April 10, 2023
Are you ready to start an easy and fast hiring process? Our mission is to help you find and recruit the most suitable individual to be your new Accounts Payable Manager by offering you helpful business resources. Let’s start with this FREE Accounts Payable Manager Job Description Template.
In this article, you will learn about the crucial skills, requirements, and responsibilities of an Accounts Payable Manager.
Use this information to distinguish a candidate that fits your business profile perfectly.
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Accounts Payable Managers, also known as Accounts Payable Supervisors, are responsible for managing and supervising financial operations within the company’s accounts payable department.
They review invoices, contracts, financial reports, statements, and other documentation to ensure the accuracy and adherence to the company’s policies and procedures.
They also maintain and oversee the general ledger, accounts payable and receivable, and project accounting.
Additionally, they establish and maintain relationships with vendors, suppliers, and distributors and negotiate payment terms and prices.
|Skill||Why it's important|
|Financial Knowledge||Accounts Payable Managers must have strong financial knowledge to be able to manage and oversee the company’s finances. Financial knowledge includes a strong understanding of financial concepts, taxation, invoicing, budgeting, and other operations. Broad financial knowledge helps them make informed decisions about the company’s finances.|
|Communication||The role of Accounts Payable Managers involves a lot of interaction with other people, which makes communication a crucial skill for this position. Accounts Payable Managers must be able to communicate with vendors, suppliers, business partners, management, and other employees daily, convey important information, and explain financial terms.|
|Attention To Detail||Accounts Payable Managers must be detailed-oriented in order to perform their duties perfectly. This skill helps them review, verify, and analyze financial documentation to ensure its accuracy. Additionally, attention to detail allows them to handle large amounts of data and notice correct errors.|
|Leadership||Leadership is another vital skill for Accounts Payable Managers. They are usually responsible for leading, motivating, and encouraging their team members toward mutual goals and objectives. Leadership also helps them evaluate their performance, implement corrective measures, and train and support new members of the accounts payable team.|
|Organization||Accounts Payable Managers must have strong organizational skills for this position. Organizational skills help them keep track of their duties, delegate tasks to team members, and manage the company’s financial operations efficiently. Also, good organization helps them maintain large amounts of invoices, reports, statements, and other financial documentation.|
We are hiring an Accounts Payable Manager to supervise our accounts payable department. In this position, you will be responsible for managing the company’s accounts payable operations and overseeing the team of accounts payable employees. You will maintain the general ledger, accounts payable, and project accounting, ensure the accuracy of financial reports, statements, payment transactions, and invoices, and process payments to vendors and suppliers.
In addition, your job will include analyzing financial information and reporting back to management, implementing corrective measures to improve efficiency and accuracy, and keeping track of the company’s financial expenditures. You will also establish and maintain relationships with vendors and suppliers, negotiate payment terms and prices, and train and support accounts payable staff members.
As an Accounts Payable Manager, you should have superb financial knowledge, along with excellent communication, attention to detail, organization, and leadership.
Once you gather up all the received applications, you can use these sample interview questions for Accounts Payable Manager.
Common educational requirements for Accounts Payable Managers include a Bachelor’s degree in accounting, business administration, economics, finance, or a related field.
Some employers would prefer to hire candidates with a Master’s degree in some of these areas.
There are several certifications available for Accounts Payable Managers that can prove their knowledge and expertise and enhance their professional credentials.
Some of the recognizable certifications are the Certified Accounts Payable Associate (CAPA), Certified Accounts Payable Professional (CAPP), and Chartered Global Management Accountant (CGMA).
Accounts Payable Managers earn between $34,500 and $99,500 annually.
Their median annual salary is $74,222.
Hourly wages range from $17 and $48.
The median hourly rate is $36.
Accounts Payable Managers are responsible for managing and supervising the operations of the accounts receivable department within the organization.
They review, analyze, and maintain financial reports, statements, invoices, and other documentation, negotiate with vendors and suppliers, keep track of the company’s financial expenditures, and hire and train new members of the accounts payable team.
Accounts Payable Managers can work in a variety of industries and sectors, depending on their field of expertise or interest.
They typically work in corporate businesses, government agencies, non-profit organizations, healthcare and educational institutions, financial services firms, etc.
Accounts Payable Managers usually report to high-level financial executives within the company, such as the Director of Finance or Chief Financial Officer.
Accounts Payable Officers must have strong financial and industry knowledge, as well as outstanding communication, attention to detail, leadership, problem-solving, and organization.
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