Description
Here are the key duties and responsibilities of an Accounts Payable/Receivable Clerk:
1. Processing Invoices and Payments:
• Accounts Payable (AP): Review, verify, and process invoices for payment, ensuring they are accurate and complete.
• Accounts Receivable (AR): Generate and issue invoices to customers or clients, tracking payments and ensuring timely collection.
2. Maintaining Records:
• Accurately record and maintain financial transactions related to both accounts payable and receivable.
• Ensure that all records are organized, up-to-date, and easily accessible for audits or reporting purposes.
3. Reconciling Accounts:
• Reconcile bank statements, vendor accounts, and customer accounts to ensure all transactions are accurately recorded.
• Investigate and resolve discrepancies between records and statements.
4. Handling Vendor and Customer Communication:
• Communicate with vendors to resolve billing issues, discrepancies, or payment delays.
• Respond to customer inquiries regarding invoices, payments, and account statuses.
5. Processing Payments and Receipts:
• AP: Process payments to vendors via checks, electronic transfers, or credit cards, ensuring payments are made on time.
• AR: Record incoming payments from customers, whether by check, bank transfer, or credit card, and apply them to the correct accounts.
6. Managing Payment Schedules:
• Monitor due dates for invoices and prioritize payments to ensure timely and accurate disbursement of funds to vendors.
• Track customer payment deadlines and follow up on overdue accounts to ensure timely collection.
7. Generating Reports:
• Prepare regular reports on the status of accounts payable and receivable, including outstanding invoices, payments received, and pending payments.
• Assist in generating financial statements by providing accurate data on payable and receivable accounts.