Accounts Payable
Job Description
An Accounts Payable Officer is responsible for maintaining a record of amounts owed to creditors or suppliers and processing payments for good or services received. Outstanding payables are considered liabilities. The Accounts Payable Officer is responsible for recording and maintaining business financial records. They ensure a company’s outgoings are monitored, recorded and paid by the due date. Payments are recorded in the company’s books and in relevant financial and record keeping software.
An Accounts Payable Officer responds to vendor enquiries, processes payments and invoices, reconciles statements and general ledger accounts, supports month end processes, reports on aged payables, undertakes cash flow management, matches invoices and resolves invoice issues, works closely with other departments and updates relevant databases. Their role at a company and the extent of their duties, varies by the size and nature of the business.
Qualifications
In some small businesses the role of an Accounts Payable Officer may be incorporated alongside other accounts and administrative duties. However, for larger and more structured organisations it may assist you to gain the following certifications and qualifications:
- BAS Agent Registration
- Certificate IV in Bookkeeping
- Certificate IV in Accounting
Most roles will require you to have at least 2-5 years experience and relevant experience with the finance software used by that organisation. You may be undertaking tertiary qualifications with a longer term goal to pursue a career in Accounting.
Attributes
- Accountability
- Accuracy
- Analytical
- Attention to Detail
- Autonomy
- Communication
- Ethical
- Finance Knowledge
- Industry Expertise
- Integrity
- Interpersonal
- Organisational
- Reliable
- Self-Motivation
- Team Player
- Trustworthy
Key Skills
- Account Reconciliation
- Accounting Practices
- Accounting Software
- Accounts Payable
- Accounts Receivable
- Administration
- Bank Reconcilations
- Budgeting
- Compliance Software
- Credit Card Processing
- Database Reporting Software
- Data Analysis
- Finance
- Financial Reporting
- Financial Statements
- Information Technology
- Legislation
- Management
- Payment Processing
- Policies and Procedures
- Professional Development
- Spreadsheet Knowledge
- Systems Analysis
- Team Work
Future Prospects
You may like to think about moving on from this career, some transferable skills can be utilised in roles such as;
- Chief Financial Officer (CFO)
- Financial Controller
- Management Accountant
- Specialised Accounting Roles
- Accountant
- Assistant Accountant
- Graduate Accountant
- Assistant Accountant
- Bookkeeper
- Accounts Payable Officer
- Accounts Receivable Officer
- Payroll Officer
