An accounts payable manager maintains and updates accounting records for larger companies, focusing on bills and other debts that need to be paid. Accounts payable managers may also handle transactions and billing vouchers, compute interest, monitor loan payments, and ensure accuracy of financial data.
Accounts payable managers may start out as entry-level accounting clerks before moving up the career ladder into management. A familiarity with accounting principles and a high level of comfort with both mathematics and computers are helpful qualities in accounts payable managers.
Positions rarely require a bachelor’s degree, but an associate degree can make one’s job application stronger.
While entry-level accounting positions may require only a high school diploma or its equivalent, those wishing to become accounts payable managers should strongly consider higher education as well as gaining some experience.
An associate degree in accounting, bookkeeping, or business may be required for some positions, but in any event, can be helpful for anyone looking to enter this field. In-depth knowledge of special accounting or bookkeeping software may also be highly valued by some employers.
Once in a position, employees may also be required to complete specialized training for employer-specific computer and data systems. Accounts payable managers may also be interested in becoming eligible for certification.
The Bureau of Labor Statistics recently reported that the median annual wages of bookkeeping, accounting, and auditing clerks were $32,510 with the middle 50% earning between $26,350 and $40,130. The highest paid 10% in this group pulled in more than $49,260 while the lowest paid 10% made less than $20,950.
The U.S. Department of Labor predicts “about as fast as the average” job growth for accounting, bookkeeping, and auditing clerks largely because many who currently hold these positions are expected to retire.
Workers in this field who are able to perform a wide variety of bookkeeping and accounting tasks will have the best job prospects.
*Source: U.S. Bureau of Labor Statistics