Accounts payable (AP) and accounts receivable (AR) positions include responsibilities related to financial transactions, record-keeping, and communication with clients or vendors:
Accounts Payable (AP) Job Description:
1. Invoice Processing:
- Receiving and reviewing invoices from vendors or suppliers.
- Verifying accuracy, including quantities, prices, and terms.
- Coding invoices to appropriate accounts and cost centers.
- Entering invoices into the accounting system for payment processing.
2. Payment Processing:
- Managing payment schedules and ensuring timely payments.
- Initiating and processing payments via checks, electronic transfers, or other payment methods.
- Resolving any discrepancies or issues with payments.
3. Vendor Communication:
- Communicating with vendors regarding invoice inquiries, discrepancies, and payment status.
- Building and maintaining positive relationships with vendors.
4. Account Reconciliation:
- Reconciling accounts payable transactions.
- Resolving discrepancies with vendor statements and accounts.
5.Reporting:
- Generating regular reports on accounts payable status, aging, and cash flow projections.
- Providing financial data and analysis as required.
Accounts Receivable (AR) Job Description:
1. Invoicing and Billing:
- Generating and sending out invoices to customers or clients.
- Ensuring accuracy of invoices, including pricing, terms, and taxes.
- Managing billing cycles and schedules.
2. Payment Collection:
- Tracking and recording payments received from customers.
- Negotiating payment plans and resolving payment disputes.
3. Customer Communication:
- Communicating with customers regarding billing inquiries, discrepancies, and payment arrangements.
- Providing excellent customer service to maintain positive relationships.
4. Account Reconciliation:
- Reconciling accounts receivable transactions.
- Investigating and resolving discrepancies between payments received and invoiced amounts.
5. Reporting:
- Generating regular reports on accounts receivable aging, collections, and cash flow.
- Providing insights and analysis on customer payment trends and delinquencies.
The AR, AP role requires Intermediate Level of English, attention to detail, proficiency in accounting software, strong organizational skills, and the ability to work effectively in a team environment. Additionally, familiarity with relevant accounting principles and regulations is essential for ensuring compliance and accuracy in financial transactions.
