Recruiter's Glossary

Examples: Bid Process • Financial Reporting • Property Tax

Accounts Payable

Term from Property Management industry explained for recruiters

Accounts Payable is a key financial responsibility that involves managing and paying bills that a property management company owes to vendors, contractors, and suppliers. This includes processing invoices for services like maintenance, utilities, and supplies, making sure bills are paid on time, and keeping accurate records of all payments. Think of it as being in charge of paying all the company's bills and expenses. It's an essential part of a company's financial operations that helps maintain good relationships with suppliers and keeps properties running smoothly.

Examples in Resumes

Managed Accounts Payable for a portfolio of 15 commercial properties, processing over 200 invoices monthly

Streamlined AP processes resulting in 30% faster payment processing time

Supervised Accounts Payable department and implemented new digital invoice tracking system

Typical job title: "Accounts Payable Specialists"

Also try searching for:

AP Clerk Accounts Payable Clerk AP Specialist Accounts Payable Coordinator AP Manager Accounts Payable Manager Bookkeeper Financial Assistant

Where to Find Accounts Payable Specialists

Professional Networks

Job Boards

Example Interview Questions

Senior Level Questions

Q: How would you improve an accounts payable department's efficiency?

Expected Answer: Should discuss implementing digital systems, creating standard procedures, training staff, establishing approval workflows, and vendor management strategies.

Q: How do you handle payment disputes with vendors?

Expected Answer: Should explain professional communication approach, documentation review, reconciliation process, and maintaining vendor relationships while protecting company interests.

Mid Level Questions

Q: What steps do you take to prevent duplicate payments?

Expected Answer: Should describe invoice tracking systems, checking purchase orders, maintaining vendor files, and verification procedures before processing payments.

Q: How do you prioritize payments when managing multiple properties?

Expected Answer: Should explain organizing by due dates, importance of services, payment terms, and maintaining separate records for different properties.

Junior Level Questions

Q: What is the basic process for processing an invoice?

Expected Answer: Should describe receiving invoices, verifying against purchase orders, getting approvals, entering into the system, and processing payment.

Q: How do you organize and file paid invoices?

Expected Answer: Should explain basic filing systems, both digital and physical, and importance of maintaining organized records for audit purposes.