Loan clerk vs accounts payable clerk

The differences between loan clerks and accounts payable clerks can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a loan clerk, becoming an accounts payable clerk takes usually requires 4-6 years. Additionally, an accounts payable clerk has an average salary of $38,333, which is higher than the $26,552 average annual salary of a loan clerk.

The top three skills for a loan clerk include customer service, loan payments and financial data. The most important skills for an accounts payable clerk are customer service, data entry, and purchase orders.

Loan clerk vs accounts payable clerk overview

	Loan Clerk	Accounts Payable Clerk
Yearly salary	$26,552	$38,333
Hourly rate	$12.77	$18.43
Growth rate	-3%	-5%
Number of jobs	75,101	89,564
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 46%
Average age	42	51
Years of experience	4	6

Loan clerk vs accounts payable clerk salary

Loan clerks and accounts payable clerks have different pay scales, as shown below.

	Loan Clerk	Accounts Payable Clerk
Average salary	$26,552	$38,333
Salary range	Between $19,000 And $35,000	Between $30,000 And $48,000
Highest paying City	Newark, NJ	Washington, DC
Highest paying state	California	Massachusetts
Best paying company	UFCU	Jane Street
Best paying industry	Finance	Technology

Differences between loan clerk and accounts payable clerk education

There are a few differences between a loan clerk and an accounts payable clerk in terms of educational background:

	Loan Clerk	Accounts Payable Clerk
Most common degree	Bachelor's Degree, 40%	Bachelor's Degree, 46%
Most common major	Business	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Loan clerk vs accounts payable clerk demographics

Here are the differences between loan clerks' and accounts payable clerks' demographics:

	Loan Clerk	Accounts Payable Clerk
Average age	42	51
Gender ratio	Male, 16.9% Female, 83.1%	Male, 17.2% Female, 82.8%
Race ratio	Black or African American, 12.9% Unknown, 4.7% Hispanic or Latino, 14.6% Asian, 7.0% White, 60.3% American Indian and Alaska Native, 0.5%	Black or African American, 6.9% Unknown, 4.0% Hispanic or Latino, 14.7% Asian, 6.6% White, 67.2% American Indian and Alaska Native, 0.6%
LGBT Percentage	7%	7%

Differences between loan clerk and accounts payable clerk duties and responsibilities

Loan clerk example responsibilities.

Manage A/R transactions, prepare weekly account reconciliation's, perform research/ adjustments on A/P and A/R discrepancy accounts.
Monitor UCC filings and updates.
Prepare SBA loans using WordPrefect.
Record UCC filings on-line and by mail.
Review loan files, facilitate and verify loss mitigation application request, determine eligibility for clients requesting foreclosure financial assistance.
Work with HUD the VA and FHA to make sure all requirements are completed.

Accounts payable clerk example responsibilities.

Manage revenue ledger including other subsidiary ledgers and responsible for the reconciliation of various income accounts to ensure accuracy of postings.
Match, code, and process vendor payments via MAS90 accounting system - including check runs and ACH payments.
Perform duties in compliance with GAAP, company and department policies and procedures, internal controls, and Sarbanes-Oxley requirements.
Process division payroll in coordination with ADP payroll systems for semi-monthly and weekly union contract employees.
Scan and store documents daily, retrieve W2 and W9 information along with service provider agreements when or if need.
Print, review, research, edit, code and batch invoices for processing via the various ERP financial systems.

Loan clerk vs accounts payable clerk skills

Common loan clerk skills

Customer Service, 22%
Loan Payments, 12%
Financial Data, 10%
Mortgage Loans, 5%
Credit Reports, 4%
General Ledger Accounts, 3%

Common accounts payable clerk skills

Customer Service, 13%
Data Entry, 10%
Purchase Orders, 8%
Expense Reports, 6%
Vendor Invoices, 6%
Vendor Statements, 5%

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Loan Clerk
Loan Clerk vs Accounts Payable Clerk

Updated January 8, 2025

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