Why We Love It
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$36,300Potential Avg. Salary
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12.9%Job Growth Rate
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Growing DemandJob Outlook
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Dependable Daily WorkloadCareer Attribute
The job of the accounts payable clerk is in charge of a diverse range of financial tasks whether it is credit control or payroll. As part of a finance team, you will help to compile and process invoices for the purpose of issuing payments in an organization. To do this work, one has to have good knowledge of general accounting tasks and software.
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What is an Accounts Payable Clerk?
Duties
As an Accounts Payable Clerk, you will need to carry out a wide range of tasks including the following:
- Interact with different vendors and respond to their issues or inquiries
- Track expenses and prepare around 200-300 invoices per week for processing
- Audit all credit card and expense reports for correct ledger distribution and speedy payments.
- Note down all financial transactions on ledgers, journals and other accounts
- Prepare appropriate paperwork for wire transfers to international or national accounts using both foreign currency or US dollars respectively.
Day In The Life
The day starts with you checking you emails and reverting to messages from clients with next steps or referring them to other staff members. It is your job to be the first point of contact for clients who email or call or come into the office for an appointment. You also provide an orientation to new clients with initial invoice templates and starter kits.
Most of your daily functions will involve reconciling and processing various invoices and updating records of expenses incurred. Based on your position, you may also have to take on duties as a supervisor and direct the rest of your team to be efficient.
A routine part of the work is undertaking detailed reviews of each vendor invoice you receive before issuing a payment. To do this, you will have to verify tax ID numbers, calculate line item changes, taxes and discount rates. When you identify an error and address it, you will then issue a check using the online payment system.
Work Schedule And Typical Hours
Hours per week at this job full-time averages about 37- 40 hours from Monday to Friday, from 9am -5pm. You will typically work in an indoors office environment at your desk or cubicle, that is well-lit and has most modern facilities. Most of your time will be spent in front of a computer although there will be certain client-facing tasks that requires you to meet them on-site or set an appointment at the office.
Growth Of The Job
Since accounting is an essential function for the success of any organization, growth in this field is expected to remain relatively steady. As an accounts payable clerk, you can progress to becoming a specialist in a certain area of accounting or transition into an accounts technician.
Eventually, with further qualifications, you can take on the role of a fully chartered accountant. As the majority of employers allow you to train for further qualifications during the work week and at night school post-office hours, it is beneficial to take advantage of the opportunity.
Typical Employers
An accounts payable clerk can choose to work in any number of professions. Employers include corporate businesses, traders, local authorities, non-profit organizations and academic institutions like colleges, schools or universities. Often, you can find jobs working in-house for a corporation or at an accountancy firm.
Some examples of employers are as follows: Elkins School District, JACAM Chemical Company, Cape Cod Healthcare, South Mountain Creamery, Inc., KapStone Paper and Packaging Corporation, Orthopedic Associates of Lancaster and Responsive Education Solutions.
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How To Become an Accounts Payable Clerk
A high school diploma is a good way to work towards a career as an accounts payable clerk. Alternatively, employers prefer higher grades of A-C for subjects like English and Mathematics. They may also require you to have a good score in accounting and other relevant subjects.
You are a perfect fit for this role if you prefer thinking logically and have advanced skills at working with numbers. Much of the work is lengthy and tedious, without much interaction with clients so you must be comfortable completing tasks independently without close supervision. It is great if you want to gain accounting experience without completing a graduate program first.
Prior experience that will prove useful includes familiarity with a wide range of computer applications like Microsoft Access or Excel, word processing as well as other database packages. You need to display a quick thinking and adaptable demeanor for this type of role.
Accounts Payable Clerk Salary Data
We’ve provided you the following to learn more about this career. The salary and growth data on this page comes from recently published Bureau of Labor Statistics data while the recommendations and editorial content are based on our research.
National Anual Salary
Low Range
$28,890Average
$36,300High Range
$50,240National Hourly Wage
Low Range
$14/hrAverage
$17/hrHigh Range
$24/hrHow do Accounts Payable Clerk salaries stack up to other jobs across the country? Based on the latest jobs data nationwide, Accounts Payable Clerk's can make an average annual salary of $36,300, or $17 per hour. This makes it an Above Average Salary. On the lower end, they can make $28,890 or $14 per hour, perhaps when just starting out or based on the state you live in.
Salary Rankings And Facts
#600 Nationally for All Careers
Highest Education Among Accounts Payable Clerks
- 0.5% Doctorate
- 2.5% Masters
- 14.5% Bachelors
- 13.6% Associates
- 36% College
- 29.8% High School
- 3.1% Less than High School
Job Growth Projections and Forecast
2014 Total Jobs
514,6002024 Est. Jobs
581,100Job Growth Rate
12.9%Est. New Jobs
66,500How does Accounts Payable Clerk job growth stack up to other jobs across the country? By 2024, there will be a change of 66,500 jobs for a total of 581,100 people employed in the career nationwide. This is a 12.9% change in growth over the next ten years, giving the career a growth rate nationwide of Below Average.
Growth Rankings And Facts
#134 Nationally for All Careers
What Companies Employ The Most Accounts Payable Clerks
| Industry | Current Jobs | New Jobs Needed | % Increase |
|---|---|---|---|
| Offices of physicians | 99,300 | 22,400 | 22% |
| Accounting, tax preparation, bookkeeping, and payroll services | 42,900 | 300 | 0% |
| General medical and surgical hospitals; private | 35,100 | 2,400 | 3% |
