Accounts Payable/Receivable Specialist

What is an Accounts Payable/Receivable Specialist?

An Accounts Payable/Receivable Specialist is a financial professional responsible for managing a company’s payables and receivables processes, ensuring accurate and timely processing of transactions. This role involves handling invoices, payments, collections, and reconciliations to maintain smooth cash flow and financial stability. Accounts Payable/Receivable Specialists play a vital role in safeguarding the company’s financial health by ensuring proper management of outstanding liabilities and receivables.

In the FinTech industry, these specialists often work with advanced financial tools and automated systems to optimize efficiency and reduce errors. Their expertise in leveraging technology allows them to manage high transaction volumes and support the rapid growth of innovative financial solutions. By maintaining precision and accuracy, they help ensure the organization’s compliance with financial regulations and policies.

Job Duties

• Manage Accounts Payable: Process invoices, verify payment requests, and ensure timely disbursement of payments to vendors and suppliers.
• Oversee Accounts Receivable: Monitor outstanding invoices, issue billing statements, and follow up with clients to ensure timely collections.
• Reconcile Accounts: Perform regular reconciliations of vendor and customer accounts to maintain accurate financial records.
• Handle Payment Processing: Process electronic fund transfers, checks, and wire payments accurately and efficiently.
• Ensure Compliance: Adhere to company policies, accounting principles, and regulatory requirements to maintain financial integrity.
• Assist with Month-End Closings: Support month-end and year-end financial close processes by providing necessary reports and reconciliations.
• Resolve Discrepancies: Investigate and resolve any discrepancies in invoices, payments, or receivables, ensuring accuracy and preventing financial losses.
• Collaborate Across Teams: Work closely with finance, procurement, and sales teams to streamline processes and resolve payment or billing issues.