Job Description

Job Purpose

The job purpose of an Accounts Payable Officer is to manage and oversee the payment of bills and invoices on behalf of a company or organization. It plays a crucial role in maintaining the financial health of an organization by ensuring that all financial obligations to vendors and suppliers are met accurately and in a timely manner. Effective management of accounts payable contributes to the smooth functioning of the business and helps maintain positive relationships with external partners.

Main Duties

Invoice Processing:

• Receive, review, and process invoices from vendors and suppliers.
• Ensure that invoices are accurate, complete, and comply with company policies.
• Verification:
• Verify the accuracy of invoices by matching them with purchase orders, delivery receipts, or other supporting documentation.
• Confirm that goods or services were received before processing payments.

Data Entry and Coding:

• Enter invoice details into the accounting system accurately.
• Assign appropriate codes to expenses for proper tracking and reporting.
• Payment Processing:
• Initiate and process payments to vendors in accordance with payment terms and company policies.

Record Keeping:

• Maintain organized and up-to-date records of all accounts payable transactions.
• Keep track of payment due
• Approval Workflow:
• Ensure that invoices go through the necessary approval processes within the organization before payment is made.

Vendor Relations:

• Communicate with vendors to address inquiries, resolve discrepancies, and negotiate payment terms.
• Build and maintain positive relationships with vendors to facilitate smooth business transactions.

Compliance:

• Adhere to relevant laws, regulations, and company policies governing accounts payable processes.
• Stay informed about changes in regulations that may impact payment procedures.

Qualifications:

• Bachelors degree in Accountancy, Finance, or a related field.
• 2-3 years of experience in Accounts Payable, General Accounting, or Finance operations.
• Strong knowledge of invoice processing, payment cycles, and reconciliation procedures.
• Proficiency in accounting systems/ERPs (Netsuite, SAP, or similar) and MS Excel.
• High attention to detail and accuracy in handling financial data.
• Strong organizational and time management skills to meet payment deadlines.
• Ability to analyze discrepancies and resolve vendor or invoice-related issues.
• Good communication and interpersonal skills to coordinate with internal teams and maintain vendor relationships.
• Familiarity with compliance requirements, internal controls, and best practices in accounts payable.