Electronic accounts payments processors assist with clients' and companies' financial transactions, making sure that payments are processed smoothly. They must respond to inquiries from any relevant parties (such as outside vendors and departments within their company) with accurate information in a timely manner. Additionally, electronic accounts payment processors must perform reconciliations as necessary and prepares invoices for payment in line with company standards. At times, the processor may need to be in contact with a third party, such as an insurance company; being able to use the phone and email applications is essential to communicate with all relevant parties, keeping mistakes to a minimum and avoiding delays in processing financial transactions.
Because processors work with money, attention to detail is necessary; mistakes can be damaging and cause delays, so it is important for the processor to be able to remained focused and on-task for long periods of time. Processors need to be organized and document their work to ensure they have accurate, up-to-date records of all transactions.
For most electronic accounts payment processor jobs, a high school diploma or equivalent is required; experience is generally needed as well. Some employers may prefer applicants have an associate's degree. Additionally, these professionals must be proficient with basic computer software and have good communication skills. Electronic accounts payment processors generally work full time during regular business hours in an office setting. This position is mostly sedentary and has minimal physical requirements.
Electronic Accounts Payment Processor Tasks
Conduct data entry and identify and isolate errors or discrepancies.
Review payroll, purchase requisitions, receipts, and maintain all documentation.
Maintain and review financial records to ensure completeness, accuracy, and compliance with regulations.
Monitor budgets and report overages or shortages.