The key area which involves his working are:
- keeping the invoices in order so that they can be matched later
- processing check requests when required
- preparing and processing payable checks
- reviewing invoices
- keeping an account of payments that have been made
- analyzing the payable accounts
- generating monthly reports for the company
- monitoring accounts to ensure payments are up-to-date
- resolving the discrepancies related to invoices
- maintaining vendor files
- assisting in month-end closing
To perform the aforesaid responsibilities, one has to possess certain skills. Some of these skills include:
- knowledge of accounts payable
- proper judgment
- problem solving skills
- good aptitude
- communication skills
- maintain good relationship with the vendors
- IT skills
- He has to review and assess important expenses and corporate debt, and then approve the payment. An accounts payable manager has to make sure that all the firm's invoices are handled in a proper manner.
- He is also responsible for the hiring of new recruits in the accounting department, and providing employee training about the tasks required to be carried out.
- He has to resolve issues with the vendors and creditors regarding the payments to be made.
Disclaimer: Salary figures mentioned here are for reference purposes, and may vary according to the location, experience, and type/size of an organization.