AP / AR Specialist

What is an AP / AR Specialist?

An AP/AR (Accounts Payable/Receivable) Specialist plays a critical role in maintaining the financial health of a real estate organization. This position is responsible for managing expenses, vendor payments, tenant billing, and financial reconciliation while ensuring compliance with industry standards and regulations.

AP/AR Specialists act as the backbone of the accounting function, ensuring that payments are processed accurately, invoices are sent on time, and financial records are well-maintained.

Job Duties

Accounts Payable

• Expense Management: Allocate expenses to appropriate accounts and cost centers while controlling petty cash spending.
• Vendor Payments: Verify vendor accounts, process payments, and maintain accurate vendor records.
• Purchase Orders: Resolve purchase order discrepancies, process amendments, and issue stop payments when necessary.
• Payroll Monitoring: Handle payroll expense claims, including overtime and salary advances.
• Financial Reconciliation: Ensure all account transactions align with the general ledger.
• Compliance: Stay updated on regulatory requirements and accounting best practices.

Accounts Receivable

• Payment Processing: Process incoming payments, ensuring adherence to company policies.
• Transaction Management: Verify, classify, post, and record accounts receivable data accurately.
• Billing and Invoicing: Prepare and send bills and invoices to tenants and property owners.
• Reconciliation: Reconcile accounts receivable ledgers to ensure financial data is accurate.
• Collections: Resolve billing discrepancies, send payment reminders, and follow up on overdue accounts.
• Reporting: Generate financial statements and detailed reports on accounts receivable status.