Overview
The Accounts Payable Executive plays a pivotal role in managing and overseeing the financial obligations of an organization. This position ensures that all vendor invoices and payment requests are processed accurately and in a timely manner which is essential for maintaining healthy vendor relationships and ensuring operational efficiency. The Accounts Payable Executive helps in safeguarding the company s assets by implementing strong internal controls and ensuring compliance with company policies and financial regulations. Collaborating closely with various departments including procurement and finance the Accounts Payable Executive also contributes to the monthly closing process and financial reporting. The accuracy and efficiency in the accounts payable processes orchestrated by this role are crucial in fostering trust and reliability across departments and with external stakeholders. This position demands strong attention to detail effective communication and the ability to work under tight deadlines all of which are integral to achieving the companys overall financial objectives.
Key Responsibilities
- Process and review vendor invoices for accuracy and compliance.
- Ensure timely payment for all purchases and services rendered.
- Manage the accounts payable ledger ensuring all entries are recorded accurately.
- Reconcile accounts payable accounts and resolve discrepancies promptly.
- Work closely with procurement teams to verify the authenticity of purchase orders.
- Handle vendor inquiries and issues regarding invoicing and payments.
- Assist in the preparation of the monthly closing process for accounts payable.
- Maintain organized records of all accounts payable transactions and documentation.
- Monitor and manage cash flow to ensure adequate liquidity for payments.
- Implement and maintain accounts payable policies and procedures.
- Participate in audits by providing necessary account information and documentation.
- Assist in the development and implementation of systems for tracking and managing vendor contracts.
- Prepare financial reports related to accounts payable as required.
- Support team members and assist in training new hires on accounts payable processes.
- Utilize accounting software for processing payments and maintaining financial records.
Required Qualifications
- Bachelor s degree in Finance Accounting or a related field.
- Proven experience as an Accounts Payable Executive or similar role.
- Familiarity with accounting software and databases.
- Strong knowledge of accounting principles and financial regulations.
- Proficiency in Microsoft Office Suite particularly Excel.
- Excellent organizational and time management skills.
- Demonstrated ability to handle confidential information with integrity.
- High level of accuracy and attention to detail.
- Ability to prioritize tasks and work under deadlines effectively.
- Effective communication skills both verbal and written.
- Problemsolving skills and ability to think critically.
- Ability to work cohesively in a team environment.
- Knowledge of tax regulations related to accounts payable.
- Prior experience in vendor management is an advantage.
- Certifications in accounting or finance are a plus.
- Strong customer service orientation towards vendors and internal teams.
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