Accounts Technician Job Description

Accounts Payable Specialist

An accounts payable specialist is responsible for the financial processing of transactions. Their duties include daily accounting and record keeping, financial reporting, and the preparation of tax records for financial audits. Accounts Payable Specialists are employed by accounting firms.

They reconcile and verify invoices. They help accountants and auditors prepare documentation until tax season. They may be responsible for paying company bills and making sure financial statements include the correct information.

A good accounts payable specialist has a good knowledge of accounting practices and is able to work well with others to ensure a corporation's financial health. An Accounts Payable Specialist should be able to use software to make calculations and support the actions of other finance professionals. An accounts payable specialist is usually an accountant.

Accounts Receivable Specialist: Experience, Qualification and Experience

An Accounts Receivable Specialist is responsible for collecting payments for a company using skills in project management, organization and communications to collect the payments from clients and customers. Accounts receivable specialists make banking deposits and run reports that document profits and losses for an organization. Accounts Receivable Specialists help businesses and organizations with their accounting and financial recordkeeping.

They are in charge of managing all communications relating to invoices and incoming bills. The company has financial records. They have knowledge of company policies, audit business ledgers, organize invoices, and begin the collections process for client accounts with past due balances.

Accounts Receivable Specialists process and record any unique billing situations that fall outside of regular operations. The average yearly salary for an Accounts Receivable Specialist is $32,064. The salary range for Accounts Receivable Specialist is between $13,920 and $59,328 depending on location, level of experience, and industry in which the specialist works.

An Accounts Receivable Specialist with previous experience who works in a large company can usually expect a higher salary than entry-level Accounts Receivable Specialist who works for a smaller company. An accounts receivable specialist needs a minimum of an associate's degree and training in accounting and billing. Managers prefer related courses in accounting, finance, business or bookkeeping.

Many entry-level accounts receivable specialists will receive on-the-job training. They may choose to become certified if they earn more experience. The successful completion of the certification exam is required for certification.

Automating the Accounts Payable Process

The accounts payable team is responsible for many tasks. The cycle times are usually long due to the number of people involved. The accounts payable processes can be automated.

Increased efficiency and accuracy will be achieved through automation. The voucher is uploaded on an invoicing platform, instead of being manually delivered. The invoice is processed before the due dates and the approval process is also within the platform.

Your CFO must be aware of where the money is and the accounts that are due. It is easy to misplace documents with the traditional AP process. Business owners will pay late fees more and more because of limited operational control.

Automating accounts payable procedures eliminates risks. Invoices are not at risk of getting lost since everything takes place in the system. The system will handle them in the order they are uploaded.

You can channel the time savings to other activities. It is easy to monitor the payment cycle with the automation of the accounts payable system. Personnel with access to the system can see when an invoice is ready to be paid.