India
Accounts Payable Coordinator Job Description
Job Title: Accounts Payable Coordinator
Overview/Summary of the role:
The Accounts Payable Coordinator is responsible for overseeing the processing of incoming invoices and payments to ensure accurate and timely payment to vendors, suppliers, and contractors. They work closely with other departments within the company to ensure expenses are properly recorded and accounted for. The ideal candidate will have excellent attention to detail, strong organization skills, and the ability to manage multiple tasks and deadlines simultaneously.
Responsibilities and Duties:
- Process incoming invoices and verify accuracy
- Match invoices to purchase orders and ensure proper approvals are obtained for payment
- Enter invoices into the accounting system and code expenses correctly
- Communicate with vendors regarding payment status and resolve any discrepancies
- Prepare and execute payments to vendors via check or electronic transfer
- Assist with month-end closing processes and reconciliations
- Maintain accurate and up-to-date records of all accounts payable transactions
- Assist with other accounting tasks and projects as needed
Qualifications and Skills:
Hard skills:
- Proficiency in Microsoft Excel and accounting software
- Familiarity with accounts payable and general accounting practices
- Strong analytical and problem-solving skills
- Ability to maintain confidential information and comply with company policies and procedures
- Knowledge of tax requirements related to accounts payable
Soft skills:
- Excellent communication skills, both verbal and written
- Strong attention to detail and ability to catch errors and discrepancies
- Ability to work independently and collaboratively in a team environment
- Strong organizational skills and the ability to prioritize tasks effectively
- Customer service-oriented with a positive and professional attitude
Education and Experience:
Required:
- High school diploma or equivalent
- 2+ years of experience in accounts payable or related field
- Demonstrated experience with accounts payable processes and software
Preferred:
- Associate's or bachelor's degree in accounting or related field
- Familiarity with ERP systems (e.g. SAP, Oracle, NetSuite)
- Experience in a manufacturing or similar industry with inventory managementLicensing:
There are no specific licensing requirements for becoming an Accounts Payable Coordinator. However, having a certification in accounting, finance or related field can prove beneficial when applying for jobs.
Typical Employers:
Accounts Payable Coordinators can find job opportunities in various organizations such as small businesses, multinational corporations, government agencies, and non-profit organizations.
Work Environment:
Accounts Payable Coordinators typically work in office environments, in close proximity to other accounting and finance professionals. The role involves sitting for extended periods, working on a computer and communicating with vendors and coworkers.
Career Pathways:
To become an Accounts Payable Coordinator, one typically needs a bachelor's degree in accounting, finance, or related fields. This position often serves as a starting point to move up in the accounting and finance fields. Career pathways for Accounts Payable Coordinators may include advancing to positions such as Accounts Payable Manager, Accounting Manager, Financial Analyst, or Controller.
Job Growth Trend:
According to the U.S. Bureau of Labor Statistics, employment of accounting and auditing professionals, including Accounts Payable Coordinators, is projected to grow 4% from 2019 to 2029, which is about as fast as the average for all occupations. The global job outlook is also positive for Accounts Payable Coordinators, with a growing demand for finance and accounting professionals across many industries.Career Satisfaction:
Accounts Payable Coordinators generally report high job satisfaction as they have the opportunity to work on a variety of tasks and projects, interact with various stakeholders, and take ownership of their role in contributing to the organization's financial success.
Related Job Positions:
Some related job positions to Accounts Payable Coordinator include: Accounts Payable Specialist, Accountant, Financial Analyst, Bookkeeper, Accounts Receivable Coordinator, and Financial Manager.
Connected People:
Accounts Payable Coordinators interact with various stakeholders within the organization such as department heads, budget directors, purchasing managers, and vendors.
Average Salary (USA, UK, Germany, India, Brazil):
In the USA, the average salary for an Accounts Payable Coordinator is $46,000 per year. In the UK, the average salary is £23,000 per year. In Germany, the average salary is €40,000 per year. In India, the average salary is ₹288,000 per year. In Brazil, the average salary is R$45,000 per year.
Benefits Package:
Benefits package for Accounts Payable Coordinators varies depending on the organization, but it typically includes health insurance, retirement plans, paid time off, and bonuses or profit-sharing opportunities.
Schedule and Hours Required:
Accounts Payable Coordinators typically work full-time during regular business hours, with occasional overtime required during peak periods such as month-end or year-end close. Remote work or flexible scheduling is becoming more common in this role as companies adopt more flexible work policies.Level of Autonomy:
An Accounts Payable Coordinator will have a moderate to high level of autonomy in their role. They will be responsible for managing their workload, prioritizing tasks, and ensuring that payments are made accurately and on time. They will also be required to handle disputes and discrepancies, and will need to work with other departments, vendors, and suppliers to resolve any issues. The Accounts Payable Coordinator will be expected to exercise judgment and make decisions on payment approvals within established policies, procedures, and limits.
Opportunities for Professional Development and Advancement:
There are numerous opportunities for professional development and advancement for an Accounts Payable Coordinator. They can pursue additional education or training in accounting, finance, or related fields. They can also work towards professional certifications such as Certified Accounts Payable Professional (CAPP) or Certified Management Accountant (CMA). Opportunities for advancement may include promotions to higher-level roles such as Accounts Payable Manager or Controller.
Specialized Skills or Knowledge Required:
An Accounts Payable Coordinator should have a strong working knowledge of accounting principles and practices, and be able to interpret and analyze financial data. They should have excellent organizational and time-management skills, be detail-oriented, and have strong communication and interpersonal skills. Proficiency in basic computer software such as Microsoft Excel and Word is essential, as well as experience with specialized accounting software and enterprise resource planning (ERP) systems.
Physical Demands:
An Accounts Payable Coordinator typically works in an office environment and may spend long hours sitting at a desk working on a computer. They may need to lift boxes or files occasionally, but physical demands are generally minimal.
Tools and Technologies Used:
An Accounts Payable Coordinator will use a variety of tools and technologies in their role, including accounting software such as QuickBooks or Sage, ERP systems such as SAP or Oracle, spreadsheets, and databases. They may also use scanners, fax machines, and other office equipment as needed. Strong proficiency in these tools and technologies is essential for success in this role.Work Style:
As an Accounts Payable Coordinator, it is essential to have excellent organizational skills and attention to detail. You must be analytical and able to identify discrepancies and potential errors in financial records. You will also need to be a problem solver and able to think creatively to find solutions to issues related to invoice processing, payment disputes, and vendor management. Time management and the ability to prioritize tasks will also be crucial to ensure that payments are made on time and that the Accounts Payable processes run smoothly.
Working Conditions:
Accounts Payable Coordinators work in office settings with regular office hours. They spend their time sitting at a desk, working on a computer, processing invoices, and communicating with vendors and stakeholders. The role may require overtime work, especially at month-end or during peak periods, to ensure that financial records are up-to-date and payments are made on time.
Team Size and Structure:
Accounts Payable Coordinators can work independently, but they will likely be part of a larger accounting or finance team. The size of the team will depend on the size of the organization and the volume of transactions processed. The structure of the team may be hierarchical, with the Accounts Payable Coordinator reporting to a supervisor or manager. In larger organizations, there may be several Accounts Payable Coordinators, each responsible for processing invoices, managing vendor accounts, or handling payment-related issues.
Collaboration and Communication Requirements:
As an Accounts Payable Coordinator, you will need to communicate regularly with vendors, stakeholders, and other teams within the organization, such as procurement or finance. Therefore, you need to be an excellent communicator with strong interpersonal skills. You must be able to communicate effectively in person, via email, and over the phone. You will need to build and maintain positive relationships with vendors by addressing issues and disputes in a timely and professional manner.
Cultural Fit and Company Values:
Accounts Payable Coordinators should align with the company's values, mission, and culture. The role requires working with many stakeholders, and the ability to work collaboratively and respectfully is essential. The accounting and finance function is critical to the overall success of the organization, and the Accounts Payable Coordinator must remain committed to upholding high ethical standards and maintaining accuracy and integrity in financial records. A keen attention to detail and a commitment to continuous improvement will also be valued traits for this role.
Overview/Summary of the role:
The Accounts Payable Coordinator is responsible for overseeing the processing of incoming invoices and payments to ensure accurate and timely payment to vendors, suppliers, and contractors. They work closely with other departments within the company to ensure expenses are properly recorded and accounted for. The ideal candidate will have excellent attention to detail, strong organization skills, and the ability to manage multiple tasks and deadlines simultaneously.
Responsibilities and Duties:
- Process incoming invoices and verify accuracy
- Match invoices to purchase orders and ensure proper approvals are obtained for payment
- Enter invoices into the accounting system and code expenses correctly
- Communicate with vendors regarding payment status and resolve any discrepancies
- Prepare and execute payments to vendors via check or electronic transfer
- Assist with month-end closing processes and reconciliations
- Maintain accurate and up-to-date records of all accounts payable transactions
- Assist with other accounting tasks and projects as needed
Qualifications and Skills:
Hard skills:
- Proficiency in Microsoft Excel and accounting software
- Familiarity with accounts payable and general accounting practices
- Strong analytical and problem-solving skills
- Ability to maintain confidential information and comply with company policies and procedures
- Knowledge of tax requirements related to accounts payable
Soft skills:
- Excellent communication skills, both verbal and written
- Strong attention to detail and ability to catch errors and discrepancies
- Ability to work independently and collaboratively in a team environment
- Strong organizational skills and the ability to prioritize tasks effectively
- Customer service-oriented with a positive and professional attitude
Education and Experience:
Required:
- High school diploma or equivalent
- 2+ years of experience in accounts payable or related field
- Demonstrated experience with accounts payable processes and software
Preferred:
- Associate's or bachelor's degree in accounting or related field
- Familiarity with ERP systems (e.g. SAP, Oracle, NetSuite)
- Experience in a manufacturing or similar industry with inventory managementLicensing:
There are no specific licensing requirements for becoming an Accounts Payable Coordinator. However, having a certification in accounting, finance or related field can prove beneficial when applying for jobs.
Typical Employers:
Accounts Payable Coordinators can find job opportunities in various organizations such as small businesses, multinational corporations, government agencies, and non-profit organizations.
Work Environment:
Accounts Payable Coordinators typically work in office environments, in close proximity to other accounting and finance professionals. The role involves sitting for extended periods, working on a computer and communicating with vendors and coworkers.
Career Pathways:
To become an Accounts Payable Coordinator, one typically needs a bachelor's degree in accounting, finance, or related fields. This position often serves as a starting point to move up in the accounting and finance fields. Career pathways for Accounts Payable Coordinators may include advancing to positions such as Accounts Payable Manager, Accounting Manager, Financial Analyst, or Controller.
Job Growth Trend:
According to the U.S. Bureau of Labor Statistics, employment of accounting and auditing professionals, including Accounts Payable Coordinators, is projected to grow 4% from 2019 to 2029, which is about as fast as the average for all occupations. The global job outlook is also positive for Accounts Payable Coordinators, with a growing demand for finance and accounting professionals across many industries.Career Satisfaction:
Accounts Payable Coordinators generally report high job satisfaction as they have the opportunity to work on a variety of tasks and projects, interact with various stakeholders, and take ownership of their role in contributing to the organization's financial success.
Related Job Positions:
Some related job positions to Accounts Payable Coordinator include: Accounts Payable Specialist, Accountant, Financial Analyst, Bookkeeper, Accounts Receivable Coordinator, and Financial Manager.
Connected People:
Accounts Payable Coordinators interact with various stakeholders within the organization such as department heads, budget directors, purchasing managers, and vendors.
Average Salary (USA, UK, Germany, India, Brazil):
In the USA, the average salary for an Accounts Payable Coordinator is $46,000 per year. In the UK, the average salary is £23,000 per year. In Germany, the average salary is €40,000 per year. In India, the average salary is ₹288,000 per year. In Brazil, the average salary is R$45,000 per year.
Benefits Package:
Benefits package for Accounts Payable Coordinators varies depending on the organization, but it typically includes health insurance, retirement plans, paid time off, and bonuses or profit-sharing opportunities.
Schedule and Hours Required:
Accounts Payable Coordinators typically work full-time during regular business hours, with occasional overtime required during peak periods such as month-end or year-end close. Remote work or flexible scheduling is becoming more common in this role as companies adopt more flexible work policies.Level of Autonomy:
An Accounts Payable Coordinator will have a moderate to high level of autonomy in their role. They will be responsible for managing their workload, prioritizing tasks, and ensuring that payments are made accurately and on time. They will also be required to handle disputes and discrepancies, and will need to work with other departments, vendors, and suppliers to resolve any issues. The Accounts Payable Coordinator will be expected to exercise judgment and make decisions on payment approvals within established policies, procedures, and limits.
Opportunities for Professional Development and Advancement:
There are numerous opportunities for professional development and advancement for an Accounts Payable Coordinator. They can pursue additional education or training in accounting, finance, or related fields. They can also work towards professional certifications such as Certified Accounts Payable Professional (CAPP) or Certified Management Accountant (CMA). Opportunities for advancement may include promotions to higher-level roles such as Accounts Payable Manager or Controller.
Specialized Skills or Knowledge Required:
An Accounts Payable Coordinator should have a strong working knowledge of accounting principles and practices, and be able to interpret and analyze financial data. They should have excellent organizational and time-management skills, be detail-oriented, and have strong communication and interpersonal skills. Proficiency in basic computer software such as Microsoft Excel and Word is essential, as well as experience with specialized accounting software and enterprise resource planning (ERP) systems.
Physical Demands:
An Accounts Payable Coordinator typically works in an office environment and may spend long hours sitting at a desk working on a computer. They may need to lift boxes or files occasionally, but physical demands are generally minimal.
Tools and Technologies Used:
An Accounts Payable Coordinator will use a variety of tools and technologies in their role, including accounting software such as QuickBooks or Sage, ERP systems such as SAP or Oracle, spreadsheets, and databases. They may also use scanners, fax machines, and other office equipment as needed. Strong proficiency in these tools and technologies is essential for success in this role.Work Style:
As an Accounts Payable Coordinator, it is essential to have excellent organizational skills and attention to detail. You must be analytical and able to identify discrepancies and potential errors in financial records. You will also need to be a problem solver and able to think creatively to find solutions to issues related to invoice processing, payment disputes, and vendor management. Time management and the ability to prioritize tasks will also be crucial to ensure that payments are made on time and that the Accounts Payable processes run smoothly.
Working Conditions:
Accounts Payable Coordinators work in office settings with regular office hours. They spend their time sitting at a desk, working on a computer, processing invoices, and communicating with vendors and stakeholders. The role may require overtime work, especially at month-end or during peak periods, to ensure that financial records are up-to-date and payments are made on time.
Team Size and Structure:
Accounts Payable Coordinators can work independently, but they will likely be part of a larger accounting or finance team. The size of the team will depend on the size of the organization and the volume of transactions processed. The structure of the team may be hierarchical, with the Accounts Payable Coordinator reporting to a supervisor or manager. In larger organizations, there may be several Accounts Payable Coordinators, each responsible for processing invoices, managing vendor accounts, or handling payment-related issues.
Collaboration and Communication Requirements:
As an Accounts Payable Coordinator, you will need to communicate regularly with vendors, stakeholders, and other teams within the organization, such as procurement or finance. Therefore, you need to be an excellent communicator with strong interpersonal skills. You must be able to communicate effectively in person, via email, and over the phone. You will need to build and maintain positive relationships with vendors by addressing issues and disputes in a timely and professional manner.
Cultural Fit and Company Values:
Accounts Payable Coordinators should align with the company's values, mission, and culture. The role requires working with many stakeholders, and the ability to work collaboratively and respectfully is essential. The accounting and finance function is critical to the overall success of the organization, and the Accounts Payable Coordinator must remain committed to upholding high ethical standards and maintaining accuracy and integrity in financial records. A keen attention to detail and a commitment to continuous improvement will also be valued traits for this role.