The term 'accounts payable' means the amount that is payable to the creditors. Sometimes, the amounts that are payable are large sums, and therefore, there have to be separate departments of dedicated workers for this particular task. The people working under this section are known as accounts payable clerks.
Their job is completely related to the accounts department and they handle all the funds that are payable to the creditors. The clerks working in this department are responsible for all kinds of payments. They are required to make the payments to all the creditors on time, otherwise, the company's name could be at stake. This task is very important as it creates a good credit impression of the company. Having a good reputation for the company is very important for them to expand the business.
The clerks have to maintain the daily books, make payments, and coordinate with all the other clerks of the accounts department. The daily maintenance of this department is important as transactions are made on a daily basis.
Small organizations have the accounts department to look after the task, however, in large companies, where the transaction amounts are huge, they need to have a dedicated department and a team of clerks for this job. The clerks make a decent currency each year. Moreover, they acquire excellent opportunities within the organization to move up in the hierarchy.
Read the job description of accounts payable clerk we have provided for you to understand the significance of this profile.
Duties and Responsibilities
The clerks have a good opportunity to move into high level management with a substantial increase in the salary. They can also aim for Accounts Payable Manager or Accounts Payable Analyst job positions.