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Key Responsibilities and Required Skills for a Vendor Accountant

💰 $55,000 - $75,000

AccountingFinanceAccounts Payable

🎯 Role Definition

A Vendor Accountant serves as a cornerstone of the finance department's accounts payable function, meticulously managing the financial relationships with all company vendors. This role is pivotal in maintaining the company's financial integrity and operational continuity by ensuring all vendor invoices are accurately processed, reconciled, and paid in a timely manner. The Vendor Accountant acts as the primary point of contact for vendor inquiries, resolves payment discrepancies, and contributes to the month-end close process, thereby safeguarding company assets and fostering strong, positive vendor partnerships.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Accounts Payable Clerk / Specialist
  • Accounting Assistant
  • Junior Accountant

Advancement To:

  • Senior Vendor Accountant / Senior AP Accountant
  • Accounts Payable Supervisor / Manager
  • General Ledger Accountant

Lateral Moves:

  • Procurement Analyst
  • Financial Analyst
  • Staff Accountant

Core Responsibilities

Primary Functions

  • Manage the full-cycle accounts payable process, from invoice receipt and entry to final payment, ensuring accuracy and adherence to company policies and approval workflows.
  • Process a high volume of vendor invoices, both PO and non-PO related, by meticulously verifying accuracy, coding expenses to the correct general ledger accounts, and securing necessary approvals.
  • Execute the three-way matching process by comparing purchase orders, goods-received notes, and vendor invoices to validate transactions before authorizing payment.
  • Maintain and update the master vendor database, including the setup of new vendors, verification of banking and tax information (W-9/W-8 forms), and ongoing data cleansing.
  • Serve as the primary point of contact for all external vendor inquiries, professionally and promptly resolving issues related to invoice status, payment discrepancies, and account information.
  • Prepare and execute weekly payment runs via various methods including ACH, wire transfer, and check, ensuring all payments are processed accurately and on schedule.
  • Perform monthly reconciliations of vendor statements against the accounts payable ledger, thoroughly investigating and resolving any identified discrepancies in a timely fashion.
  • Actively participate in the month-end closing process by preparing accounts payable-related journal entries, accruals for un-invoiced goods and services, and balance sheet reconciliations.
  • Administer the corporate credit card program, which involves reconciling employee expense reports, ensuring compliance with T&E policies, and processing payments to the card provider.
  • Prepare and file annual 1099-MISC, 1099-NEC, and 1096 forms in compliance with IRS regulations, ensuring all reportable payments are captured and reported accurately.
  • Analyze and reconcile key accounts such as prepaid expenses and accrued liabilities to ensure the ongoing accuracy and integrity of the company's financial statements.
  • Proactively identify opportunities for process improvements within the accounts payable function to increase efficiency, strengthen internal controls, and reduce operational costs.
  • Collaborate closely with internal departments, including procurement and receiving, to swiftly resolve discrepancies related to purchase orders, pricing, and quantity.
  • Diligently monitor and manage the accounts payable aging report to ensure timely payments, avoid late fees, and capitalize on available early payment discounts.
  • Provide critical support for internal and external audits by gathering requested documentation, preparing schedules, and clearly articulating answers to inquiries related to the P2P cycle.
  • Uphold and enforce strict adherence to internal controls (including SOX compliance, where applicable) and financial policies to mitigate risk and prevent fraudulent activity.
  • Review and process employee expense reimbursements submitted through expense management software, verifying receipts and policy compliance before issuing payment.
  • Generate and analyze various accounts payable reports for management review, including cash flow forecasts, aged payables analysis, and key performance indicators (KPIs).
  • Participate in the implementation and continuous improvement of accounting systems and software, particularly those related to invoice automation and payment processing.
  • Investigate, troubleshoot, and resolve complex payment issues, such as duplicate payments, incorrect vendor details, or payment rejections from financial institutions.
  • Reconcile and manage intercompany payables and transactions to ensure proper accounting treatment and settlement between related business entities.
  • Handle the escheatment process for unclaimed property, specifically related to uncashed vendor checks, ensuring full compliance with state regulations.

Secondary Functions

  • Support ad-hoc financial analysis and reporting requests from senior management and other departments.
  • Assist in the creation, documentation, and refinement of accounts payable policies and standard operating procedures.
  • Collaborate with business units to understand their vendor and payment needs and translate them into clear accounting requirements.
  • Participate actively in team meetings, contributing to the achievement of departmental goals and wider finance organization initiatives.

Required Skills & Competencies

Hard Skills (Technical)

  • ERP System Proficiency: Hands-on experience with large-scale ERP systems such as SAP, Oracle NetSuite, Microsoft Dynamics 365, or a similar platform.
  • Advanced Excel Skills: Mastery of Microsoft Excel, including pivot tables, VLOOKUPs, SUMIFs, and other complex formulas for data analysis and reconciliation.
  • GAAP Knowledge: A strong and practical understanding of Generally Accepted Accounting Principles (GAAP) and their application to the accounts payable function.
  • Full-Cycle AP Experience: Demonstrated expertise in managing the end-to-end accounts payable process, from invoice capture to payment and reconciliation.
  • Tax Compliance Knowledge: Familiarity with tax reporting requirements, particularly the preparation and filing of 1099 forms.
  • AP Automation Tools: Experience using automated invoice processing and payment platforms like Bill.com, Coupa, Tipalti, or AvidXchange.

Soft Skills

  • Attention to Detail: An exceptional eye for detail and a commitment to maintaining a high degree of accuracy in all work performed.
  • Organizational Skills: Superior organizational and time-management abilities, with a proven capacity to manage multiple priorities and meet deadlines in a fast-paced environment.
  • Communication Prowess: Excellent written and verbal communication skills, essential for interacting effectively and professionally with vendors and internal colleagues.
  • Analytical & Problem-Solving: Strong analytical mindset with the ability to methodically investigate issues, identify root causes, and implement effective solutions.
  • Integrity and Discretion: A high level of personal integrity and the ability to handle confidential financial information with utmost discretion and professionalism.
  • Adaptability: The ability to adapt to changing processes, new systems, and evolving business needs.

Education & Experience

Educational Background

Minimum Education:

  • Associate's Degree

Preferred Education:

  • Bachelor's Degree

Relevant Fields of Study:

  • Accounting
  • Finance
  • Business Administration

Experience Requirements

Typical Experience Range: 3-5 years of direct experience in an accounts payable or general accounting role.

Preferred:

  • Experience working in a high-volume transaction environment.
  • Prior involvement in a company with established SOX controls is highly advantageous.
  • Experience participating in a system implementation or process improvement project.
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