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.
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