Position Title: Accounts Payable Specialist

Department: Accounting and Finance

Position Summary:

Responsible for managing and executing the organization's accounts payable functions, including processing invoices, reconciling statements and ensuring timely payments to vendors. Essential in maintaining accurate financial records, optimizing cash flow and building strong relationships with vendors. Works within the accounting and finance department and collaborates closely with other teams including project managers. 

Responsibilities and Tasks:

Invoice Management:

• Review, verify, and process vendor invoices for accuracy and proper authorization.
• Obtain approvals of invoices from appropriate project managers and directors.
• Enter invoice data into the accounting system for payment processing.

Payment Processing:

• Prepare payments for processing and obtain payment approval from supervisor.
• Print approved payments, prepare and process distribution/mailing.
• Monitor payment schedules to ensure timely disbursements and avoid late fees.
• Address payment inquiries from vendors and internal stakeholders.

Reconciliation and Reporting:

• Reconcile vendor statements and resolve outstanding balances or discrepancies.
• Assist in month-end and year-end closing by reconciling accounts payable records.
• Generate and maintain accounts payable aging reports and payment activity summaries.

Vendor and Internal Communication:

• Serve as the primary contact for vendor inquiries regarding payments and account status. Coordinate with project managers and directors.
• Build and maintain positive relationships with vendors and internal teams.

Compliance and Documentation:

• Maintain organized and accurate records of invoices, payments, and correspondence.
• Ensure compliance with company policies, financial regulations, and tax requirements (e.g., 1099 reporting).
• Support internal and external audits by providing requested documentation and information.

Process Improvement:

• Identify opportunities to improve accounts payable processes and implement best practices.
• Utilize AP automation tools to enhance efficiency and accuracy.
• Stay updated on industry trends and new technologies in accounts payable management.

Position Reports To: Corporate Controller, Chief Financial Officer (CFO)

Qualifications:

Education:

• High school diploma or equivalent required
• Bachelor’s degree in Accounting, Finance or a related field preferred

Required Knowledge:

• Strong understanding of accounting principles and practices, particularly in accounts payable management
• Familiarity with AP automation tools and electronic payment platforms
• Advanced Microsoft Excel skills, including data analysis and pivot tables
• Knowledge of accounts payable workflows, tax compliance (e.g., 1099), and vendor management
• Knowledge of credit and collection laws and regulations is beneficial

Experience Required:

• 2–4 years of experience in accounts receivable, billing or general accounting
• Experience with ERP systems and accounting software is preferred

Skills and Abilities:

• Excellent communication and interpersonal skills for effective interaction with customers and internal stakeholders
• Attention to detail and accuracy in processing invoices and payments
• Excellent organizational and time management skills
• Ability to work independently and collaboratively in a team environment
• Ability to prioritize tasks, manage workload efficiently and meet deadlines in a fast-paced environment