in handling financial data.
Excellent organizational skills to manage multiple tasks and deadlines.
Effective communication skills to interact with vendors and internal stakeholders.
Ability to work collaboratively in a team environment.
Analytical thinking and problem-solving abilities to resolve payment issues.
High level of integrity and ethical behavior in handling financial transactions.
Adaptability and flexibility to navigate changes in processes or systems.
Time management skills to prioritize tasks and meet payment deadlines.
Strong interpersonal skills for building positive relationships with vendors.
Customer service orientation to address inquiries and concerns professionally.
Critical thinking skills to identify process improvement opportunities.
Resilience and composure when dealing with high-volume and fast-paced environments.
Ability to work independently with minimal supervision.
Strong numerical and mathematical skills for accurate calculations.
Attention to detail in reviewing and verifying invoices and payment documents.
Problem-solving skills to identify and resolve discrepancies in accounts payable.
Ability to maintain confidentiality and handle sensitive financial information.
Positive attitude and willingness to learn and adapt to new technologies or tools.
Effective teamwork and collaboration to achieve departmental goals.
Strong work ethic and commitment to delivering high-quality results.
Conclusion
An Accounts Payable Assistant holds significant responsibilities in ensuring accurate and timely payment processing, maintaining vendor relationships, and adhering to financial regulations. Alongside the required technical skills in accounts payable processes and systems, possessing essential soft skills is crucial for success in this role. By combining technical expertise with strong communication, problem-solving, and organizational skills, Accounts Payable Assistants contribute to the smooth financial operations of an organization.
