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.
view jobs near youaverage 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.
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.
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 job description
An accounts payable specialist has many daily duties and responsibilities. These duties include:
- reporting sales tax by calculating the requirements on paid invoices
- disbursing petty cash
- paying vendors
- verifying federal ID numbers
- preparing checks
- resolving purchase orders
- maintaining account ledgers
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accounts payable specialist work environment
As an accounts payable specialist, your typical workday takes place in an office environment under the guidance of a supervisor or manager. Most of your time is spent at a computer, meticulously tracking and inputting data into spreadsheets. You may also travel to various job sites depending on your responsibilities for multiple firms. While you may work independently on many tasks, you also collaborate with accountants, financial managers, and fellow clerks.
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who are your colleagues?
Depending on your employer and the industry you work in, your colleagues could include accountants, tax specialists, and logistics vendors. You might also be working in close proximity to order fillers and payroll clerks, as well as other specialists that could include, but not be limited to, administrative assistants, order processing clerks, and internal audit managers.
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work schedule
The standard work schedule for an accounts payable specialist usually involves regular full-time office hours from Monday to Friday. However, longer hours may be required during specific periods such as tax time, the end of the fiscal year, and monthly or yearly audits. While most accounts payable specialist positions are full-time, part-time roles are also available.
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job outlook for accounts payable specialists
Per the BLS, the employment outlook for accounts payable clerks indicates a projected decline of 5% from 2021 to 2031. The primary reason for this expected decrease is technological advancements, particularly in cloud computing and software innovations, which have automated many tasks previously handled by accounts payable specialists. However, despite this decline, the demand for accounts payable specialists remains high, given the substantial number of employees required to manage company accounts nationwide.
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benefits of working for randstad as an accounts payable specialist
Working through Randstad offers you a range of benefits:
- being paid weekly
- flexibility
- always a contact person you can fall back on and ask for help from
- many training opportunities
- a range of jobs in your area
Want a permanent contract? But you wonder why it would be interesting for you to work with a staffing company? A temporary job as an accounts payable specialist is often a stepping stone to an attractive permanent job. Every year, thousands of people earn a permanent contract with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too!
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
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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is experience necessary to work as an accounts payable specialist?
While prior knowledge can be beneficial, many employers offer on-the-job training for entry-level positions in accounts payable.
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are there opportunities for career advancement as an accounts payable specialist?
Yes, there are ample opportunities for career advancement within this field. With experience and training, you could progress to roles like accounts payable manager or other positions in the accounting and finance department.
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can I work remotely as an accounts payable specialist?
Remote work opportunities for accounts payable specialists have increased with cloud-based systems and reliable Internet availability. Depending on the employer's policies and requirements, some companies may offer remote positions.
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how can I find a job as an accounts payable specialist?
You can search for accounts payable specialist positions on job boards, company websites, or through staffing agencies. Creating a solid resume and networking within the industry could also increase your chances of landing a job in this field.
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is the job of an accounts payable specialist stressful?
While there may be occasional pressure during busy periods, the work environment for an accounts payable specialist is manageable and rewarding.
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how do I find a job as an accounts payable specialist?
Applying for an accounts payable specialist job is easy: create a Randstad profile and search our scrum master jobs for vacancies in your area. Then simply send us your CV. If you do not have a resume, no worries. Just check out our resume builder. This state of the art tool will help you to create your own resume. Need help with your application? Check out all our job-hunting tips!
submit your resume
Make sure your resume is up-to-date, including information about your technical skills and certifications. Then share it with us to connect with a recruiter and be matched with job opportunities.
