"customer service," "data entry," and "purchase orders" aren't the only skills we found account payables analysts list on their resumes. In fact, there's a whole list of account payables analyst responsibilities that we found, including:
What Does an Account Payables Analyst Do?
An accounts payable analyst is primarily responsible for managing and processing invoices and payments, ensuring accuracy and timeliness. They are also responsible for coordinating with various departments to obtain and acquire data and invoices, submitting payments to external vendors and suppliers, identifying errors and inconsistencies, and providing corrective measures. One may also perform clerical tasks such as producing progress reports and presentations, managing schedules, addressing issues and concerns through calls and correspondence, and resolving them promptly and efficiently.
Account Payables Analyst Responsibilities
Here are examples of responsibilities from real account payables analyst resumes representing typical tasks they are likely to perform in their roles.
- Manage budget submissions by subsidiaries in Europe/AFNE region in Hyperion.
- Perform month end close activities such as account reconciliations and journal entries resulting in accurate financial statement reporting.
- Perform validation in ERP to ensure invoices not already paid.
- Maintain fixed assets in ERP system to report the correct depreciation monthly.
- Request current vendors to switch payment type from check to ACH and enroll in e-Invoicing for faster and more efficient processing.
- Coordinate ACH implementation/conversion to electronic payment system.
- Assist managers/timekeepers with various questions or concerns relate to payroll.
- Assist in preparation of financial statements by analyzing prepay expenses and recording accruals.
- Handle financial data and assist controller/plant manager with various accounting and payroll tasks.
- Coordinate system security controls and user permissions in PeopleSoft testing and production sites.
- Prepare quarterly documentation for cash distribution platforms and expense reconciliation to ensure SOX compliance.
- Maintain documentation and reports relate to all banking activity above in accordance with SOX requirements.
- Prepare and analyze historical data through PeopleSoft queries for AP metrics monitoring and data analysis.
- Facilitate communication for resolving outstanding balance sheet items suspense and accruals, and all unmatch open receipts.
- Perform Sarbanes-Oxley procedure testing surrounding all aspects of the business for the corporate site and other manufacturing locations.
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Account Payables Analyst Skills and Personality Traits
We calculated that 11% of Account Payables Analysts are proficient in Customer Service, Data Entry, and Purchase Orders. They’re also known for soft skills such as Computer skills, Integrity, and Detail oriented.
We break down the percentage of Account Payables Analysts that have these skills listed on their resume here:
- Customer Service, 11%
Provide customer service to internal and external customers when addressing any discrepancies or issues with invoices and/or other pertinent documents.
- Data Entry, 6%
Provided accounting and data entry support related to cash receipts/revenue.
- Purchase Orders, 5%
Investigate and resolve problems associated with processing of invoices and purchase orders communicating resolution of discrepancies to appropriate persons.
- Reconciliations, 5%
Performed month end close activities such as account reconciliations and journal entries resulting in accurate financial statement reporting.
- Vendor Invoices, 5%
Processed vendor invoices for payment on-line which improved efficiency and exceeded expectations for Detroit Diesel.
- Expense Reports, 4%
Processed departmental account payable Performed weekly check runs Balanced daily reports to track productivity Tracked expense reports and disbursement
The three companies that hire the most prestigious account payables analysts are:
- SMX Convention Center51 Account Payables Analysts Jobs
- Robert Half18 Account Payables Analysts Jobs
- CVS Health4 Account Payables Analysts Jobs
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What Senior Accounting Clerks Do
Senior Accounting Clerks lead in a complex set of work staff and are responsible for performing governmental fund accounting that involves reporting and financial record keeping. They are responsible for resolving discrepancies, verifying and auditing financial reports, and inputting data into their financial accounting system. They must know methods of verifying and reconciling accounting records, accounts payable and receivable, and how to familiarize themselves with their firm's financial accounting software. They must also be skilled in handling large sums of cash with integrity and making manual arithmetical calculations with speed and accuracy.
In this section, we take a look at the annual salaries of other professions. Take senior accounting clerk for example. On average, the senior accounting clerks annual salary is $7,825 lower than what account payables analysts make on average every year.
While the salaries between these two careers can be different, they do share some of the same responsibilities. Employees in both account payables analysts and senior accounting clerks positions are skilled in data entry, purchase orders, and reconciliations.
There are some key differences in responsibilities as well. For example, an account payables analyst responsibilities require skills like "customer service," "erp," "strong analytical," and "journal entries." Meanwhile a typical senior accounting clerk has skills in areas such as "credit card payments," "financial data," "customer accounts," and "accounts receivables." This difference in skills reveals how truly different these two careers really are.
Senior accounting clerks receive the highest salaries in the finance industry coming in with an average yearly salary of $54,607. But account payables analysts are paid more in the energy industry with an average salary of $66,023.
The education levels that senior accounting clerks earn is a bit different than that of account payables analysts. In particular, senior accounting clerks are 3.6% less likely to graduate with a Master's Degree than an account payables analyst. Additionally, they're 0.1% less likely to earn a Doctoral Degree.
What Are The Duties Of an Analyst?
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Now we're going to look at the analyst profession. On average, analysts earn a $18,651 higher salary than account payables analysts a year.
While the salary may be different for these job positions, there is one similarity and that's a few of the skills needed to perform certain duties. We used info from lots of resumes to find that both account payables analysts and analysts are known to have skills such as "customer service," "data entry," and "erp. "
But both careers also use different skills, according to real account payables analyst resumes. While account payables analyst responsibilities can utilize skills like "purchase orders," "reconciliations," "vendor invoices," and "expense reports," some analysts use skills like "troubleshoot," "data analysis," "management system," and "project management."
On average, analysts earn a higher salary than account payables analysts. There are industries that support higher salaries in each profession respectively. Interestingly enough, analysts earn the most pay in the technology industry with an average salary of $79,330. Whereas, account payables analysts have higher paychecks in the energy industry where they earn an average of $66,023.
In general, analysts study at similar levels of education than account payables analysts. They're 4.9% more likely to obtain a Master's Degree while being 0.1% more likely to earn a Doctoral Degree.
How an Account Associate Compares
An account associate is responsible for supporting the accounting and finance department in performing accounting operations, bookkeeping functions, and other related clerical tasks. Account associates analyze and sort financial statements accordingly, assist on payroll processing, evaluate account reconciliations and receivables, create financial reports, and updating recent account information on the database. They also handle clients' inquiries and concerns, routing calls to the appropriate accounting staff or department. An account associate must have excellent analytical and communication skills, as well as comprehensive knowledge of the accounting principles.
The account associate profession generally makes a lower amount of money when compared to the average salary of account payables analysts. The difference in salaries is account associates making $5,429 lower than account payables analysts.
Using account payables analysts and account associates resumes, we found that both professions have similar skills such as "customer service," "data entry," and "reconciliations," but the other skills required are very different.
Some important key differences between the two careers are a few of the skills necessary to fulfill responsibilities. Some examples from account payables analyst resumes include skills like "purchase orders," "vendor statements," "erp," and "strong analytical," whereas an account associate might be skilled in "work ethic," "strong work ethic," "develop leads," and "patients. "
Interestingly enough, account associates earn the most pay in the finance industry, where they command an average salary of $48,877. As mentioned previously, account payables analysts highest annual salary comes from the energy industry with an average salary of $66,023.
Account associates are known to earn similar educational levels when compared to account payables analysts. Additionally, they're 0.5% more likely to graduate with a Master's Degree, and 0.1% more likely to earn a Doctoral Degree.
Description Of an Accounting Associate
An accounting associate is responsible for supporting the operations of the accounting department, ensuring the stability of the financial services and status of an organization. Accounting associates process invoices, update client accounts on the database, manage financial reports, assist with tax auditing and processing, monitoring the financial statements and activities of the organization, escalate financial disputes, and verify accounts receivable. An accounting associate must have excellent knowledge of the accounting industry, as well as exceptional analytical and time-management skills to perform clerical duties as needed under minimal supervision.
Now, we'll look at accounting associates, who generally average a lower pay when compared to account payables analysts annual salary. In fact, the difference is about $3,819 per year.
While their salaries may vary, account payables analysts and accounting associates both use similar skills to perform their jobs. Resumes from both professions include skills like "customer service," "data entry," and "purchase orders. "
Each job requires different skills like "erp," "strong analytical," "journal entries," and "pivot tables," which might show up on an account payables analyst resume. Whereas accounting associate might include skills like "work ethic," "powerpoint," "balance sheet," and "cpa."
Accounting associates earn a higher salary in the finance industry with an average of $52,406. Whereas, account payables analysts earn the highest salary in the energy industry.
Accounting associates reach similar levels of education when compared to account payables analysts. The difference is that they're 0.3% more likely to earn a Master's Degree less, and 0.0% less likely to graduate with a Doctoral Degree.
Types Of Account Payables Analyst
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