Careers

What You Need To Know About Accounts Payable Clerk Salary

accounts payable clerk
Written by Godwin Ekpo

Payroll and credit control are just two of the many financial duties that an accounts payable clerk is responsible for. You will assist in gathering and processing invoices as a member of a finance team in order to issue payments inside a business. One needs a thorough understanding of software and general accounting chores to perform this work.

Read: The Best Tax Lawyer Career Path

Duties of an Account Payable Clerk

You will be required to perform a variety of duties as an accounts payable clerk, including the following:

  • Interact with various merchants and address any problems or questions they may have
  • Keep records of expenditures and create 200–300 invoices each week for processing.
  • Verify the accuracy of ledger distribution and the promptness of payments on all credit card and expense reports.
  • All financial transactions should be recorded in ledgers, journals, and other accounts.
  • Prepare the necessary documentation for wire transfers using foreign currency or US dollars to national or international accounts, accordingly.

How the Job Goes

You check your emails first thing in the morning, then you read customer communications and respond with the appropriate next steps or staff members. When a client emails, calls or comes into the office to make an appointment, it is your responsibility to be their initial point of contact. Along with first invoice templates and startup packages, you also provide new clients with an orientation.

The majority of your daily tasks will involve processing, reconciling, and updating records of expenses incurred. Depending on your position, you might also be required to supervise the other members of your team and give them instructions on how to work effectively.

Before making a payment, you must routinely do thorough assessments of each vendor invoice you receive. You will need to perform the following to accomplish this: confirm tax ID numbers; compute line item adjustments, taxes, and discount rates. You will use the online payment system to issue a check after you find and fix an error.

Schedule For Work and Typical Hours

This job requires a full-time work week of 37 to 40 hours, Monday through Friday, from 9 am to 5 pm. Normally, you’ll work at a desk or cubicle in an indoor office setting that is well-lit and equipped with modern conveniences. The majority of your time will be spent in front of a computer, but there will be some client-facing responsibilities that call for you to visit them in person or schedule an appointment.

The Jobs Growth

The success of any firm depends on the accounting, hence this industry’s growth is anticipated to be rather constant. You can advance as an accounts payable clerk to become an expert in a particular area of accounting or change careers to become an accounts technician. You can become a fully chartered accountant in the future with further credentials. It is advantageous to take advantage of the chance because most jobs allow you to attend night school after office hours and train for additional certifications during the workweek.

Common Employers

An accounts payable clerk has a wide range of career options. Corporations, traders, local governments, non-profits, and academic institutions including colleges, schools, and universities are examples of employers. Jobs working internally for a company or at an accounting firm are frequently available. Elkins School District, JACAM Chemical, Cape Cod Healthcare, South Mountain Creamery, Inc., KapStone Paper and Packaging, Orthopedic Associates of Lancaster, and Responsive Education Solutions are a few examples of employers.

Accounts Payable Clerk Career

A profession as an accounts payable clerk can be pursued with a high school certificate. Instead, for topics like English and mathematics, employers want better grades of A-C. Additionally, you can be expected to have strong grades in accounting and other pertinent courses.

If you prefer to think logically and have advanced numerical skills, you are a perfect fit for this position. You must feel at ease working independently without constant supervision because much of the work is time-consuming and tedious and involves little interaction with clients. If you want to learn accounting without first completing a graduate program, this is fantastic.

Prior knowledge of a variety of computer programs, such as Microsoft Access or Excel, word processing, and other database products will be helpful. For this kind of position, you must exhibit fast thinking and an adaptable attitude.

The salary of an Account Payable Clerk

The data regarding the salary of an account payable clerk is gotten from the Bureau of Labor Statistics. The average national salary for this job is $36,300 while the average national wage per hour is $17.

How much money do Accounts Payable Clerks make compared to other jobs?

According to the most recent statistics on employment across the country, Accounts Payable Clerks can earn an average yearly salary of $36,300, or $17 per hour. It is therefore a salary above average. When just starting out or depending on the state you live in, they may make as little as $28,890, or $14 per hour.

How has the growth of employment for Accounts Payable Clerks compared to that of other jobs?

For a total of 581,100 people working in the field nationwide by 2024, there will be a change of 66,500 jobs. This represents a 12.9% change in growth over the subsequent ten years, giving the career a below-average growth rate nationally.

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Godwin Ekpo

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