As an Accounts Payable/Receivable Clerk, your role is to assist in the financial operations of an organization by managing the accounts payable and accounts receivable functions. You are responsible for processing invoices, recording financial transactions, and ensuring timely payments to vendors and collection of payments from customers.

Your job description may vary depending on the industry and the specific organization you work for, but generally, it includes the following responsibilities:

Accounts Payable:

1. Invoice Processing: Receive, review, and process vendor invoices for payment. Verify the accuracy of invoices, ensuring that they match purchase orders and delivery receipts. Code invoices with appropriate expense accounts and obtain necessary approvals.

2. Payment Processing: Prepare and process payment batches, including checks, electronic transfers, or online payments, ensuring accuracy and adherence to payment terms. Coordinate with vendors to resolve any payment discrepancies or issues.

3. Vendor Management: Maintain vendor records, including contact information, payment terms, and contract details. Respond to vendor inquiries regarding invoice status, payment delays, or other payment-related matters. Build and maintain positive relationships with vendors.

4. Expense Reconciliation: Reconcile vendor statements with accounts payable records to ensure all invoices have been accounted for and paid. Investigate and resolve discrepancies or outstanding balances.

5. Financial Reporting: Generate accounts payable reports, such as aging reports, payment reports, or expense reports, to provide insights into cash flow, outstanding liabilities, and vendor performance. Assist in month-end closing procedures and contribute to financial reporting activities.

Accounts Receivable:

1. Invoicing and Billing: Generate and send customer invoices accurately and in a timely manner. Ensure invoices include all necessary information, such as products or services provided, pricing, terms, and due dates.

2. Payment Collection: Monitor accounts receivable balances and follow up with customers regarding overdue payments. Initiate collection efforts, send payment reminders, and facilitate communication to resolve payment issues.

3. Payment Application: Record and apply customer payments accurately to the appropriate customer accounts. Reconcile payment discrepancies, identify and resolve unapplied or unidentified payments.

4. Customer Relationship Management: Maintain customer records, including contact information, payment terms, and credit limits. Address customer inquiries related to billing, payment status, or account balances in a timely and professional manner.

5. Accounts Receivable Reconciliation: Reconcile customer accounts, resolving discrepancies and identifying outstanding balances. Collaborate with other departments, such as sales or customer service, to resolve billing or payment-related issues.

6. Reporting and Analysis: Prepare accounts receivable reports, such as aging reports, cash flow reports, or collection reports, to provide insights into outstanding receivables, cash inflows, and customer payment patterns. Assist in month-end closing procedures and contribute to financial reporting activities.

7. Credit and Collections: Evaluate customer creditworthiness, monitor credit limits, and make recommendations for credit extensions or adjustments. Collaborate with the credit department to assess credit risks and establish collection strategies for delinquent accounts.

As an Accounts Payable/Receivable Clerk, attention to detail, organizational skills, and proficiency in accounting software and systems are essential for this role. Strong communication and interpersonal skills are also important for interacting with vendors and customers. Additionally, the ability to prioritize tasks, meet deadlines, and work collaboratively with other departments is necessary to ensure smooth financial operations within the organization.

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