Accounts Payable
The duties of accounts payable depend on their work environment. Those who work in a large finance department may have a smaller remit, while others who work in smaller settings may have a wider scope of duties. Additional responsibilities may include producing payment forecasts for the management or liaising with suppliers regarding agreed payment profiles. In general, their key tasks include:
- Communicating with relevant suppliers to process invoicing or payment queries
- Attaching the correct documentation to invoices and reconciling purchase orders to invoices received
- Posting invoices and credit notes and ensuring they're coded correctly in the system
- Preparing monthly supplier statement reconciliations
- Dealing with external and internal queries by phone and email
- Preparing and processing supplier payments and ensuring that a senior Finance Manager has signed all payments off
- Ensuring that all accounts payable activities comply with relevant financial policies and procedures
- Investigating and resolving outstanding creditor items