Accounts Payable Manager Responsibilities
The accounts payable manager responsibilities include playing a key role in accounts payable operations that are successful. If he is successful in executing his job duties correctly and accurately, the accounts payable process will benefit greatly. He administrates both - emotions as well as human relationships, launches and delivers service level deals, and indulges in process verification through the visibleness of the system.
He manages the key neutral relationship and starts by recognizing the fundamental interactions that take place in the process, the people involved, and the relinquishing matters that could lead to conflict. He also manages and oversees the accounts functions such as upholding the general ledger, accounts receivable, accounts payable, and project accounting. He ensures that all the accounting records are accurate and that the taxes have been delivered properly on time.
The accounts payable manager has the following key responsibilities as well:
- Developing, holding, and putting into effect the various procedures, schemes, and rules and regulations that include functions of accounts payable to assure that the company rules are being followed by the other employees
- Managing the presentation of the month end data and the conclusion of the fiscal records monthly
- Assuring the company that all the financial statements stated are correct and up to date
- Entering condition change data into projects accounts software to assure the company that the information given about the employees is correct and updated
- Helping the project managers and the work staff with regards to accounting matters
- Replying to the queries from the customers in order to meet the business requirements and extend the business relationships
- Acting as a connecting agent between the company, the outside accountants, and the government to achieve the information requirements
- Assuring the company that proper data is being held by him for requirements related to history
- Hiring and choosing employees for certain positions
- Providing training to the other employees and assessing their performance in order to improve their quality and quantity of work
- Presenting the matters related to performance of the employees and bringing accolades for the activities of the organization
- Motivating and nominating employees for awards with regard to exceptional duties beyond call
- Increasing the pay and incentives of the employees and promoting them within the rules and regulations of the company and its available budget
- Setting up the personal budget for appproving and recommending its operation
- Monitoring the expenses for agreeing to the budgets
- Assuring appropriate payment for the employees
- Administrating all the payable accounts within the organization
- Administering the accounts for inside and outside clients
- Assuring that the papers in support of cost activities are delivered accurately at the right time and executed in a proper payment
- Administrating cross remark activities and favouring accounts that are billable
- Producing codes for the dealings of all payable accounts and applying procedures that will work as per the policies of the company
- Administering the work tasks of all the employees in the department of accounts payable
- Conducting researches related to the payments and the vendors
- Maintaining the correct records of all the billing that has been done by the company
- Assuring that the accounts payable department holds on to the available budget and does not cross its limits
- Making recommendations to bring about changes in the budget of the company
Qualifications and Skills
The candidate must have a bachelor's degree in commerce or in a related field. Having a master's degree in commerce or business administration would be an asset for this position. He must have a minimum of 7 years of accounting experience. Apart from this, he should have strong analytical skills and an ability to solve the problems. Having good presentation and communication skills would propel him further and he would be able to achieve excellence. He should also have strong computer and business management skills.
The accounts payable manager gets a salary of USD 72,757 on an average. But this may vary from one place to another, depending on the size of the organization.
Thus, the accounts payable manager responsibilities include overseeing and administrating the accounts payable area.