What does Accounts Payable Officer mean?
The main role of an Accounts Payable Officer is to make certain that their company’s invoices are paid on schedule and that they are not being overcharged for any goods or services.
Administering the outgoing payments ledger, the Accounts Payable Officer ensures that all expenditures are accurately recorded and upholds the organisation’s financial control procedures. They also manage many internal payments such as staff reimbursement, petty cash and tax exemption certificates.
In some cases the Accounts Payable Officer also serves in the accounts receivable role, sending and following up invoices, collecting and processing payments, and handling issues such as defaulting payments and disputes.
What is an Accounts Payable Officer's role?
- Reviewing and processing invoices from vendors, suppliers and other external sources.
- Organising and dispatching payments and payment advices.
- Adhering to payment and reporting schedules and deadlines.
- Reconciling accounts and managing the outgoing payments ledger.
- Identifying and reporting any irregularities or discrepancies.
- Issuing and tracking internal reimbursements, tax exemption certificates and petty cash.
- Liaising with vendors and creditors regarding delayed payments and other issues.
Fast Facts - Accounts Payable Officer
- Average Age: 43
- Male Share: 17.00%
- Full-Time Share: 62.90%
- Average Hours: 36.6 hours per week
- Level of Study: A Certificate II or III
- Average Salary: $1,071 per week Before Tax
- Unemployment Levels: average
- 2015 Employment Numbers: 137,400
- Projected Growth: stable
- 2020 Employment Numbers: 133,900