Are you considering a career as a senior accounts payable specialist? Accounts payable can be a rewarding career path for someone who enjoys working with numbers and has exceptional attention to detail. To be considered for senior accounts payable specialist positions, the simplest path is to need to work your way up from accounts payable specialist. You’ll need to demonstrate the necessary skills, build an exceptional work history, and demonstrate leadership potential on the job. In some cases, senior accounts payable specialists are able to work remotely, but the vast majority of senior AP specialist jobs are in-house. To be successful in this position, you’ll need to be able to manage and train staff and delegate tasks as appropriate.
What Education Does a Senior Accounts Payable Specialist Need?
There are exceptions, but for the most part, a senior accounts payable specialist job will require a bachelor’s degree. Preferred majors are accounting, business, or another financially focused major.
How Much Do Senior Accounts Payable Specialists Make?
According to payscale.com, the average salary for a Senior AP Specialist is $57,500. Actual salary can vary with experience, location, and industry. For example, pay rates are higher in high cost of living areas like new York city and industries such as energy. Dallas, TX falls right around the national average.
Where Do Senior Accounts Payable Specialists Work?
Senior accounts payable specialists are needed across a wide variety of company sizes and industries, including energy, finance, technology, health care, manufacturing, and transportation. You can steer your career to your preferred environment by carefully selecting the places you work. Accounts payable is an increasingly technical field, so it’s important to be comfortable with the technology required to perform your job effectively and keep up with industry innovations.
What Experience Does A Senior Accounts Payable Specialist Need?
Senior accounts payable specialists typically reach this position by gaining experience as an accounts payable specialist, accounting clerk or office manager. At this level, employers will look for two to five years of related experience or training and ideally three or more years of accounts payable payment processing.
What Are the Qualifications For Senior Accounts Payable Specialists?
A senior accounts payable specialist needs several years of experience with accounts payable and experience with processing a high volume of complex invoices. A college degree is important to remain competitive in the field, but most employers are more concerned with a record of the right work experience with a history of achievement in prior relevant roles. Senior accounts payable specialist jobs require proficiency in standard office software and the ability to prioritize, multi-task, and manage deadlines. You’ll need to demonstrate attention to detail, and math, communication, and research skills. Most positions will require familiarity with accounting software such as SAP and the ability to read vendor invoices, general ledger accounts, and expense reports.
What Non-Accounting Skills Are Required For Senior Accounts Payable Specialists?
As a senior accounts payable specialist, you will need to have advanced accounting skills, but there are many soft skills or non-accounting skills that can set you up for success and set you apart from other applicants. You’ll need to be proficient in Microsoft Office Suite applications such as Word, Excel, and Outlook to augment the accounting or accounting-related software you’ll be working with, such as Oracle or concur. As mentioned above, you’ll need exceptional attention to detail and excellent time management skills. Successful candidates are able to work in a fast-paced environment both independently and as part of a team. You’ll be expected to handle multiple tasks effectively.
You should be self-motivated, proactive, and have the ability to work effectively under pressure. You’ll need strong communication skills, especially when you need to speak to senior-level individuals, often making yourself understood to those who don’t understand your department’s language, terminology, or priorities. You’ll need to be detail-oriented, and comfortable with appropriate computer hardware and software.
Other Skills Or Competencies Ideal For Successful Accounts Payable Specialists Include:
- Analytical mindset
- Customer service focus
- Strong interpersonal skills
- Integrity and dependability
- Administrative/organizational skills
- Able to prioritize and plan
- Committed to continuous improvement
- Accuracy and thoroughness
- Productive and deadline-driven
- Punctual and consistent in attendance
- Ability to follows instructions
What Does A Senior Accounts Payable Specialist Do on the Job?
As a senior accounts payable specialist, you will be responsible for overseeing the accounts payable department. You must be capable of resolving problems and addressing discrepancies by researching invoices and billing documents and communicating with vendors. You’ll be the go-to person in the accounts payable department, at least for questions or issues that don’t need to go to the accounts payable manager. You’ll take care of the more complicated or sensitive tasks in the department as well as guiding junior staff with financial transactions processing and supervising their performance. You’ll perform bank reconciliations and manage invoice release for vendors. You will also handle any vendor inquiries and concerns and resolve billing discrepancies. Senior accounts payable specialists need a strong understanding of accounting principles and must be organized and accurate. In this role, it’s essential to generate payments accurately and keep all financial records organized.
Responsibilities You May Have As A Senior Accounts Payable Specialist
Along with the general duties listed above, most senior accounts payable specialists will be expected to perform some, or all of the tasks listed below depending on the size of the company or department and the industry you work in.
Common duties for senior accounts payable duties include:
- Process vendor invoices or assist junior AP specialists.
- Provide support to vendors who have questions about payments, invoices and/or statements.
- Maintain W9 forms for all vendors in the system.
- Coordinate accounting functions.
- Manage balance sheet and income statement reconciliation projects.
- Compile and maintain accounts payable records.
- Audit all invoices for proper approval and coding prior to payment
- Prepare invoice deductions, as necessary.
- Prepare payable reports that are submitted to accounting.
- Cross-reference invoices to purchase orders and enter into ERP system for payment.
- Prepare and submit annual 1099-MISC forms to recipients.
- Remain in compliance with IRS rules and regulations.
- Prepare, process, and submit check files, wire transfers, and ACH payments
- Manage payroll garnishments to accurately comply with applicable state and municipal laws.
- Assist other team members, departments and with special projects as necessary.
- Analyze vendor accounts and negotiate extended terms with vendors.
- Code expenses to accounts and cost centers and to proper accounting periods by analyzing invoice/expense reports.
- Prepare monthly income projection for upper management and profitability analysis.
- Prepare weekly payments proposal for review by appropriate management.
- File maintenance and distribution of accounting documents, records, and reports in accordance with SOX requirements.
- Generate checks according to established company cash flow procedures and in compliance with Sarbanes-Oxley requirements.
- Analyze and prepare the monthly/quarterly payments to IRS for FICA/FUTA taxes
- Submit weekly, monthly, and quarterly Concur related reports
- Troubleshoot issues in Concur and submit tickets to Concur for resolution
What Comes After Senior Accounts Payable Specialist?
For senior accounts payable specialists looking to advance their careers further, the typical next step up the corporate ladder is to an accounting manager position. To be considered for this position, most employers will require seven or more years of experience with at least two years in a leadership role. You’ll need an exceptional ability to manage, coach, and motivate your team, as well as the ability to solve complex problems. Vendor management will be a large part of your job as an accounting manager. Candidates can expect compensation is to be $75k or more in this role.
What’s the Best Way To Find a Senior Accounts Payable Specialist Job?
Work with a financial recruiting agency. Partnering with financial recruiters can make it easier to find your ideal senior accounts payable job faster. Tell your recruiter about your experience, interests, and goals to get started. They will also want to hear about your preferred industries and the kind of company culture where you feel the most comfortable. Experienced financial recruiters get to know the employers they work with well, so they can tell you what it’s really like to work in each company and help you prepare to do well in client interviews. They’ll even speak to you after the interview to let you know what went well and how you can improve.
PrideStaff is the Accounting and Finance Recruiting Expert
The team at PrideStaff Dallas and G.A. Rogers & Associates has built trusting relationships with employers throughout the area and can help you to connect with decision-makers throughout the Dallas area. We have jobs for accounts payable specialists, senior accounts payable specialists, and accounting managers. You can find contract, contract-to-hire, and direct hire jobs as well as remote opportunities. Some jobs are not even advertised.
Start Your Senior Accounts Payable Specialist Job Search
If you’re looking for your next senior accounts payable specialist position in Dallas, TX, check out the currently available jobs on our job search board or connect with our team.
