An accounts payable coordinator handles payments sent out by a company. Accounts payable coordinators receive and reviews invoices from vendors and makes sure the company’s records match the cost of the bill. If everything is in order, accounts payable coordinators pay the bill. The coordinator often uses computers and accounting software to assist with this process.
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Accounts payable coordinators keep a close eye on their company’s budget and overall spending. They work in a wide array of industries, from government agencies to banks to hotels to hospitals and automobile dealerships. Their main task is to make certain bills are paid quickly and accurately, and that services and goods delivered to their business cost as much as promised. Accounts payable coordinators often handle related duties as well, including tax matters. They tend to work alongside accounts receivable coordinators, as collecting from customers goes a long way in helping their company pay its own bills.
Accounts payable coordinators must be expert mathematicians and pay close attention to detail. They need to be highly analytical, organised, capable problem solvers and motivated. They also need to work well independently and possess sound communication skills to interact with vendors, management and co-workers. On top of those things, accounts payable coordinators should have a firm understanding of computers and accounting-related software needed to perform the job.
Accounts payable coordinators typically need to have received their bachelor’s degree in accounting before being hired. Occasionally, they will also want to obtain a license as a Certified Public Accountant (CPA) for the purpose of advancement--although it is not usually a requirement. Areas of study for accounts payable coordinators typically include math, finance, economics, business, administration and, of course, accounting. Some companies may only require their accounts payable coordinators to possess an associate degree, allowing them to learn on the job.
Accountants are likely to see their prospects increase considerably during the next decade. According to the U.S. Bureau of Labor Statistics (BLS), jobs for accountants will grow by 22 per cent from 2008 through 2018, which is much faster rate than all other occupations during the same time frame. The BLS reported that about 1.3 million workers held jobs as accounts in May 2008, although that number was not specific to accounts payable coordinators.
Accounts payable coordinators earned anywhere from nearly £20,800 to more than £27,300 in April 2010, PayScale.com reported. The highest earners are typically those with degrees and certification, as well as experience.
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