Account Payable/Receivable Duties
Working in the accounting department of a company can be a rewarding career. With a fast-paced atmosphere and the constant demand of perfection, an accounts payable or accounts receivable position is ideal for someone who is consistent with details. The two positions must work closely together but in very different ways.
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Account Payable Main Duties
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The main responsibilities of an accounts payable clerk are overseeing the financial and administrative tasks of the company. Data entry, payment recording and maintaining financial records are just a couple of tasks that must be completed on a daily basis. An accounts payable position requires excellent computer skills because many companies rely heavily on certain programs and files accessed through their main system.
Accounts Payable Payroll Duties
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Payroll is an essential function of the accounts payable position. The duties include, but are not limited to, calculating salaries and verifying hours, vacation pay, holiday pay, sick time, personal days and deductions. Because payroll is a large portion of the position, it is imperative that the records and employee files are meticulously maintained. Payroll must be entered into the main system by a specific date to ensure payment delivery to employees. Check distribution and direct deposit are also set up through the accounts payable clerk.
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Accounts Payable Administrative Duties
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Because of the extensive payroll duties that the accounts payable clerk has to maintain, the administrative duties are minimal. Basic filing for financial records to ensure confidentiality and easy year-end access are the two main duties.
Accounts Receivable Main Duties
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An accounts receivable clerk's main duty is receiving payments within the company. Verification on all outgoing invoices and transaction statements must be approved through the accounts receivable clerk. Invoice preparation and follow-up are essential duties to ensure proper payment to the company. Similar to the accounts payable position, the accounts receivable clerk must maintain excellent financial records that are reported on a daily basis. In addition to mailing invoices to vendors, the clerk must also make collection calls and follow up with past-due accounts.
Accounts Receivable Payroll Duties
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The accounts receivable clerk is not responsible for payroll unless the accounts payable clerk is not able to perform the job function or needs assistance. During year-end closing, the accounts receivable clerk may be responsible for vacation, sick day and overtime verification. The clerk may also be responsible for year-end reports pertaining to employee wages.
Accounts Receivable Administrative Duties
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The administrative duties are more extensive for the accounts receivable position. Besides helping to maintain financial files, the receivable position also maintains inventory files and office supplies. Basic office duties are also a part of this position--greeting visitors and answering phones, maintaining office structure and completing receipts for walk-in payments.
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References
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