The accounts payable has a crucial role in ensuring the company’s purchasing invoices, salary payments, VAT, taxes and other amounts are processed and sent within the correct time frame. Duties include the receipt and verification of invoices and their preparation for data entry, preparing and sending payments to suppliers and government departments, and the maintenance of payroll data.
Proficiency in computerised accounting, attention to accuracy and detail, strong interpersonal and time-management skills and strict confidentiality are all required for this position. The accounts payable is expected to work within set deadlines, requiring the ability to deal with work-related stress.
Basic accounting qualifications are required, as is previous experience in related administrative or financial fields. A degree is not essential, but many companies will not employ non-degree applicants unless they have considerable experience and formal accounting qualifications. In-house training provides the basics of company policy.
The average UK salary for the position is at present £18,000 per annum if based in London, with up to £1,000 less if based outside the capital. Given the present economic situation, these salaries are not likely to increase to cover inflation over the next several years.