An AP clerk, or the accounts payable clerk is recruited with an aim to support the accounts department of an organization. The title of this position itself explains that this clerk is involved in the payments of various accounts either through cash or check, as per the situation. An individual working in this position helps the organization by avoiding any discrepancies in the accounts and accurate findings of the organizational expenses.
An accounts payable clerk is required to go through the accounts prepared by the accounting staff. Through these accounts, he identifies the various payable accounts and calculates the payable amount after deductions or additions, such as discount or late payment charges. He is solely responsible for verifying these accounts by crosschecking the figures in the receipts. He has to issue checks or pay off in cash to all the parties on or before the last date to avoid any inconvenience.
The payable accounts include, but are not limited to salaries, taxes, vendor payments, electricity overheads, transportation costs, etc. The AP clerk processes all these accounts and makes entries into the accounting books/software after the calculations and payments are done.
An accounts payable clerk also performs reconciliation of accounts when other accountants enter incorrect figures or posts in the ledger. While performing his job duties, the accounts payable clerk has to follow the accounting standards and principles to ensure accuracy of figures and posts in the accounts.
The roles and responsibilities of an AP clerk have been explained in detail for your reference.
Review Invoices and Accounts
The accounts payable clerk reviews the invoices and accounts to verify the details of the transaction. In case there is a difference in the amounts, he has to reconcile the accounts and make necessary entries.
Calculate Actual Payables
Some accounts are paid in full while other accounts can be paid in discount. This may includes purchases wherein the vendors may give a discount if the amount is paid within a specified period after the date of purchase. Alternately, payment of some accounts goes unnoticed and after a specific period, late fine is charged on the payable amount. In both these cases, the AP clerk is required to calculate the payable amount after deduction or addition.
Make Payments
The accounts payable clerk has to make all the payments either in cash, check, or through wire transfer. He makes records of all these payments and verifies if the payments have been credited to the receivers account in case of check payments or wire transfer.
Assist Accounting Staff and Auditors
The accounts payable clerk assists the accounting staff during month end and year end closing of accounts.
During the annual audit, an accounts payable clerk is required to provide the receipts to the auditors for verification.
As an AP cerk, a person should:
To become an accounts payable clerk, an individual should opt for a bachelor's degree in finance or accounts. This qualification needs to be combined with a minimum of an year's experience and/or passing the Uniform Certified Public Accountant Examination. However, individuals with an associate degree or even a high school diploma and extensive experience in accountancy are eligible for this job.
An AP clerk is entitled to an annual salary that can ranges between $20,000 to $35,000 excluding additional benefits. Just like the salary, the additional benefits also vary with every organization and job location.
The responsibilities of an accounts payable clerk may vary depending upon an individual's qualification and his tenure in this position.
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