what is an accounts payable specialist?

The role of an accounts payable specialist involves carrying out a range of clerical and accounting tasks related to the accounts payable process. These tasks encompass tracking and recording purchase orders, processing payments, and verifying invoices. The daily responsibilities entail vendor payments, handling stop payments or purchase order amendments, and managing petty cash. Furthermore, if you pursue this career, you will be responsible for sales tax reporting.

Would working as an accounts payable specialist suit your skills or interest? Then read on to find out what competencies and qualifications you need to thrive in an accounts payable specialist role.

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average accounts payable specialist salary

As per the Occupational Outlook Handbook by the U.S. Bureau of Labor Statistics (BLS), the role of an accounts payable specialist falls under bookkeeping, accounting, and auditing clerks. In this position, the average annual salary is $45,560, with an hourly rate of $21.90. However, salaries may vary depending on the location, with higher earnings in places like Los Angeles and lower incomes in areas with a lower cost of living, such as Kansas or Alabama.

Various factors impact the pay for accounts payable specialists. While the median salary is around $45,560 annually in the U.S., entry-level positions with no experience may offer a starting salary closer to $29,120 annually for the lowest 10% earners. Conversely, the highest earners could make up to $61,980 per year. As you gain more experience and expertise, you can expect an increase in your income. Additionally, the industry you work in plays a role, with accounts payable specialists in finance, insurance, and technical services often earning higher salaries.

Wondering what you can earn as an accounts payable specialist? Find out immediately with the Randstad salary checker! You can quickly and easily see what the average salary of an accounts payable specialist is.

Two smiling female working on their laptop.
Two smiling female working on their laptop.
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types of accounts payable specialists

An accounts payable specialist oversees the payment of a company's bills. Collaborating with other accounts payable specialists, they generate reports, record transactions, and monitor expenses. It's worth noting that the job title may vary depending on the industry. Standard titles include bookkeeping clerk, accounting clerk, and auditing clerk, but the tasks performed are essentially the same regardless of the specific title.

 

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working as an accounts payable specialist

If you're seeking a fulfilling entry-level role in the accounting field, consider becoming an accounts payable specialist. This profession provides a competitive salary and prospects for growth. You'll work indoors, collaborate with a team of professionals, and enjoy a regular "9 to 5" weekday schedule.

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accounts payable specialist skills and education

A high school diploma or equivalent, such as a GED, is typically the minimum educational requirement to pursue a career as an accounts payable specialist. While post-secondary education is not mandatory, some employers may prefer candidates with relevant accounting or related coursework. For instance, taking bookkeeping or accounting classes at a local community college or earning an associate's degree in accounting can enhance your qualifications and prospects in this field. There are also several certificates out there to help you advance in the field.

skills and competencies

To succeed as an accounts payable specialist, you need a combination of technical and soft skills, including:

  • attention to detail
  • mathematical proficiency
  • organizational skills
  • data entry skills
  • communication skills
  • analytical skills
  • time management
  • computer literacy
man looking outside in the office
man looking outside in the office
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FAQs about working as an accounts payable specialist

Here you will find answers to the most frequently asked questions about accounts payable specialists.

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