WHAT DOES AN AP SPECIALIST DO?

The Accounts Payable Specialist meticulously reviews invoices to ensure accuracy and compliance with lease agreements. They are responsible for clarifying details with the rent coordinator, entering invoice data into specified systems, and processing manual invoices while maintaining up-to-date vendor information. This role is crucial in fostering communication between the real estate department and landlords, aiding in reconciliations, and overseeing the digital storage of correspondence, thereby ensuring smooth operational flow.

A Review of Professional Skills and Functions for Accounts Payable Specialist

1. AP Specialist Duties

  • KPI Production: Responsible for producing weekly, monthly, and yearly AP KPIs.
  • Reconciliation and Monitoring: Reconciliation and monitoring of goods received not invoiced.
  • Invoice Coordination: Request the clusters to book invoices and credit notes if necessary.
  • Reporting: Generate open items report for the weekly AP team meeting.
  • Audit Support: Support internal and external auditing by providing the required documentation.
  • Payment Processing: Process of payments and transfer to internal systems.
  • GL Reconciliation: Reconcile all general ledger of Accounts Payable in SAP for all entities and closely.
  • Aging Monitoring: Monitor the aging with a reasonable explanation and solution of all open items for goods.
  • Change Management: Responsible for raising RFC (request for change) to HQ finance team.

2. AP Specialist Details

  • Invoice Review: Review invoices to ensure charges and descriptions are in accordance with lease documents and communicate with the rent coordinator if questions arise.
  • Data Entry: Enter invoice transactions into the AMT (lease administrator system) and/or AS400 AP system.
  • Invoice Processing: Process approved miscellaneous manual invoices sent to the real estate department.
  • Data Management: Gather sufficient and required data to maintain or update vendor changes in the billing system and assist the rent coordinator with the corresponding changes.
  • Document Upload: Upload invoices, ledgers, and landlord’s correspondence by store into AMT.
  • Communication Coordination: Communicate and transmit to the Real Estate department (in Hoffman Estates) landlord’s inquiries that require further assistance.
  • Reconciliation Assistance: Assist rent coordinator with landlord reconciliations, rent and year-end CAM balances by verifying invoices, and payment discrepancies.
  • Payment Information Provision: Provide landlord payment information such as check numbers or copies of checks issued when information is requested.
  • Digital Filing: Scan and digitally store paper correspondence received such as statements, invoices, and notices into AMT.

3. Accounts Payable Specialist Responsibilities

  • Invoice Processing: Checking incoming invoice processing (control AP bookings and payments).
  • Treasury Reporting: Prepare daily treasury reports.
  • Invoice Management: Responsible for invoice-related topics (vendor queries) in conjunction with SSC.
  • Payment Initiation: Initiate all outgoing payments (AP, AR, tax, payroll).
  • Bank Transactions: Manage bank clearing and bank uploads.
  • Travel Reimbursements: Manage travel reimbursement procedure (bookings, clearings).
  • Credit Card Management: Manage company credit card issues.
  • Invoicing Oversight: Handle invoicing-related topics (mismatch, reminders, approval).
  • Closing Support: Support the preparation of the monthly closing.
  • Audit Liaison: Work closely with internal audit and external auditors.
  • Banking Communication: Keep in contact with the bank.
  • Vendor Data: Manage vendor master data changes (bank account changes, blocking, etc.).
  • Project Participation: Participate/manage different projects (like a company credit card, expense reimbursement tool, SAP, etc.).

4. AP Specialist Job Summary

  • Leadership & Collaboration: Leading and collaborating with regional and functional teams to drive training across the Asia Pacific Services organization.
  • Training Delivery: Delivering scheduled weekly/monthly training for the AP region (CEC/FS).
  • Content Development: Working on content for enhancement and translation.
  • Vendor Management: Driving soft skill vendor Train The Trainer (TTT) sessions and content refresh.
  • Assessment & Reporting: Managing the assessment process, dashboard updates, Knowledge Base (KB), and LEAP enhancements.
  • Feedback Management: Collecting region feedback and implementing close looping practices.
  • Customer Insight Analysis: Analyzing Voice of Customer (VOC) to identify and prioritize opportunities for further improvement related to soft skills.
  • E-Classroom Promotion: Promoting e-classroom training with a focus on communications and engagement.
  • Collaboration with HQ: Working with the HQ training team to share feedback on tips and LEAP modules.

5. AP Specialist Accountabilities

  • Invoice Management: Process, review, and verify the accuracy of invoice information to ensure its validity.
  • Account Coding: Correctly code all vendor invoices to the appropriate GL accounts.
  • Vendor Management: Set up new vendors, collect W9s, and maintain the vendor master list.
  • Payment Processing: Obtain approvals and ensure timely payment.
  • Account Reconciliation: Reconcile account statements.
  • Customer Support: Address vendor and employee email requests as needed, providing the highest level of customer service to these stakeholders.
  • Tax Compliance: Prepare and issue annual 1099s.
  • Expense Auditing: Review employee expense reporting to ensure compliance with guidelines and coding accuracy.
  • Operational Support: Support other day-to-day operational accounting needs.
  • Audit Assistance: Assist with the annual financial audit process.
  • Process Improvement: Identify and propose changes to improve guidelines and procedures

6. AP Specialist Functions

  • AP Processing: Ensure timely processing of AP transactions utilizing Basware.
  • Invoice Review: Review of invoice receipts sent by vendors and internal users of Basware for accuracy of header details.
  • Workflow Management: Manage the workflow within Basware to assist internal users with invoices that are returned, rejected, or missing a recipient.
  • ERP Transfer: Review and clear invoices that are ready for transfer to the correct ERP.
  • Vendor Payments: Processes and completes the accurate and timely processing of all vendor payment requests.
  • Payment Cycle: Ensure the completeness of the payment cycle process.
  • ACH Monitoring: Monitor the bank and report for ACH returns.
  • Payment Resolution: Following steps to correct for the payment and determine a resolution for complete and accurate payment, ensuring proper accounting of the transaction.
  • Check Oversight: Reviews the check register, mail, and communications for checks that have been returned or not cashed.
  • Wire Procedures: Follows daily wire procedures for domestic and international currency.
  • Payment Communications: Monitoring the corporate payments email address for requests, ensuring proper approvals, entering in the Kyriba and Citibank BE sites, and communicating to the required distribution of the daily wires.
  • Discount Management: Ensure discounts/timely payments of vendor invoices by setting them up for weekly check runs.
  • AP Collaboration: Works closely with AP Analysts to ensure the correct limited pay cycle.
  • Inquiry Response: Respond to vendors, business, or department inquiries on transaction processing issues.

7. AP Specialist Job Description

  • Ledger Management and Sales Tax: AP responsibilities including ledger entries and sales tax.
  • Vendor Review: Review vendor statements.
  • Vendor Reconciliation: Reconcile vendor statements.
  • Process Improvement: Identify process improvements and report those to leadership.
  • Payment Processing: Compose and process check runs.
  • Policy Documentation and Implementation: Document and implement policies for AP.
  • Project Support: Back up to the Finance and Accounting team for unique projects.
  • AP Documentation Support: Support leadership with documentation of AP processes.
  • Data Management and Multitasking: High volume of data entry and ability to multi-task.
  • Month-End Assistance: Assist with month-end close as needed.
  • Microsoft Proficiency: Experience with Microsoft products.
  • Excel Skills: Navigate Excel to organize data.
  • Teamwork and Independence: Work as a team and independently.
  • Critical Thinking and Problem Solving: Critical thinker and problem solver.

8. Accounts Payable Specialist Overview

  • Process Management: End-to-end process for manufacturing and commercial entities.
  • Query Management: Suppliers' complex, language-dependent query management, including handling supplier reminders (Final).
  • Payment Review: Check, review, and validate payment proposals.
  • Audit Checks: Random/ad-hoc checking of AP postings.
  • Invoice Processing: Complex vendor invoice processing.
  • Reconciliation Verification: Check vendor reconciliations performed by Offshore SSC.
  • Issue Resolution: Raise issues for any AP activities and create AP accruals.
  • Offshore Coordination: Offshore Management - Aged item follow-up.
  • Process Training: Support the business and train team members in offshore understanding of end-to-end AP processes and systems/workflows.
  • Reconciliation Guidance: Review and provide guidance on AP reconciliations prepared by Offshore SSC.
  • Documentation Improvement: Document processes, and participate in process improvements.
  • Data Management: Vendor/supplier master data management.
  • Internal Communication: Communication with local business departments, suppliers, and external providers (auditor).
  • Escalation Handling: Handle escalation requests from Offshore SSC teams.

9. AP Specialist Details and Accountabilities

  • Invoice Reconciliation: Perform a three-way reconciliation on the invoices received by customers/suppliers.
  • Document Management: Responsible for keeping track of all documents timely and accurately in the ERP system.
  • Data Upkeep: Maintain all bank account details, contact details, etc., up to date.
  • Credit Management: Involved in managing applications to improve credit terms with the suppliers.
  • Expense Reporting: Reporting of operating expenses to the supervisor.
  • Accounts Payable Processing: Full cycle accounts payable processing high volume matching, batching, coding, scanning, and entering invoices in accordance with company guidelines.
  • Invoice Approval: Ensure that invoices are approved in a timely manner.
  • GL Accuracy: Ensure the accuracy of GL coding.
  • Payment Preparation: Assist in the preparation of weekly check runs and manual checks as needed.
  • File Organization: Organize and maintain all accounting-related files A/P reports, credit card statements, invoices, etc.
  • Inquiry Management: Manage the AP inbox, reviewing, and responding to internal and external inquiries.

10. AP Specialist Tasks

  • Vendor Communication: Reach out to vendors for any data currently missing from vendor profiles.
  • Payment Transition: Reach out to vendors currently paid by check and get bank details to move them to ACH payments.
  • AP Reconciliation: Research old items in the AP system that went on hold in previous years and were forgotten.
  • Invoice Assistance: Provide some invoice entries to help support the AP team.
  • Vendor Compliance: Obtain required W-9 information, TIN Matching, and Vendor setup.
  • Invoice & Payment Processing: Handle invoice processing and check issuance.
  • Tax Reporting: Manage 1099 Processing and expense reports.
  • Record Keeping: Maintain proper record keeping.
  • Office Management: Perform office duties by answering the phone, supplying orders, mailing, copying, and filing.
  • Confidentiality Handling: Ability to work with confidential information.
  • Project Management: Perform special projects.
  • Organizational Excellence: Demonstrate strong organizational skills and the ability to work effectively independently as well as with a team.
Relevant Information
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