AP / AR Specialist

What is an AP / AR Specialist?

An Accounts Payable/Receivable (AP/AR) Specialist plays a critical role in managing the financial transactions of a business. They are responsible for overseeing both incoming and outgoing payments, ensuring accuracy and compliance with financial policies. This dual-role professional ensures smooth financial operations by handling vendor payments, reconciling accounts, processing invoices, and maintaining financial records.

The AP/AR Specialist acts as a vital link between vendors, clients, and internal teams, resolving discrepancies and addressing billing concerns. Their ability to manage detailed accounting processes efficiently contributes to the organization’s financial health and overall success.

Job Duties

Accounts Payable

• Expense Management: Control petty cash spending and charge expenses to appropriate accounts and cost centers.
• Vendor Management: Verify vendor accounts, process payments, and resolve discrepancies related to purchase orders, invoices, or payments.
• Financial Controls: Issue purchase order amendments, monitor payroll expenses, and handle stop payments as necessary.
• Account Reconciliation: Reconcile account transactions with the general ledger and prepare accurate financial reports.
• Regulatory Compliance: Stay informed about accounting standards and best practices to ensure compliance.

Accounts Receivable

• Account Reconciliation: Reconcile the accounts receivable ledger to ensure accuracy and completeness.
• Invoice Management: Process accounts, generate invoices, and ensure compliance with financial policies.
• Client Communication: Verify discrepancies, resolve billing issues, and facilitate timely payment of invoices through client contact and reminders.
• Financial Reporting: Generate financial statements and reports detailing accounts receivable status.