Accounts Payable Processor Salary
Accounts Payable Processors in the United States pull down an average of $15.86 per hour. Residence is the biggest factor affecting pay for this group, followed by career duration. Most Accounts Payable Processors report high levels of job satisfaction. Female Accounts Payable Processors far outnumber their male contemporaries among survey respondents. Not all workers are lucky enough to have benefits; in fact, close to a fourth are without coverage. Medical insurance is claimed by a strong majority and dental insurance is reported by the larger part. This snapshot results from replies to PayScale's salary survey.
Job Description for Accounts Payable Processor
Accounts payable processors are responsible for managing and reviewing outgoing payments made by their organization. Their primary duties are to ensure orders and invoices are reconciled by checking that all items are received and paid for. This involves working with vendors to determine invoice status, making payments for (or returning) non-invoiced items, and ensuring the delivery of missing items. Accounts payable processors make payments and keep an accounts payable journal in line with standard accounting practices. They work closely with other departments such as procurement and receiving to investigate shipment and invoice information to resolve disputes with vendors. Some accounts payable processors may also manage travel reimbursements and other internal payments to organization employees.Read More...
Accounts payable processors generally work full time in an office environment. The majority of accounts payable processors’ time is spent analyzing invoices and payment processing information, as well as working with vendors to resolve payment issues. These processors work with other financial departments - as well as shipping and receiving - in the course of their duties. In larger companies, accounts payable processors work with a team of accounts payable personnel; in smaller organizations, they may serve as the primary handler of accounts payable under the supervision of a senior accounting manager.
A high school diploma or equivalent is required for this position. An associate’s degree in finance or a related field is needed for some positions. Proficiency in basic office software such as Microsoft Office products are needed, as well as math skills. Two or more years of accounts payable experience is typically required.
Accounts Payable Processor Tasks
- Issue stop-payments or purchase order amendments.
- Record, code, and process all invoices for payment.
- Prepare, enter and maintain filing of Accounts Payable.
- Perform timely account reconciliation by verifying entries and comparing to balances.
Common Career Paths for Accounts Payable Processor
Accounts Payable Processors may progress into high-paying roles like Senior Accountant, where median compensation is $60K annually. Accounts Payable Processors most often move into positions as Accounts Payable Specialists or Accounts Payable Supervisors; those groups report median salaries that are $2K higher and $10K higher, respectively.
Accounts Payable Clerk Job Listings
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Popular Skills for Accounts Payable Processor
Accounts Payable Processors report using a diverse set of skills on the job. Most notably, skills in Accounts Payable, Microsoft Excel, SAP SAP Financial Accounting and Controlling, and Microsoft Office are correlated to pay that is above average. At the other end of the pay range are skills like Data Entry and Accounts Receivable. Those proficient in Accounts Payable are, more often than not, also skilled in Microsoft Office and Data Entry.
Pay by Experience Level for Accounts Payable Processor
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Accounts Payable Processors, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. Salaries of relatively inexperienced workers fall in the neighborhood of $33K, but folks who have racked up five to 10 years see a notably higher median of $37K. Accounts Payable Processors with one to two decades of relevant experience report an average salary of approximately $37K. Ultimately, more time spent in the workforce does seem to translate to bigger paychecks; seasoned veterans with more than 20 years of experience report a median income of $39K.