The accounts payable supervisor oversees bill payment functions, maintains records, works with vendors, prepares financial reports, and has a minimum of four years of college education and five to ten years of work experience in finance and business accounting. Salary ranges depend on job responsibility and company size.
In the field of business, there are many challenging roles that require skilled professionals to handle complex financial responsibilities. One such role is the accounts payable supervisor, the primary person who oversees the company’s accounts payable or bill payment functions. This professional ensures that all invoices, taxes, tariffs, expenses and fees are paid in a timely manner in order to keep a business in good standing.
An accounts payable supervisor oversees the maintenance of an organization’s accounts payable records. This can include recording invoices and other amounts owed to third parties throughout the month. It also schedules payments according to payment terms set out in agreements with third parties to avoid late fees or credit issues.
In addition to typing invoices for payment, this person works closely with vendors to ensure invoice amounts are correct prior to processing. This may involve reviewing contracts, negotiating with third parties and managing special requirements with suppliers so that payment can be allocated efficiently. The supervisor may also be responsible for calculating discounts to save the company money.
The accounts payable supervisor ensures that expense reports are properly coded, prepares and approves receipts for payment, and verifies that payment is issued accurately and in a timely manner. After invoices and other proof of payment are reviewed, it is usually up to the individual to arrange for executive management approval and signatures on checks and other forms of payment.
Depending on an organization’s policies, an accounts payable supervisor will generally be responsible for executing periodic financial reports. Reports can indicate whether a company’s profitability is lagging behind expenses. The supervisor will have the necessary knowledge and experience to determine this, examining each section of the financial reports and then making adjustments to payment terms or processing methods to balance the company’s portfolio.
In general, the position will require a minimum of four years of college or university. In addition, the supervisor may have between five and ten years of work experience in finance and business accounting, as well as a general knowledge of government regulations and tax laws. Salary ranges for the job are in the mid-earnings range, depending on the size of the company and scope of job responsibility.
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