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.

Average Monthly Employment Cost (with Benefits)

Average Annual Employment Cost (with Benefits)

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AP / AR Specialist Job Description

We are seeking a skilled AP/AR Specialist to manage the company’s accounts payable and receivable processes with precision and attention to detail. In this role, you will oversee expense management, vendor payments, account reconciliations, and collections while maintaining compliance with financial regulations and company policies. Your analytical skills and technical expertise will ensure accurate financial reporting and timely resolution of discrepancies.

As an AP/AR Specialist, you will collaborate with vendors, clients, and internal teams to maintain smooth financial operations. You will play a key role in monitoring payroll expenses, issuing invoices, and reconciling ledgers, contributing to the organization’s efficiency and financial integrity.

In this role, you will: 

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.

Essential Skills & Qualifications:

• Professional Experience: Proven work experience as an Accounts Payable/Receivable Specialist or similar role.
• Technical Proficiency: Advanced skills in accounting and business management software.
• Financial Knowledge: In-depth understanding of AP/AR principles, accounting standards, and industry regulations.
• Analytical Skills: Extensive experience in account reconciliation and financial problem-solving.
• Organizational Skills: Exceptional time management and organizational abilities for handling multiple priorities.
• Communication Skills: Excellent verbal and written communication skills for collaboration with vendors and clients.
• Data Entry and Numerical Skills: Proven ability to calculate, post, and manage accounting figures and financial records with accuracy.

Preferred Qualifications:

• Industry Experience: Prior experience in a similar role within the real estate, finance, or technology sectors.
• Advanced Certifications: CPA or similar accounting certifications are an advantage.
• Software Expertise: Familiarity with accounting software like QuickBooks, NetSuite, or SAP.
• Compliance Knowledge: Strong understanding of fair credit practices and collection regulations.
• Process Improvement: Demonstrated ability to streamline financial workflows for enhanced efficiency.