Accounts Payable Coordinator Salary
Job Description for Accounts Payable Coordinator
An accounts payable coordinator facilitates paying their organization's bills. They typically work in an accounting role and, as coordinator, supervise direct reports who handle incoming invoices that require payment be made.Read More...
One primary role of the accounts payable coordinator is to collect and verify all incoming invoices. As coordinator, this person likely has a staff of accounts payable administrators or associates tasked with checking and ensuring the veracity of incoming invoices with sources within and outside the company. These invoices are then paid by the coordinator in a time frame that conforms to the company’s payment policies and/or as required by the issuer of the invoice.
The accounts payable coordinator maintains all bank accounts needed to reconcile these payments as efficiently as possible; they also keep accurate records that may be reported to the rest of the accounting department. The coordinator also tracks invoices and payments due, prioritizing them according to the terms of the invoice. Additionally, they carefully monitor all payments made and maintain those records for potential future disputes or auditing.
As a coordinator, this individual often makes staffing and scheduling decisions. Some companies also require the coordinator to maintain a department budget including wages, supplies, and other incidentals. Accounts payable coordinators typically work in an office environment during regular business hours.
Many employers require either a bachelor’s degree in business or accounting for this position or education from a technical school with specialized training in accounts. It requires excellent organizational skills and knowledge of basic computer-based accounting programs.
Accounts Payable Coordinator Tasks
- Code incoming invoices and bills and log them on internal systems.
- Review receipts and records to reconcile discrepancies.
- Confirm appropriate approvals before processing invoices.
- Analyze account trends and routine transactions.
- Pay vendors, suppliers, and employees, and maintain records of each account.
Common Career Paths for Accounts Payable Coordinator
Accounts Payable Coordinators who transition into an Accounting Manager role may receive large pay increases as the latter position pays an average $61K per year. When Accounts Payable Coordinators are ready for the next step in their careers, they often become Accounts Payable Supervisors or Staff Accountants. Those roles pay an additional $6K and $5K, respectively.
Accounts Payable Coordinator Job Listings
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Popular Skills for Accounts Payable Coordinator
Accounts Payable Coordinators report using a deep pool of skills on the job. Most notably, skills in Reconciliation, Data Analysis, Microsoft Office, and Paying Invoices are correlated to pay that is above average. At the other end of the pay range are skills like Payroll Administration, Vendor Relations, and Accounting. Most people skilled in Accounts Payable are similarly competent in Microsoft Excel.
Pay by Experience Level for Accounts Payable Coordinator
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience does not seem to be a strong driver of pay increase in this role. Respondents with less than five years' experience take home $37K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $40K. The average pay reported by folks with 10 to 20 years of experience is around $41K. Accounts Payable Coordinators who surpass 20 years on the job report pay that isn't higher than those with 10 to 20 years.
Pay Difference by Location
For Accounts Payable Coordinators, Boston provides a pay rate that is 23 percent greater than the national average. Accounts Payable Coordinators will also find cushy salaries in Los Angeles (+10 percent), Dallas (+10 percent), New York (+9 percent), and Philadelphia (+8 percent). The lowest-paying market is Miami, which sits 8 percent below the national average. Two other places where employers offer below-median salaries are Tampa (4 percent less) and Nashville (2 percent less).