WHAT IS AN ACCOUNTS PAYABLE OFFICER?

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What do I need to study to become an Accounts Payable Officer?

Monarch Institute<p>Work towards your goals and go further in your accounting career with this online Advanced Diploma of Accounting (FNS60215).</p>
Open Colleges

Study this Certificate IV in Accounting (FNS40615) course online and you will gain a thorough understanding of financial practices and procedures.

Monarch Institute

Take the next step in your accounting career with this online Diploma of Accounting (FNS50217) from Monarch Institute and achieve your goals.

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What is an Accounts Payable Officer?

The main role of an Accounts Payable Officer is to make certain that their company’s invoices are paid on schedule and that they are not being overcharged for any goods or services.

Administering the outgoing payments ledger, the Accounts Payable Officer ensures that all expenditures are accurately recorded and upholds the organisation’s financial control procedures. They also manage many internal payments such as staff reimbursement, petty cash and tax exemption certificates.

In some cases the Accounts Payable Officer also serves in the accounts receivable role, sending and following up invoices, collecting and processing payments, and handling issues such as defaulting payments and disputes.

What do Accounts Payable Officers do?

  • Reviewing and processing invoices from vendors, suppliers and other external sources.
  • Organising and dispatching payments and payment advices.
  • Adhering to payment and reporting schedules and deadlines.
  • Reconciling accounts and managing the outgoing payments ledger.
  • Identifying and reporting any irregularities or discrepancies.
  • Issuing and tracking internal reimbursements, tax exemption certificates and petty cash.
  • Liaising with vendors and creditors regarding delayed payments and other issues.

Career snapshot for Accounts Payable Officer

  • The average age of working Accounts Payable Officers is 43.
  • 17.00% of Accounts Payable Officers are male.
  • 62.90% of Accounts Payable Officers work full-time and on average they work around 36.6 hours per week.
  • With A Certificate II or III, Accounts Payable Officers get paid $1,071 per week Before Tax.
  • Unemployment levels are average.
  • In 2015 records showed 137,400 employed Accounts Payable Officers.
  • The projected growth of the profession is estimated to be stable with employment numbers around 133,900 by 2020.
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