Accounts Payable Manager job description
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What does a Accounts Payable Manager do?
The Accounts Payable Manager oversees the accounts payable team and ensures efficient processing of supplier invoices, payments, and expense reimbursements. This role is vital in maintaining the company's financial credibility and ensuring all financial obligations are met promptly and accurately.
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What are the Key Responsibilities of Accounts Payable Manager
- Manage the accounts payable function, including vendor payments and employee reimbursements.
- Ensure compliance with accounting laws and company policies in all payables processes.
- Develop and implement systems to improve efficiency and accuracy of the accounts payable process.
- Reconcile accounts payable records to general ledger to ensure accuracy.
- Manage accruals, prepayments, and accounts payable related journal entries.
- Monitor cash flow trends and prepare weekly cash forecasts.
- Resolve discrepancies and issues related to vendor payments promptly.
- Develop metrics to track performance and provide detailed analysis to senior management.
What are the Skills and Requirements for a Accounts Payable Manager?
- Strong knowledge of accounts payable principles and financial procedures.
- Proficiency with accounting software and ERP systems, such as SAP or Oracle.
- Excellent analytical and problem-solving skills.
- Strong leadership and team management abilities.
- Attention to detail and high level of accuracy.
- Ability to manage multiple priorities.
What are the KPIs to track for Accounts Payable Manager?
The Accounts Payable Manager's performance is evaluated based on the accuracy and timeliness of payments, adherence to budget, improvement in process efficiency, and maintenance of positive vendor relationships.
Timeliness of Payments
Maintain on-time payments to vendors to avoid late fees or penalties.
Process Efficiency
Enhance the efficiency of the accounts payable process through automation or other improvements.
Discrepancy Resolution
Quick resolution of any payment discrepancies or vendor issues.
Reports to
Controller or Chief Financial Officer
Collaborates with
Procurement, Finance Team
Leads
Accounts Payable Clerks
Are any specific tools or software required for the Accounts Payable Manager role?
- SAP
- Oracle
- QuickBooks
- Microsoft Excel
What is the qualification of Accounts Payable Manager?
Bachelor's degree in Accounting, Finance, or related field; 5+ years of experience in accounts payable, with at least 2 years in a supervisory role.
