Accounts Payable Specialist

Prime System Solutions; Lahore; On-site; PKR 1,200,000 - 1,800,000; Full time

Job summary

A financial services company in Lahore is seeking an experienced Accounts Payable Specialist to oversee payment processes and ensure accurate financial records. The ideal candidate will have a Bachelor's degree in Accounting and over 4 years of relevant experience. This role requires strong analytical skills, attention to detail, and proficiency in NetSuite. You will collaborate with teams and maintain effective vendor relationships while adhering to best practices in accounts payable.

Qualifications

• Minimum of 4+ years of professional experience.
• Strong understanding of accounts payable processes and best practices.
• Ability to work both independently and collaboratively.

Responsibilities

• Manage the full accounts payable cycle.
• Process and review vendor invoices for accuracy.
• Collaborate with internal departments to resolve payment-related issues.

Skills

Interpersonal Skills

Attention to detail

Strong analytical abilities

Effective communication

Proficiency in accounting software

Time management

Education

Bachelor's degree in Accounting, Finance, or Business Administration

Tools

NetSuite

Microsoft Excel

CRM systems

Job description

Job Title: Accounts Payable Specialist

Work Schedule: American (EST)

Work Arrangement: Onsite/Hybrid

• Please apply for the role if you have relevant experience for this role and are fluent in English
  
  

Job Overview: The Senior Accounts Payable Specialist manages the payment process, verifies and processes invoices, and ensures timely and accurate payments to vendors and suppliers. This role involves maintaining accurate financial records, reconciling accounts, resolving payment discrepancies, and collaborating with internal departments and external vendors.

Key Responsibilities:

• Understand and follow the client. This is our set of standards and processes that produce a predictable result for the client. You must be aware of and maintain our standards
• Manage the full accounts payable cycle
• Process and review vendor invoices for accuracy, completeness, and adherence to company policies and procedures
• Verify and match invoices with purchase orders and receiving documentation to ensure proper authorization and receipt of goods or services
• Code and enter invoices into the accounting system accurately and promptly
• Reconcile vendor statements and resolve any discrepancies or outstanding issues
• Process and prepare payment runs, including checks, electronic transfers, and ACH payments, ensuring accuracy and adherence to payment terms
• Oversee approvals of expense reports and the credit card program
• Collaborate with internal departments to obtain necessary approvals and resolve any invoice or payment-related issues
• Handle and resolve complex inquiries by the accounts payable team
• Respond to vendor inquiries and resolve payment discrepancies in a professional and timely manner
• Develop and maintain metrics that demonstrate the performance of the team and areas for development/efficiency
• Assist in month-end and year-end closing activities, including preparing accruals and reconciling accounts payable balances
• Maintain organized and accurate accounts payable records and documentation
• Stay up to date with accounts payable best practices and changes in accounting regulations
• Assist Finance leadership in the analysis of AP-related information, contributing to strategic decision-making
• Provide guidance and mentorship to other accounts payable specialists (s) on the team
  
  

Additional Responsibilities

• Maintain accurate and real-time timesheets
• Receive mentoring and feedback from peers and others
• Where appropriate, escalate complicated issues to a more senior resource or other appropriate teams
• Actively Participate in Team Huddles, L10 Meetings, One-on-One Meetings, and any other Team Meetings
• Attend training & team meetings as required
• Ensure work aligns with client standards
• Assist client team members as required
• Maintain constant and clear communication with clients and colleagues
• Collaborate with all client departments to maximize client satisfaction
• Continuously provide feedback to help improve processes and procedures to provide superior service
• Provide or facilitate timely responses and guidance to client requests
• Maintain documentation, processes, and standards through the change management processes
• Maintain an in-depth knowledge of the products and services that are offered
• Additional duties as required
  
  

Requirements

• Bachelor's degree in Accounting, Finance, or Business Administration
• Minimum of 4+ years of professional experience
• Interpersonal Skills: Good interpersonal skills to build professional relationships, resolve conflicts, and effectively communicate financial information to non-financial stakeholders
• Strong understanding of accounts payable processes, principles, and best practices
• Strong understanding of Net suit, US taxation, and GAAP
• Proficiency in using accounting software and systems
• Attention to detail and a high level of accuracy in data entry and processing
• Excellent organizational and time management skills
• Strong analytical and problem-solving abilities
• Effective communication and interpersonal skills
• Ability to work both independently and collaboratively in a team environment
• Knowledge of basic accounting principles and practices
• Familiarity with tax regulations and reporting requirements related to accounts payable is a plus
• Detail-Oriented:
• Ability to spot inconsistencies in invoices, payments, and account records
• Strong organizational skills to manage multiple accounts simultaneously
• Accounting Knowledge:
• Understanding of basic accounting principles, particularly accounts receivable
• Experience in accounts receivable and collection efforts
• Research and Analytical Skills:
• Capable of researching and resolving billing discrepancies and payment issues
• Ability to analyze account histories and identify trends or issues in payment behaviors
• Communication Skills:
• Strong written and verbal communication to effectively follow up with clients
• Ability to explain financial concepts and account details to non-financial clients
• Technical Skills:
• Proficiency in accounting software Net NetSuite/ConnectWise
• Advanced skills in Microsoft Excel for reporting and data analysis
• Experience with CRM systems for managing customer interactions
• Time Management:
• Ability to prioritize tasks, meet deadlines, and handle high-volume workloads efficiently
• Problem-Solving Abilities:
• Proactive in identifying issues and developing strategies to resolve them
• Capable of handling escalated situations with diplomacy and professionalism