Torchora
Back to Home

Key Responsibilities and Required Skills for AP Accountant

💰 $ - $

AccountingFinanceAccounts PayablePayroll

🎯 Role Definition

An AP Accountant (Accounts Payable Accountant) is responsible for managing the full cycle of accounts payable activities including invoice receipt and validation, purchase order matching, vendor payments, reconciliations, month-end closing tasks, and supporting internal and external audits. This role ensures timely and accurate payment processing, maintains vendor relationships, enforces internal controls and compliance (including SOX where applicable), and continuously improves AP processes through automation and best practices.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Accounts Payable Clerk / AP Specialist
  • Accounts Payable Processor / AP Coordinator
  • Junior Staff Accountant

Advancement To:

  • Senior AP Accountant / AP Supervisor
  • Accounting Manager / Accounts Payable Manager
  • Senior Staff Accountant → Controller / Finance Manager

Lateral Moves:

  • Billing Analyst / Revenue Accountant
  • Treasury Analyst / Payments Specialist
  • Procurement / Vendor Management Coordinator

Core Responsibilities

Primary Functions

  • Manage the end-to-end accounts payable cycle: receive and code invoices, verify supporting documentation, perform three-way purchase order (PO) / invoice / receipt matching, and prepare invoices for payment in the ERP system (e.g., SAP, Oracle, NetSuite, Microsoft Dynamics).
  • Process supplier payments on scheduled cycles using ACH, wire transfer, check, and virtual card methods; ensure payment runs are executed accurately, on time and in accordance with vendor terms.
  • Perform vendor statement reconciliations and resolve discrepancies by researching invoices, credit memos, purchase orders, and receiving documentation; maintain current vendor balances and aging.
  • Prepare and post AP journal entries and adjustments to the general ledger; ensure timely and accurate recording of AP-related transactions as part of month-end close.
  • Lead month-end accounts payable close activities: reconcile AP subledger to the general ledger, analyze reconciling items, and provide supporting schedules and variance explanations to the accounting team.
  • Review and code invoices to the correct GL accounts, cost centers and projects; apply accounting policies, capitalization rules and expense allocation standards.
  • Maintain and update the vendor master file: create new vendors, update tax/1099 status, remit-to addresses, banking details and ensure proper segregation of duties and approval controls.
  • Support internal and external audits by preparing documentation, answering auditor inquiries, providing AP transaction detail, and implementing corrective actions for control findings (including SOX compliance activities).
  • Execute vendor onboarding and KYC screening in coordination with Procurement and Compliance teams; review W-9 forms and prepare 1099-MISC/NEC filings and reports as required.
  • Reconcile and analyze the AP aging report weekly/monthly; identify slow-paying and disputed invoices, escalate issues, and follow up on pending approvals to reduce outstanding liabilities.
  • Investigate and resolve vendor inquiries regarding invoice status, payments, remittances and discrepancies; maintain strong vendor relationships and timely communication.
  • Monitor and support implementation of AP automation tools and workflow improvements (e.g., OCR invoice capture, e-invoicing, P2P solutions) to increase efficiency and reduce manual processing errors.
  • Enforce AP policies and internal controls: approve exceptions, manage payment limits, ensure adequate segregation of duties and document standard operating procedures.
  • Review expense reports and corporate card transactions as needed, ensuring compliance with company policy and timely reconciliation to the AP ledger.
  • Coordinate with Procurement, Receiving and Project Managers to resolve PO mismatches, missing receipts, and contract-related invoice disputes.
  • Analyze and prepare regular AP reports for Finance leadership, including cash forecast inputs, top vendor aging, early payment discount opportunities, and KPI tracking (invoice cycle time, exceptions rate).
  • Assist with cash management activities by providing AP payment forecasts, recommended payment cutoffs and opportunities for discounts or net terms negotiation.
  • Implement remediation for recurring discrepancies and identify process improvements using root-cause analysis to reduce bottlenecks and invoice exception rates.
  • Train and mentor junior AP staff and cross-functional partners on AP processes, system usage, and best practices; delegate tasks and review work for accuracy and compliance.
  • Maintain confidentiality and security of vendor banking and payment information; enforce cybersecurity and fraud-prevention procedures (positive pay, dual approval for high-value payments).
  • Support special projects related to account reconciliation, system conversions (ERP upgrades, AP module implementations), mergers & acquisitions integrations or tax audits involving accounts payable.
  • Monitor and enforce compliance with sales/use tax, VAT and withholding requirements related to vendor payments and liaise with Tax or Legal teams when required.

Secondary Functions

  • Assist cross-functional teams with ad-hoc reporting and data extraction for vendor spend analysis, supplier diversity reporting, and audit preparation.
  • Participate in AP process improvement initiatives and solution design workshops when implementing new ERP modules, AP automation platforms, or RPA (robotic process automation).
  • Provide backup support for receivables, petty cash, and bank reconciliations during peak periods or staff absences.
  • Maintain and update written procedures and training materials for AP workflows, invoice processing standards and vendor onboarding steps.
  • Collaborate with Treasury and Cash Management to optimize payment timing and reconcile daily payment clearing accounts.
  • Support procurement and contract teams by verifying supplier contractual billing terms, early payment discount opportunities, and disputed charge resolution.
  • Participate in continuous training on tax reporting (1099), global payments, and regulatory changes impacting vendor payments.
  • Compile month-end narratives, KPI dashboards and improvement recommendations for senior finance leadership.

Required Skills & Competencies

Hard Skills (Technical)

  • Strong hands-on experience with Accounts Payable systems and ERPs (e.g., SAP, Oracle EBS, NetSuite, Microsoft Dynamics, Workday Financials).
  • Proficient in invoice processing, three-way PO matching, AP accruals and month-end close procedures.
  • Advanced Excel skills (VLOOKUP/XLOOKUP, PivotTables, INDEX/MATCH, conditional formatting) for reconciliations and reporting.
  • Experience with AP automation tools and OCR-based invoice capture (e.g., Concur, AvidXchange, Basware, Coupa, Tipalti).
  • Knowledge of GAAP accounting principles and posting journal entries to the general ledger.
  • Vendor master data management, supplier onboarding, banking setup and W-9 / 1099 preparation.
  • Payments processing expertise including ACH, wire transfers, virtual cards, check runs and positive pay controls.
  • Strong reconciling skills for AP subledger to GL and intercompany payables if applicable.
  • Familiarity with SOX/internal control frameworks and audit readiness procedures.
  • Ability to extract and query data from ERPs or SQL-based reporting tools for ad-hoc analyses.
  • Experience preparing AP metrics and dashboards: days payable outstanding (DPO), aging analysis, invoice cycle time and exception rates.
  • Knowledge of sales/use tax, VAT, and cross-border payment compliance when applicable.

Soft Skills

  • High attention to detail and strong accuracy in numerical and data work.
  • Excellent written and verbal communication for vendor negotiations and internal collaboration.
  • Strong problem-solving and investigative skills when resolving invoice disputes and discrepancies.
  • Time management and ability to prioritize multiple deadlines in a fast-paced close environment.
  • Team player mindset with experience training and mentoring junior staff.
  • Integrity, discretion and commitment to confidentiality for sensitive vendor and payment information.
  • Adaptability to new systems and willingness to drive/process change and continuous improvement.
  • Customer-service orientation when interacting with vendors and internal stakeholders.
  • Analytical mindset with ability to translate transactional data into clear insights and recommendations.

Education & Experience

Educational Background

Minimum Education:

  • Associate degree in Accounting, Finance, Business Administration or equivalent combination of education and AP experience.

Preferred Education:

  • Bachelor's degree in Accounting, Finance, or Business Administration preferred.

Relevant Fields of Study:

  • Accounting
  • Finance
  • Business Administration
  • Economics
  • Information Systems (with accounting focus)

Experience Requirements

Typical Experience Range: 2–5 years of hands-on accounts payable or general accounting experience.

Preferred: 3+ years of AP experience in a corporate environment with ERP exposure (SAP, Oracle, NetSuite), demonstrated month-end close participation, experience with AP automation tools and prior audit/SOX support experience.

Explore More Careers