How to Become an Accounts Payable Officer(1 courses)
What do I need to study to become an Accounts Payable Officer?
Take the next step in your accounting career with this online Diploma of Accounting (FNS50217) from Monarch Institute and achieve your goals.View course information
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Definition of Accounts Payable Officer
The main role of an Accounts Payable Officer is to make certain that their companyâ€™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 organisationâ€™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 are the responsibilities of an Accounts Payable Officer ?
- 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.
Career Outlook for Accounts Payable Officer
The average age of people working as is 43 with 17.00% of them being male. 62.90% of are employed full-time and they typically work around 36.6 hours per week.
Unemployment is average and, with A Bachelor Degree or higher, the average Community Worker can earn around $1,071 per week Before Tax. In 2015 there were 137,400 working and the future growth of the profession is predicted to be stable, with numbers around 133,900 in 2020.