Accounts payable clerks make sure their company pays invoices and bills on time. They do this by reviewing them with a department head or following up directly with clients. Proven work experience as an accounts payable clerk is desired for many industries. However, other requirements include a solid understanding of bookkeeping and accounting payable principles, data entry skills (emphasis on numbers), and a high degree of accuracy and attention to detail. The best start to becoming an accounts payable clerk is to obtain a bachelor of science degree in finance, accounting, or business administration. Then, acquire jobs where you can apply your knowledge and skill set.
Who is an Accounts Payable Clerk?
Accounts payable clerks pay an organization’s monthly bills. The role requires working closely with head accountants or supervisors that manage cash flow activities in the accounting department. This ensures you know what bills to pay and when they are due. AP duties consist of maintaining files on existing vendors, entering new ones into the system, and generating yearly 1099 tax documents. Additionally, you will keep files of vendors’ IRS W-9 forms listing tax identification numbers.
1. Learn about the Job Description and Responsibilities
Accounts payable clerks are responsible for processing all invoices received for payment. They also undertake the payment of all creditors accurately and efficiently. Good accounts payable clerks produce clear, timely, and stellar work. They have to pay attention to detail. Their job may also involve keeping up-to-date records of company purchases and organizing account statements.
2. Discover the Finest Ways
Accounts payable clerks ensure company debts are paid in full and on time. Their days usually include reconciling and processing invoices and recording and verifying expenses. People often wonder what kinds of advantages are offered with the position. Salary is one major perk, and the salary for accounts payable clerks depends on experience and education. Average salaries can be anywhere from $36,185 to $44,905 a year.
3. View the Top Colleges and Universities
Taking classes in accounting or bookkeeping in high school and college is the best way to begin your accounts payable career. The Bureau of Labor Statistics states that most accounting clerks must possess a high school diploma. However, many accounts payable clerks have an associate’s degree or higher. Knowledge of accounting concepts can help you earn an entry-level accounts payable clerk job.
4. Consider Whether Working as an Accounts Payable Clerk is Worthwhile
Working as an accounts payable clerk is worthwhile if you enjoy handling financial transactions (especially processing invoices and outgoing payments). If you enjoy resolving billing issues and working on various financial tasks, then this job will suit your interest and skills. Along with serving your interest and abilities, there are other perks to the role.
5. Prepare Required Skills
Accounts payable clerks provide financial and administrative support for an organization. They process payments, verify invoices, and reconcile all expenses to track what is going out of the business.
6. View the Average Pay
Accounts payable clerks are generally full-time employees but can also hold part-time or seasonal positions. Salaries of accounts payable clerks vary depending on their education level, relevant work experience, the location of the job, company size, and industry. In the United States, the average salary is $17.37 per hour for this position. Some salary ranges are from $7.35 to $31.55 per hour. Suppose you are thinking about venturing into a field in business or finance and possess the required skills of an accounts payable clerk. In that case, this is a great role to pursue.
