Accounts Payable Specialist

Vaco by Highspring; Toronto; On-site; CAD 42,000 - 65,000; Full time

Job summary

Vaco by Highspring in Toronto seeks an Accounts Payable Specialist to monitor AP inboxes, review invoices and supporting documents, respond to vendor inquiries about payment status and balances, and ensure timely processing and accurate coding in the ERP system.

You will manage PO and non-PO invoices, attach documents, route for approvals, perform monthly reconciliations, maintain records across entities, and collaborate with internal teams and vendors to resolve discrepancies and maintain

Responsibilities

• Monitor and manage designated Accounts Payable email inboxes and communication channels.
• Review incoming invoices and supporting documentation for proper organization and processing.
• Respond to vendor inquiries about payment status, balances, and payment requests.
• Follow up with vendors to obtain missing information for invoice processing.
• Process AP invoices accurately within established timelines.
• Enter invoices into the ERP system and ensure correct coding and entity assignment.
• Route invoices through the approval workflow and monitor outstanding approvals.
• Perform monthly reconciliations of the AP subledger to the General Ledger.
• Prepare AP aging reports and payment schedules for management.
• Maintain organized AP records across multiple entities and ensure data integrity.

Job description

• Monitor and manage designated Accounts Payable email inboxes and communication channels.
• Review incoming invoices and supporting documentation and ensure they are properly organized and processed.
• Respond to vendor inquiries related to:
• Payment status
• Account balances and inquiries
• Payment requests
• Follow up with vendors to obtain missing information or documentation required for invoice processing.
• Monitor the Accounts Payable telephone queue and respond to AP-related inquiries.
• Escalate or redirect inquiries to the appropriate internal department when required.
• Process Accounts Payable invoices accurately and within established timelines.
• Receive, organize, and electronically file invoices received through various channels.
• Maintain organized invoice records by vendor, legal entity, and supporting documentation.
• Enter invoices into the company's accounting/ERP system and ensure they are coded and assigned to the appropriate entity and business unit.
• Process both:
• Non-purchase order invoices
• Purchase order invoices for goods or services that have been received
• Verify invoices for accuracy, including vendor information, amounts, coding, supporting documentation, and purchase order details.
• Attach invoices and supporting documentation to the appropriate accounting records.
• Route invoices through the applicable approval workflow.
• Monitor outstanding approvals and follow up with internal stakeholders when required.
• Post approved invoices in the accounting system.
• Work closely with internal departments and vendors to resolve discrepancies and ensure timely invoice processing.

Accounts Payable Aging & Payment Processing

• Prepare Accounts Payable aging reports and payment schedules in accordance with established procedures.
• Extract and organize AP data for payment review.
• Review outstanding invoices and identify payments requiring prioritization based on:
• Payment terms
• Business priorities
• Available funding
• Provide relevant notes and supporting information to assist management with payment decisions.
• Submit AP aging and payment reports for management review and approval.
• Process approved payment transactions for applicable payment runs and entities.
• Maintain accurate payment records and supporting documentation.
• Provide remittance details to vendors following payment processing.
• Respond to vendor inquiries regarding payment status and provide remittance documentation when required.

Corporate Credit Card Administration & Reconciliation

• Record corporate credit card transactions accurately and within established deadlines.
• Reconcile credit card accounts to ensure all transactions are properly recorded and supported.
• Monitor available credit limits across company cardholders.
• Identify potential funding or credit-limit issues in advance.
• Communicate anticipated funding requirements to management and assist with ensuring sufficient credit is available.

Fleet & Operating Expense Payment Monitoring

• Monitor company fleet and operating expense accounts for upcoming payment and funding requirements.
• Review available balances and anticipated payment activity.
• Provide advance notification to management when additional funding is required.
• Follow up to ensure funding transfers are completed within required timelines.

Monthly Reconciliations & Financial Controls

• Complete monthly reconciliation of the Accounts Payable subledger to the General Ledger.
• Investigate and resolve discrepancies between AP records and the General Ledger.
• Ensure outstanding balances and transactions are accurately recorded and properly supported.
• Prepare account reconciliations for management review and approval.
• Maintain appropriate documentation to support reconciliations, month-end close, and financial reporting.
• Assist with maintaining effective AP controls and procedures.

Purchase Order & Receiving Coordination

• Work closely with Purchasing, Inventory, Operations, and other internal teams to monitor purchase orders requiring invoicing.
• Prepare and distribute reports identifying outstanding purchase orders that have not yet been received or invoiced.
• Identify purchase orders where receiving or invoicing may be delayed.
• Follow up with appropriate internal stakeholders to resolve outstanding items.
• Assist with vendor and logistics follow-up to ensure:
• Goods and services are received within expected timelines.
• Purchase orders are properly received in the system.
• Vendor invoices are obtained.
• Invoices can be processed and paid within established payment terms.
• Ensure purchase order and AP records remain accurate and up to date.

General Accounts Payable Responsibilities & Internal Controls

• Maintain accurate, complete, and well-organized Accounts Payable records across multiple entities or business units.
• Ensure invoices and supporting documentation are processed in accordance with company policies and procedures.
• Maintain confidentiality and security of financial information.
• Ensure AP transactions are entered accurately and within required deadlines.
• Communicate effectively with vendors, management, and internal departments to resolve issues and prevent payment delays.
• Proactively identify outstanding invoices, discrepancies, duplicate payments, and potential payment issues.
• Assist with improving AP processes, procedures, reporting, and internal controls.
• Provide support for AP reporting, audits, month-end/year-end activities, and other financial requirements as requested.