Accounts Payable Specialist Career Guide

What is an accounts payable specialist?

An accounts payable (AP) specialist handles the bills a company needs to pay. They help keep the business running smoothly by ensuring vendors and suppliers are paid correctly.

Duties and responsibilities

An AP specialist’s job involves a lot of paperwork and attention to detail. They:

• Process invoices and payment requests
• Verify transaction information to make sure everything matches up
• Reconcile invoices with purchase orders and receipts
• Resolve discrepancies and confirm all invoices are approved for payment

They also maintain vendor files, respond to vendor questions, and assist with month-end financial closing.

Work environment

AP specialists usually work in an office, either in the accounting or finance department. They can work in many industries, including manufacturing, retail, healthcare, and technology. The job is deadline-driven and requires strong organizational skills and attention to detail.

Typical work hours

Most AP specialists work a regular 9-to-5 schedule from Monday to Friday. During busy times, like at the end of the month or during financial reporting periods, they may work extra hours to get everything done.

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How to become an accounts payable specialist

Becoming an AP specialist involves education, work experience, and sometimes professional certifications. Here’s what you need to do to get into this career:

Step 1: Finish high school diploma

A high school diploma or equivalent is the minimum requirement. Focus on subjects like math, accounting, and business to get a head start.

Step 2: Consider college (optional)

You don’t always need a college degree, but it can help. An associate’s or bachelor’s degree in accounting, finance, or a related field could improve your job prospects. It provides a deeper understanding of accounting concepts.

Step 3: Gain work experience

Get some experience in accounting, finance, or bookkeeping. Entry-level jobs in these areas will help you develop skills related to invoices, payments, and vendor relationships. As you gain experience, you can start focusing on accounts payable roles.

Step 4: Learn accounting software

AP specialists often use software to manage invoices and payments. Familiarize yourself with programs like QuickBooks, Microsoft Excel, or other accounting software. You can find online courses to learn these tools, like QuickBooks courses on Udemy and the Financial Analyst course, which covers Excel. These skills will make you more appealing to employers.

Step 5: Consider certifications (optional)

Certifications can make you stand out. You can get the Accounts Payable Certification (APC) from the American Institute of Financial Clerks or the Certified Bookkeeper (CB) designation from the American Institute of Professional Bookkeepers. 

You can also earn an employer-recognized certificate through Coursera’s Tally Bookkeeper Professional Certificate program, which includes three courses: Fundamentals of Accounting, Principles of Accounts Payable, and Basics of Taxation.

Step 6: Develop your technical and soft skills

Besides software knowledge, AP specialists must be organized, good communicators, and problem-solvers. Work on these skills to succeed in this role.

Step 7: Network and apply for jobs

Once you’re ready, network with people in your industry and start applying for jobs. Tailor your resume and cover letter to highlight your skills, experience, and any certifications. Attend job fairs and industry events to make connections and learn about job opportunities.

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How much do accounts payable specialists make?

The compensation for AP specialists can be influenced by factors such as geographic location, education, years of experience, industry, and company size. In some cases, performance bonuses or commissions may also impact their overall income. 

Browse accounts payable specialist salary data by market

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Types of accounts payable specialists

• General accounts payable specialist: A general AP specialist manages a range of accounts payable tasks, like processing invoices, managing vendor payments, and keeping financial records. They also help with month-end closings and financial reporting. 
• Accounts payable analyst: An AP analyst focuses on analyzing and improving the accounts payable process. They review invoices, find discrepancies, and work with vendors to fix any issues. 
• Accounts payable supervisor: An AP supervisor leads a team of specialists and ensures everything runs smoothly. They set policies, manage workloads, and provide training. 
• International accounts payable specialist: An international AP specialist deals with accounts payable tasks for companies operating globally or with vendors in multiple countries. They ensure compliance with international accounting standards, manage foreign currency transactions, and understand different tax laws. 
• Accounts payable automation specialist: An AP automation specialist handles automated accounts payable systems. They use technology like invoice automation software to streamline processes, reduce manual work, and improve accuracy. 

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Top skills for accounts payable specialists

• Strong organizational skills: Being organized helps specialists keep track of deadlines, prioritize tasks, and avoid late fees. This skill is crucial for keeping the AP process running smoothly and reducing mistakes.
• Attention to detail: Even a small error can cause big problems in this role. Paying close attention to details ensures accurate financial reporting, maintains the organization’s good reputation, and prevents costly errors.
• Solid understanding of accounting principles: AP specialists should know the basics of accounting, like double-entry bookkeeping and payment terms. This knowledge helps them process invoices and payments according to industry standards. 
• Proficiency in relevant software: These specialists need to be comfortable with accounting software like QuickBooks or Microsoft Dynamics. Knowing these tools helps them manage the AP process and create accurate reports. 
• Effective communication abilities: AP specialists talk to a lot of people, from colleagues to vendors. Good communication skills are essential for resolving issues, clarifying information, and answering questions. 

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Accounts payable specialist career path options

Starting out

Many start by getting an associate’s or bachelor’s degree in accounting, finance, or a related field. But, if you have relevant work experience, you can also find entry-level AP jobs with just a high school diploma.

The most common entry-level roles are accounts payable clerk or accounting assistant. This experience helps you understand the basics and sets the foundation for your career.

Moving up

With some experience, you can move into more advanced positions like accounts payable analyst or senior accounts payable specialist. These roles involve more complex tasks, like analyzing accounts payable data, resolving discrepancies, and improving processes.

Further along, you can aim for supervisory or managerial positions, like accounts payable supervisor or accounts payable manager. These jobs require leadership and communication skills because you’ll manage a team and oversee the accounts payable function.

Certifications and additional education

Obtaining professional certifications can boost your career prospects. Some popular certifications are the Certified Accounts Payable Professional (CAPP) or Certified Public Accountant (CPA). These certifications can give you a competitive edge in the job market and help you advance faster.

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Similar job titles

• Accounting Assistant
• Accounting Clerk
• Accounts Payable Clerk
• Accounts Receivable Clerk
• Bookkeeper
• Financial Analyst
• Certified Public Accountant

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Accounts payable specialist position trends and outlook

In recent years, the accounts payable field has been moving toward more automation and digital tools. This trend is leading to a growing demand for people with strong technical skills and adaptability. If you’re into technology and like finding efficient ways to do things, this field has plenty of opportunities for you.

These specialists are expected to use technology to make processes faster and more accurate. As companies look to cut costs and improve efficiency, those with strong analytical skills and attention to detail will be valued even more.

Employment projections

According to the U.S. Bureau of Labor Statistics, employment for bookkeeping, accounting, and auditing clerks is expected to decline by 5% through 2031. The main reason is automation, which allows companies to do more with fewer people. However, people with advanced technical skills and the ability to adapt to new software and systems will still be in demand. 

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Accounts payable specialist career tips

Stay current on best practices

The AP field changes with new technology and processes. Keep up with industry news by reading publications, attending webinars, and joining online discussions. This way, you’ll stay ahead of the curve and maintain efficient practices.

Build a professional network

Networking helps you learn from peers, stay updated on industry trends, and find job opportunities. Join professional associations and networks to connect with other finance professionals. Some good ones to start with include:

• Institute of Financial Operations (IFO)
• American Institute of Certified Public Accountants (AICPA)
• Association of Certified Accounts Payable Professionals (ACAPP)
• International Accounts Payable Professionals (IAPP)

Master accounting software and technology

You’ll use software to manage invoices, payments, and reports. Get comfortable with programs like QuickBooks, Microsoft Dynamics, and SAP. Stay updated on new tech and automation trends to improve efficiency.

Develop strong attention to detail

Accuracy is key in this role. Focus on catching errors, double-checking your work, and keeping organized records. An eye for detail can save your company from costly mistakes.

Improve communication and interpersonal skills

Good communication is crucial when dealing with vendors, colleagues, and management. Practice clear and professional communication, both in writing and verbally. It will help you work better with others.

Pursue continuous learning and professional development

Keep learning and expanding your skills through courses, certifications, and workshops related to accounts payable and finance. Consider focusing on areas like:

• Accounts payable processes and best practices
• Regulatory compliance and reporting requirements
• Cash management and forecasting
• Vendor management and negotiation
• Fraud prevention and detection

Cultivate a customer service mindset

You’ll often interact with vendors and colleagues. A customer service mindset—being responsive, helpful, and courteous—goes a long way in building strong relationships and a good reputation.

Develop analytical and problem-solving skills

You’ll need to analyze financial data and solve problems. Work on strengthening your analytical and problem-solving skills to identify issues and find solutions quickly. This makes you a valuable team member.

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FAQs